Southwark Councill has acquired the former Toys R Us site at 760 Old Kent Road as part of its plans to secure the Bakerloo Line extension and increase housing supply in the borough. The 2.59-acre site was sold by CBRE, on behalf of the Joint Fixed Charge Receivers. It is currently
Landscaping was always prevalent during the 70s and 80s when people had fewer work hours and could afford to take the time out to decorate the space around their homes. In the early 2000s, most of this work was abandoned or given to professionals. Many people even started DIY landscaping
If you are the current owner of a commercial or residential property built back sometime in the seventies or sixties, there is a chance that asbestos-containing materials are present in the structure. If this is the case, it would be paramount you take an asbestos survey. But why would you
National Apprentice Week runs between the 8th-14th February and this year the team at Lee Marley Brickwork Ltdare celebrating their amazing apprentices and how well they’ve adapted to the changes in training that Covid-19 has created. Lee Marley Brickwork (LMB) is one of the UK’s leading integrated brickwork, scaffolding and stone
Soldiers using Salisbury Plain and Nesscliff Training Areas are the first to benefit from new carbon efficient accommodation, delivered as part of the £45m Net Carbon Accommodation Programme (NetCAP). The programme is being part-funded using money from a £200m investment to improve Armed Forces accommodation, which was announced by the
Two student accommodation projects set for completion for the 2022/23 academic year have secured the required forward funding of £43.8 million by major diversified real estate investor Barings. Managed by award-winning developer Alumno, the properties will provide must needed accommodation for students based in Manchester and Bermondsey in London.
LAUNCH OF ‘SO RESI AGENCY’ MARKED BY PARTNERSHIP DEAL WITH BRICK BY BRICK IN CROYDON Today, the shared ownership brand of leading housing association Metropolitan Thames Valley Housing has announced the launch of its new sales agency, created to help make shared ownership more accessible to homebuyers. SO Resi Agency’s
Euramax explores energy-saving home improvements The average UK home spends around £550 a year on space heating alone. Surely there is a smarter way to invest this money and achieve long-term savings? Leading uPVC windows and doors manufacturer, Euramax, has released an infographic that examines five ways homeowners can improve their home
Lismore Real Estate Advisors (Lismore) advised a UK fund client on the £10.5m sale of the multi-let Belleknowes Industrial Estate in Inverkeithing to PATRIZIA and Caisson. The sale price reflected a net initial yield of 5.95%. Belleknowes Industrial Estate is Fife’s premier industrial estate and is located only 15 minutes
Richardson and Ask Real Estate have secured £57 million funding from Legal & General’s Build to Rent Fund (BTR Fund) and Access Development Partnership (a joint venture between Legal & General Capital and PGGM), for the development of Tower Works, a new major Build to Rent site in Leeds City
Southwark Councill has acquired the former Toys R Us site at 760 Old Kent Road as part of its plans to secure the Bakerloo Line extension and increase housing supply in the borough. The 2.59-acre site was sold by CBRE, on behalf of the Joint Fixed Charge Receivers. It is currently occupied by Lidl on a lease expiring in 2028. It will become one of two new underground stations on the Old Kent Road, with Southwark Council planning to build at least 500 homes over the station. This is the latest purchase by Southwark as part of its plans to provide 11,000 new council homes by 2043. In 2019 it acquired the former Currys PC World site at 589 Old Kent Road for c550 homes, 593-613 Old Kent Road for 110 homes and 711-717 Old Kent Road for 200 homes and commercial space. Earlier this month Southwark Council’s updated Old Kent Road Area Action plan was launched for consultation, with further regeneration and provision of housing, commercial, community, cultural and green spaces all part of the proposed changes. Montagu Evans has advised Southwark Council on most of the site acquisitions needed to fulfil its housing commitments, including this deal. All acquisitions were of properties with existing investment income but with medium to long term opportunities to redevelop. Sam Blake, Partner at Montagu Evans, said: “This is an important strategic site for Southwark, accommodating a new tube station and increasing housing supply to help meet its ambitious targets. Better transport infrastructure will be a huge advantage to the area and this this investment should make the process much smoother as well as providing the Council with a good income stream while longer-term plans are being worked up.” Jonathan Allen, Residential Development at CBRE, said: “The disposal of 760 Old Kent Road to Southwark Council followed a competitive open marketing campaign, symbolising strong current market appetite for assets which benefit from short term income, underpinned by improving infrastructure and significant residential latent redevelopment value. This important site is a key part of the Old Kent Road masterplan having been identified as a location for a new underground station for the proposed Bakerloo line extension. This purchase follows the news that TfL remain committed to delivering the extension, and that their immediate priority is safeguarding the route from Elephant & Castle to Lewisham; emphasising the importance of the project in transforming the lives of those living and working on Old Kent Road.”
