GMI Construction Group has marked a significant milestone in the delivery of the North East’s first Dakota Hotel by hosting a steel signing ceremony. The erection of the steel marks a crucial phase in the transformation of the vacant St Anne’s Wharf building on Newcastle’s vibrant Quayside into a 118-room
The Royal Institute of British Architects (RIBA) has published its latest set of horizon scans, spotlighting trends in global population change that will shape society and the built environment over the next ten years. Shifting patterns in births, deaths and migration are reshaping communities. The world faces ageing populations, swelling
BRISTOL: The redevelopment of a 2.5-acre site in the heart of Bristol has reached a key milestone after main contractor Winvic Construction Ltd celebrated topping out at the mixed-used Redcliff Quarter scheme. Grainger plc, the UK’s largest listed residential landlord, announced in 2022 that it had exchanged conditional contracts to
Work has started on site to transform an iconic, Grade II listed former British Waterways warehouse on the canal side area at Castle Wharf, in Nottingham into a high quality, build-to-rent residential scheme. The £13 million project is being developed in partnership with The Canal River Trust, H2Ourban and bloc.
Peabody and Crest Nicholson have formed a new joint venture to deliver hundreds of much-needed new homes in Brackley, Northamptonshire. The partnership between not-for-profit housing association Peabody and housebuilder Crest Nicholson will provide circa 405 high quality, energy efficient homes off Turweston Road. The 34-acre site will include one- and
New development to bring over £358k in community improvements to benefit local people Local housebuilder Story Homes has been granted permission from Cumberland Council to build 112 much-needed new homes on land south of the A69 in Scotby, Carlisle. Cumberland Council’s Planning Committee met on Wednesday 5 June to consider
SevenHomes, the regional housebuilder by SevenCapital Group, has appointed Richard Hodson as Planning Director. Richard previously joined the business’ planning team in 2022 and has since played an integral role in developing and delivering SevenHomes’ full planning strategy, from the acquisition of new sites amassing to a pipeline of nearly
The Microsoft Industry Cloud for House Builders revolutionizes the UK’s residential construction sector, offering unparalleled efficiency, visibility, and growth potential. sa.global, the leading Microsoft partner for the house building industry, announces the launch of the Microsoft Industry Cloud for House Builders in the United Kingdom. This groundbreaking offering is designed
When it comes to maintaining your home, one of the most overlooked yet critical components is the gutter system. Guttering is responsible for directing rainwater away from your house, protecting it from water damage, mold, and mildew. Over time, even the most robust gutter systems can deteriorate due to exposure
A Laneway home is a detachable structure built on your main residential property. The laneway home faces the lane. In case there is no lane, the house is called a garden suite or coach house. Building a laneway home has many benefits. It increases the value of your property, which
BDC 318 : Jul 2024
GMI Construction Group has marked a significant milestone in the delivery of the North East’s first Dakota Hotel by hosting a steel signing ceremony. The erection of the steel marks a crucial phase in the transformation of the vacant St Anne’s Wharf building on Newcastle’s vibrant Quayside into a 118-room luxury boutique hotel. Attended by key stakeholders and project team members, the ceremony highlighted the collaborative effort and commitment to excellence which defines the project. Dakota Hotel Newcastle will generate 150 new jobs and provide an additional 65,000 visitor nights per year – creating an estimated £1.5m boost to the local economy. Much of the building’s current features and details will be retained to complement its architectural heritage, with a number of exciting additions, including a new-look entrance lobby, reception and signature ground floor Bar & Grill. An existing courtyard is being reconfigured to create a vehicle drop off area, while the first floor will feature bedroom terraces. PV panels and Air Source Heat Pumps will be installed to provide renewable energy. Construction of Dakota Hotel Newcastle is on schedule, with completion anticipated for Spring 2025. The project sees GMI continue its strong relationship with developer Evans Property Group’s Dakota brand – having previously completed three Dakota Hotels in Manchester, Leeds, and Glasgow. The UK hotel chain, which also has hotels in Edinburgh and Motherwell, regularly welcomes celebrity guests. The building at 112 Quayside previously held a number of tenants, including law firm Womble Bond Dickinson. It had been based there since 1998 until relocating its 400 staff into the Spark building at Newcastle Helix. Gary Oates, GMI’s Regional Director, North East, said: “The steel signing represents a major step forward in the redevelopment of this landmark building. Our team is committed to delivering a hotel that reflects the high standards and elegance associated with the Dakota brand. “This project showcases GMI’s dedication to quality and innovation in construction, and we are excited to see the vision taking shape.” Marc Banks, a director of Evans Property Group, added: “Reaching this milestone in the development of Dakota Hotels Newcastle marks a significant achievement and we are proud to bring a project of this calibre to the North East, which offers an unparalleled blend of luxury and comfort.“ Building, Design & Construction Magazine | The Choice of Industry Professionals
