BDC News Team

Brexit: 88% of EU workers 'ineligible for visa'

3 June 2016 | James Richards   New research suggests that 88 per cent of EU workers in the UK might not qualify for a visa in the event of Britain leaving the EU.  The research claims that the accommodation and food services sectors would be particularly badly

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Bulgarian firm fined for poor work at height

A Bulgarian construction firm has been fined after a member of the public reported unsafe working practices during the construction of an adventure course in Markeaton Park, Derby. Derby Magistrates’ Court heard how a passing member of the public noticed work at height being carried out from a pallet on

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OFTEC launches Solid Fuel Training Centre in Northern Ireland

OFTEC launches Solid Fuel Training Centre in Northern Ireland Published:  12 April, 2016 OFTEC has announced the first OFTEC-approved training centre in Northern Ireland to offer training and assessment for OFTEC’s Solid Fuel Installation, Servicing and Commissioning (Dry) certification. The centre has opened at Micon Distribution in Lisburn, which is a

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Delayed A14 gets green light six years after being scrapped

Highways England confirmed that Patrick McLoughlin’s decision had paved the way for construction to start on the £1.2bn project later this year, more than six years after it was first scrapped by the government. Design work had begun on the A14 scheme in 2008 under the Labour government but became

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Sale of Summerfield Care Home, Cheltenham

A private vendor, advised by Savills, has sold the entire issued share capital of Hi-Hand Limited and Summerfield Medical Limited to Target Healthcare REIT Limited and its subsidiaries (“the Group”) for substantially in excess of £7,000,000. The Summerfield Care Home in Gloucestershire is a substantial purpose-built care facility commissioned in

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New to market rental properties spiked before stamp duty deadline

Property crowdfunding platform, Property Partner, has found that admidst the rush to beat the April 1st stamp duty deadline there was a large rise in new rental properties being listed. Property Partner looked at the number of new rental properties being advertised between 28th March and 3rd April, and compared

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Latest Issue
Issue 339 : Apr 2026

BDC News Team

The Fishing Hut by Niall McLaughlin Architects wins the 2015 Stephen Lawrence Prize