Landscaping was always prevalent during the 70s and 80s when people had fewer work hours and could afford to take the time out to decorate the space around their homes. In the early 2000s, most of this work was abandoned or given to professionals. Many people even started DIY landscaping projects with a level of enthusiasm, mostly propagated by the latest trends and innovative ideas available around them. According to experts like Sand4U, landscaping supplies have seen an increasing demand in the market since last year. If you are one of those looking to start their landscaping project but aren’t sure how to get the right materials, we’ve got you covered. Let’s look at some standard landscaping supplies and how you can make the right purchase. Soil If your plants don’t have good soil to rest, they will wither and die no matter how much care you give them. This is why it is essential to have the best quality soil you can find. Look for soil variants that have an even texture instead of clumps and stones. You can also smell the earth to check for any un-decomposed organic material or toxins. Rocks Rocks have a varied use in landscaping. They are mostly used for adding a more natural aesthetic to your garden. You can also use them to define certain limits and boundaries to your garden. For a completely natural look, go for rocks that are covered in moss and lichen. Smooth stones are appropriate for garden walls and fountains. Gravel Gravel can be used for making a pavement in your garden that blends with the natural surroundings. Gravel used for this purpose must have different particle sizes to provide a stable base when compacted. If you are using gravel for aesthetic reasons, you can go for coloured pebbles and make sure that the pebbles you buy are roughly the same size. Sand There are different types of sand when it comes to landscaping. If you are using sand for a child’s pit, then make sure that it is clean and free of sharp stones or pebbles. Bricklayers sand contains clay that helps it bind together more efficiently. If you like using sand as a base for paving, then coarse washed sand is the way to go. Mulches There are two types of mulches. Inorganic mulches contain pebbles and gravel, while organic mulches are made from plant materials and animal manure. If you are staying in a warm region, then sugar cane mulch is also an excellent option. Make sure you go for decomposed mulches to avoid nitrogen drawdown. This is a common problem with improperly composted organic mulches. Timber One of the main components of creating a boundary to your garden is a fence, and to make a strong fence, you need high-quality timber. Pine tends to be more resistant to termites, but this is only if the pine is well treated. The experts like Sand4U repeatedly stress that untreated pine is not very durable. Hardwood is another option for durability, but you must check for the drying period and the original material.
If you are the current owner of a commercial or residential property built back sometime in the seventies or sixties, there is a chance that asbestos-containing materials are present in the structure. If this is the case, it would be paramount you take an asbestos survey. But why would you need one? And what exactly is asbestos? We will answer these questions and learn more about the material in today’s post. Asbestos? What Is That? If you do not know about asbestos, this is a swell place for you to start. It is a naturally occurring compound you can find in many surface areas. It is an ideal construction material used by companies more than forty years ago due to it being heat-resistant, durable, and a perfect electrical insulator. Some companies even use it to manufacture all sorts of products – from vases, vehicle parts to kitchen utensils and ware. Asbestos is now illegal to use in most parts of the world. It is highly toxic and hazardous to health. And those who expose themselves to it are at risk of having lung conditions such as lung cancer, mesothelioma, asbestosis, and so much more. Exposure happens when an individual disturbs or damages a location where asbestos is present. The fibers it contains will latch off the surface, get into the air, and enter a person’s lungs. Where Can You Locate The Material? You can find it in both commercial and residential settings. The material is fire-resistant. And as such, it can be present in areas where temperature changes are frequent. You can find it in the following. Piping systems Roof shingles Popcorn ceilings Old furnaces and stoves Asbestos fabrics Fire door centers Interiors of walls Water tanks Fuse boards Door frames Old windows Gutters Floorings Lifting shafts Insulation Asbestos can also be present in electronics, communication lines, fences, and even the soil. You might want to get a quote on how to test for asbestos. What Is An Asbestos Survey? An asbestos survey is a form of examination or analysis to unearth if a commercial or residential structure contains asbestos or asbestos-containing materials or ACM. There are many types of asbestos surveys. The types of asbestos surveys include: Asbestos management and abatement survey This type of survey is for the occupation and usage of buildings, such as condominiums, apartments, and so forth. This survey functions to identify and locate asbestos that may require management and abatement in the future. Asbestos Refurbishment and demolition analysis Asbestos Refurbishment and demolition analysis are for construction