Thursday, 15 March 2012
London Letting Agents Blog: Rents Continue to Rise, But Slowly
London Letting Agents Blog: Rents Continue to Rise, But Slowly: Royal Institution of Chartered Surveyors (RICS) survey has shown that rents are still rising, but at the slowest rate for two years.
Around one in eight letting agents are reporting rent increases, but RICS says this may be a sign the market has hit a plateau as new tenants are either unable or unwilling to pay higher rents.
Tuesday, 13 March 2012
RICs Scotland Report Optimism Despite Shortage of Buyers
Scotland's surveyors have reported optimism among house sellers, despite buyers remaining "thin on the ground".According to a report, surveyors in Scotland are the most negative in the UK about how many sales will be achieved in the next three months, reports the BBC.
The Royal Institution of Chartered Surveyors Scotland (RICS) also found many members expected house prices to fall in the next three months.The lack of mortgage finance is still being blamed for the subdued market.
RICS Scotland said 7% of respondents to its monthly survey said prices had risen in the last three months, however 63% said they had stayed the same and 30% said they had fallen.Scottish surveyors were also among the most pessimistic in the UK when it came to future prices, with many expecting a fall during the spring.However, some in the industry have suggested there is an upturn in activity.
Alasdair Seaton, of DM Hall in Kinross, said: "The new year has seen an increase in sales activity. New properties for sale, if correctly priced and with a correct Home Report value, are selling reasonably quickly. Overpriced properties however will sit with little or no interest."
Malcolm Taylor, of Bell Ingram in Forfar, added: "The market is very slow and sellers' expectations are still too high."
RICS suggested a lack of finance was hampering activity.Sarah Speirs, director of RICS Scotland, said: "The housing market in Scotland is still flat as affordable mortgage finance is still out of reach for many potential first time buyers."Some surveyors are reporting interest in the lower end of the market from investors and this could help get the market moving again, as people sell their first homes and move up the property ladder."
Iain M Lewis, from the Torrance Partnership in Portree, remained pessimistic.He said: "The market conditions are likely to remain poor. Lenders are applying restrictive policies which are reducing significantly the number of first time buyers entering the market and this is causing a log jam."
The Royal Institution of Chartered Surveyors Scotland (RICS) also found many members expected house prices to fall in the next three months.The lack of mortgage finance is still being blamed for the subdued market.
RICS Scotland said 7% of respondents to its monthly survey said prices had risen in the last three months, however 63% said they had stayed the same and 30% said they had fallen.Scottish surveyors were also among the most pessimistic in the UK when it came to future prices, with many expecting a fall during the spring.However, some in the industry have suggested there is an upturn in activity.
Alasdair Seaton, of DM Hall in Kinross, said: "The new year has seen an increase in sales activity. New properties for sale, if correctly priced and with a correct Home Report value, are selling reasonably quickly. Overpriced properties however will sit with little or no interest."
Malcolm Taylor, of Bell Ingram in Forfar, added: "The market is very slow and sellers' expectations are still too high."
RICS suggested a lack of finance was hampering activity.Sarah Speirs, director of RICS Scotland, said: "The housing market in Scotland is still flat as affordable mortgage finance is still out of reach for many potential first time buyers."Some surveyors are reporting interest in the lower end of the market from investors and this could help get the market moving again, as people sell their first homes and move up the property ladder."
Iain M Lewis, from the Torrance Partnership in Portree, remained pessimistic.He said: "The market conditions are likely to remain poor. Lenders are applying restrictive policies which are reducing significantly the number of first time buyers entering the market and this is causing a log jam."
Tuesday, 6 March 2012
Scottish House Market; Second Steppers Facing Challenging Market
Bank of Scotland has launched its annual ‘Second Stepper’ report which tracks the ongoing plight of first time sellers amid a challenging housing market in Scotland. The report reveals that home affordability for Second Steppers has become much less favourable and declining house prices have led to equity shortfalls for many.
Carol Anderson, Head of Mortgages at Bank of Scotland commented explains:
"First time sellers in Scotland are now faced with some very tough challenges when trying to make their next move on the property ladder. Almost two thirds of Scottish Second Steppers have wanted to climb up the ladder in the past 12 months but have been unable to do so as they face an increasing number of challenges. It is vital that this group of home movers receive more support and attention as they play an intrinsic role in getting the housing market moving again.
“To achieve a sustainable housing market in Scotland we need to see movement throughout the market. If Second Steppers get stuck on the first rung, movement at the bottom half of the ladder comes to a standstill, and this bottleneck will not only restrict the supply of starter properties but will have a knock on effect across the whole of the housing market.”
Scottish House Market News
Carol Anderson, Head of Mortgages at Bank of Scotland commented explains:
"First time sellers in Scotland are now faced with some very tough challenges when trying to make their next move on the property ladder. Almost two thirds of Scottish Second Steppers have wanted to climb up the ladder in the past 12 months but have been unable to do so as they face an increasing number of challenges. It is vital that this group of home movers receive more support and attention as they play an intrinsic role in getting the housing market moving again.
“To achieve a sustainable housing market in Scotland we need to see movement throughout the market. If Second Steppers get stuck on the first rung, movement at the bottom half of the ladder comes to a standstill, and this bottleneck will not only restrict the supply of starter properties but will have a knock on effect across the whole of the housing market.”
