September 21, 2017

Scottish government takes vital leap forward on payment

Scottish government takes vital leap forward on payment Published:  04 October, 2016 The Scottish government’s announcement that Project Bank Accounts (PBAs) are to be used as the preferred method for improving payment conditions and speeding up cashflow on all public sector construction projects valued over £4 million has been hailed

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A landlord's Market?

Brexit has heightened the sitting-on-hands approach and not making a firm commitment Rob Hill, from London based residential lettings and management specialists, Greater London Properties, takes a look at the post-referendum state of the capital’s rental market. There have been many miles of column-inches dedicated to house prices

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London Central Portfolio Analyses Central London Property Market

The London Central Portfolio has carried out research into the property market in London. Over the past two years there has been a subdued level of price growth, with buyers adapting to the continuous changes to the residential tax regime as well as political and economic uncertainty that has been

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Sam Spencer Appointed to RICS President’s Panel

Bruton Knowles, the national property consultancy company has been established for more than 150 years. The company has 13 different offices around the UK including Manchester, London, Gloucester, Bristol, Leeds, Shrewsbury and Cardiff. The company’s Nottingham-based property consultant, Sam Spencer has been appointed to the President’s Panel of the Royal

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Q-Bot Raises Funds to Expand to Underfloor Insulation Business

The leading development company in the UK for robots that utilised in the construction industry has agreed an investment of approximately £450,000. This investment round has been supported by ClearlySo, Minerva Investors Group, Curious Capital, London Business Angels and Chicago Booth Angels. This investment will now be leveraged by the

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Smart-Space Announced Completion of Bolt Building Supplies Warehouse

One of the UK’s leading manufacturers and installers of temporary, semi-permanent and permanent buildings, Smart-Space has announced the completion of construction work for Bolt Building Supplies. The construction work completed has delivered a fully insulated, permanent workshop at the builder’s and timber merchant’s headquarters which are located in Halstead in

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Latest Issue
Issue 323 : Dec 2024

September 21, 2017

Scottish government takes vital leap forward on payment

Scottish government takes vital leap forward on payment Published:  04 October, 2016 The Scottish government’s announcement that Project Bank Accounts (PBAs) are to be used as the preferred method for improving payment conditions and speeding up cashflow on all public sector construction projects valued over £4 million has been hailed as a major step towards greater financial stability for the industry. Derek Mackay, Scotland’s Cabinet Secretary for Finance, announced that this method of protecting payment to sub-contractors in construction supply chains will be imposed on all projects procured by Scottish government departments from 31 October this year. The Building Engineering Services Association (BESA), which represents specialist engineering contractors and was heavily involved in the campaign to have PBAs introduced, congratulated Mr Mackay and called for the rest of the UK to follow suit by implementing a policy that could improve financial conditions for the whole construction sector. “Unfair and abusive payment practices have been a blight on the construction process for decades,” said BESA chief executive Paul McLaughlin. “The Scottish government should be roundly praised for taking a bold step to remove one of the barriers to efficient project delivery.” PBAs are a cash disbursement model that allows money to be ring-fenced in bank accounts from which payments are made directly to suppliers. This reduces the risk of contractor insolvency and the consequent disruption to projects. It also cuts out much of the additional cost of risk pricing and debt management associated with having multiple layers of payment within the contractual chain. PBA payments can be made within as little as 12 days and, once in the account, the monies are protected from upstream insolvencies and unfair delays. Public Highways England and the Environment Agency have been using this method for some time and, on average; ‘Tier 3’ sub-contractors on their projects are paid within 19 days. “Security of payment allows firms to invest in the skills and processes they need to improve productivity and fund growth,” added Mr McLaughlin. “By improving cash flow through the supply chain, project clients can also be assured of a more cohesive, harmonious and, therefore, efficient project process.” He also called for the introduction of digital payment platforms as the next step in the process of “remedying endemic industry payment problems”. This, he said, would give SMEs the reassurance of transparent and legislatively compliant payment processes supported by electronic banking; allowing them “to plan for the future with greater confidence and commercial stability”. Scotland’s First Minister Nicola Sturgeon was an early supporter of PBAs and launched a government trial of the payment mechanism in 2013 when she was deputy to Alex Salmond. This led to a recommendation of their use in Scotland’s wide ranging Review of Public Sector Construction Procurement. Source link

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A landlord's Market?