The Royal Institute of British Architects (RIBA) has published its latest set of horizon scans, spotlighting trends in global population change that will shape society and the built environment over the next ten years. Shifting patterns in births, deaths and migration are reshaping communities. The world faces ageing populations, swelling cities, and more people on the move than ever before. RIBA Horizons 2034: Population Change includes four horizon scans that consider how architects will need to adapt to respond to the changes. Written by leading academics and experts, they are commissioned by RIBA to provide foresight for building design professionals. The four horizon scans are: They discuss how households and neighbourhoods will change, with a need for housing to respond to the reality of smaller families and older, more diverse communities, especially in the UK. They also highlight the impact of unpredictable migration trends, driven by economic factors, but also by conflict and climate change. To tackle the challenge, they say architects must design inclusive, adaptable and resilient buildings. They call for leadership, innovation, collaboration, as well as knowledge sharing between professional institutes, governments and development partners. RIBA Horizons 2034: Population Change is part of the RIBA Horizons 2034 series interrogating the global megatrends predicted to shape society, the built environment, and the architectural profession by 2034. Previous scans focused on the environmental challenge and the economics of the built environment, and the final scans, exploring technological innovation, will be published next month. RIBA President Muyiwa Oki said: “As architects, we’re in a distinctive position of influence and responsibility – uniquely positioned to create and organise places for communities that are changing at a rapid pace. As populations age and diversify, these horizon scans call on us all to design truly adaptable and resilient buildings and places that foster a sense of belonging. They investigate the nuances of migration and displacement, and promote constructive dialogue. I encourage every architect to review the material to help understand the challenges and opportunities ahead.” Contributor to RIBA Horizons 2034: Population Change, Commonwealth Association of Architects (CAA) President Peter Oborn,said: “These horizon scans remind architects not only of the global challenges posed by issues such as climate change and rapid urbanisation, but also of the imperative for each of us to use our skills to promote advocacy, help build capacity and engage in climate action wherever we may be.” Read RIBA Horizons 2034: Population Change. Explore RIBA Horizons 2034. Building, Design & Construction Magazine | The Choice of Industry Professionals
BRISTOL: The redevelopment of a 2.5-acre site in the heart of Bristol has reached a key milestone after main contractor Winvic Construction Ltd celebrated topping out at the mixed-used Redcliff Quarter scheme. Grainger plc, the UK’s largest listed residential landlord, announced in 2022 that it had exchanged conditional contracts to forward fund and acquire the build-to-rent (BtR) element of the second phase of Redcliff Quarter in Bristol. Known as Glasshouse Square, the development comprises 374 build-to-rent homes, as well as 94 affordable homes and four commercial units. Upon practical completion, Grainger will own and operate the scheme, delivering much needed new homes in the centre of Bristol. Developer Madison Cairn – working in partnership with global alternative asset manager ICG Real Estate – secured planning permission for 468 new build to rent homes in 2021, along with an adjacent PBSA development of 367 rooms. The site has a much longer history, though. It had been vacant for more than 20 years when, in 2017, planning permission was granted to regenerate the site. However, after completing the first phase of the scheme – 118 new homes at the north of the site – the development stalled, leaving the rest of the scheme undeveloped. Madison Cairn took over as developer, successfully unlocking the scheme. In addition to the 374 BtR homes and 94 affordable homes, Glasshouse Square includes a total of c.5,900 sq. ft of internal residents’ amenity space; c.21,200 sq. ft of external amenity space and c.8,500 sq. ft of commercial space. The site is a short, nine-minute walk from Bristol Temple Meads Station, which sits at the heart of Europe’s largest regeneration, Temple Quarter. Glasshouse Square builds on Grainger’s existing Bristol portfolio, which includes Hawkins & George, comprising 194 build-to-rent homes, and Millwrights Place which provides 231 build-to-rent homes. Michael Keaveney, Director of Land and Development from Grainger plc said: “This is an exciting milestone for Glasshouse Square, our third Bristol-based development, providing 468 high-quality, professionally managed and well-connected homes for renters, bringing our total portfolio in the city to 900 homes. We look forward to seeing Glasshouse Square progress over the coming months ahead of our launch next year.” Mark Jones, Winvic’s Managing Director for Multi-room, said: “Acknowledging this notable project milestone is a tremendous achievement for all stakeholders involved. The topping out of this complex development in the heart of Bristol is a testament to the team’s perseverance and determination