Scottish House Market News
Saturday, 3 March 2012
New York Tops London For Commercial Property Investment
Bloomberg reports that New York extended its lead over London as the top destination for commercial real-estate investment as the U.S. economy revived and Europe’s debt crisis discouraged some buying in the region, property broker Cushman & Wakefield Inc. said today in a report.
Investment for commercial properties rose to $35.7 billion in New York last year, including multifamily buildings, making it the largest target for buyers at a city level, the broker said. That compares with $29.2 billion in London and $22.6 billion for Tokyo.
Commercial investment globally rose 14 percent in 2011 to $727 billion, or $808 billion including multifamily properties, Cushman & Wakefield said, with volumes up 83 percent from 2009. New York overtook London as the No. 1 destination for real- estate investment in the twelve months through August for the first time since 2007 as improved access to financing spurred deals. At the time, New York led London by $2.5 billion.
“There was a flight to quality in the Americas,” said Greg Vorwaller, global head of capital markets for Cushman & Wakefield. Investors focused “on best-in-class assets in flagship markets” including New York, Washington, San Francisco, Boston, Los Angeles and Chicago, he said.
Investment for commercial properties rose to $35.7 billion in New York last year, including multifamily buildings, making it the largest target for buyers at a city level, the broker said. That compares with $29.2 billion in London and $22.6 billion for Tokyo.
Commercial investment globally rose 14 percent in 2011 to $727 billion, or $808 billion including multifamily properties, Cushman & Wakefield said, with volumes up 83 percent from 2009. New York overtook London as the No. 1 destination for real- estate investment in the twelve months through August for the first time since 2007 as improved access to financing spurred deals. At the time, New York led London by $2.5 billion.
“There was a flight to quality in the Americas,” said Greg Vorwaller, global head of capital markets for Cushman & Wakefield. Investors focused “on best-in-class assets in flagship markets” including New York, Washington, San Francisco, Boston, Los Angeles and Chicago, he said.
Friday, 2 March 2012
Development Land With Planning for Sale in Birmingham
Development Land For Sale in Birmingham
Cotteridge
Hudsons Drive
Birmingham
West Midlands
B30
Gross Site Area: 19800 sq/ft*
£ 575,000
Freehold
Cotteridge is a residential area of Birmingham approximately 4.5 miles south of Birmingham City Centre connected to both the Watford Road and the Pershore Road.
The property is located in a recently developed residential road that offers good transport links to the City Centre, local amenities including the Cotteridge centre, Bournville and Kings Norton train stations.
Forming part of a larger scheme to develop a former factory and car park into 51 residential dwellings however in 2007 only the factory site was built leaving the car park undeveloped.
The car park comprises 11 Residential dwellings (5 x 3 bed houses, 2 x 1 bed flats & 4 x 2 bed flats)
Land with Planning for Sale Cotteridge, Birmingham
Thursday, 1 March 2012
Sheffield Property With Planning for Sale
Sheffield Site With planning For Sale
Steel Works
Kelham Island, Dun Fields
Sheffield
South Yorkshire
S3
GIA: 74361 sq/ft*
£ 3,000,000
Freehold
Sheffield is the countrys fourth largest city nestled on the edge of the beautiful Peak District. The citys two highly regarded universities fuel one of the youngest populations in the UK, with many students opting to stay after graduation, thus generating a highly trained workforce.
The city centre boasts a unique cultural scene from live music, arts, to the classic architectural beauty of City Hall and the Cathedral. Together with its renowned sporting facilities and the vibrant night life, Sheffield is a diverse and popular city.
The development can be found on Kelham Island (S3) one of the citys oldest industrial districts and is within walking distance of the City Centre and ideal for commuters with the new outer ring road and connections to the motorway.
Full planning permission has been granted for the demolition of this former steel works and the construction of 138 luxury apartments (28x Studios, 40x 1 beds, 41x 2 beds, 26x 3 beds & 8x 4 beds)
The inspiration behind Steel Works comes from Sheffields unique industrial heritage and worldwide acclaim as a major manufacturer of steel products. Steel Works enjoys a distinctive urban environment set against an impressive background of historic buildings. Much of the steel was produced in small courtyard developments and Steel Works celebrates these origins by creating carefully proportioned, linked, landscaped courtyards as a focus for the new development.
S.106 contribution £272,050
Property for Redevelopment for Sale In Sheffield
London Olympic Borough of Newham Portrayed
Bloomberg reports on the London Borough of Newham, and it does not read so well.
The east London borough is situated 5 miles (8 km) east of the City of London and is hosting the 2012 Olympic Games had the city’s biggest decline in home prices even after the government spent billions of pounds on projects aimed at revitalizing the capital’s poorest area.Prices in Newham, where the opening ceremony will be held on July 27, fell 2.5 percent last year compared with a 2.8 percent gain in London overall, Jones Lang LaSalle Inc. (JLL) estimates. Property values in the three other areas benefiting most from Olympic investment all rose, according to the Chicago-based broker.
Newham spreads from Stratford, where the Olympic Park is based, past the home of the West Ham United to East Ham on the region’s border with Barking & Dagenham. With about 270,000 residents, had the lowest average income among London boroughs and the eighth lowest in England in 2010, according to a survey by the Department of Communities and Local Government. According to 2006 estimates, Newham has one of the highest ethnic minority populations of all the districts in the country, with no particular ethnic group dominating.
