House prices in areas surrounding Scotland’s top 10 performing state secondary schools are 58% above the average for Scotland as a whole, according to new research from Savills. According to Savills, a huge proportion of buyers cite children’s education as a key factor in their decisions about where to live, and
Armstrong Ceilings has launched Perla OP dB – a tile combining two criteria of acoustic performance. A premium ceiling tile which takes acoustic performance to new heights has been launched by Armstrong. The new Perla OP dB 40mm mineral tile combines the high sound absorption of Armstrong’s OP range with
1. Background Property management companies (or PMCs) are frequently used by residential developers as a mechanism to maintain control of the common parts of a building during development and sale, while enabling the developer to step away entirely once the last unit is sold. PMCs can be equally appealing to
The risk of winter power cuts occurring in the UK could become a thing of the past, according to a submission from the ECA to a House of Commons Energy and Climate Change (ECC) Committee inquiry. The ECA’s input focuses on three core proposals, which have the capacity to substantially
Wokingham Borough Council, advised by Savills, has secured a new 40-year lease with American Amusements Ltd, operators of Wokingham Superbowl, to form part of the Carnival Pool Regeneration Scheme. C J White Associates advised American Amusements Ltd. In 2017 the bowling operator will relocate from its existing premises on Wellington
Groundforce managing director Simon Littlewood has left the company to join competitor MGF. Simon Littlewood spent nearly 20 years with Vp Group, and had been in charge of its excavation shoring division, Groundforce, since 2008. He joins MGF as director and managing director designate. Manchester-based MGF manufactures, hires and sells
Highways England has handed Balfour Beatty a £130m contract to build the new M20 Lorry Park in Kent. The new facility will bring to an end the long-running saga of Operation Stack that turns the M20 into a lorry park every time there are disruptions at the Port of Calais, breakdowns in
House prices in areas surrounding Scotland’s top 10 performing state secondary schools are 58% above the average for Scotland as a whole, according to new research from Savills. According to Savills, a huge proportion of buyers cite children’s education as a key factor in their decisions about where to live, and new research reveals homes near well-performing state schools attract a significant premium. The gap between average residential property prices in areas surrounding Scotland’s top 10 schools and those in Scotland as a whole has widened significantly, from 51% in the year ending June 2015 to 58% in the year ending June 2016. The rise was boosted by two key locations in particular: Park in Glasgow, the location of the Gaelic School Glasgow where prices rose by 18%, and Edinburgh South, where Boroughmuir High School is based and where prices rose by 15%. Faisal Choudhry, Head of Research for Savills in Scotland said: “This is in line with recent research from Savills which revealed that prime city locations have been leading Scotland’s property market recovery, both in terms of price and number of sales. House prices in Houston in Renfrewshire where Gryffe High School is located rose by 5%. Areas around the remaining seven top performing schools remained more or less stable, although the number of sales rose. “Scotland only has 100 independent schools, but many are internationally renowned and educate children, not only from across Scotland but also much further afield. However with average day fees being £10,773 and £27,936 for boarders per child (academic year 2015/2016), it is little wonder that many parents choose to wear the one-off premium to buy in areas where there is a top-performing state secondary school. The decision is also driven by the fact that these hotspots are often also characterised by good communication links and have high quality amenities such as independent shops, restaurants and leisure facilities, all of which are of great appeal to growing families. “ Source link
Armstrong Ceilings has launched Perla OP dB – a tile combining two criteria of acoustic performance. A premium ceiling tile which takes acoustic performance to new heights has been launched by Armstrong. The new Perla OP dB 40mm mineral tile combines the high sound absorption of Armstrong’s OP range with the high sound attenuation of its dB range for ultimate acoustic flexibility. Its launch is designed to help specifiers particularly in the education sector to reduce the amount of sound transferred from traffic routes to learning areas and also to reduce the noise of rain on lightweight roof constructions, an issue also encountered in the office sector. In this area, using the Perla OP dB tile shows a 20dB improvement compared to roof-only construction. It is therefore recommended for use in open-plan and closed-plan spaces where acoustics cannot be compromised, and in particular for spaces such as music rooms, corridors and classrooms, and individual offices and meeting rooms next to open spaces. Performing to sound absorption Class A (aw = 0.90), sound attenuation Dnfw 40 dB and sound reduction (single-pass) Rw 20 dB, the Perla OP dB tile can be mixed with Perla, Perla OP 0.95, Perla OP 1.00 and Perla dB tiles to solve specific acoustic requirements while maintaining the same visual. Comprising 36% recycled content and fully recyclable, it is available as Perla OP dB board in 600mm x 600mm and 1200mm x 600mm, Tegular 600mm x 600mm and MicroLook 90 600mm x 600mm. In addition, the stylish, contemporary Perla OP dB tile provides high light reflectance of 85%, reducing the number of artificial lighting units required, as well as ultra-low VOC emissions for excellent indoor air quality, ISO 5 cleanroom classification and humidity resistance to 95%. Also featuring the new MicroLook 90 edge detail for improved durability, fit and visual, it is available with a 30-year system warranty when installed with Armstrong suspension systems. The Perla OP dB board tile is available as a BIM file from the National BIM library.