purposes. It aims to discover ACM in construction sites where repairs, demolitions, and refurbishments take place. Soil sampling One trick for asbestos sampling is done through soil sampling. This survey is done before any form of construction happens. Inspections and re-inspections Experts perform this method after construction is complete, and the building has been in use for quite some time. They will perform a preliminary inspection in hot spots where asbestos can occur and will do so once again after a set period. Why Is There A Need For One? An asbestos survey is crucial. It can determine if a building contains asbestos or traces of it. A survey should come first before any renovations or repairs must be done. Workers can continue and work without any survey taking place. But they might disturb or damage areas and surfaces that contain the toxic material, thus releasing the fibers into the air, risking them with exposure. And if the compound is present, further action can come in. Additional processes such as clearing and abatement can make a structure safer for its occupants. Complexes and buildings have various functions. It is necessary to know what happens in such structures to know what kind of survey is needed. And the survey is paramount for the many types of construction work out there. Such action will let you know about the following. The type of asbestos present. The quantity and condition of the compound. Location of asbestos. Any additional actions or processes Is The Survey Expensive? Many factors affect how much you will spend for an asbestos survey, but you should first know what kind your structure requires. You will receive all sorts of answers, but there is no such thing as an exact amount to pay. You can go ahead and contact a local asbestos contracting company, and they will mandate you to give out the following information: The location of the structure The property’s type How old the building is The estimated size of the building Type of survey Available plans Other requirements The endeavor will polish your research skills. As you will search for a company that is accredited, licensed, and insured. And you will get what you pay for, too. If a company charges cheaply for their services, you might want to reconsider and double-check their background. It is better to be safe than sorry later. Lack of preparation, appropriate materials, and equipment can lead to disaster. And it will take a toll on your financial capabilities. The Last Note Managing a property and making it safe for the occupants is not a walk in the park. You have to do a lot of things to guarantee everyone’s safety. An asbestos survey is one such way that you can do so. It will save you from additional expenses due to asbestos-related incidents in the future. Check around your area for companies that will fit your requirements and get the job done efficiently.
National Apprentice Week runs between the 8th-14th February and this year the team at Lee Marley Brickwork Ltdare celebrating their amazing apprentices and how well they’ve adapted to the changes in training that Covid-19 has created. Lee Marley Brickwork (LMB) is one of the UK’s leading integrated brickwork, scaffolding and stone sub-contractors. The company recently employed Apprentice Training Manager Christian Hatherall-Good who is currently looking after 35 apprentices, (9 scaffold and 26 brickwork). Students are working on sites such as Oval Village Vauxhall with Berkeley Homes and Chelsea Barracks for Multiplex. Christian comments: “I believe that training on the job through an apprenticeship is the best way to learn. You can earn a wage while learning. I believe that real life learning is important, but cannot be all of the learning, as apprentices need to have the opportunity in a college or training centre to practice new skills, gain knowledge and have the opportunity to make mistakes, without it being detrimental to the build of the project and time constraints.” LMB Managing Director Lee Marley commented “As a former apprentice bricklayer I appreciate the opportunities that a quality apprenticeship can offer. It is also essential for the construction industry to encourage young talent into the sector and focus on evolving skills in order to improve productivity.” LMB has a firm belief in the need to develop the next generation of bricklayers, scaffolders, stone masons and steel fixers. Modern methods of construction are continually evolving, and the company want to ensure that the workforce of the future is equipped with the skills to adapt to this. The company has formed partnerships with Brooklands College, for brickwork, and the CITB, for scaffolding. This allows them to incorporate their own syllabus into the apprentice’s curriculum meaning that they are fully prepared to meet the changing needs of the construction industry. The company continue to have a close relationship with a number of other colleges which allows them to offer greater geographic and trade specific coverage in their recruitment programme. How a construction company has filled training gaps in the absence of colleges During the first Covid lockdown, it became clear that LMB apprentices would not receive the same theory and practical training they would have done at college and on site. This lockdown, with colleges being closed, the company have responded to the situation and developed a revised training plan, so their apprentices do not miss out on either the theory or practical