While areas closest to the Olympic Park will benefit from improved rail services, sports venues and new businesses, much of the borough lacks infrastructure and amenities such as schools and restaurants that attract homebuyers, according to residents and real-estate professionals.There are few signs of revitalization are visible in the neighborhood of Plaistow about two miles southeast of the Olympic Stadium.
Renewal projects linked to the Olympics include upgraded rail links that can transport passengers between Stratford to London’s Kings Cross in seven minutes, the construction of more than 2,800 homes, one of the U.K.’s largest tree planting projects and the cleaning of almost two million tons of contaminated soil.“London 2012 truly will be remembered as the regeneration games, due to the scale of change that is being delivered,” Olympic Delivery Authority Chairman John Armitt told a conference of business leaders in 2008.
Unemployment in Newham was 14.7 percent in the year through June 2011, according to the Office for National Statistics.
The east London borough is situated 5 miles (8 km) east of the City of London and is hosting the 2012 Olympic Games had the city’s biggest decline in home prices even after the government spent billions of pounds on projects aimed at revitalizing the capital’s poorest area.Prices in Newham, where the opening ceremony will be held on July 27, fell 2.5 percent last year compared with a 2.8 percent gain in London overall, Jones Lang LaSalle Inc. (JLL) estimates. Property values in the three other areas benefiting most from Olympic investment all rose, according to the Chicago-based broker.
Newham spreads from Stratford, where the Olympic Park is based, past the home of the West Ham United to East Ham on the region’s border with Barking & Dagenham. With about 270,000 residents, had the lowest average income among London boroughs and the eighth lowest in England in 2010, according to a survey by the Department of Communities and Local Government. According to 2006 estimates, Newham has one of the highest ethnic minority populations of all the districts in the country, with no particular ethnic group dominating.
While areas closest to the Olympic Park will benefit from improved rail services, sports venues and new businesses, much of the borough lacks infrastructure and amenities such as schools and restaurants that attract homebuyers, according to residents and real-estate professionals.There are few signs of revitalization are visible in the neighborhood of Plaistow about two miles southeast of the Olympic Stadium.
Renewal projects linked to the Olympics include upgraded rail links that can transport passengers between Stratford to London’s Kings Cross in seven minutes, the construction of more than 2,800 homes, one of the U.K.’s largest tree planting projects and the cleaning of almost two million tons of contaminated soil.“London 2012 truly will be remembered as the regeneration games, due to the scale of change that is being delivered,” Olympic Delivery Authority Chairman John Armitt told a conference of business leaders in 2008.
Unemployment in Newham was 14.7 percent in the year through June 2011, according to the Office for National Statistics.
Wednesday, 29 February 2012
Olympics and Jubilee celebrations have not really prompted a mass surge of enquiries for short term lets
Property owners who are expecting to reap the benefits of increased rental returns during this year's big London events should not set their sights too high. The Olympics and Jubilee celebrations have not really prompted a mass surge of enquiries for short term lets;it appears that 90 percent of letting enquiries about this period are speculative enquiries coming from would be landlords planning to leave London during these busy events,and make a quick killing at the same time.
The Olympic or Jubilee Effect has also been used to promote the sale of London investment and buy to let property at overseas property shows. Recent surveys show that there has been a marked increase in Australian investment in residential buy to let property. However,this is more likely to be the result of the strong Australian dollar and familiarity with the London rental market, than with a one off events.
Any other recent rise in overseas nationals increased interest and purchase can be directly traced back to events in the home country; Russians seeking a safe haven in the run up to unnerving presidential elections; Cash rich Greeks are also seeking a steady investment during uncertain economic times; Chinese investors have already replaced those from Russia and the Middle East as the busiest property investors, led by their Government looking to invest huge, surplus to requirements, sovereign wealth fund. No doubt these investors will also be able to afford some Olympic opening ceremony tickets too.
London residential agent Robert Lazarus commented "London's annual events such as Wimbledon obviously skew the property market of surrounding areas, and boost rental income for the period, but property investment is a long term project and local regeneration benefits aside, one off events are unlikely to impact on property markets."
London Property News
The Olympic or Jubilee Effect has also been used to promote the sale of London investment and buy to let property at overseas property shows. Recent surveys show that there has been a marked increase in Australian investment in residential buy to let property. However,this is more likely to be the result of the strong Australian dollar and familiarity with the London rental market, than with a one off events.
Any other recent rise in overseas nationals increased interest and purchase can be directly traced back to events in the home country; Russians seeking a safe haven in the run up to unnerving presidential elections; Cash rich Greeks are also seeking a steady investment during uncertain economic times; Chinese investors have already replaced those from Russia and the Middle East as the busiest property investors, led by their Government looking to invest huge, surplus to requirements, sovereign wealth fund. No doubt these investors will also be able to afford some Olympic opening ceremony tickets too.
London residential agent Robert Lazarus commented "London's annual events such as Wimbledon obviously skew the property market of surrounding areas, and boost rental income for the period, but property investment is a long term project and local regeneration benefits aside, one off events are unlikely to impact on property markets."
London Property News
Monday, 27 February 2012
London House for Sale, West Hampstead
Freehold Property For Sale: London House for Sale, West Hampstead: Broomsleigh Street, West Hampstead, London, NW6 A superb period character house in excellent decorative order in a quiet residential turni...
