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May 20, 2019

Zinsser, Perfecting Paints and Primers for 170 years

Zinsser, the brand famous for solving painting and decorating problems, celebrates 170 years of producing industry leading paints, primers and removal solutions. The Zinsser brand was originally created in 1849, when William Zinsser set up the United States’ first shellac beaching plant on Manhattan’s west side and introduced shellac paint

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Japan’s Largest Homebuilder Comes to the UK

Set to enter the UK market is Japan’s largest homebuilder – Sekisui House -, which has already formed a partnership with Homes England and Urban Splash. “Sekisui House bring with them a proven track record in harnessing the modern methods of construction that are transforming home building. Backed by Government

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Tradespeople still not up to speed with smart home technology

A poll carried out by IronmongeryDirect, the UK’s largest online supplier of ironmongery, has found that despite the ever-growing popularity of smart home products, many tradespeople are still unprepared for the increasing customer demand. The poll, which was conducted in the lead up to Smart Home Week (20- 26 May),

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WENTWORTH WOODHOUSE RESTORATION ROOF INSTALLATION BEGINS

A MAJOR milestone has been reached in the restoration of South Yorkshire’s Grade I listed Wentworth Woodhouse with 10,000 square metres of scaffolding encasing the stately home. Woodhead Group, experts in heritage and conservation, has been appointed by Wentworth Woodhouse Preservation Trust to carry out the repair, restoration and replacement

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HMRC ANTI-FRAUD CRACKDOWN SET TO HIT CONSTRUCTION FIRMS’ CASHFLOWS

New “reverse charge”  will reduce firms’ working capital says Clarke Willmott UK construction companies face financial disruption when new anti-fraud VAT legislation comes into force in October. The new legislation seeks to combat what the government describes as an attack on the VAT system by “organised criminal gangs”. “The new

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Futureal sells Advance Tower to Erste Real Estate Fund

Property developer Futureal Group has sold its Advance Tower located on the Váci road office corridor to Erste Real Estate Fund. This is the first transaction in the Hungarian market, which includes a WELL pre-qualified office building having a beneficial impact on employees’ health and comfort. The real estate fund

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Why You Should Do Tenant Screening

Whether you are a landlord or a lease agent, there should be no rush in entering into a lease contract when you are just starting to talk with a prospective tenant. Due diligence should be observed when trying to deal with a prospective tenant; otherwise, you may risk ending up

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Latest Issue

BDC 317 : Jun 2024

May 20, 2019

Zinsser, Perfecting Paints and Primers for 170 years

Zinsser, the brand famous for solving painting and decorating problems, celebrates 170 years of producing industry leading paints, primers and removal solutions. The Zinsser brand was originally created in 1849, when William Zinsser set up the United States’ first shellac beaching plant on Manhattan’s west side and introduced shellac paint products to the US market. Zinsser now manufactures its range of UK products in County Durham and has remained true to William Zinsser’s principals of quality and innovation by continuously producing world-class, professional quality and fast-drying formulas that make problem solving simple. Whether you’ve got graffiti to cover up, fire damage, or a big issue with mould and mildew, Zinsser products are the muscle you need to wipe out all decorating nightmares in the home or on commercial projects, quickly and for good. The Zinsser range of products include professional coatings for interior and exterior use and each of Zinsser’s paints, primers and removal solutions can be depended upon to do the job right, making the brand a must-have in any decorators van and a top-seller for paint merchants. One of Zinsser’s most popular products which has never been matched or bettered is B-I-N®, the original shellac-base primer-sealer. This “silver bullet” primer, sealer and stain killer offers unparalleled adhesion to glossy surfaces, dries in just 15 minutes and is recoatable in 45 minutes, saving both time and money. B-I-N’s unique formula gives it unsurpassed stain-killing power and covers everything unwanted, from water damage, to fire damage and more. It’s the best primer for sealing interior wood and is the “go to” for spot priming knots or sap streaks inside and out, making it a key staple in any decorators van. A newer customer favourite in the range is Zinsser AllCoat Exterior, available in Matt, Satin and Gloss finishes. This clever paint offers resistance to mould, cracking, blistering and flaking as well as rain and severe weather. Suitable for use with all exterior surfaces, such as wood, metal, masonry, plastic concrete and cladding, it forms a low-maintenance water-shedding coating in one hour and can be painted with a second coat after one hour. This self-priming paint is another superior product that enables jobs to be completed quickly, efficiently and brilliantly. As Zinsser AllCoat Exteriorpaint can be matched to any RAL / BS or NCS colour reference, including designer colours. Alongside an outstanding problem solving product range, Zinsser also ensures decorators and DIYers are armed with the correct knowledge to use products efficiently, ensuring each job is competed correctly. The Zinsser Pocket Guide, which is available as an app and printed book, is packed with expert advice on primers and finishing substrates, with detailed guidance and specialist product recommendations. Zinsser’s UK-based Technical Support team are on hand to answer any questions and offer expert advice. They can quickly tell you which product is best suited to a job, give advice on the best method of application and help establish how much paint is needed. Zinsser’s UK based specification service is also available free of charge, often working with professional specifiers, architects, maintenance managers, FM companies, property owners and professional on-site spray contractors to solve a wide variety of painting problems. The experienced team helps at every stage of a project, from initial survey through to specification and application of coatings, providing on-site advice, training and technical assistance.