side of their training. Before Covid restrictions set in, an apprenticeship at the company allowed apprentices to work on site four days a week and attend College one full day. In response to the current situation, the apprentices continue to have remote learning from the College tutor and from the Training Manager on their usual college day. Christian continues to visit the apprentices on site in controlled and social distanced conditions in order to carry out teaching and provide guidance to the apprentices while they work. The apprentices are usually placed in pairs on projects. Many of the company’s current apprentices are from Brooklands College. Christian has been working closely with the College and between both parties a plan for training the apprentices has been developed. This includes Google classroom groups with a wide a range of resources available such as ‘how to’ videos, Workbooks, PowerPoints, scenario assignments, worksheets and revision quizzes. On the apprentices’ usual college day, they attend at least two, one-and-a-half-hour theory sessions on Google MEET’s group video call with their tutor. Christian has also organised a one-to-one review session for each apprentice on |Google MEET’s with their tutor and on-site assessor. The aim being to check on the student’s wellbeing, work progress, targets and to provide advice on any work they needed help with. Naomi Hamilton, 19, has just completed her bricklaying apprentice NVQ2 and will be beginning her NVQ Level 3 shortly, after that she’d look to getting her gold CSCS card and one day would like to be a supervisor. Naomi won the first ever inaugural Female Trainee brickwork competition sponsored by Forterra in 2019. She has the following advice for others looking to get into the construction industry: “Don’t give up, keep at it, your hard work will be rewarded. Ask questions, you’ll find solutions which you can apply to your work. Keep building your skillset – challenge yourself. If you’re a female don’t be afraid, believe in yourself and prove people wrong, you can do this in a male orientated industry.” The next step for LMB will be to open their own training centre that would be at the forefront of brickwork and scaffolding training in the UK. Watch this space! For more information about Lee Marley Brickwork Ltd, please visit: www.leemarley.com. The company currently offers both brickwork and scaffolding apprenticeships in order to bring the next generation of tradesmen into the construction. To find out more about apprenticeship and careers opportunities at LMB please email jobs@leemarley.com
Soldiers using Salisbury Plain and Nesscliff Training Areas are the first to benefit from new carbon efficient accommodation, delivered as part of the £45m Net Carbon Accommodation Programme (NetCAP). The programme is being part-funded using money from a £200m investment to improve Armed Forces accommodation, which was announced by the Defence Secretary last summer. The MOD is investing more than £35m of this funding, in addition to funding from the British Army, into its nationwide programme, which aims to improve facilities for troops when they are training away from their permanent barracks. 38 new carbon efficient accommodation blocks, providing more than 1,700 bed spaces, will be installed across the UK Defence Training Estate by the Defence Infrastructure Organisation (DIO), working with industry partner Landmarc Support Services and its contractor Reds10. The remainder of the £200 million investment is being spent on Service Family Accommodation and training accommodation at Longmoor Training Camp, and improvements to Single Living Accommodation in Army barracks, RAF bases and Naval establishments. Westdown Camp on Salisbury Plain was the first to receive the new accommodation. The modern facility has an A-rated Energy Performance Certificate (EPC), just 12 points from achieving net zero, thanks to air source pumps and rooftop solar panels. This prototype was further improved on for three new accommodation blocks at the second site, Nesscliff Training Area in Shropshire, which have an EPC rating of -5. This means the buildings generate power for the site, reducing electricity costs. The buildings range in size as required, typically providing up to 46 bed-spaces each, which can be subdivided as needed. This innovative design means that different military units, whether trained soldiers or cadets, male or female, can be accommodated within the block together. Showers, ablutions and drying rooms are also part of the complex, improving the overall experience for personnel by removing the need for troops to move to different buildings. All accommodation is being designed and constructed offsite by modular building specialists Reds10 before being transported to site for assembly and installation. The manufacture and installation of the single block at Westdown Camp took just 15 weeks. The team was then able to take what it had learned and reduce this to 13 weeks for three buildings at Nesscliff. Installation on site takes about a month, minimising disruption for training troops compared to traditional construction. Labour was locally sourced at each site, helping to reduce the carbon footprint and boost local economies by providing 400 jobs across the programme, 150 of which were new. Another benefit of modular construction is that it allows the same design to be used for later blocks with improvements and alterations put in place as necessary. The