A beautifully-crafted wooden fishing hut on a small new estate in Hampshire has been awarded the 2015 Stephen Lawrence Prize. The Fishing Hut by Niall McLaughlin Architects has won the coveted annual prize set up in memory of the teenager who was setting out on the road to becoming an architect when he was murdered in 1993. Speaking about The Fishing Hut, Stephen Lawrence Prize founder Marco Goldschmied said: “The Fishing Hut is above all beautifully-crafted, but is about so much more than fishing. Floating elegantly over the lake with sophisticated slats that can be adapted with the passing of the seasons, its design transforms what would otherwise be a simple hut into a place for quiet contemplation. It is a structure in perfect harmony with its surroundings and a worthy winner of the Stephen Lawrence Prize.” The judges for the 2015 Stephen Lawrence Prize were Baroness Lawrence of Clarendon, Doreen Lawrence CBE the mother of Stephen Lawrence, Marco Goldschmied, RIBA Past President and Founder of the Marco Goldschmied Foundation, which established the Stephen Lawrence Prize in 1998 and Murray Kerr, founder of Denizen Works, which won the Stephen Lawrence Prize in 2014. The Stephen Lawrence Prize, sponsored by the Marco Goldshmied Foundation, is intended to encourage fresh architecture talent and reward the best examples of projects that have a construction budget of less than £1 million. The winner of the Stephen Lawrence Prize was announced this evening (Thursday 15 October) at the RIBA Stirling Prize party at RIBA in central London. The Architects’ Journal is media partner for the RIBA awards, including the RIBA Stephen Lawrence Prize, and professional media partner for the RIBA Stirling Prize. The RIBA Stirling Prize is sponsored by Almacantar. ENDS Notes to editors: 1. For further press information please contact Callum Reilly in the RIBA Press Office callum.reilly@riba.org or 020 7307 3757 2. View and download images of The Fishing Hut here: https://riba.box.com/s/njrg6mz5x5f2am67cbaycuixomaucwb4 3. Almacantar is a property investment and development company specialising in large-scale, complex investments in Central London, with the potential to create long-term value through development, repositioning or active asset management. Since launching in 2010, Almacantar has acquired a number of prime assets with untapped potential in the heart of London, including: Centre Point, Marble Arch Tower, CAA House, 125 Shaftesbury Avenue and One and Two South Bank Place. www.almacantar.com For further information please contact: Finsbury +44 (0)20 7251 3801 Faeth Birch 4. Previous winners of the Stephen Lawrence Prize include House No 7 by Denizen Works (2014); Montpelier Community Nursery by AY Architects (2013); Kings Grove by Duggan Morris Architects (2012); St Patrick’s Primary School Library and Music Room by Coffey Architects (2011); Artist’s House by Gumuchdjian Architects (2010); El Ray by Simon Conder Associates (2009); Sackler Crossing by John Pawson (2008); and Wooda by David Sheppard Architects (2007). 5. The Royal Institute of British Architects (RIBA) champions better buildings, communities and the environment through architecture and our members. Visit www.Architecture.com and follow us on Twitter. 6. For more information on The Architects’ Journal visit www.architectsjournal.co.uk 7. The judges’ citation for The Fishing Hut follows:  The Fishing Hut, Hampshire by Niall McLaughlin Architects The primitive hut has a long anthropological pedigree as well as an architectural one. This is a sophisticated primitive hut, worthy of Murcutt or Leplastrier but set not on the edge of the Bush but on a Hampshire lake, close by chalk-filtered streams providing watercress beds and fishing. The timber-framed and clad construction on galvanised supports hovers over the lake, intended as a retreat for fishermen and a place for the owner’s family to unwind. But it as much about time passing as it is about fishing: crafted slatted timber panels which allow the building to ‘hunker-down’ in the winter, open up in the spring to become delicate brises soleils. Timber framed glass screens slide away. Within a few moments in time a solid building is transparent.   Posted on Thursday 15th October 2015 Source link

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RIBA calls on Local Authorities to use new rights to end the English blight of shoe-box new homes