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Japan’s Largest Homebuilder Comes to the UK

Set to enter the UK market is Japan’s largest homebuilder – Sekisui House -, which has already formed a partnership with Homes England and Urban Splash. “Sekisui House bring with them a proven track record in harnessing the modern methods of construction that are transforming home building. Backed by Government investment, today’s announcement will support our urgent mission to deliver more, better and faster home construction to ensure a new generation can realise the dream of home ownership,” said Kit Malthouse MP, Minister of State for Housing. The homebuilder will be investing £90 million out of which £55 million will go into regeneration company Urban Splash’s ‘House’ development business. This provides a significant boost to the UK’s modular housing industry and will help to speed up production of much needed new homes. “We are extremely pleased to be able to work together with Homes England and Urban Splash to establish our operations and help to create outstanding communities in the UK. Using modern methods of construction to build high quality homes with short build times is one of our company’s great strengths. Our technology and know-how can help resolve pressing social issues in the UK, and I want to see us play our part effective immediately. These operations can also help bring vitality to UK regions, and we will work to make the strongest connections with the local communities,” added Yoshihiro Nakai, President and Representative Director of Sekisui House Ltd.

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Tradespeople still not up to speed with smart home technology

A poll carried out by IronmongeryDirect, the UK’s largest online supplier of ironmongery, has found that despite the ever-growing popularity of smart home products, many tradespeople are still unprepared for the increasing customer demand. The poll, which was conducted in the lead up to Smart Home Week (20- 26 May), found that 82% of tradespeople have never undertaken any form of training in smart home technology. This figure remains largely unchanged following results from the same poll in 2018. Research has shown that 40% of UK homeowners now own at least one smart home product, a rise of 13% on the previous year[1]. However, despite continued growth, the number of tradespeople improving their knowledge and skills in this area remains disproportionately low. This is backed up by previous national research carried out by the leading online ironmongery supplier, which showed that almost 90% of tradespeople are not confident when advising customers on smart products. Now in its third year, Smart Home Week aims to raise the profile of smart home technology and to inform, educate and reassure consumers about the benefits and opportunities of living in a smart, connected way. Wayne Lysaght-Mason, Managing Director of IronmongeryDirect, said: “We’re living in the age of rapid technological development, and it’s easy to see why people are investing in smart technology to bring comfort, convenience and added security to their homes. However, with a huge range of smart devices available, and new products being developed all the time, it is important that tradespeople do their research and make a conscious effort to stay up to date on the latest news and trends surrounding smart home technology. “There is of course still a demand for traditional products, but these new smart alternatives should not be ignored. There are some brilliant products currently on the market, whether you want to specialise in lighting, heating, security or household appliances.” IronmongeryDirect stocks a variety of products including the Yale® Conexis L1 Multipoint Smart Lock, which eradicates the need for a physical key, the Burg Wachter BURGprotect Alarm Kit 2200, which can send a notification to a connected smartphone within seconds of a break-in or smoke being detected and the  Yale® Smart Home CCTV Kit, which allows homeowners to view footage remotely in real-time via an app, wherever they are in the world. The customer service team are available from 7am-8pm 7 days a week and can help with any questions or queries tradespeople may have about smart home technology. IronmongeryDirect has over 17,500 products available and in stock. Orders can be placed as late as 8pm for next day delivery from Sunday through to Friday and by 4pm on Saturdays. Free, no quibble returns are available on all products. For more information, visit IronmongeryDirect.com or call their team of specialist advisors on 0800 168 28 28.  