buildings are also equipped with SMART building technology, which optimises energy use and provides data for improvements in the design and specification of subsequent modular constructions in the programme. Lessons identified following the installation of the Westdown Camp block have not only meant that Reds10 delivered the Nesscliff buildings as net zero, but also allowed for 30% reduction of embodied carbon compared to Westdown Camp. Brigadier Jonathan Bartholomew, DIO’s Head of the Overseas and Training Region said: “DIO supports our Armed Forces by providing what they need to live, work and train. Working closely with our industry partner, Landmarc, and Reds10 we are proud to have delivered the first new accommodation blocks on time and during the current climate. These new buildings are modern, flexible and efficient and will support troops on exercise, providing them with the high-quality accommodation that they expect and deserve.” Mark Neill, Managing Director at Landmarc, said: “The welfare of the troops that use the estate is our top priority and the accommodation facilities are a key contributor in delivering the best possible training experience. “We are therefore delighted to work with DIO and Reds10 to deliver a programme that will not only support the government’s commitment to improving living accommodation for our Armed Forces but will also provide a highly energy efficient solution that will help DIO meet its long-term carbon reduction commitments.” Paul Ruddick, CEO of Reds10 said: “Our brief was to deliver the lowest carbon usage possible. Air source heat pumps, which take supplementary electrical power from solar PV panels installed on the roof, generate the accommodation’s complete heating and hot water requirements. “We installed SMART technology in the building at Westdown Camp, which provides detailed information on how that building is being used, its hot water and heating demand and occupancy rates. This has enabled the team to monitor the energy demands of the building and feedback directly into subsequent building design and specifications, allowing us to deliver the buildings at Nesscliff as the first net zero buildings of the programme. “We are proud to be able to continually push our modular construction methods to deliver these sorts of results throughout the programme.” The programme will continue into 2021 and early 2022 with the installation of more carbon efficient accommodation blocks on other training sites, some of which will be larger. These sites include Knook Camp on Salisbury Plain, Brunswick Camp in Hampshire, Castlemartin in Pembrokeshire, Warcop in Cumbria and West Tofts and Wretham in Norfolk.
Two student accommodation projects set for completion for the 2022/23 academic year have secured the required forward funding of £43.8 million by major diversified real estate investor Barings. Managed by award-winning developer Alumno, the properties will provide must needed accommodation for students based in Manchester and Bermondsey in London. The 4,600 square metre project on Bermondsey Spa Gardens is Alumno’s fourth development in the London Borough of Southwark and will provide fully integrated facilities for 143 students. These include high-quality rooms with shared amenities, such as a basement cinema lounge, study room and community area. The site is located close to Bermondsey underground station with good access to several world renowned higher educational institutions. HG Construction, which recently completed Alumno`s latest project in Norwich, has been appointed as the main contractor. In line with Alumno’s policy of delivering key benefits to the local communities adjacent to its projects, the developer is working with a Bermondsey nursery to help with a historical legacy book, as well as refurbishing a playground, and collaborating on an innovative wayfinding scheme to help visually impaired students find their way around the area. The 1,449 square metre central Manchester development will comprise 62 studio apartments, along with a communal area, rooftop terrace, office and feature storage space for 12 bikes. It is located within the campus of Manchester Metropolitan University, with the Manchester University Campus close by. Alumno is also partnering with charity One Manchester to raise £50,000 for local projects, and is again helping to fund a wayfinding project. GMI Construction Group has been appointed the main contractor on this scheme. In both cases, Alumno will commission new art to enhance the public spaces around each building, another trademark of all its developments. “We are absolutely delighted to have concluded this agreement with Barings, a world leading real estate investor,” said David Campbell, Founder and Managing Director of Alumno. “This is a huge boost for our business coming into 2021. It also highlights the confidence in bringing forward major investment into the purpose-built student accommodation (PBSA) sector, which has again demonstrated its resilience during these challenging times.” Commenting on the funding, Darren Hutchinson, Managing Director – Head of UK Real Estate Transactions at Barings, said: “These are two high-quality PBSA assets in very strong locations in London and Manchester. Both London and Manchester are undersupplied markets supported by strong universities and a deep occupier demand. We are excited to work with Alumno to create well-designed, contemporary accommodation that will appeal to a wide range of students.”