Browser does not support script. Contact us RIBA campaign on the nationwide introduction of minimum space standards for new build homes has convinced the Government to take action Property developers will be required to stop building shoe-box new build homes across the country RIBA calls on all locally accountable Councillors to enforce new housing space standards New hope that UK might lose unenviable position of building Europe’s smallest homes The Royal Institute of British Architects (RIBA) has convinced the Government to introduce a new space standard requirement across the whole of England to ensure that the millions of new homes being planned and built are fit for purpose and able to meet the requirements of the people who live in them.  The UK has the smallest new build homes in the whole of Western Europe; smaller than countries including The Netherlands which has less space and even higher population density levels.  RIBA research has revealed Yorkshire for example, a county with one of the lowest population densities in England, has been building the smallest new build homes in England. 80% of the public would be more likely to choose a home that meets minimum space standards Introducing a minimum space standard has been a major campaign for RIBA and around 2,850 people joined our call for the introduction of this standard during a consultation in 2013 – this is a huge turnout for a response to a Department for Communities and Local Government (DCLG) technical consultation. Thanks to pressure from a RIBA campaign which was supported by thousands of people, including Kevin McCloud and Stephen Fry – the Government has said it intends to introduce minimum space standards for ALL new build homes across England. Local authorities will be able to sign up to a national minimum space standards for new build homes to ensure that any proposals for new housing in their area is required to meet this national standard and ensure tiny shoe box homes are a thing of the past. RIBA President Stephen Hodder said: “Our RIBA campaign gave people a voice on new housing. They told us new homes were too small and lacked enough space for them and their families. We are delighted that the Government has recognised the urgent need to stem the flow of poor quality housing that is blighting the UK by introducing a standard. The battle to shed our position as building the smallest homes in Western Europe is not over.  RIBA urges all locally accountable Councillors to listen to their electorate and introduce a minimum space standard in their area.” RIBA urges all English Councils to sign up to the new space standard to ensure that any new build homes in their areas are fit for purpose. ENDS Notes to editors For further press information contact Howard Crosskey in the RIBA Press Office: 0759 091 0341 howard.crosskey@riba.org  The Government has said it intends to bring in a national minimum space standard for all new build homes in England and has just finished a public consultation on housing standards – to view a summary of RIBA’s response to the consultation visit: http://www.architecture.com/RIBA/Contactus/NewsAndPress/Membernews/PolicyNews/2014/RIBAwelcomesspacestandard.aspx Other reports published by the RIBA reveal that space and light are the top concerns for consumers choosing a new home, and that the public believe new homes are too small. See our research reports and the Future Homes Commission report on the dedicated campaign website www.behomewise.co.uk     The Government announced a Review of Housing Standards in October 2012, aimed at rationalising current housing standards * Standards only currently exist in London and for new English homes that are publicly funded (e.g. some affordable homes built through HCA funding) The National Planning Policy Framework (2011) specifies that ““Local authorities should identify the size, type, tenure and range of housing that is required in particular locations, reflecting local demand” – for more detail on the NPPF visit: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/6077/2116950.pdf The Royal Institute of British Architects (RIBA) champions better buildings, communities and the environment through architecture and our members www.architecture.com Follow us on Twitter for regular RIBA updates www.twitter.com/RIBA      Posted on Thursday 13th November 2014 Source link

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Brexit: 88% of EU workers 'ineligible for visa'

3 June 2016 | James Richards   New research suggests that 88 per cent of EU workers in the UK might not qualify for a visa in the event of Britain leaving the EU.  The research claims that the accommodation and food services sectors would be particularly badly hit. Almost 14 per cent of the workforce in this sector is made up of EU workers, but only 1 per cent would quality for a visa.   The report from the Social Market Foundation (SMF) and Adecco Group has modelled the impact of a ‘leave’ vote, whereby the principle of free movement would no longer apply.   EU workers in the UK would then be subject to visa requirements to be eligible to work. If the current visa requirements for non-European Economic Area migrants were applied to this group, 88 per cent of workers would not be eligible.   According to the study, Working Together? The Impact Of The EU Referendum On UK Employers, there are six million EU workers in the UK making up 6 per cent of all UK employees.   The model indicates that London would feel the brunt of the impact, as one in eight (13 per cent) of the capital’s employees are from the EU, three-quarters of whom would not qualify for a visa.  Source link

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Bulgarian firm fined for poor work at height

A Bulgarian construction firm has been fined after a member of the public reported unsafe working practices during the construction of an adventure course in Markeaton Park, Derby. Derby Magistrates’ Court heard how a passing member of the public noticed work at height being carried out from a pallet on the forks of a telehandler at the site in Markeaton Park, where a high ropes adventure course was being constructed by Bulgarian based firm Walltopia. The member of the public first reported this to the company but despite receiving assurances the matter would be dealt with, unsafe work at height continued. They then reported it to the Health and Safety Executive (HSE). HSE’s investigation at the site found work was taking place on a section of roof 11 metres off the ground, without the use of any means to prevent two workers falling from the open edges. In addition, these workers were accessing the roof by climbing from the basket of a cherry picker. Walltopia of Bulgaria Boulevard, Letnitsa, Bulgaria, was fined £500,000 and ordered to pay costs of £8,013.25 after pleading guilty to breaching Regulation 4(1) of the Work at Height Regulations 2005. After the case, HSE Inspector Lee Greatorex said: “Using a pallet on a telehandler for planned work at height is an unacceptable means of access. It appears that the company failed to put in place control measures after being alerted about this. “Walltopia failed to follow recognised industry standards during work at height and did not make effective changes to the control of their working methods following the matter being brought to its attention. Work at height should always be sufficiently planned and managed to protect workers from being exposed to extreme risks from falls from height. In this case someone could have suffered significant injuries or death”. For more information about working safely at height visit: http://www.hse.gov.uk/construction/safetytopics/workingatheight.htm Notes to Editors The Health and Safety Executive is Britain’s national regulator for workplace health and safety. It aims to reduce work-related death, injury and ill health. It does so through research, information and advice, promoting training, new or revised regulations and codes of practice, and working with local authority partners by inspection, investigation and enforcement www.hse.gov.uk   More about the legislation referred to in this case can be found at: www.legislation.gov.uk/ Further HSE news releases are available at www.press.hse.gov.uk Journalists should approach HSE press office with any queries on regional press releases. Source link