Thursday, 23 February 2012
One Commercial Street Development Launched
City of London Property Market News Blog: One Commercial Street Development Launched: Redrow has announced the global launch of its One Commercial Street development; an iconic mixed use development set within a prominent 23 s...
Wednesday, 22 February 2012
Basingstoke Pub foe Sale, Hampshire
Leasehold public house/development land for sale with full vacant possession.
Buckskin
Blackdown Close
Basingstoke
Hampshire
RG22
Gross Site Area: 7148 sq/ft*
£ 55,000 + VAT
Leasehold
Short Leasehold 99 years from 1972 @ £10,000 pa. Unconditional offers are invited for our clients unencumbered interest.
Ground floor comprises lounge bar with lowered pool area. Public L shaped bar and raised level for dining and kitchen.
Basement level comprises store room (plus lift to ground floor) and boiler room.
First floor comprises 4 double bedrooms, kitchen, store cupboard and bathroom.
There is a car park for 15 spaces approx.
The property represents excellent value for continued licensed use / owner occupation. There is also enormous potential for redevelopment (residential / commercial / mixed use) subject to gaining the appropriate Local Authority consents.
Hampshire Pub for Sale, Basingstoke
Monday, 20 February 2012
Damien Hirst's Eco Home Plans
Damien Hirst has started a new venture building 500 ecohomes in Ilfracombe, Devon, where he already owns a number of properties. The announcement was made by one of Damien Hirst's representatives, architect Mike Rundell of MRJ Rundell Associates, at a meeting to discuss Ilfracombe's southern extension last week.
The meeting followed two similar meetings in July and October last year where planning permission was sought for up to 1,000 new homes, a primary school, sports facilities, small business units and a medical centre.
Mr Rundell commented: "We are not expecting to make retirement homes for rich people coming down from London.We want these houses to attract young, creative families as well as people who already live here. It's our ambition to make them affordable but houses like these are more expensive than ordinary houses. I couldn't tell you specifically how much we are talking about."
Building and Construction News
The meeting followed two similar meetings in July and October last year where planning permission was sought for up to 1,000 new homes, a primary school, sports facilities, small business units and a medical centre.
Mr Rundell commented: "We are not expecting to make retirement homes for rich people coming down from London.We want these houses to attract young, creative families as well as people who already live here. It's our ambition to make them affordable but houses like these are more expensive than ordinary houses. I couldn't tell you specifically how much we are talking about."
Building and Construction News
Friday, 17 February 2012
London's Letting/ Property Market and The London Olympics
Property owners who are expecting to reap the benefits of increased rental returns during this year's big London events should not set their sights too high. The Olympics and Jubilee celebrations have not really prompted a mass surge of enquiries for short term lets;it appears that 90 percent of letting enquiries about this period are speculative enquiries coming from would be landlords planning to leave London during these busy events,and make a quick killing at the same time.
The Olympic or Jubilee Effect has also been used to promote the sale of London investment and buy to let property at overseas property shows. Recent surveys show that there has been a marked increase in Australian investment in residential buy to let property. However,this is more likely to be the result of the strong Australian dollar and familiarity with the London rental market, than with a one off events.
Any other recent rise in overseas nationals increased interest and purchase can be directly traced back to events in the home country; Russians seeking a safe haven in the run up to unnerving presidential elections; Cash rich Greeks are also seeking a steady investment during uncertain economic times; Chinese investors have already replaced those from Russia and the Middle East as the busiest property investors, led by their Government looking to invest huge, surplus to requirements, sovereign wealth fund.
No doubt these investors will also be able to afford some Olympic opening ceremony tickets too.
The Olympic or Jubilee Effect has also been used to promote the sale of London investment and buy to let property at overseas property shows. Recent surveys show that there has been a marked increase in Australian investment in residential buy to let property. However,this is more likely to be the result of the strong Australian dollar and familiarity with the London rental market, than with a one off events.
Any other recent rise in overseas nationals increased interest and purchase can be directly traced back to events in the home country; Russians seeking a safe haven in the run up to unnerving presidential elections; Cash rich Greeks are also seeking a steady investment during uncertain economic times; Chinese investors have already replaced those from Russia and the Middle East as the busiest property investors, led by their Government looking to invest huge, surplus to requirements, sovereign wealth fund.
No doubt these investors will also be able to afford some Olympic opening ceremony tickets too.
Wednesday, 15 February 2012
Central London Buy to Let Property Investment Destination of Choice for Australian Investors
Increasing number of Australian buyers are purchasing property in London with a view to renting them out, it is claimed.
According to London property search company, Sourcing Property, they are buying as an investment. The company has acted for six Australian buy to let clients in the past three months alone.
‘The Australian dollar is extremely strong right now, largely due to Australia being so commodity rich and the boom in China’s demand for its commodities. We’re therefore seeing a number of Australia based buyers, mainly who are purchasing for an investment. They view central London property as a relatively safe investment, and they’re getting a saving on it due to the favourable exchange rate,’ said Jo Eccles, director of Sourcing Property.
‘Most of our Australian clients typically buy a one or two bedroom apartment between £400,000 and £800,000. Some of them fly over to the UK for about a week to look at the options, whereas others buy remotely and never physically see what they’ve bought. In this case, we do the search, shortlist and purchase via email and telephone. Because the rental market for good quality one and two bedroom flats is so strong in London, their buy to let investment is usually rented out within a couple of weeks at most,’ she explained.