LAUNCH OF ‘SO RESI AGENCY’ MARKED BY PARTNERSHIP DEAL WITH BRICK BY BRICK IN CROYDON Today, the shared ownership brand of leading housing association Metropolitan Thames Valley Housing has announced the launch of its new sales agency, created to help make shared ownership more accessible to homebuyers. SO Resi Agency’s first deal is with Brick By Brick, the development company set up by Croydon Council to provide high quality and affordable homes across the borough. The newly established SO Resi Agency will handle the sale of these affordable homes, which will be available for purchase through shared ownership. The homes comprise of one, two and three-bedroom apartments alongside a small number of maisonettes, in keeping with demand for entry-level properties for local first time buyers. The three schemes, located in Upper Norwood, Thornton Heath and South Croydon in South London, are designed by outstanding architects, including RIBA Stirling Prize-winning Mikhail Riches. Homes have been developed to a high specification, with timber parquet flooring, Silestone worktops, Bosch appliances and private balconies. All have a range of integrated energy efficient features to ensure their sustainability credentials, including secure cycle storage, solar energy, electric vehicle charging points, and an Environmental Performance Certificate rating of B or higher. Diana Alam, Head of Sales at SO Resi Agency, comments: “We are excited to announce our first partnership through our new SO Resi Agency, and to work together with Brick By Brick to increase levels of affordable homeownership in Croydon. Partnerships such as these create a genuine opportunity to leverage expertise and work alongside equally ambitious partners to accelerate the delivery of much needed local, affordable housing. “Croydon is a highly searched area on the SO Resi website, demonstrating that there is a clear demand from customers for shared ownership properties in this area as well as Greater London. We are pleased to be supporting Brick By Brick with the sale of these properties at three developments in the borough, which will allow aspirational first time buyers get onto the property ladder and secure their own home.” Colm Lacey, CEO at Brick By Brick, said: “Brick By Brick’s partnership with SO Resi Agency will help us to provide high-quality affordable housing to those who need it in Croydon and accelerate the returns we provide to our shareholder Croydon Council. These high-spec homes, which have been designed to our usual high environmental standards, offer a very appealing option for local people looking to take their first step onto the property ladder.” The award-winning team at SO Resi launched the innovative new shared ownership sales agency for external parties earlier this month, with an official virtual launch set to take place in February. The aim of SO Resi Agency is to provide greater access to affordable homes available with external parties including housing associations, local authority housing providers, investment funds or private developers able to promote their property on the SO Resi website. As well as promotional support, partners will be able to access the SO Resi teams’ shared ownership expertise including marketing and sales support. SO Resi partners will be able to gain increased exposure for their shared ownership properties via the agency website which already attracts approximately 60,000 visitors every month. Despite the unprecedented challenges the pandemic has posed for the country and the housing sector over the last year, SO Resi has continued to report high levels of demand for shared ownership due to its affordable route to homeownership. To find out more about SO Resi or the new homes available through Brick By Brick in Croydon, visit www.soresi.co.uk or call 0208 607 0550.