throughout a challenging winter. I wish to extend my gratitude to our dedicated team along with the consultants and supply chain for their tireless efforts thus far. With enthusiasm, we are poised for the year ahead, guiding us towards the final stages of completion in 2025.” Aneil Handa, Managing Director of Madison Cairn, said: “There is a serious under-supply of homes in Bristol. By working in partnership with ICG Real Estate and Grainger we secured planning permission for a revised Redcliff Quarter scheme that saw a substantial increase in the number of homes delivered on the site, compared with the previous consent. Importantly, the new scheme now has 94 affordable homes, which will make a real contribution to helping address Bristol’s housing need. It is great to see such progress on the construction and look forward to seeing the building getting closer to completion in 2025.” Ryan Jones, Managing Director at Iesis Consult, said: “Growing up in Bristol, I’ve always had a deep connection to this city, which makes reaching the topping out of Redcliff Quarter particularly special. Our business, Iesis Consult, has been operating on Redcliff Street for over 15 years, making this project close to home in more ways than one. “The development of Redcliff Quarter, situated in the heart of Bristol, has been a complex and high-profile endeavour. Our team, alongside a dedicated wider team has navigated significant market changes to bring this vision to life. It’s rewarding to see our efforts come to fruition, providing essential housing and student accommodation. I’m proud of our collective achievements and eagerly anticipate the completion of this project, which will greatly benefit the Bristol community.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Work has started on site to transform an iconic, Grade II listed former British Waterways warehouse on the canal side area at Castle Wharf, in Nottingham into a high quality, build-to-rent residential scheme. The £13 million project is being developed in partnership with The Canal River Trust, H2Ourban and bloc. It is funded by Citra Living, part of Lloyds Banking Group. Citra appointed Rund to undertake Technical Due Diligence followed by being the Project Monitor, where Rund will see the project through to completion. Located in the Canal Conservation Area, the six-storey former warehouse dates back to 1919 and was originally built to help move goods along the Nottingham and Beeston Canal. The building will be converted to provide 95 residential units including 12 studios, 42 one-bedroom apartments and 41 two-bedroom flats, this includes a rooftop extension housing eight apartments. Ground floor amenity space for residents will also be included. Designed by Franklin Ellis Architects, it is being constructed by Jessops Construction Limited and completion is due in March 2025. Tom French, Associate Director at Rund, said, “This redevelopment project draws on our specialism in managing build-to-rent projects through to successful completion, while also benefitting from our expertise in dealing with sensitive Listed building conversions, safeguarding heritage for future generations. Once completed, the scheme will breathe new life into a historic building in a prime waterside location, making it an exceptional place to live.” Speaking about the project Andy Hutchinson, CEO for Citra said: “Bringing disused buildings back in to use and regenerating areas into new communities is central to what Citra is about. Regenerating the warehouse at Castle Wharf will bring much needed homes to the area, allowing more people to live in the type of quality homes they want in the areas that give them access to the facilities and amenities they want.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Peabody and Crest Nicholson have formed a new joint venture to deliver hundreds of much-needed new homes in Brackley, Northamptonshire. The partnership between not-for-profit housing association Peabody and housebuilder Crest Nicholson will provide circa 405 high quality, energy efficient homes off Turweston Road. The 34-acre site will include one- and two- bedroom apartments and two-, three- and four-bedroom houses across a range of tenures, including affordable rent, shared ownership and open market homes. The development will be sustainable, with each of the homes benefitting from an air source heat pump and an electric vehicle charging point. Proposed open spaces will include three new play areas and more than seven acres of green spaces for the community to enjoy, including a wildflower meadow, plus new ponds. Peabody and Crest Nicholson are expecting to submit a detailed planning application later this year. The homes will be delivered in phases, with construction due to begin in 2025. Simon Barry, Regional Managing Director at Peabody, said: “Our partnership with Crest Nicholson is great news for Brackley and the community. Our organisations share a commitment to deliver high quality, energy efficient homes for local people, and a desire to add long-term value to communities. “These much-needed new homes, a sizeable proportion of which will be affordable, will be located in the heart of our north counties region, giving residents the benefits of market town living but with easy access to the countryside, Northampton and the M40 motorway. “We look forward to welcoming new residents to the neighbourhood from next year.” Adrian Sims, Managing Director at Crest Nicholson Chiltern, added: “We are pleased to be partnering with Peabody to build this new community on the edge of Brackley. The partnership enables us to capitalise on the expertise of both organisations to provide a collection of high quality, energy efficient new homes and a selection of amenities that residents and the wider community will be able to benefit from in years to come. “We look forward to working hand in hand with Peabody to deliver a thriving, quality community that meets growing local demand for private market and affordable housing.” For more information, please call 0800 029 7171 or email TurwestonRoad@connectpa.co.uk. Or visit TurwestonRoad.com Building, Design & Construction Magazine | The Choice of Industry Professionals