According to London property search company, Sourcing Property, they are buying as an investment. The company has acted for six Australian buy to let clients in the past three months alone.
‘The Australian dollar is extremely strong right now, largely due to Australia being so commodity rich and the boom in China’s demand for its commodities. We’re therefore seeing a number of Australia based buyers, mainly who are purchasing for an investment. They view central London property as a relatively safe investment, and they’re getting a saving on it due to the favourable exchange rate,’ said Jo Eccles, director of Sourcing Property.
‘Most of our Australian clients typically buy a one or two bedroom apartment between £400,000 and £800,000. Some of them fly over to the UK for about a week to look at the options, whereas others buy remotely and never physically see what they’ve bought. In this case, we do the search, shortlist and purchase via email and telephone. Because the rental market for good quality one and two bedroom flats is so strong in London, their buy to let investment is usually rented out within a couple of weeks at most,’ she explained.
Sunday, 12 February 2012
Buy to Let Mortgage News
Mortgage lenders are beginning to loosen their lending criteria to prospective buy to let (BTL) customers.
Raising the finances needed to improve a property or expand a portfolio has been a headache for many landlords over the past couple of years but according to Mortgages for Business, BTL products at higher loan to value (LTV) ratios are becoming more available.
Indeed, there are now more than 20 BTL mortgages from six different lenders at LTVs of up to 80 per cent.
David Whittaker, managing director at Mortgages for Business, stated: "This is great news for landlords and investors and demonstrates the growing confidence of lenders in this sector who see buy to let as more profitable than homeowner lending."
And it's certainly a good time for landlords to expand their property portfolios as the yields available have never been greater in many parts of the country.
Research conducted by specialist mortgage provider Paragon late last year found that properties let to students provide a landlord the highest possible yield, with an average of 7.62 per cent, while shared houses are the second best performer at 7.56 per cent.
Landlord and Tenant News
Raising the finances needed to improve a property or expand a portfolio has been a headache for many landlords over the past couple of years but according to Mortgages for Business, BTL products at higher loan to value (LTV) ratios are becoming more available.
Indeed, there are now more than 20 BTL mortgages from six different lenders at LTVs of up to 80 per cent.
David Whittaker, managing director at Mortgages for Business, stated: "This is great news for landlords and investors and demonstrates the growing confidence of lenders in this sector who see buy to let as more profitable than homeowner lending."
And it's certainly a good time for landlords to expand their property portfolios as the yields available have never been greater in many parts of the country.
Research conducted by specialist mortgage provider Paragon late last year found that properties let to students provide a landlord the highest possible yield, with an average of 7.62 per cent, while shared houses are the second best performer at 7.56 per cent.
Landlord and Tenant News
Friday, 10 February 2012
Nottingham Investment Property for Sale
Freehold Office Building for Sale, Basford, Nottingham
David Lane
Nottingham
Nottinghamshire
NG6
Gross Site Area: 1.11 acres*
£ 800,000 + VAT
Freehold
The property can be found on David Lane adjacent to the David Lane NET Tram Station in the suburb of Basford. The building is approximately 3 miles North West of Nottingham City Centre.
David Lane is a busy link route connecting to the A610 Nuthall Road and giving good access to the A614 Nottingham Ring Road. The office accommodation comprises a four storey building and benefits from central heating, passenger lift, kitchen, WC facilities.
FURTHER INFORMATION
Vacant possession
Approx gross site area: 1.11 acres* (0.45 hectares).
Approx gross external area: 20,281 sq.ft*
Rateable Value: £84,000
Unconditional offers are invited for our clients unencumbered interest
The property represents excellent value for continued use / owner occupation. There is also potential for redevelopment (residential / student accomodation / commercial / mixed use) subject to gaining the appropriate Local Authority consents.
Redevelopment Property for Sale Basford, Nottingham
London Olympic East Village Residential Apartments
East Village may be London's newest neighbourhood, yet you'll think it had been here for years. Lush wetlands, fully grown trees and fabulous fauna and flora. Local independent shops, cafes and bars, and Westfield Stratford City, just a short stroll away. Outstanding free schooling for all ages at Chobham Academy, a community centre and an advanced medical clinic. Not forgetting the obvious - world class sporting facilities right on your doorstep.
During the Games, the Olympic and Paralympic Village will comprise residential apartments for around 17,000 athletes and officials, along with shops, restaurants, medical, media and leisure facilities and large areas of open space.
The Village also includes a 'Village Plaza’ where athletes can meet with friends and family. The plan retains London's tradition of building homes around communal squares and courtyards, with water features accentuating the closeness of the River Lea.
Athletes will have an inspirational view over the Park. Every apartment will provide comfortable accommodation and state-of-the-art communications facilities, including internet access and wireless networking. All the apartment blocks will be fully accessible and equipped with modern lifts.
Athletes will have easy access to the travel and leisure facilities of the adjacent Stratford City complex, and the High Speed 1 Javelin® shuttle service will link the Village to central London in just seven minutes.
During the Games, the Village will include ‘back of house’ operations, and services for athletes such as catering and transport. The majority of these will be accommodated in temporary structures on sites that can be cleared for development immediately after the Games.