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Construction firms granted multi-million pound funding boost to close skills gap

CITB has announced over £7.5 million in targeted project funding to address the industry’s critical skills needs. 22 industry-led projects have been successful in their funding bids, following the launch of CITB’s new Flexible and Structured Funds last autumn. Over £2.5 million will be used to develop an online learning centre that helps construction firms build the skills of their supply chain. A further £2.5 million will fund a Homebuilding Skills Partnership, to bring the whole homebuilding sector together for the first time to tackle the skills challenge in housing. Close to £350,000 will fund a project that aims to increase the number of females working in social housing maintenance. More than half of the funding will be accessed by 16 projects led by federations. Employers are directly leading the remaining five projects, of which four are collaborative proposals. The projects, run from locations across the UK, will focus on key areas that are stunting the growth of the industry, such as careers guidance, upskilling existing employees, recruiting new talent and encouraging diversity within the sector. Geeta Nathan, Head of Economic Analysis at CITB, commented: “This exciting range of projects will help build a well-skilled workforce, boosting the industry for the long-term. Employers have identified several key issues affecting the construction industry and these funds will help provide the skills and training necessary to overcome them. Applications for the next round of funding will be accepted from the 19th of April. “This is the first funding announcement since we changed the way we target our money and the way firms can access it. Although the application process has been simplified, it’s more transparent and rigorous – we require much more detail about the projects and what they will achieve in the long term for the construction industry and will monitor them closely to ensure they remain on course.” Projects include: The Supply Chain School – Strategic Partnership The Supply Chain School provides an online platform for the construction industry to develop sustainability training for individuals and businesses. It provides an online skills test, making it possible to diagnose any skills gaps. It also offers free online learning resources. The Strategic Partnership project proposes a five year strategic collaboration with the CITB, advising on skills issues within the sector and resolving the industry’s skills shortage for the long term. Over the five year duration the project will see 4,000 employers undertake an online skills diagnostic, then receive an action plan and working through e-modules and other resources from the school. The project is expected to cost £5 million, with CITB funding £2.5 million over five years, after which the project will seek to become self-financing. CECA This project will improve health and safety standards in construction by establishing the first safety stand-down, which will see 10 sites across the UK stop work for one day, so teams can spend time refreshing their health and safety knowledge. The funding will support the development of the required training models. The project will also hold mock trials so that employees can experience a health and safety tribunal and also host regional conferences across Great Britain. CITB to contribute £358,500 over three years and work in collaboration with CECA, New Civil Engineers, Highways England, the Environment Agency and nine large contractors.  Mears CITB will support Mears to work with housing associations and local government authorities to encourage diversity in the social housing construction workforce through funding for materials, workshops and community engagement. This is the first time CITB has supported engagement with the social housing sector on this issue. CITB will fund £349,455 over 18 months.     Roofing Industry Alliance Considering that only 20 per cent of roofing workers hold formal qualifications, this project aims to equip workers with recognised training and qualifications and ensure they hold the relevant CSCS card. CITB will contribute £299,099 to the project of a total £432,650. After one year of funding, the project has the potential to benefit 138 firms and 270 individual workers. Up to 35,000 could benefit from the five-year strategic skills research. Other projects include: Company CITB Funding The Association of Technical Lighting and Access Specialists (ATLAS) £64,000 B4Box £48,000 Barratt Developments £65,069 Build UK £66,780 Civil Engineering Contractors Association (CECA) £195,400 Dry Lining & Plastering Training Forum £20,000 Federation of Master Builders (FMB) £49,900 Federation of Master Builders (FMB) £240,100 Federation of Master Builders (FMB) £47,000 Finishes and Interiors Sector (FIS) £200,000 Home Builders Federation (HBF) £20,000 Home Builders Federation (HBF) £2,727,000 National Federation of Builders (NFB) £63,135 National Federation of Shopfitters and British Woodworking Federation £105,000 Roofing Industry Alliance (RIA) £299,099 Rowlands Roofing £5,000 Stewart Milne £178,000 Structural Timber Association £12,000 Structural Timber Association £15,000 Source link