1. Background Property management companies (or PMCs) are frequently used by residential developers as a mechanism to maintain control of the common parts of a building during development and sale, while enabling the developer to step away entirely once the last unit is sold. PMCs can be equally appealing to purchasers, enabling them to take control of decisions affecting the common parts. PMCs are not unique entities. They are simply private limited companies with articles of association tailored to provide that only residents (and, for a limited period, the developer) can own a share. 2. How do they work? On incorporation, the developer will typically own a ‘golden share’ which carries with it all voting rights until such time as the last flat in the property is sold. As the developer controls all shareholder votes, it also controls of the board of the PMC. Each time a flat in the new development is sold, the buyer will acquire a share in the PMC, but (in contrast to the golden share) that share has no voting rights until such time as the last flat is sold. Once the last flat is sold, the voting rights attaching to the golden share cease and pass to the shares owned by the residents. At the same time, the developer will expect to resign its nominated directors from the board and for new directors nominated by the residents to be appointed. 3. Common issues Sounds simple? In practice, however, PMCs cause numerous difficulties, attributable either to poor structuring or poor management. These difficulties can impact on the ability of a flat owner to sell his property, and result in significant legal fees in trying to resolve. So what are these difficulties and how are they best avoided? Get the structuring right One size does not fit all… Don’t be tempted to cut down on legal fees by simply replicating the articles of a PMC you have stumbled across before. While the skeleton structure may be the same, each PMC is unique and has been tailored to the property in question. How many shares… Decide whether shares should be allotted on the basis of one share per unit, or dependent on floor space. Allotment v transfer… We recommend that all shares are allotted to the developer at the outset and subsequently transferred, rather than new shares being issued each time a unit is sold. This minimises the administrative burden on the developer, who can pre-sign all the necessary stock transfer forms and certificates, and does away with the need to file an SH01 with Companies House each time a new share is issued. If there is a funder, the shares may need to be allotted to them whilst the loan is in place Ensure control passes effectively Divesting the developer’s share… To ensure the developer can step out cleanly on the sale of the last unit, we recommend the articles provide that the golden share automatically converts to an ordinary share, and is then transferred to the buyer of the last unit (rather than the golden share simply losing its voting rights but remaining as a moribund interest held in perpetuity by the developer). Changing the board… Developers often have difficulty in convincing residents to join the board when control transfers. To avoid this problem, consider inserting an obligation in the lease agreeing that the lessee will become a director on demand, and back this up by requiring the lessee to deliver a signed but undated AP01. Don’t forget the registered address… When control passes to the residents, the registered office (which to that point is typically the developer’s address) will need to be changed. Don’t be tempted to use the generic property address, when paperwork can often go array. Provide the address of a unit at the property, or perhaps use the property manager’s address. Looking forward Keeping up to date… Make sure that the statutory books are kept up to date, so that the share register is updated and a new share certificate issued each time a flat is sold. Trying to track down former owners to cooperate at a later date can be a real head ache and can be a stumbling block for a sale. Use a big stick… Consider a provision in the articles that disenfranchises a member’s shares while it is in breach under the terms of its lease. Keep everyone informed… Make sure directors of the PMC are aware of their statutory obligations and that notice of all meetings is given to all interested parties. Failing to give notice just because someone has ‘never shown interest before’ is not an excuse. If you have any questions or would like to discuss any of the issues further, please contact Victoria Symons: vsymons@brecher.co.uk.