After the Games, the Olympic and Paralympic Village will be a lasting legacy of essential new housing for east London. It will be transformed into 2,800 new homes, including 1,379 affordable homes.
The communities that develop in the area after the Games will be supported by new parks, open space, transport links, and community facilities including Chobham Academy – a world-class new education campus with 1,800 places for students aged 3-19.
London Property News
During the Games, the Olympic and Paralympic Village will comprise residential apartments for around 17,000 athletes and officials, along with shops, restaurants, medical, media and leisure facilities and large areas of open space.
The Village also includes a 'Village Plaza’ where athletes can meet with friends and family. The plan retains London's tradition of building homes around communal squares and courtyards, with water features accentuating the closeness of the River Lea.
Athletes will have an inspirational view over the Park. Every apartment will provide comfortable accommodation and state-of-the-art communications facilities, including internet access and wireless networking. All the apartment blocks will be fully accessible and equipped with modern lifts.
Athletes will have easy access to the travel and leisure facilities of the adjacent Stratford City complex, and the High Speed 1 Javelin® shuttle service will link the Village to central London in just seven minutes.
During the Games, the Village will include ‘back of house’ operations, and services for athletes such as catering and transport. The majority of these will be accommodated in temporary structures on sites that can be cleared for development immediately after the Games.
After the Games, the Olympic and Paralympic Village will be a lasting legacy of essential new housing for east London. It will be transformed into 2,800 new homes, including 1,379 affordable homes.
The communities that develop in the area after the Games will be supported by new parks, open space, transport links, and community facilities including Chobham Academy – a world-class new education campus with 1,800 places for students aged 3-19.
London Property News
Wednesday, 8 February 2012
Greenwich Granted Royal Status
The Queen has made Greenwich in south-east London a royal borough to mark her Diamond Jubilee.It is the first borough to be granted royal status in more than 80 years and is one of only four in the country.
The honour has been conferred to recognise the close links between Greenwich and royalty since the Middle Ages, the Cabinet Office said.The honour will be marked by a weekend of celebrations in Woolwich, Eltham and Greenwich town centres.
Greenwich will be one of six boroughs to host the London 2012 Games which start on 27 July.Council leader Chris Roberts said the borough was "proud to take centre stage" in a special year in which London celebrates the Olympics and the Queen's Jubilee.
"Our new royal borough status will drive forward our record levels of regeneration and cement our role as a key international destination for businesses and visitors from across the globe." He added: "It will create a legacy for local residents that will last for generations to come."
The honour has been conferred to recognise the close links between Greenwich and royalty since the Middle Ages, the Cabinet Office said.The honour will be marked by a weekend of celebrations in Woolwich, Eltham and Greenwich town centres.
Greenwich will be one of six boroughs to host the London 2012 Games which start on 27 July.Council leader Chris Roberts said the borough was "proud to take centre stage" in a special year in which London celebrates the Olympics and the Queen's Jubilee.
"Our new royal borough status will drive forward our record levels of regeneration and cement our role as a key international destination for businesses and visitors from across the globe." He added: "It will create a legacy for local residents that will last for generations to come."
Monday, 6 February 2012
Lady Gaga Buys London Penthouse
Lady Gaga has purchased a property in London.
It seems the 25-year old may have had a change of heart after stating in November that she didn't want to splash her cash on a property: "I’m not ready to buy a house. It feels like marriage or something. It’s such a commitment. I don’t like it."
The Metro reported that Gaga has nabbed a luxury apartment in Fitzrovia, north of Oxford Street in swank region. Fitzrovia has proved increasingly popular with celebrities over the past few years, with Madonna previously owning a town house in the area, while her ex-partner Guy Ritchie brought two mansions in May 2010.
The property is reported as having a concrete exterior, floor-to-ceiling windows, four luxury penthouses, a roof garden and a communal courtyard.The property is in a luxurious development which is still being built.
She had been staying in The Lanesborough hotel every time she visited London but because she is over so much she has decided to go for it and invest.
It seems the 25-year old may have had a change of heart after stating in November that she didn't want to splash her cash on a property: "I’m not ready to buy a house. It feels like marriage or something. It’s such a commitment. I don’t like it."
The Metro reported that Gaga has nabbed a luxury apartment in Fitzrovia, north of Oxford Street in swank region. Fitzrovia has proved increasingly popular with celebrities over the past few years, with Madonna previously owning a town house in the area, while her ex-partner Guy Ritchie brought two mansions in May 2010.
The property is reported as having a concrete exterior, floor-to-ceiling windows, four luxury penthouses, a roof garden and a communal courtyard.The property is in a luxurious development which is still being built.
She had been staying in The Lanesborough hotel every time she visited London but because she is over so much she has decided to go for it and invest.
Saturday, 4 February 2012
Young Index Shows 19.1% Of Landlords Increased Portfolio in 2011
Each quarter,Young Index research gauges market sentiment within the residential property sector, polling Young Group's client base of around 500 active landlords who hold UK property assets.The latest Young Index report of Private Rented Sector sentiment shows that 19.1% of landlords added additional residential property assets to their portfolios during 2011.The activity was driven by strong positive expectations for both capital growth and income returns for the year ahead.
London clearly leads the way with 85.1% of respondents expecting rents in the capital to continue to rise throughout 2012 and a full 100% of landlords predict that property values in London will be at current levels or higher by the end of the year.Interest rates are widely expected to remain low. 58.3% of landlords expect the Bank of England base rate to remain static throughout 2012.