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OFTEC launches Solid Fuel Training Centre in Northern Ireland

OFTEC launches Solid Fuel Training Centre in Northern Ireland Published:  12 April, 2016 OFTEC has announced the first OFTEC-approved training centre in Northern Ireland to offer training and assessment for OFTEC’s Solid Fuel Installation, Servicing and Commissioning (Dry) certification. The centre has opened at Micon Distribution in Lisburn, which is a distributor to the fireplace and stove industry throughout the UK and Ireland. It is offering the new course to technicians to provide greater support for retailers and installers within the industry. In conjunction with North West Regional College, the specialist course aims to provide candidates with the knowledge and understanding to install dry stoves that meet the requirements of Building Regulations and standards. Managing director Michael Farnan said: “The next step for us was to ensure we had the support in place for our retailers and installers within the industry. Becoming an OFTEC Approved Training Centre enables us to provide recognised training and assessment of installers.” The new training centre in Lisburn brings the number of centres in Ireland offering solid fuel training to two, with METAC established already in County Laois. The courses are open to technicians wanting to demonstrate their competence to customers and offers a recognised qualification and trade association registration. David Blevings, OFTEC Ireland manager, said: “We are delighted to welcome Micon as an OFTEC training centre in Northern Ireland. Their offering of the solid fuel course will complement the current oil courses being run by centres locally and fills a welcome gap in the solid fuel market along with METAC in the Republic of Ireland. “For too long there has been a limited offering of solid fuel training in Ireland and we are delighted to be associated with proactive providers like Micon and METAC. For OFTEC registrants who have completed a solid fuel course in recent years they can add on the solid fuel scope of registration from just £50 (€65). “With trendy solid fuel stoves in vogue at the moment, it is important that technicians are fully qualified to correctly install and properly maintain these appliances, and to comply with regional building regulations and manufacturer’s installation instructions.” Registering with OFTEC and becoming a ‘Competent Person’ means a technician can demonstrate their competence to consumers. This certification allows consumers to have peace of mind as the technician has been trained, assessed and inspected in the field and is deemed competent to work on their heating system. Additionally, technicians have full insurance and are part of a trade association with a proper complaints procedure in place, should something go wrong. The technician also has access to free technical advice seven days a week, the support of local inspectors on the ground and the use of control documentation for the benefit of consumers. Micon will initially offer installers the OFT15-108(D) – Installation, commissioning and servicing of solid fuel burning appliances (dry space heating) and propose to offer the OFT15-108(W) – Installation, commissioning and servicing of solid fuel burning appliances (dry space heating and hot water heating) later this year. Under each scope of registration technicians can install, commission and service solid fuel fired stoves, room heaters and associated equipment and systems in accordance with manufacturer’s instructions, industry practices and standards, and legislative requirements. Source link