Brexit has heightened the sitting-on-hands approach and not making a firm commitment Rob Hill, from London based residential lettings and management specialists, Greater London Properties, takes a look at the post-referendum state of the capital’s rental market. There have been many miles of column-inches dedicated to house prices since the Brexit result.  Some senstantionalist articles about properties that previously were asking £1,000,000 dropping to £900,000 and talk of a crisis. One thing that does seem to be lost on a number of journalists is that asking prices often do not reflect the real market value; the property was never worth that price in the first place.   The original asking price is part of a frustrating common theme of agents over-valuating to win instructions with the hope of getting the vendor to chip the price during a long sole agency.  The majority of vendors are rightly or wrongly delighted with the valuation and whole-heartedly agree since he/she is already convinced due to an online valuation they undertook pitched their property high, as well as a neighbour down the road putting their property on for similar. In addition, London’s media discussing the crazy London housing prices fuels this. It’s far too early to comment on the impact of Brexit on London property prices, as there are so many factors that could either drive down or increase them in certain sectors. The market of properties valued in excess of £2,000,0000 is not as active, but in prime Central London this is not due to Brexit –  it’s been happening for some time.  The increase in available stock and the limited pool of applicants who can afford this, coupled with the 3% stamp duty surcharge, are the drivers of this. One thing that we can report is an increase in, to coin a term, “Brental”.  All this speculation, government upheaval and uncertainty has lead to a surge in buyers switching to becoming rental applicants.  Why not rent and see if prices fall?  Since the announcement of the stamp duty changes in the autumn statement we can report a 54% increase in applicants with a rental budget of £1000 per week and above.  This, to me, in some cases make sense. If you were considering buying a £2,000,000 flat in Central London as a first time buyer you would pay £153,750 or 7.7% of the property value, this rises to £213,750 or 10.7% if you already own a property.  The more expensive the property the more costly the stamp duty and in particular for second home owners.  If you need to sell in a couple of years and have paid 10.7% in stamp duty would you even break even? It’s certainly a question that is worth asking – renting a property for even £100,000 per annum could well make sense. Brexit has heightened the sitting-on-hands approach and not making a firm commitment –  after all, if you rent a flat it’s a temporary agreement that in most cases you can break after only six months. Granted, July is the start of silly season in Central London for letting agents and it’s normal to see an increase in applicants registering, but we are hearing from a number of buyers that they plan to rent now for a year or two to see if there is a price correction. Now is the time to become a landlord it seems! Source link

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London Central Portfolio Analyses Central London Property Market

The London Central Portfolio has carried out research into the property market in London. Over the past two years there has been a subdued level of price growth, with buyers adapting to the continuous changes to the residential tax regime as well as political and economic uncertainty that has been cause by Brexit and two General Elections taking place in quick succession. The residential market in Prime Central London has seen an upturn during this year’s second quarter. The Land Registry data has shown that average house prices have reached £1.9 million after experiencing a quarterly growth of 5.8%. This growth has also been boosted by a small number of high value sales. However, this research has also shown that the number of transaction have stayed at very low levels. The Land Registry have noted that there have been 3,750 sales over the course of the last 12 months. This means that the price of the sales has led to the data demonstrating growth as opposed to an increase in the number of sales taking place. The research carried out by the London Central Portfolio, or LAP has shown that homebuyers appear to be more attracted to luxury properties that have been discounted, with 45% of purchases taking place in Prime Central London in this category. There has also been an increase in the number of luxury sales, with more properties being sold in the £5 – £10 million bracket. Activity has been significantly slower in the £1 million an under price category, with the sector seeing a 9.4% decrease and the majority of the purchases carried out by buy to let investors. Investors have demonstrated a wait and see plan of action, whereas buyers are looking more and more for trophy heritage property when possible that has been priced higher than their budget in the past.

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Sam Spencer Appointed to RICS President’s Panel

Bruton Knowles, the national property consultancy company has been established for more than 150 years. The company has 13 different offices around the UK including Manchester, London, Gloucester, Bristol, Leeds, Shrewsbury and Cardiff. The company’s Nottingham-based property consultant, Sam Spencer has been appointed to the President’s Panel of the Royal Institution of Chartered Surveyors, or RICS. The RICS President’s Panel has appointed Sam Spencer, who will ow be working with the other members of the panel in order to offer resolutions for land and property industry disputes. It is a great achievement for Sam to be appointed to this panel, and Sam will be able to offer the expertise that he has developed over the course of his career. Sam Spencer is a Bruton Knowles expert who has specialist knowledge in sales, acquisitions, management agreements and business and property valuations. Sam also has experience as a Chartered Surveyor and Registered Valuer. On top of this already impressive CV, Sam also has over 20 years of experience working in the hospitality, leisure and healthcare property sectors. The appointment to RICS President’s Panel is a coveted opportunity and illustrates the hard work and experience that has been gained by Sam Spencer. Bruton Knowles will also benefit from this appointment has they will have one of the most highly regarded specialists in the industry as a member of their team. Sam has a vast knowledge of the commercial and investment sector as well as having specialist knowledge of alternative-use developments. This knowledge will be an asset to the President’s Panel and will help to support and inform decisions made during litigation and other judicial proceedings. The appointment has come after a comprehensive interview process which allowed him to demonstrate his market knowledge, which is of a high quality and will be essential as a part of the Dispute Resolution Service on the RICS panel.

