UK property manager Capco has come in for a 26 per cent stake in London-focused property firm Shaftesbury for £436m. Capco has bought the stake from a trust set up by Hong Kong tycoon Samuel Tak Lee for 540p per share, representing a discount of 13.9 per cent to the
The Manchester-based property group has promoted Anna Main to the board after less than a year with the business, as it looks to expand its commercial asset division. Landwood, which has its headquarters on Peter Street in the city centre, is a firm of surveyors, asset managers and auctioneers. Main joined
ANWYL Homes is offering “access all areas” remotely with a virtual relaunch of its first Lancashire development. Show homes at Bluebell Meadows in Fulwood, near Preston, opened in mid-March and dozens of people were lucky enough to see them before the development closed temporarily when the country went into lockdown.
One of the main questions when it comes to asbestos is if asbestos testing is required by law. In many cases, asbestos testing is a legal requirement. Occupying or working in a building that hasn’t had an asbestos survey might mean you’re breaking the law. The whole point of an
New property management platform apropos, developed by UK letting Agent DJ Alexander, has launched. The platform hopes to take the experience of DJ Alexander’s letting agents and property managers into the digital realm. The application allows property owners to track and monitor their full rental portfolio online by using an
Since March, all tenants – whether in private or social accommodation – can now sue their landlords if their homes have health-damaging defects. This is thanks to the Homes (Fitness for Human Habitation) Bill 2017-2019, which came into force for new tenancies from 20 March 2019 and, from now, applies
PLANNING has been submitted by a joint venture between Locksley Hotels Ltd and hotel group Ascena for the centrepiece of the much anticipated multi-million-pound Guildhall development in Nottingham, which will create more than 250 jobs for the city. Originally built in 1887, the Guildhall has hosted a magistrates’ court, police
According to the Occupational Safety and Health Administration (OSHA), there is a recognized hazard when working on the roof or at heights. Minimizing the dangers of working in such areas starts with a deep-rooted understanding of the risks and deployment of the necessary equipment. There are various reasons why people
Due to the ongoing coronavirus (COVID19) pandemic and concerns about health and safety, VinylPlus® has decided to host the VinylPlus Sustainability Forum 2020 online. This single day ‘virtual’ event will be held on October 15th, 2020. Featuring expert speakers, quality speeches, interactive debates and live polling sessions, #VSF2020 will explore
Industrial asset management specialist NSM has let an additional unit to global logistics giant Hermes – with the deal from initial enquiry to occupation taking just five days. As demand for logistic and industrial space grows during the covid-19 crisis, NSM was initially approached by Hermes with a speculative enquiry
UK property manager Capco has come in for a 26 per cent stake in London-focused property firm Shaftesbury for £436m. Capco has bought the stake from a trust set up by Hong Kong tycoon Samuel Tak Lee for 540p per share, representing a discount of 13.9 per cent to the closing Shaftesbury share price on 29 May. Ian Hawksworth, chief executive of Capco, said: “As long-term investors in the Covent Garden estate and the West End, the investment in Shaftesbury represents a unique opportunity to deploy our capital in an exceptional portfolio at an attractive entry price, which we believe will generate long-term value for Capco shareholders. “Capco’s world-class estate, strong balance sheet and significant financial flexibility ensure that the company is well positioned. Whilst we can expect continued market uncertainty in the near term, we are confident about the long-term fundamentals and prospects for the West End and prime central London.” Shaftesbury said it “looks forward to engaging with Capco as it would with any other shareholder in the company”. Capco said it believed the deal was attractively valued, “with an implied price of approximately £1,200 per square foot and a yield of 3.3 per cent based on Shaftesbury’s 2019 total dividend of 17.7p per share”. Capco said it was funding the investment through the £705m Covent Garden revolving credit facility, of which £255m remains available for drawdown. In the light of the deal, Capco said it has decided not to complete the return of £100m to shareholders through the share buyback programme announced earlier this year, under which £12m had been returned to shareholders prior to being suspended in March 2020. Tak Lee has repeatedly clashed with Shaftesbury’s management after feeling he was left in the dark over a 2017 share placing. Today Shaftesbury said Tak Lee has withdrawn legal proceedings against the company related to the 2017 fundraising. In January Tak Lee voted against resolutions to reappoint some of the company’s key management figures including chief executive Brian Bickell, finance director Chris Ward and chairman Jonathan Nicholls. Rothschild & Co is acting as lead financial adviser and sponsor to Capco on the transaction, BofA Securities is acting as financial adviser and Herbert Smith Freehills is acting as legal adviser. Capco shares rose 1.5 per cent to 166p and Shaftesbury shares fell 1.5 per cent to 617p.