Euramax explores energy-saving home improvements The average UK home spends around £550 a year on space heating alone. Surely there is a smarter way to invest this money and achieve long-term savings? Leading uPVC windows and doors manufacturer, Euramax, has released an infographic that examines five ways homeowners can improve their home this winter to keep warm, without turning up the heat. When winter approaches and the temperature starts to drop, many homeowners begin thinking about how they can reduce the cost of their energy bill. This year, keeping homes warm without excessive costs is more relevant than ever. In April 2020, 46.6 per cent of people in employment did some work at home, according to the Office for National Statistics (ONS). Many people traditionally turn their heating off during the day while they are out of the house. However, with government advice to work from home wherever possible not set to cease, this will not be the case. Many people will spend their days inside their homes this winter, meaning heating expenses will rise. As a result, homeowners will need to take actions to keep their homes suitably warm, without increasing their financial outgoings. As well as lowering costs, homeowners may also want to explore more environmentally friendly heating methods. In summer 2020, the UK government announced that it would be supporting homeowners that want to make energy-efficient home upgrades, with its Green Homes Grant. As part of the scheme, the government will provide a voucher worth up to £5,000 or £10,000 to cover the cost of making energy-efficient home improvements. Homeowners and private and social landlords are entitled to the vouchers, which can be used for changes such as improved insulation or low-carbon heating. “Elevated energy bills are a worry for many people across the UK, especially in winter. Fortunately, there are things that can be done to help bring these costs down and relieve some financial strain,” explained Nick Cowley, managing director of Euramax. “Some of these changes are things that can be done at no extra cost, like setting your thermostat effectively, while others do take a bit more preparation. “We wanted to suggest some possible uses of the Green Homes Grant, while demonstrating how high-quality windows and doors can improve the energy efficiency of a house. This infographic offers some suggestions that will allow homeowners to optimise their home this winter, whatever their budget.” To learn more about Euramax and their products, visit euramaxuk.com.
Lismore Real Estate Advisors (Lismore) advised a UK fund client on the £10.5m sale of the multi-let Belleknowes Industrial Estate in Inverkeithing to PATRIZIA and Caisson. The sale price reflected a net initial yield of 5.95%. Belleknowes Industrial Estate is Fife’s premier industrial estate and is located only 15 minutes from Edinburgh airport. Extending to 140,000 sq.ft, it comprises 22 units of varying sizes and provides trade, warehousing and light industrial accommodation. It has a strong occupier base including Network Rail, Kwik-Fit, Speedy Hire, Plumbstore and Bella & Duke. Commenting on the sale, Chris Macfarlane, director of Lismore said: “The sale price and competitive bidding from both UK and overseas investors on this asset highlights the continuing demand for multi-let industrial opportunities across Scotland.” Lismore Real Estate Advisors and Shepherd & Wedderburn represented the vendor, whilst PATRIZIA and Caisson was advised by Galbraith and Morton Fraser.
Richardson and Ask Real Estate have secured £57 million funding from Legal & General’s Build to Rent Fund (BTR Fund) and Access Development Partnership (a joint venture between Legal & General Capital and PGGM), for the development of Tower Works, a new major Build to Rent site in Leeds City Centre. Having secured planning for Phase 1 of the scheme last year, Richardson and Ask Real Estate will act as developers for Legal & General’s latest 245 unit BTR development at Tower Works. Once complete, the mixed development will provide two new residential buildings with 1, 2 and 3-bedroom apartments to the south of Leeds railway station. Sir Robert McAlpine is in place as lead contractor and works will start on site in the coming weeks. Leeds is one of the UK’s largest cities in terms of population and economic output, yet supply of housing in the city centre has been severely constrained over the past decade. Current housing stock is unable to meet the growing demand for rental accommodation. Recognising the prospect for rental growth in Leeds, Legal & General has acquired two BTR sites in the city centre; Mustard Wharf in 2017, and now Tower Works. Both sites are central to the landmark South Bank regeneration area, and together will deliver 500 homes, offering one, two and three bedroom apartments, alongside over 16,000 sq. ft. of commercial space. Ben Holmes, Real Estate Director for Richardson added: “Tower Works is one of Leeds’ most exciting residential development opportunities and we are very proud to have secured funding with Legal & General to bring this superb site forward and create much needed new homes for the city.” Dan Batterton, Senior Fund Manager, BTR, LGIM Real Assets said: “As Covid-19 drives secular changes and a fundamental rethink of many areas of the real estate sector, BTR has remained largely unaffected. It has delivered stable income returns throughout the crisis, with occupancy, rent collection and demand remaining high. In the last two weeks we have let our 1,000th apartment and welcomed the first residents to our Mustard Wharf scheme in Leeds. This continued demand further demonstrates the need for homes with functional space to work, alongside convenient access to local cultural and leisure amenities.” “The Tower Works development further strengthens our existing portfolio. Today, it has committed over £2 billion in the sector, with nearly 2,000 operational apartments and a pipeline to deliver a further 7,000 apartments by 2025.” Legal & General was advised by global property consultancy Knight Frank.