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WENTWORTH WOODHOUSE RESTORATION ROOF INSTALLATION BEGINS

A MAJOR milestone has been reached in the restoration of South Yorkshire’s Grade I listed Wentworth Woodhouse with 10,000 square metres of scaffolding encasing the stately home. Woodhead Group, experts in heritage and conservation, has been appointed by Wentworth Woodhouse Preservation Trust to carry out the repair, restoration and replacement of the building’s 1,486 square metre roof as part of its 25-year masterplan. A bespoke scaffolding solution is being put in place by subcontractors Lyndon SGB to provide a temporary roof to protect the building during the conservation works. Most of the building’s East Front is now shrouded in a steel scaffold shell. Public access areas are also being created so visitors will soon be able to view the works taking place and the mansion house can remain open over the two-year project. It will take up to three months to fully install the scaffolding which will reach 30 metres in height – as high as six double decker busses. The scaffolding will incorporate almost 300 stairs and two specialist accessible lifts for use by the public when installation is completed, which will reach 18 metres high. Tom Woodhead from Woodhead Group said: “This project requires an exceptional collaborative approach with our scaffolding sub-contractors, Lyndon SGB, architects Donald Insall Associates and consultants to design and install such a complex scaffold system.” The scaffolding will comprise approximately 700 tonnes and 500 linear metres of scaffolding poles and 6,000 planks, and is being installed by up to ten technicians per day over the three-month period. Jonathan O’Connor, general manager for Lyndon SGB added: “We’ve been operating across the UK for 100 years and are familiar with creating tailored access solutions for all sorts of buildings and applications. Our team has been working in collaboration with Woodhead Group to progress the scheme which will ultimately allow Wentworth Woodhouse to continue to welcome visitors. Sarah McLeod, CEO at Wentworth Woodhouse Preservation Trust commented: “This much-loved property is one of the largest historic country houses in Europe with some 365 rooms.  We needed a contractor who understood the complexities of working on a live site and had a strong track record of successfully restoring buildings from a similar era. Thanks to their approach, the mansion can remain open to the public and in addition we will soon be able to provide a rare opportunity of roof-top access for visitors while work is taking place.” Woodhead Group’s work will also include some remedial repairs and conservation to the interiors, including the oak staircase and the eastern section of the Long Gallery. The repairs are being supported with over £7 million of Government funding through Historic England. Giles Proctor of Historic England said: “We are delighted to be involved with such a transformative project, which will greatly increase public access to this wonderful building, including during the works.”