The Manchester-based property group has promoted Anna Main to the board after less than a year with the business, as it looks to expand its commercial asset division. Landwood, which has its headquarters on Peter Street in the city centre, is a firm of surveyors, asset managers and auctioneers. Main joined the company last August having spent the previous four years as a director and head of asset and property management at consultancy Avison Young. She joined Landwood to head up the firm’s newly formed commercial asset division and, following a successful nine months, has been promoted to the board, bringing the total number of directors to eight. Main heads a team of five in the commercial asset division, which manages assets on behalf of clients including FRP and Grant Thornton. The team is expected to grow further to cope with an increasing workload, and recruitment is underway. Main said: “I came here to bring a fresh approach to asset management and am delighted with the results so far. “As businesses re-open, we are really looking forward to building an even larger client base of high-net-worth firms, property trusts and property owners.” Mark Bailey, managing director at Landwood Group, added: “It’s been a period that nobody could have predicted, but Anna and her team have been agile to spot opportunities and grow their arm of the Landwood business significantly.”
ANWYL Homes is offering “access all areas” remotely with a virtual relaunch of its first Lancashire development. Show homes at Bluebell Meadows in Fulwood, near Preston, opened in mid-March and dozens of people were lucky enough to see them before the development closed temporarily when the country went into lockdown. Ahead of Bluebell Meadows reopening to visitors by appointment only, Anwyl is inviting homebuyers to an online virtual relaunch via its social media channels this Saturday (June 13). Matthew Gould, head of sales for Anwyl Homes Lancashire, explained: “Bluebell Meadows is our very first development in the actual county of Lancashire; the first place where we’ve built Hartford and Delamere style show homes and now it is going to host our first ‘Access All Areas by Anwyl’ virtual event. “Anwyl is renowned for delivering thoughtful homes and while our sales offices and show homes have been temporarily closed, we have been carefully considering how to embrace fresh ways of helping homebuyers find a new home. We already have video tours of our show homes available, but Access All Areas by Anwyl is an innovative way for us to interact with buyers through a series of short films available across our social media channels.” The virtual event starts at 10.30am on Saturday (June 13) with an introduction to Anwyl and the exclusive 26-home Bluebell Meadows development. There will also be a chance to “meet” the site manager; find out more about the process of buying a new Anwyl home, including the Move Simple scheme; and to hear from an independent mortgage advisor. “This virtual event will enable buyers to experience everything they’d normally see and hear when they visit the development and more,” Matthew added. “The advantage of it taking place virtually is that there’s no need to worry about social distancing or restricting numbers. Plus if you can’t make it on the day, you can watch later; or you can pause, re-wind and share with family and friends. Of course, nothing quite beats viewing a property in-situ and so we’ll also be inviting people to make an appointment to see the show homes for themselves.” Anwyl has introduced strict social distancing guidelines across its developments, with a limited number of visitors allowed on site and in the show homes by appointment only and hand sanitising stations to help keep staff and customers safe. Located off Ladybank Avenue, in Fulwood, Bluebell Meadows features a choice of four-bedroom detached homes, with prices from £331,995. The virtual relaunch of the development takes place from 10.30am on Saturday (June 13) via Facebook, Instagram and YouTube. The sales office and show homes will be open by appointment only from Saturday afternoon. For more information, including the latest availability and pricing, see the website www.anwylhomes.co.uk/our-developments/bluebell-meadows-fulwood.