The risk of winter power cuts occurring in the UK could become a thing of the past, according to a submission from the ECA to a House of Commons Energy and Climate Change (ECC) Committee inquiry. The ECA’s input focuses on three core proposals, which have the capacity to substantially mitigate against high energy demand and shift usage away from peak times, namely: Fostering an energy storage revolution across the country, allowing for this stored power from renewable sources to then be deployed at times of peak demand, but at much lower cost; Facilitating a substantial increase in the use of electric vehicles, resulting in power usage shifting primarily to overnight when the vehicles are charged; and Developing plans for a European-wide energy ‘super grid’, that would allow power to be transported across borders to mitigate against high levels of demand. The proposals involve potentially little or no public incentive, as cost savings would result from storing power at cheap rates, and then using and potentially exporting energy at high rates. According to Bill Wright, ECA Head of Energy Solutions: “The risk of power cuts, especially during the winter months, remains a genuine prospect in Britain, particularly given the gradual closure of power stations. The ECA’s vision to revolutionise the energy market could in time lead to these concerns about blackouts becoming a historic relic. “The combination of widespread energy storage, large-scale take-up of electric vehicles and a European-wide ‘super grid’ is a compelling, clean and cost effective programme which could revolutionise the UK energy market.” The submission follows a request by MPs sitting on the ECC Committee for ‘innovations which have the greatest potential to revolutionise energy markets’. The ECA’s chosen criteria for the proposals were: creating economic benefits, ensuring security of supply, scalability and providing clean energy. The proposals come as politicians consider the UK’s Fifth Carbon Budget, which legally commits the government to meet specific carbon reduction targets, as part of efforts to reduce emissions by 80 per cent on 1990 levels by 2050.
Wokingham Borough Council, advised by Savills, has secured a new 40-year lease with American Amusements Ltd, operators of Wokingham Superbowl, to form part of the Carnival Pool Regeneration Scheme. C J White Associates advised American Amusements Ltd. In 2017 the bowling operator will relocate from its existing premises on Wellington Road to new facilities to be constructed, and form part of the leisure complex and 529 space multi storey car park. The new Wokingham Superbowl facility will total 26,000 sq ft (2,500 sq m) at ground and mezzanine floors and will house a state of the art 14 lane tenpin bowling centre, laser quest, soft play, café and amusements. Michael Appleton, managing director of American Amusements Ltd, comments: “We are really excited to be involved in this new regeneration project and have thoroughly enjoyed our close association within the borough over the past 14 years providing a quality leisure offer at the Superbowl.” Councillor Mark Ashwell, executive member for planning and regeneration at Wokingham Borough Council, says: “We were really keen to see the existing Superbowl stay as part of the new Carnival Pool leisure and entertainment offer. They are a great business and have built up a good following in the town. We hope their fantastic new facility will encourage even more people to come along and try out some of the things they have to offer.”
Groundforce managing director Simon Littlewood has left the company to join competitor MGF. Simon Littlewood spent nearly 20 years with Vp Group, and had been in charge of its excavation shoring division, Groundforce, since 2008. He joins MGF as director and managing director designate. Manchester-based MGF manufactures, hires and sells fully engineered excavation shoring systems, confined space entry equipment and pipe stoppers. “I’m delighted to be joining MGF Ltd at an exciting time for the business,” Mr Littlewood said. “It’s reputation in the UK excavation support systems market is very strong, underpinned by an excellent team of people, versatile product portfolio and a growing network of depots. The business is now planning for further growth in its geographical coverage along with expansion of its specialist product range.” Current managing director Gerald Nowicki said: “Simon has a wealth of experience in our sector and his skills and abilities will be invaluable to us as we take our business to the next stage of its growth. Simon was the outstanding candidate to succeed me and our chairman Michael O’Hara and, along with the team at MGF, we are delighted to have him on board.”
Highways England has handed Balfour Beatty a £130m contract to build the new M20 Lorry Park in Kent. The new facility will bring to an end the long-running saga of Operation Stack that turns the M20 into a lorry park every time there are disruptions at the Port of Calais, breakdowns in the Channel tunnel or storms impacting on ferry crossings. The new lorry area will have capacity for approximately 3,600 lorries. Balfour Beatty has been brought in on an early contractor involvement (ECI) basis. The government has yet to sign off the overall £250m project, although it was contained in the chancellor’s 2015 autumn statement. Highways England is looking to a summer 2017 completion date. Balfour Beatty chief executive Leo Quinn said: “Balfour Beatty’s expertise in major infrastructure projects and long standing relationship with Highways England will be crucial for the safe and successful delivery of this project. The M20 lorry area will provide much needed relief to Kent’s road networks while supporting local economic growth and development.”