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Q-Bot Raises Funds to Expand to Underfloor Insulation Business

The leading development company in the UK for robots that utilised in the construction industry has agreed an investment of approximately £450,000. This investment round has been supported by ClearlySo, Minerva Investors Group, Curious Capital, London Business Angels and Chicago Booth Angels. This investment will now be leveraged by the company with the £1,050,000 funding that has been delivered by the EU Commission’s Horizon 2020 program. This means that the total funding acquired by Q-Bot now stands at £1.5 million. The funds that have been generated by Q-Bot will be used to allow the company to rollout the world’s first affordable and completely scalable solution for under floor insulation. This is an exciting time for Q-Bot with plans to increase their growth in the UK which will allow the company to expand into new markets. ClearlySo, one of the funding supporters have expressed their pride at being able to help the company raise the right amount of funds to support the next stage of their business as well as helping to improve energy efficiency, and cutting fuel poverty for a number of customers in the UK and beyond. It has been calculated that around 10 million homes are in need of under floor insulation in the UK alone. When this information is widened to incorporate Northern Europe and the US, it becomes apparent that there is a huge market for more scalable solutions and approaches in order to retrofit insulation. Q-Bot has developed an innovative robotic device that can be deployed through a small opening and then survey and map out the space. The robots can also be used to apply insulation in situ and the validate that the job is complete. This is an innovative new approach that can upgrade cold and draughty properties, transforming them into warm and cosy properties and reducing energy bills.

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Smart-Space Announced Completion of Bolt Building Supplies Warehouse

One of the UK’s leading manufacturers and installers of temporary, semi-permanent and permanent buildings, Smart-Space has announced the completion of construction work for Bolt Building Supplies. The construction work completed has delivered a fully insulated, permanent workshop at the builder’s and timber merchant’s headquarters which are located in Halstead in Essex. The building is a 34.5-meter by 18.5-meter steel fabricated structure that consists of composite walls and 100mm roof cladding. The Smart-Space building has also been fitted with skylights. The workshop will be used by Bolt Building Supplies for the production of I-beams in order to help to meet the increasing demand seen for engineering flooring systems from construction companies operating in the South East of England. Moving their production if I-beams on to site will allow Bolt Building Supplies to better meet their customer’s requirements and offer a wider selection of products as the need for I-beams across the industry. Smart-Space focuses on delivering cost-effective building solutions for a wide range of industrial and commercial uses. The company constructs solutions that are lightweight and modular; featuring lighting, heat, power and other mechanical services when required by the customer. The builders and timber merchant company are moving their design and production of these I-beams on to their site in order to assist their customers with new build projects taking place across the region. It was important for the company that the new warehouse was up and running as soon as possible, therefore Smart-Space offered the most suitable solution. The full design and build project took around 14 weeks from start to finish and the final warehouse is of excellent quality. The Smart-Space team have been commended for their work on the site as efficiently as possible while also not having an adverse impact on the day to day activities of the busy Essex site.

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Discover the Ceramic Safety Knives That will Make Your Company Save a Lot of Money

There are some ceramic safety knives that you probably did not know until now and that will make your company become a safer place. And why not, your home too. You will surely think this is absurd, as if a simple box cutter could make a big difference, but it surely can. Using these safe knives developed by Slice, the chances that your employees having accidents by cutting themselves will be reduced. We will demonstrate you how this is possible. Using these ceramic safety knives and other appliances that Slice offers, you won’t have to worry about accidents anymore. You will even save money on the expenses or compensations of health care coverages. Therefore, you will make your company save a lot of money! Get Yourself Convinced If you do not believe us, just take a look at the descriptions on the videos available on the official website of the company. You will be able to find all the properties that safety box cutters have. Every detail has been perfectly thought out. From the shape of the knife -ideal for keeping the hand of the user always protected- up to the material and design of the blade, which is much more sharp, durable and resistant. The pottery gives you many more benefits than you think. In addition, as it is a very strong material, it can last longer than conventional blades. Its chemical nature makes it a bad conductor of electricity and they cannot produce any spark, as it happens with metals. Consequently, these ceramic safety knives, will help you create a more secure place to work from any point of view. Slice produces the best box cutters, made with ceramics and the best of technologies, focused always on safety. In addition, they are focused on much more efficient blades to cut cardboard without worrying because the edge doesn’t wear down as fast as with steel cutters, among other benefits. A very useful tool Safe ceramic knives are a practical and very useful tools that are often used in many companies, where they are constantly receiving and sending packages. These packages come regularly well packaged. The shape and size of Slice box cutters have the exact size to penetrate cardboard is used in this type of boxes. Work safety with the best equipment You surely wonder how these safe ceramic knives can guarantee a greater job security, and the answer is very simple. Just look at the design of the handle and the ceramic leaf to understand that this company has taken his work very seriously. And  above all, the have invested in a great way in technology and innovation to bring you a truly useful tool. Do not miss out on trying some of the options the offer. To know more about these wonderful and innovative products, you can access their official website where you will find the description of all their products in detail.

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