One of the main questions when it comes to asbestos is if asbestos testing is required by law. In many cases, asbestos testing is a legal requirement. Occupying or working in a building that hasn’t had an asbestos survey might mean you’re breaking the law. The whole point of an asbestos survey is that you know if your building is safe to occupy, or that your renovation/demolition is safe to do. Having this information can not only save your life but save the lives of other people working or living in the building. Exposure to asbestos usually happens when the person responsible for the property didn’t have an asbestos test completed. There are legal requirements for asbestos surveys, but there are also instances that you are not required to have one completed. For clarity, here are the areas where you will need asbestos testing: Property built before 2000 and; A public area of a domestic building or, Construction work or, Non-domestic buildings. The age of the building will be one of the deciding factors. Any building that predates the year 2000 has a high chance of containing ACM (asbestos-containing materials). Asbestos was a popular material used for construction. It can often be found in insulation, sheeting, rainwater goods, partitions, doors, ceiling panels, vinyl tiles, and many more places within the home or commercial building. You are unlikely to be able to tell if something is asbestos just by looking at it. Which is why an asbestos test will become your first line of defense. Asbestos fibers are tiny, and when they are disturbed, they cause many asbestos-related illnesses. For asbestos testing, a sample of the material will be taken and tested in a lab. This will be able to tell you if the material contains asbestos and the amount and type. For non-domestic public buildings – schools, hospitals, and offices, here is the Control of Asbestos Regulations. 3. To manage the risk from asbestos in non-domestic premises, the duty holder must ensure that a suitable and sufficient assessment is carried out as to whether asbestos is or is liable to be present in the premises. 4. In making the assessment— such steps as are reasonable in the circumstances must be taken; and the condition of any asbestos which is, or has been assumed to be, present in the premises must be considered. The Control of Asbestos Regulations 2012 Duty to manage asbestos in non-domestic premises For part, domestic buildings, with public/shared spaces: The ‘duty to manage asbestos’ requirements of regulation 4 of CAR 2012 do not normally apply to domestic premises. However, the requirements do apply to common parts of premises, including housing developments and blocks of flats […]. Examples of common parts would include foyers, corridors, lifts and lift shafts, staircases, boiler houses, vertical risers, gardens, yards, and outhouses. HSE Asbestos: The survey guide pg.9 For a domestic residence, the landlord or owner is responsible and should ensure that when there is a suspicion of asbestos or renovation work to be carried out, they provide that a risk assessment is carried out. Failing to do so can mean a landlord can be prosecuted.
New property management platform apropos, developed by UK letting Agent DJ Alexander, has launched. The platform hopes to take the experience of DJ Alexander’s letting agents and property managers into the digital realm. The application allows property owners to track and monitor their full rental portfolio online by using an online dashboard which shows full visibility of all transactions. This is accessible 24/7 on mobile, desktop or laptop with live notifications. The team made the decision to launch this new system in spite of the global pandemic, hoping that the platform will help set the standard for what can be expected in a post-COVID world. Apropos believes that this will help them prioritise the wellbeing of landlords, staff and tenants during this difficult time. David Alexander, apropos joint managing director said: “Our day to day priorities remain the safety, security, and welfare of all our staff, landlords and tenants. We must operate in the most responsible and flexible way we can during these extraordinary times. “But equally it is important to recognise that the coronavirus outbreak, despite the current lockdown and difficulties it is currently imposing on all of us, will not last forever.” The platform helps integrate agents across the UK’s major property hotspots, including Edinburgh, Manchester, Birmingham, Liverpool and London. The team is hoping to expand this reach over the coming months. Alexander added: “We believe that our platform, which draws on our 40 years of experience in the letting sector, is the future for property management backed up by outstanding service from our apropos agents. We now have 44% of the UK covered by our apropos agents and will be extending our network to cover the largest 100 towns and cities in the country.” Many other businesses are taking this time to launch new schemes. Insuraguest launched a vacation rental program guaranteeing coverage to a $5 million limit, and many hosts have responded to the uncertainty with platforms to create their own direct booking sites.