New development to bring over £358k in community improvements to benefit local people Local housebuilder Story Homes has been granted permission from Cumberland Council to build 112 much-needed new homes on land south of the A69 in Scotby, Carlisle. Cumberland Council’s Planning Committee met on Wednesday 5 June to consider Story Homes’ proposals for a new residential development, subsequently approving the scheme, which includes a range of high-quality two to five-bedroom properties that suit the needs of a variety of prospective buyers. 33 of the new homes will be classed as affordable and will address the different requirements of eligible occupants with a connection to the Scotby area. The new development will complement the local area and include biodiversity enhancements and the delivery of new public open space which can be enjoyed by new and existing residents. As part of this new development in Scotby, Story Homes will make a number of significant community contributions totalling over £358k in line with the Section 106 Agreement requirements for the scheme. This includes contributions towards open space, sports and recreation, new primary school places, highways and travel improvements. David Hayward, Land Manager for Story Homes in Cumbria & Scotland, said: “We are delighted to have been granted planning permission to deliver 112 new homes in Scotby. Our scheme has been carefully designed to provide an appropriate extension to the village of Scotby and will deliver a range of two to five-bedroom modern, family homes centred around flexible living. “The scheme will also provide a number of benefits to the local community, such as the provision of 33 much needed new affordable homes for local people with differing requirements, attractive street scenes, biodiversity gains and areas of new open space. We look forward to works beginning on site for this exciting new development.” Due to significant delays within the planning system, including Nutrient Neutrality mitigation, Story Homes has been unable to bring forward any new residential developments in the Carlisle area since permission was granted for its Oakleigh Fields development at Orton Road in 2021. This approval was therefore welcomed by the local housebuilder, with the new scheme creating benefits for the local economy during the construction phase as a result of direct and indirect employment opportunities through the sub-contractor and supply chains. Works on site at the new development are set to begin in early 2025, following completion of the S106 agreement which will secure the various contributions as well as the Nutrient Neutrality mitigation scheme. For more information, please visit www.storyhomes.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals
SevenHomes, the regional housebuilder by SevenCapital Group, has appointed Richard Hodson as Planning Director. Richard previously joined the business’ planning team in 2022 and has since played an integral role in developing and delivering SevenHomes’ full planning strategy, from the acquisition of new sites amassing to a pipeline of nearly 3,000 homes, through to the achievement of planning permissions and successful disposal of sites across the midlands, including in Bromsgrove, Warwick and Redditch. In his new role as Planning Director, Richard will lead the planning function across all SevenHomes’ operating regions, whilst bolstering the wider team’s work in identifying and securing new opportunities. Richard commented: “I am delighted with the promotion to Planning Director at SevenHomes. The business prides itself on the ability to identify land with good prospects for the provision of new homes and amenities and add significant value through the planning and subsequent build process. I look forward to further developing our planning capabilities as we push ahead with both current and future projects.” Abdul Ali, Executive Director SevenHomes, said: “Richard’s track record within our planning department at SevenHomes has been exceptional in the two years he’s been with us thus far. In this new role leading the function, I am confident his leadership skills and expertise will be instrumental in achieving the company’s ambitious growth plans over the coming years.” For more information on SevenHomes, please visit: www.sevenhomes.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals
The Microsoft Industry Cloud for House Builders revolutionizes the UK’s residential construction sector, offering unparalleled efficiency, visibility, and growth potential. sa.global, the leading Microsoft partner for the house building industry, announces the launch of the Microsoft Industry Cloud for House Builders in the United Kingdom. This groundbreaking offering is designed to empower the nation’s housebuilders with the unparalleled capabilities of Microsoft technology, specifically tailored to meet the unique needs and challenges of the residential construction sector. At the core of the innovative suite of solutions is HomebuilderONE, a comprehensive end-to-end enterprise resource planning (ERP) solution based on Microsoft Dynamics 365. It is designed to manage every aspect of the building lifecycle, from land development to warranty, for both single-family and multi-family construction. This cloud-based solution simplifies operations, eliminates the need for multiple applications, and supports scalable business growth. Key Features of the Microsoft Industry Cloud for House Builders include: The introduction of the Microsoft Industry Cloud for House Builders also involves a key partnership with Double Diamond Delivery, a renowned UK-based consultancy specialising in transformation and business improvement delivery programmes for construction and housing industries. This collaboration enriches sa.global’s offerings with profound industry insight and expertise, specialising in the UK house building market. Oliver Lock, Director at Double Diamond Delivery, expressed his enthusiasm for the partnership, saying, “We are thrilled to partner with sa.global to advise and guide the evolution of their HomebuilderONE product and the Microsoft Industry Cloud for House Builders for the UK house building market. Our shared commitment to delivering successful outcomes aligns perfectly with sa.global’s vision for innovation and excellence in serving the needs of the industry.” Neill Hills-Johnes, Managing Director of sa.global United Kingdom, shares his enthusiasm, saying, “We are excited to introduce the Microsoft Industry Cloud for House Builders. This comprehensive suite of enterprise cloud solutions combines the robust capabilities of Microsoft technologies with our industry leading HomebuilderONE solution, specifically designed to serve the UK’s leading house builders.” He continues, “Our partnership with Double Diamond Delivery highlights our commitment to delivering unparalleled solutions and services for the UK house building sector.” The introduction of the Microsoft Industry Cloud for House Builders into the United Kingdom marks a significant advancement, simplifying and unifying the software ecosystem for the nation’s house building industry. It solidifies sa.global’s status as the premier Microsoft Industry Cloud provider for house builders across the globe, including in the United States, Canada, Australia, and New Zealand. This initiative is set to empower production house builders with cutting-edge technology, promoting efficiency, innovation, and growth within the industry. About sa.global sa.global, a trusted Microsoft partner, specialises in delivering cloud-based, vertical-focused solutions to address industry challenges. Our offerings are exclusively based on Microsoft business applications and the Microsoft Business Cloud, serving service-based verticals such as advertising and marketing, accounting, architecture and engineering, consulting, house building, legal, and IT services. By adopting an industry-first approach, we equip those closest to the problem with the tools needed to act swiftly and make informed decisions. Leveraging modern technologies like AI and Copilot, we empower organisations to make intelligent decisions and act faster. With over 800,000 users across 80 countries, sa.global’s expertise is trusted worldwide. We bring over 30+ years of consulting and implementation experience and have been recognised as a Microsoft Dynamics Partner of the Year 11 times. Additionally, we have been part of Microsoft’s elite Inner Circle for 11 years. Our global team comprises 1,000 professionals across 25 countries. For more information, visit www.saglobal.com. About Double Diamond Delivery: Double Diamond Delivery, a leading consultancy firm specializing in technology-enabled business improvements, announces the official launch of its services. Leveraging a proven framework and a team of experienced consultants, Double Diamond Delivery aims to drive successful outcomes for organizations seeking to transform their operations through technology. For more information, visit www.doublediamond.info Building, Design & Construction Magazine | The Choice of Industry Professionals
When it comes to maintaining your home, one of the most overlooked yet critical components is the gutter system. Guttering is responsible for directing rainwater away from your house, protecting it from water damage, mold, and mildew. Over time, even the most robust gutter systems can deteriorate due to exposure to the elements. So, how do you know when it’s time to replace your guttering? Here are seven telltale signs that indicate it’s time to invest in new gutters. Visible Cracks and Splits One of the most obvious signs that your guttering needs replacing is the presence of visible cracks and splits. Even small fractures can grow larger over time, exacerbated by the weather and debris that gets trapped in your gutters. These cracks can lead to significant water leaks, which can damage your fascia boards and, worse, your home’s foundation. If you spot any visible signs of cracking, it’s a clear signal to start looking into new guttering supplies. Peeling Paint or Rust Paint peeling off your gutters isn’t just an aesthetic issue; it’s often a sign of underlying problems. Gutters are designed to withstand harsh weather conditions, but over time, the protective paint can erode, leading to rust. Rust weakens the structure of your gutters, making them less effective at channeling water away from your home. If you notice persistent rust or peeling paint, it’s time to consider a replacement. Sagging Gutters Sagging gutters are a serious red flag