Of those who do see a rise on the horizon, their average prediction for Q4 2012 is less than half a percentage point higher than the current all time low of 0.5%, at 0.78%.Undoubtedly, current low costs of finance represent a short term fillip but landlords clearly see the Private Rented Sector as a long term investment class.
Data from Young Index Q4 2011 show that 36.9% of landlords intend to hold their property until 2031. The average future hold period across all respondents was 15.4 years.Neil Young, CEO of Private Rented Sector specialists, Young Group, who carry out the quarterly research comments:
"Without a doubt, the appetite from private investors in the PRS for additional investments is extremely strong.
"The London rental market is particularly strong and demand from tenants seeking quality PRS accommodation shows no sign of abating, buoyed by a population that is spending longer than ever living in rented homes and increasingly living in solo households."
London clearly leads the way with 85.1% of respondents expecting rents in the capital to continue to rise throughout 2012 and a full 100% of landlords predict that property values in London will be at current levels or higher by the end of the year.Interest rates are widely expected to remain low. 58.3% of landlords expect the Bank of England base rate to remain static throughout 2012.
Of those who do see a rise on the horizon, their average prediction for Q4 2012 is less than half a percentage point higher than the current all time low of 0.5%, at 0.78%.Undoubtedly, current low costs of finance represent a short term fillip but landlords clearly see the Private Rented Sector as a long term investment class.
Data from Young Index Q4 2011 show that 36.9% of landlords intend to hold their property until 2031. The average future hold period across all respondents was 15.4 years.Neil Young, CEO of Private Rented Sector specialists, Young Group, who carry out the quarterly research comments:
"Without a doubt, the appetite from private investors in the PRS for additional investments is extremely strong.
"The London rental market is particularly strong and demand from tenants seeking quality PRS accommodation shows no sign of abating, buoyed by a population that is spending longer than ever living in rented homes and increasingly living in solo households."
Friday, 3 February 2012
Olympic Games Boost to London Property After The Games have Finished
London's housing market is likely to be boosted by the Olympic Games, which will be hosted by the city this summer, but positive effects may not be seen until after the event has finished.
This is the opinion of chief executive at the National Federation of Property Professionals Peter Bolton King, who said while the tournament is still running, it may actually have the opposite impact.
For instance, people could be discouraged from looking at the London property market because of the increase in traffic around that time, he explained.
However, the specialist expects medium-term positive effects, as the area will be on show to the many visitors that will flood in for the competition.
"People will have looked at the area and will say, 'Hang on a minute, this might be an area in which I would like to live or invest'," Mr Bolton King stated.
The Olympic Games will be held between July 27th and August 12th, while the Paralympic Games are scheduled for August 29th to September 9th.
This is the opinion of chief executive at the National Federation of Property Professionals Peter Bolton King, who said while the tournament is still running, it may actually have the opposite impact.
For instance, people could be discouraged from looking at the London property market because of the increase in traffic around that time, he explained.
However, the specialist expects medium-term positive effects, as the area will be on show to the many visitors that will flood in for the competition.
"People will have looked at the area and will say, 'Hang on a minute, this might be an area in which I would like to live or invest'," Mr Bolton King stated.
The Olympic Games will be held between July 27th and August 12th, while the Paralympic Games are scheduled for August 29th to September 9th.
Thursday, 2 February 2012
Korean Investment in London Commercial Property
The Korean Teachers’ Credit Union, with 20.9 trillion won ($18.5 billion) of assets, plans to buy a 12-story office building in London in the first half as declining property prices boost returns.
The credit union will visit the site this month and may team up with three or four Korean institutional investors to buy the property worth 299 million pounds ($471 million), said Lee Kun Ho, executive director at the Seoul-based organization that provides loans and insurance to its members. He declined to identify the tower as he’s still in talks.
“The price is still attractive enough for us to earn around 6 percent annually, and possibly further returns upon selling the building after a few years,” Lee said in an interview on Jan. 31, adding that prices for some properties are falling as banks put more buildings that were repossessed earlier up for sale to increase liquidity.
The credit union is planning its purchase as a two-year recovery in U.K.’s commercial property values petered out in the second half amid Europe’s sovereign debt crisis. The average value of the nation’s commercial real estate dropped 0.02 percent in November from October, the Investment Property Databank said last month. Values fell 44.1 percent from June 2007 to June 2009 and then rose by 17.9 percent in the following months through November.
The investment will be made while London, Europe’s most- active commercial property market since the start of the global financial crisis, is losing some of its allure as rising prices and prospects of a U.K. recession deter investors. The city slipped to 10th place in a ranking of 27 European cities, according to a survey of more than 600 brokers, investors and money managers compiled by PricewaterhouseCoopers LLP.
“Asian investors with sufficient liquidity can seize the investment opportunity amid financial turmoil in Europe and the U.S.,” Lee said.
The 41-year-old credit union joined a group of investors that bought a San Francisco office tower occupied by Wells Fargo & Co. in 2010 for $333 million in the city’s biggest commercial property deal in three years.
Bloomberg
The credit union will visit the site this month and may team up with three or four Korean institutional investors to buy the property worth 299 million pounds ($471 million), said Lee Kun Ho, executive director at the Seoul-based organization that provides loans and insurance to its members. He declined to identify the tower as he’s still in talks.
