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May 23, 2008
Britons head for cheaper and sunnier climes
Permalink: Britons head for cheaper and sunnier climes
by Gill Montia
The Office for National Statistics has published its most recent statistics on Britain's emigration trends.
In 2006, over 200,000 people left the UK, increasing the total number of people choosing to live overseas between 1997 and 2006 to 1.97 million.
During the ...
Yields and new letting instructions rise at record levels
Permalink: Yields and new letting instructions rise at record levels
by Gill Montia
The Royal Institution of Chartered Surveyors (Rics) has published a quarterly survey on the rented sector showing that 29% more chartered surveyors experienced a rise than a fall in new landlord instructions, in the first three months of ...
Unite sells student buildings for £27.5m
Permalink: Unite sells student buildings for £27.5m
by Lin Freestone
The student accommodation company, Unite, has sold four buildings accommodating students and raised £47.5m in the process.
The company disposed of buildings in Bristol, Portsmouth, Coventry and London. Unite will lease back two of the buildings and run and manage both properties ...
400% increase in commercial property loans defaults
Permalink: 400% increase in commercial property loans defaults
by Lin Freestone
A report published today, which covers 60 institutions representing more than 90% of the commercial property debt market, reveals that the number of commercial property loans in default has risen by 400% in just 12 months.
Although the £250m combined value ...
UK property bargains there for the taking
Permalink: UK property bargains there for the taking
by Lin Freestone
Leading independent property fund manager, Rockspring, has advised reluctant UK investors to stop hoarding cash and scoop up British property bargains following the 17% drop in commercial values since last summer.
It is understood that more than £1bn worth of acquisitions ...
Eco-towns will result in more carbon emissions say FMB
Permalink: Eco-towns will result in more carbon emissions say FMB
by Kay Murchie
The Federation of Master Builders (FMB) has indicated that eco-towns could result in more carbon emissions.
Prime Minister, Gordon Brown, has announced the Government’s intention to build 10 eco-towns in England and Wales with 5 of them built by ...
NatWest provides help for first-time buyers
Permalink: NatWest provides help for first-time buyers
by Kay Murchie
A new savings account has been introduced by NatWest which is aimed at those saving a deposit to get onto the property ladder.
The First Home Saver Account offers a tax-free cashback of up to £5,000 upon completion of a NatWest mortgage.
The ...
May 22, 2008
St Martins pays £400m for City of London office development
Permalink: St Martins pays £400m for City of London office development
by Lin Freestone
British Land has exchanged contracts with international property investment and development company, St Martins, for the iconic Willis Building, at 51 Lime Street and 25 Fenchurch Avenue, in the City of London.
The sale for £400m is ...
FC Exchange sees increase in FTBs buying abroad
Permalink: FC Exchange sees increase in FTBs buying abroad
by Lin Freestone
Currency specialist FC Exchange signed up more people who are planning to buy an overseas property during April and May than at any other time in the past 12 months.
First-time buyers from the UK are increasingly considering investing ...
MPs demand 50,000 new rental properties a year
Permalink: MPs demand 50,000 new rental properties a year
by Gill Montia
A House of Commons report published yesterday calls for a major expansion of the UK's rented homes sector.
The report claims that various governments have favoured owner occupiers over tenants and that the rented sector needs a new image because ...
Buy-to-let benefits from downturn in property sales
Permalink: Buy-to-let benefits from downturn in property sales
by Lin Freestone
In its latest survey of residential lettings, the Royal Institution of Chartered Surveyors (Rics) indicates that the downturn in property sales is having a positive affect on buy-to-let.
The Institute’s survey of residential lettings in the three months to ...
Resilient property values in London’s West End
Permalink: Resilient property values in London’s West End
by Lin Freestone
Great Portland Estates, the landlord which specialises in offices in the West End of London, reports that the value of its property portfolio fell by just 0.2% last year to £1.6bn. This represents a decline of £2.7m.
The firm has benefited ...
Reit conversion under consideration by M&B
Permalink: Reit conversion under consideration by M&B
by Lin Freestone
Mitchells & Butler, the leading operator of managed pubs and pub restaurants in the UK, has formed a new property sub-committee to consider converting to a real estate investment trust, or Reit.
Should such a move be contemplated, it would involve splitting ...
CML predict 7% fall in property prices
Permalink: CML predict 7% fall in property prices
by Kay Murchie
The Council of Mortgage Lenders (CML) are predicting a fall of 7% in house prices this year, this figure is revised from the previous 1% fall they predicted last October.
The CML, which represents Britain's banks and building societies, is ...
May 21, 2008
Plans for £30m commercial and residential development in Bradford
Permalink: Plans for £30m commercial and residential development in Bradford
by Lin Freestone
In a joint venture with Leeds & Regional Properties, Leeds-based developer Landmark Development Projects is proposing to build both commercial and residential accommodation on a disused site in Woodside, south of Bradford city centre.
A planning application for ...
Speculative small business development in Nottingham fully let
Permalink: Speculative small business development in Nottingham fully let
by Lin Freestone
A development of brownfield land in the Bulwell area of Nottingham has created 33 business units, now completed and fully let.
The office and light industrial units in Sandstone Court and Pottery Court, were part funded by the ...
Paragon’s profits drop but remains confident
Permalink: Paragon’s profits drop but remains confident
by Lin Freestone
Buy-to-let lender Paragon has recorded a sharp fall in profits for the first half of the year, but expects a return to market stability in due course.
For the six months to the end of March 2008, pre-tax profits fell by 39% ...
Jones Lang LaSalle predicts return to growth
Permalink: Jones Lang LaSalle predicts return to growth
by Lin Freestone
According to Jones Lang LaSalle’s recent Credit Crunch report, the UK investment market will avoid a recession and return to growth in the next two to three years.
The re-pricing of property which has occurred in the past six to ...
10% fall in value of British Land’s portfolio
Permalink: 10% fall in value of British Land’s portfolio
by Lin Freestone
British Land, the UK's second largest commercial property company, has written down the value of its shops and offices by £1.9bn.
The decline in British Land's property values slowed in the final quarter to the end of March, but ...
Taylor Wimpey to close 13 UK offices
Permalink: Taylor Wimpey to close 13 UK offices
by Kay Murchie
The housing slowdown has been having a devastating affect on housebuilders recently with the latest news being job losses for Taylor Wimpey.
The UK's second-largest housebuilder is to close 13 of its 39 offices across the UK which is expected to ...
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