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RWE's Galloper offshore wind farm gets go-ahead with new backers

Construction of a £1.5 billion wind farm off the Suffolk coast is to go ahead in November with the creation of nearly 800 jobs, after three new partners were found to back the project. The future of the Galloper wind farm was left in doubt last year when energy company SSE pulled out of the project, blaming the cost and the subsidy regime. The remaining partner, RWE Innogy, halted work. But RWE Innogy announced on Friday that Siemens Financial Services and the investment and financial services group Macquarie Capital, along with the UK government’s Green Investment Bank, had become joint 25 per cent equity partners. Offshore wind is one of the few parts of the UK renewable energy sector to have emerged unscathed after a round of cuts to onshore wind and solar power subsidies since the first majority Conservative government since 1992 took power in May. Scheduled to become operational in March 2018, Galloper will become one of the larger offshore wind farms in British waters with a capacity of 336 megawatts, or enough to power 336,000 homes. The announcement follows Dong Energy’s confirmation on Wednesday that it was going ahead with an extension to a wind farm in the Irish sea that will make it the world’s biggest. Together, the two projects mean that there is 10 gigawatts (GW) of offshore wind capacity built, under construction or with financing secured in Britain, double the current operational capacity of 5GW, said the trade body RenewableUK. Hans Bünting, the ceo of RWE Innogy, said: “Today’s announcement is the culmination of many months of successful negotiations with our partners and investors and shows that the UK is still a strong market for offshore renewables.” The company has previously warned that political uncertainty and changes to policy have put the technology at risk in the UK. While the UK has the most installed offshore wind power in the world, other countries are catching up. In the first two quarters of 2015, Germany installed three times as much offshore wind capacity as the UK. The energy minister Andrea Leadsom said of the Galloper deal: “This milestone shows how the UK’s offshore wind industry is going from strength to strength.” RenewableUK welcomed the news but said it needed a clear plan from the government on how much offshore wind capacity it wanted into the 2020s. In September, the government turned down planning permission for a much larger (970 MW) wind farm off the coast of Dorset. A consortium of 12 commercial banks and the European Investment Bank will provide Galloper’s £1.37 billion debt facilities. The EIB has provided £225 billion in backing. Like this story? Please subscribe to our free weekly e-newsletter at the top of the page for more content like this. Source link

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Delayed A14 gets green light six years after being scrapped

Highways England confirmed that Patrick McLoughlin’s decision had paved the way for construction to start on the £1.2bn project later this year, more than six years after it was first scrapped by the government. Design work had begun on the A14 scheme in 2008 under the Labour government but became the most expensive approved project to be canned as part of the coalition’s 2010 Comprehensive Spending Review. Balfour Beatty / Carillion and a Costain / Skanska joint venture have been selected as the contractors to deliver the project – the first to be tendered under Highways England’s Collaborative Delivery Framework. Last year, the Costain / Skanska consortium was awarded the £600m contract to carry out the first two packages of works for the road between Cambridge and Huntingdon. It was the second time the team had been appointed to the scheme. In 2008 Costain / Skanska won a £344m contract to build part of the scheme but this was cancelled after the coalition announced the scrapping of the project. The Balfour Beatty / Carillion JV secured the £292m contract to widen the section of the A14 between Swavesey and Milton last September. The JV appointment came after Highways England retendered the package of work due to “concerns over contractors’ ability to meet long-term targets on issues including passenger safety”. A partnership between Atkins and CH2M was awarded the £35.3m detailed design contract for the A14 in June. Show Fullscreen A14 Cambridge to Huntingdon upgrade map A fourth package for the demolition of the viaduct over the East Coast Main Line at Huntingdon will be awarded in 2019. Mr McLoughlin’s decision comes 18 months after the then Highways Agency first put forward its replan for the A14 to the Planning Inspectorate. After a consultation and examination last year, the scheme was submitted given to Mr McLoughlin for approval in February. When completed, the 34 km scheme will include a major new bypass between Swavesey and Brampton and the widening of the existing A14 road between Swavesey and Milton and Brampton and Alconbury. The improvements will also include improvements to Huntingdon town centre and the replacement of the A14 viaduct with a new local access road. Highways England director for complex infrastructure Chris Taylor said: “The scheme will provide much-needed additional capacity to improve journey times and safety. “We are keen to keep the momentum going and will get preparations for construction under way as soon as possible after the end of the six-week statutory challenge period.” Source link