that your gutter system is no longer doing its job. This can occur due to accumulated debris, standing water, or the gutters pulling away from the house. Sagging gutters result in improper water drainage, which can lead to water pooling around your foundation. If you observe that your gutter system appears droopy or uneven, it’s a sign that the current setup needs to be replaced. Water Damage Marks Take a walk around your house and look for water marks or damage on your siding. Water stains or mildew where the gutters meet the house indicate that the gutters are not effectively channeling water away. This can become a severe issue if left unattended, leading to more costly repairs in the future. Replacing your guttering can mitigate these risks and protect your home. Eroding Landscaping The area around the base of your house should ideally remain intact through varying weather conditions. If you notice soil erosion, pooling water, or plant damage near your home’s foundation, it could be due to your failing gutter system. Gutters that are no longer efficient will allow water to overflow, disrupting your landscaping and potentially causing long-term damage. When you spot erosion, it’s high time to think about new gutters. Gutter Seams Separating Most traditional gutters are connected in sections, and these seams can become problematic over time. Temperature fluctuations, debris, and natural wear and tear can cause these seams to separate, creating leaks. Seamless gutters can be a more durable alternative, but even they can develop similar issues after years of use. If you notice separated seams, those are evident signs that a replacement is necessary. Overflowing Water During a rainstorm, your gutter system should effectively guide water away from your home. If you observe water overflowing from the gutters, it indicates they’re not working properly. This overflow can be due to clogs, but if regular cleaning doesn’t resolve the problem, the issue likely lies in the gutter’s overall condition. Continuous overflow can lead to substantial damage to your home’s exterior and foundation, signifying that a new gutter system is in order. Conclusion A well-functioning gutter system is crucial for protecting your home from water damage and related issues. The signs mentioned above are clear indicators that your gutters need replacing. Ignoring these can lead to more severe and costly damages down the line. If you identify any of these telltale signs, don’t wait to invest in new gutters. Upgrading your guttering supplies now can save you significant time, effort, and money in the future.
A Laneway home is a detachable structure built on your main residential property. The laneway home faces the lane. In case there is no lane, the house is called a garden suite or coach house. Building a laneway home has many benefits. It increases the value of your property, which is a plus in case you decide to sell. It’s also a cheaper way of providing a home to your loved ones such as an aged parent or a grown child. It also provides a way to boost your rental income. Building a Laneway Home in Toronto Building a laneway home in Toronto was approved in 2018. Homeowners can build a secondary home on their property as long as its fronting or backing is on a laneway. The homes come in handy to reduce the shortage of rental houses in the city. When built for rental, they provide additional income to the homeowners who can use it to pay for mortgage or other expenses. Also, they are useful to accommodate aged parents or adult children, who might otherwise not afford to buy a similar house in the city. One of the many benefits of laneway homes is to generate rental income. Here is more on how the home can boost your rental income. Rent Out the Laneway Home In cities such as Toronto, Canada, there is a shortage of rental houses. Also, when you build a laneway home, you can rent it out and earn that extra income. With the high rents, you are assured of recovering your investment within no time. Living in Toronto is expensive and therefore most tenants are looking to save money on rent. Since the demand for housing is greater than the supply, the rent is high. However, rents are lower on laneway homes and that’s why they attract more tenants. These homes provide the comfort of a standalone house at a cheaper price than an apartment. Therefore, when you build a laneway home, you are assured of tenants and consequently rental income. You can use the money to pay your mortgage and remain with extra. Your rental laneway home qualifies you for a tax deduction on interest on your mortgage if you built it using a loan on your main residence. This way, you pay less mortgage. However, to claim a tax deduction, you need to report the rental income. Nevertheless, the additional property tax is less in comparison to the rental income the home will generate. Rent Your Main House You may choose to move into the laneway home and rent out your main house. This way, you can earn more rental income enough to pay your mortgage and remain with a substantial amount for your personal use. Increase Your Home Value If you build a laneway home, it means your property has a high sqft. You can get rental income from the extra space. If you intend to sell, your home will be more attractive to the buyers than a property without a laneway home. The secondary home adds more value to your property and you are likely to sell at higher prices. The buyer will be looking at the extra space they will get at the property and the additional rental income they will get if they decide to rent it out.