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HMRC ANTI-FRAUD CRACKDOWN SET TO HIT CONSTRUCTION FIRMS’ CASHFLOWS

New “reverse charge”  will reduce firms’ working capital says Clarke Willmott UK construction companies face financial disruption when new anti-fraud VAT legislation comes into force in October. The new legislation seeks to combat what the government describes as an attack on the VAT system by “organised criminal gangs”. “The new VAT reverse charge for the construction industry is intended to tackle the issue of construction employers and contractors paying fees for works and services plus VAT, and then that VAT not being paid to HMRC in its entirety,” said Zoe Stollard, partner at national law firm Clarke Willmott specialising in the construction industry. Under the new rules, the company receiving the services may be required to account for the VAT itself, rather than paying the VAT to the supplier. “While anything that stops unscrupulous traders from effectively stealing VAT is to be applauded, it should also be noted that the new law’s implementation is going to have serious consequences for all construction firms whether they operate within the rules or not,” continued Zoe Stollard. “For example, construction businesses which make an onward supply of construction services themselves will be forced to adapt their existing accounting systems to process this reverse charge which could well create cash flow issues, especially as they can no longer use the VAT collected from customers as working capital before it is paid to HMRC.” Clarke Willmott and accountancy firm Milsted Langdon have been holding seminars to alert construction firms about the coming legislation and highlighting what it could mean to their financial position. Julian Borley, Milsted Langdon’s Director of VAT, said: “HMRC believe that organised criminal gangs are exploiting the current rules. “They provide the construction works to bona fide contracting business and are paid for their services plus VAT. “However, the VAT collected is not paid to HMRC and the fraudulent business disappears before HMRC realise that there is an issue. “This presents a risk to the genuine business as HMRC’s only recourse is to argue that the amount charged by the fraudulent business is not actually VAT and cannot therefore be recovered by the genuine business.” Zoe Stollard explained that one of the unintended consequences of the new rules is that it will be detrimental to most sub-contractors’ cash flows. “The tax point for construction services usually means that contractors are paid the VAT on their services before they have to pay the VAT to HMRC,” she said. “Most businesses have to account for VAT on a quarterly basis, meaning some businesses have been paid VAT up to three months before it is due to be paid to HMRC.” “It is common practice within the industry for this money to be used to buy building materials and pay for expenditure.” “Businesses further down the supply chain need to realise that this benefit will be taken away from them with the introduction of the reverse charge.” Julian Borley added: “There are just five months to go until this new law is brought in by HMRC and, even though there will be a settling in period, it is vital for construction companies to start preparing for this important change to their working practices and, where at all possible, take appropriate professional advice.” If you’re under VAT investigation get in touch with Cooper Parry for advice. 

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Futureal sells Advance Tower to Erste Real Estate Fund

Property developer Futureal Group has sold its Advance Tower located on the Váci road office corridor to Erste Real Estate Fund. This is the first transaction in the Hungarian market, which includes a WELL pre-qualified office building having a beneficial impact on employees’ health and comfort. The real estate fund has acquired the first phase of the complex developed by the group, while the second phase could join its portfolio under a forward deal. The first phase of the Advance Tower has already been occupied by tenants with 1,400 employees last year. The 8-storey, category “A” office building has been chosen by prestigious companies such as KPMG Global Services consulting company and Thermo Fisher Scientific, the world’s leader in serving science. The second phase with a GLA of 8,000 sq m will expand the complex to a total GLA of over 20,000 sq m, handover is expected in the second half of 2019. The transaction of the first phase of Advance Tower was completed in April this year, and the parties entered into a pre-agreement to purchase the second phase. Advance Tower has been awarded BREEAM certificates and the office complex has been designed and will be operated according to the WELL Building Standard™. Futureal Group is the first European property developer with three projects receiving WELL Platinum Precertification at the same time. The purpose of the WELL certification is to create office buildings that, in addition to protecting the environment, have a beneficial impact on employees’ health, well-being and comfort. Washington-based International Well Building Institute’s system examines buildings’ impact on the human body, health and wellbeing, rating them based on 7 categories – air, water, opportunities for healthy nourishment, natural light, fitness, comfort and mental freshness. “With the current transaction, we are realizing the second successful deal with Erste Investment Fund. The acquisition of Vision Towers and Advance Tower proves the high standard of quality of Futureal Group’s developments that we will continue to guarantee for our partners in the future. Futureal Group has been committed to developing all of its future office buildings according to WELL Building standards, since the health of the employees working in the building must be a key priority during planning,” said Tibor Tatár, CEO of Futureal. “The recent agreement is a new milestone in a tried and tested professional relationship that will further strengthen our unique real estate portfolio. State of art solutions provided by Advance Tower and its international tenant portfolio provide us with innovation and stability for long-term,” stressed Balázs Pázmány, Chairman of the Managing Board at Erste Asset Management Ltd.  