“The price is still attractive enough for us to earn around 6 percent annually, and possibly further returns upon selling the building after a few years,” Lee said in an interview on Jan. 31, adding that prices for some properties are falling as banks put more buildings that were repossessed earlier up for sale to increase liquidity.
The credit union is planning its purchase as a two-year recovery in U.K.’s commercial property values petered out in the second half amid Europe’s sovereign debt crisis. The average value of the nation’s commercial real estate dropped 0.02 percent in November from October, the Investment Property Databank said last month. Values fell 44.1 percent from June 2007 to June 2009 and then rose by 17.9 percent in the following months through November.
The investment will be made while London, Europe’s most- active commercial property market since the start of the global financial crisis, is losing some of its allure as rising prices and prospects of a U.K. recession deter investors. The city slipped to 10th place in a ranking of 27 European cities, according to a survey of more than 600 brokers, investors and money managers compiled by PricewaterhouseCoopers LLP.
“Asian investors with sufficient liquidity can seize the investment opportunity amid financial turmoil in Europe and the U.S.,” Lee said.
The 41-year-old credit union joined a group of investors that bought a San Francisco office tower occupied by Wells Fargo & Co. in 2010 for $333 million in the city’s biggest commercial property deal in three years.
Bloomberg
Wednesday, 1 February 2012
London Housing Demand Continues to Outstrip Supply
London starts the new year again proving it has its own micro-markets where housing demand continues to outstrip supply, reports Rightmove. New sellers in the capital have had the confidence to increase their month-on-month asking prices by 0.8% (£3,453), compared to a fall of 1.5% in the rest of the country (£2,792).
This is a continuation of the trend seen over the last year, with asking prices in London now 6.1% higher than a year ago. The rest of the country recorded a combined fall of 1.7% over the same period.
Miles Shipside, director of Rightmove comments:
“Depending on local market conditions, there are differing pressures on the direction of prices. The lack of property coming to market in the London area over the last year combined with buyer demand has helped to buoy new sellers’ asking prices in most locations. Prices will be receiving a further boost as estate agents compete to attract fresh stock for the year ahead.”
There have been more than 44 million property searches on Rightmove during the first ten days of 2012. While this doesn’t necessarily indicate a surge in proceedable buyer numbers, it does highlight a strong pent-up demand to move and is also a reflection that value-seeking buyers who can proceed are taking extra care to research the market. January often sees the beginning of a ‘spring bounce’ in the prices of properties coming to market, and there is again evidence of this in 2012, where the overall monthly period rise of 0.8% in new seller asking prices was boosted by a rise of 1.8% (£7,605) in the first week of 2012.
Shipside comments:
“As we move into the more active spring market with a shortage of new supply, prices will rise where the local market or a particular estate agent is short of a type or style of stock. However, asking more for your property can only be successful if your target buying audience can raise the necessary funds. The market fragmentation caused by the credit crunch means that success in selling now requires a more careful and complex micro-market analysis, rather than a wishful price-punt to see what happens.”
This is a continuation of the trend seen over the last year, with asking prices in London now 6.1% higher than a year ago. The rest of the country recorded a combined fall of 1.7% over the same period.
Miles Shipside, director of Rightmove comments:
“Depending on local market conditions, there are differing pressures on the direction of prices. The lack of property coming to market in the London area over the last year combined with buyer demand has helped to buoy new sellers’ asking prices in most locations. Prices will be receiving a further boost as estate agents compete to attract fresh stock for the year ahead.”
There have been more than 44 million property searches on Rightmove during the first ten days of 2012. While this doesn’t necessarily indicate a surge in proceedable buyer numbers, it does highlight a strong pent-up demand to move and is also a reflection that value-seeking buyers who can proceed are taking extra care to research the market. January often sees the beginning of a ‘spring bounce’ in the prices of properties coming to market, and there is again evidence of this in 2012, where the overall monthly period rise of 0.8% in new seller asking prices was boosted by a rise of 1.8% (£7,605) in the first week of 2012.
Shipside comments:
“As we move into the more active spring market with a shortage of new supply, prices will rise where the local market or a particular estate agent is short of a type or style of stock. However, asking more for your property can only be successful if your target buying audience can raise the necessary funds. The market fragmentation caused by the credit crunch means that success in selling now requires a more careful and complex micro-market analysis, rather than a wishful price-punt to see what happens.”
Monday, 30 January 2012
Middlesex Investment Residential Property For Sale
Investment Property for Sale Middlesex
Ickenham
Hoylake Crescent
Ickenham
Middlesex
UB10
£ 410,000 Freehold
Located in the Middlesex Town of Ickenham Hoylake Crescent is a quiet tree lined street within close proximity to Ickenham Village and it's selection of shops, restaurants and schools.
Ickenham and West Ruislip stations are within walking distance offering easy access into Central London via the Metropolitan/Piccadilly, Chiltern and Central lines. The A40, M40 & M25 motorways offer alternative transport options.
The accommodation briefly comprises an un-modernised bungalow with entrance hall, lounge, kitchen, 3 bedrooms and a bathroom.
Further benefits include a private driveway and a rear garden backing onto playing fields.
Potential to increase its square footage by way of extension and loft conversion (STPP).
Bungalow for Redevelopment for Sale, Middlesex
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