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Sale of Summerfield Care Home, Cheltenham

A private vendor, advised by Savills, has sold the entire issued share capital of Hi-Hand Limited and Summerfield Medical Limited to Target Healthcare REIT Limited and its subsidiaries (“the Group”) for substantially in excess of £7,000,000. The Summerfield Care Home in Gloucestershire is a substantial purpose-built care facility commissioned in 2010, totalling 1.96 acres (0.79 hectare). The building has been designed to a high specification by award-winning architects DWA and features 66 bedrooms with en-suite wet rooms and an abundance of light day areas, four dining rooms, a cinema, a library and  a lounge bar. Upon purchase the care home was let to a subsidiary of Caring Homes group, the UK-wide care home operator.  Craig Woollam, head of healthcare at Savills, comments: “Target Healthcare REIT Limited is the only listed specialist investor in UK care homes, and this deal demonstrates that there is still a good appetite for investment in the UK healthcare market. In addition, Caring Homes group will make an excellent tenant for this prime property.” Kenneth MacKenzie, Managing Partner of Target Advisers LLP, comments: “We are delighted to announce the completion of this acquisition which adds another high quality asset in a location of strong demand.  We are excited to add Caring Homes to our growing list of tenants.  This transaction is the fifth to be announced since our recent successful fundraise, and we continue to progress other opportunities.  We expect to make further announcements in due course.”   Source link

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New to market rental properties spiked before stamp duty deadline

Property crowdfunding platform, Property Partner, has found that admidst the rush to beat the April 1st stamp duty deadline there was a large rise in new rental properties being listed. Property Partner looked at the number of new rental properties being advertised between 28th March and 3rd April, and compared it to the period 21st March to 27th March in more than 90 towns and cities across the UK. In 85% of those locations, there was an increase in the number of new rental listings over the past week compared to the previous week. In many areas, there was a significant increase in new rental properties advertised. Telford in the West Midlands saw rental listings up almost 160% in the week of the stamp duty deadline, compared to the previous week, and in Stevenage new ads almost doubled. While five out of the top ten areas in terms of a rise in rental properties being advertised, were in the North of England. Of the major cities, London saw new rental property listings up 19.4% between 28th March and 3rd April, compared to the previous week. While, in Manchester and Birmingham, new rental ads were up 28.7% and 49.9% respectively. The following table shows the UK towns and cities that saw the biggest increase in new rental property listings between 28th March and 3rd April, compared to the previous week, 21st March to 27th March. Dan Gandesha, CEO of Property Partner, comments: “Inevitably there was a final rush by investors to complete on property purchases ahead of the 1st April stamp duty surcharge deadline. More rental properties on the market is good news for tenants, but sadly this looks like a temporary blip. The savings landlords have made may turn into losses further down the line. Future cuts to mortgage interest tax relief and likely interest rate rises, could wipe out profits and force many landlords to sell up. Longer term we’re likely to see the supply of rented properties dropping and rents increasing. The pressing issue is to get Britain building more homes for tenants, as well as buyers. The Government has changed the whole structure of the UK buy-to-let market and made it less attractive and viable for amateur landlords. Once the dust has settled on the stamp duty hike, anyone looking to invest in residential property would be wise to consider alternatives to traditional buy-to-let, which do away with the hassle, expense and tax implications.” Source link

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