Since March, all tenants – whether in private or social accommodation – can now sue their landlords if their homes have health-damaging defects. This is thanks to the Homes (Fitness for Human Habitation) Bill 2017-2019, which came into force for new tenancies from 20 March 2019 and, from now, applies to existing, historic tenancies too. “Landlords have had 12 months to consider the implications of the act”, says Hudson Lambert, managing director of Safeguard Europe – the UK’s leading specialist in damp and waterproofing, and masonry repair solutions – “and they’re running out of time to improve these properties before the law starts to bite. Our advice to any that haven’t done so is to assess properties as soon as possible and make the necessary repairs or modifications. No one should be living in homes that are damaging to health.” The Act sets out a raft of issues which, if defective, could cause harm to tenants, including proper ventilation and freedom from damp. The presence of damp and poor ventilation can both promote mould growth, and the relationship between ill health, damp and mould and the negative impact on respiratory health are well established. The English Housing Survey 2018-2019 found that 7% of private rented dwellings and 5% of social housing had some sort of damp problem. In certain sectors, that figure appears to be much higher. Research by the National Union of Students published in February 2019 found that 35% of students were living in rented accommodation with damp and mould. Previously tenants with damp and mould problems could attempt to legally address them by pursuing a statutory nuisance notice with local authority environmental health officers. However, the response to council intervention from landlords has often been to begin eviction proceedings against the tenants, which deterred tenants from complaining. Under the new regime, tenants can sue landlords, not only to force them to fix health-damaging defects, but also for compensation. The courts will decide on the timeframe for any required works, and what the level of compensation will be. For landlords and their advisors seeking expert advice on damp, Safeguard offers a CPD seminar programme on the major causes and effective treatments. The headline CPD, the RIBA-accredited Dealing with Dampness, is an overarching introduction to the problems of rising and penetrating damp that will give landlords, specifiers, builders and others enough information to help them tell the difference between the two and determine sources, while giving options on how to act to cure the problem. For details of Safeguard’s CPD programme, visithttps://www.safeguardeurope.com/training-courses/cpd-seminars
PLANNING has been submitted by a joint venture between Locksley Hotels Ltd and hotel group Ascena for the centrepiece of the much anticipated multi-million-pound Guildhall development in Nottingham, which will create more than 250 jobs for the city. Originally built in 1887, the Guildhall has hosted a magistrates’ court, police station and fire station during its history. The planning application submitted by Ascena and architects RPS Design Group reveals a 162-bed, four-star hotel, which will include a rooftop fine dining restaurant, spa and wedding and conference facilities to bring the building into its next lifetime. John Wilby, project lead for Ascena, said: “We are absolutely delighted to have now submitted planning for the exciting development of one of Nottingham’s most iconic buildings and we hope, all things being well, that work on the site will commence later this year. “It is a landmark development for the city and a key destination for people across the East Midlands. Following close work with heritage consultants Turley and Historic England, we’ve ensured that the plans submitted will see a sensitive restoration of the Grade II listed building. The Guildhall is an amazing building and we are naturally delighted to be working with the city council.” The development will house larger than average (28 square metre) luxury hotel rooms and existing courtrooms in the building will be converted into bar and restaurant facilities, retaining the original listed features. The designs for the modern extension to the northern elevation of the existing building will also utilise high-grade materials to give a nod to Nottingham’s lace heritage. The Guildhall building itself will house the hotel, while more modern extensions at the back of the building would be demolished and rebuilt. Jack Turton, director for Ascena, added: “With the building sitting derelict for the best part of a decade, we’re absolutely thrilled to be working with the city council in taking steps towards bringing this iconic Nottingham building back to life – it’s been a long time coming!” City Council Leader, Councillor David Mellen, said: “This is a site that we have long been keen to see developed with a mix of uses, including a high-quality hotel within the main Guildhall building itself. We therefore welcome the fact that a developer is putting forward proposals which could reinvigorate this prime city centre site. “The Guildhall is one of Nottingham’s most distinguished buildings and there has been a great deal of interest in what its future holds. The proposal for a high quality, sensitively restored hotel is an appealing prospect as we continue to transform the city centre into a new destination for residents, businesses and visitors. “It shows ongoing confidence in Nottingham as a city to invest in even during the coronavirus crisis and would complement our wider ambitions for the city’s growth.” Ascena owns and runs a number of luxury hotel and restaurant facilities around the UK, one of which is the Birmingham restaurant Opheem – one of only ten Indian restaurants in the UK to achieve a Michelin star. Opheem which is run by Ascena business partner Aktar Islam. Aktar, who is a former winner of The Great British Menu and The F Word, will be running the rooftop restaurant of the Guildhall development.