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Why You Should Do Tenant Screening

Whether you are a landlord or a lease agent, there should be no rush in entering into a lease contract when you are just starting to talk with a prospective tenant. Due diligence should be observed when trying to deal with a prospective tenant; otherwise, you may risk ending up with a lease agreement which is pre-terminated, and worse, having unsettled rental payments. It would be wise and beneficial if you would be able to invest in tenant screening services to protect or secure your rented properties so that you will be able to gauge whether or not it will be favourable for you to enter such tenancy agreement with that certain prospective tenant or lessee. It is also critically important that you have tenants that you know will be able to pay monthly rent on time, preserve the property that you have rented him or her, as well as be admirable residents, too. Though it might not appear necessary to take the time to screen those tenant applicants comprehensively, failure to do so would later on cost you significant time and expense. If you hastily decide to accept money from a prospective tenant that has cash on hand and ready to pay you right then and there, it might end up backfiring on you. It might also be a huge mistake if you just approve a tenant basing on his or her job just because you are very keen to lease out the property. It does not always mean that if the tenant applicant has a job then he or she has a good rental history. It does not also indicate that because the applicant has the deposit readily available, that he or she is a good payer and that he or she does not have any criminal record. As a landlord, a set of tenant screening considerations will help make sure that your tenant would not contribute to your neighbourhood’s crime rate. Having a tenant screened or doing a background check on the applicant will enable to fully verify and confirm that the person is representing himself or herself truthfully. This way, you would be assured that you are not turning a blind eye on potential dangers that might harm you, the neighbours and your property. It is also really vital to carry out credit checks because most, if not all, landlords would never want to negotiate with someone who does not have good credit scores. Although nobody can stop you from contracting with those with bad credit, this could actually expose you from the chances of having late rental payments, or even worse, wasting time and effort in going after the lessee because he or she just suddenly disappears. In the long run, it might also mess up your credit score because you might not be able to fulfil your own credit obligations because your tenant or lessee did not pay on time. It would be best to know the financial capability of your tenant because it will provide you the certainty that said tenant is capable of paying his or her rent. With having this tenant screening, you are now discouraging those with bad credit scores from renting out your property which is actually beneficial for the business. In addition, if you are the owner of the properties being rented out, naturally you would only want to enter in a contract with tenants that you are confident with that can take care of your rented property – as if it was their own. By screening out tenants, you will then have an insight on the way that certain lessee’s capability to carry out adequate care of your property. Doing background check will let you be aware of future problems such as history of substance abuse or the tenant being a part of a terrorist group. It is quite obvious that dealing with and being connected with these types of people will do no good, not only to your rented property, but also to you, as the landlord, and to your business. Doing tenant screening will aid you in revealing red flags about the tenant applicant before even entering to an agreement to lease your property. In planning to avail tenant screening services, you should evaluate first which provider would be best to suit your needs. Since you are the primary owner and you know your business quite well, it would not be hard for you to come up with factors and standards which you think are acceptable or unacceptable when looking for tenants. Although there are already several online tenant screening services providers, these providers just typically use only computerized databases to run background checks, making it more likely that only those readily available information such as credit histories and criminal records will be checked. This would then tend to leave out other investigative options that would necessitate talking with old landlords and other references. Moreover, online tenant screening services only check a number of databases for each person; therefore, they will simply tell you that the tenant is cleared for the background check if nothing turns up. On the other hand, a competent investigator will give you more detailed information about the tenant applicant if the standard background check does not turn up anything. Although hiring an investigator is recommended to do a thorough background check, it is still not for everyone. It is an alternative choice which is more detailed and complete but, also, far more costly than doing online background checks. So it would be best to consider closely regarding all the possible risks you would take and your investment’s perceived value. Hiring an investigator is perhaps the preferred option for those long-term lease agreement, business and top-notch rental properties who would want a thorough and complete background check for potential tenants. It is certainly not an easy feat to find the perfect tenant for your rental property, which is also one of the reasons why a lot of landlords would choose

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