According to the Occupational Safety and Health Administration (OSHA), there is a recognized hazard when working on the roof or at heights. Minimizing the dangers of working in such areas starts with a deep-rooted understanding of the risks and deployment of the necessary equipment. There are various reasons why people might be on a roof, especially on a commercial building rooftop. For example, maintenance workers could be inspecting the rooftop air handlers, or there might be project construction workers that need to finish a project. Whatever the reason, the property owner must still be able to protect and ensure the safety of the people who might be on the roof of their building. Take note that falls are one of the most common causes of severe workplace-related deaths and injuries. Fortunately, there are several ways to protect whoever is on your roof. Below are some of the ways to avoid fall-related accidents when on the roof. Fall Protection Guardrails Safety System Items which are not carried or worn like anchor points that protect against the risk of fall is under the fall protection safety system. One of the best examples is the guardrails. Guardrails are a stationary system used to safeguard workers from falls when working at height. This type of fall protection safety system is a preferred means of securing workers because they don’t have to be trained on how to wear, use, and inspect a personal fall protection system (PFPS). High-quality guardrails are a convenient and reliable means of fall protection since they act as a physical and visible barrier. Therefore, this fall protection system prevents falls between levels- from heights, stairwells, balconies, roofs, or open holes. The system is commonly used in many places, such as : warehouses retail shops construction sites shipping facilities industrial settings commercial buildings landscaping settings Handrails and guardrails are often used interchangeably. However, handrails and guardrails are not the same, even though guardrails usually have handrails. Generally, handrails are a handhold for people to support themselves when going either downstairs or upstairs. On the other hand, guardrails are specifically designed to prevent falls around the hazard areas. The OSHA has imposed regulations for when guardrails should be installed and specifications for how they must be implemented. By law, building owners or employers should comply with all regulations concerning fall hazards in the workplace provided by the OSHA. Moreover, this fall protection system must be used when people have access to unsecured edges of the following surfaces: Open edges of slab formwork for roofs and floors Around a mezzanine or balcony Around open platforms, raised platforms, or scaffolds Around elevated work surfaces If you are looking for a guardrail that can be installed temporarily, opt for a free-standing, portable, and OSHA compliant mobile roof safety rails. This safety guardrail is non-penetrating and meets the OSHA fall protection standards. Personal Fall Protection Equipment Items that are carried or worn, which protect users from falling, are under the category of personal fall protection equipment (PFPE). There are three PFPE types and methods currently of use. Each equipment focuses on a different risk level and work situation. The first type is called the travel restraint PFPE. It restricts or limits access to locations where a fall can take place. This restrictive PFPE is designed to prevent accidents such as falls. Travel restraint PFPE consists of the following: Anchor Rope Grab Lifeline or Lanyard Full Harness Make sure to pick an anchor that’ll fully support the force of the load. Also, it must be positioned correctly. Before you use the travel restraint PFPE, do the following: Determine all fall hazards in the area. Choose the right components like a snap hook, self-retracting lifeline, energy absorbers, and Y-lanyard. Find suitable anchor points. For example, an anchor point that is almost perpendicular to the hazard area. Ensure that a competent person inspects the equipment before and after use. If a single component of the travel restraint system is not working, that part should be removed immediately. The second type of PFPE is called the positioning PFPE, which enables the partial or total suspension of a worker. It is typically used to protect workers when climbing ladders, allowing them to work without using their hands to support them. The third type is called personal fall arrest systems (PFAS). This equipment isn’t designed to prevent falls from happening but stops the worker’s free fall from a working-walking surface. PFAS consists of self-retracting lifelines, personal fall limiters, connecting devices, and a full-body harness. Regardless of the type of equipment or method use, PFPS must be designed by an experienced and qualified person. An analysis or examination of the supporting structure must also be practiced. Quality Inspection There are several things to consider when examining fall protection systems and personal protection equipment. Has a fall protection system been correctly installed within the guidelines of the manufacturer? Are the calculations accurate to ensure safe load levels? Has it been constructed properly with the correct components? If the answers to these questions are no, then workers working at height may be in danger. Therefore, some problems that quality inspection must cover include: Signs of corrosion Checking damages in cables Energy absorbers inspection Inspection of harnesses and lanyards for cuts and breaks Re-tensioning of cables Checking damages to fittings Quality Training Although safety for people working at heights sits with the employer or building owner, the worker themselves must take responsibility for their safety. However, most of them lack the proper training or knowledge required to correctly identify whether a fall protection system or PFPE is safe to use. Failure in doing so could lead to severe injuries, or worse, death. Thus, quality training is imperative and is always the best form of protection. Takeaway Quality training, regular quality inspection, and the right equipment are essential. However, all count for nothing without the required safety methods and risk assessments considered in place. That said, all equipment must go through pre-checks. Consider hiring an external company
Due to the ongoing coronavirus (COVID19) pandemic and concerns about health and safety, VinylPlus® has decided to host the VinylPlus Sustainability Forum 2020 online. This single day ‘virtual’ event will be held on October 15th, 2020. Featuring expert speakers, quality speeches, interactive debates and live polling sessions, #VSF2020 will explore the theme #CIRCULARVINYL with participants now able to attend from anywhere in the world. Organised by VinylPlus®, the Voluntary Commitment to sustainable development of the European PVC industry, this year’s Forum marks two decades of leading on PVC sustainable development, with a focus on the key sustainability challenges and future transformation for the vinyl industry, both in the European and global contexts. The main topics to be examined during the online event will include the achievements of VinylPlus over the last 19 years and plans for building the new programme that will drive the PVC industry towards 2030 and beyond. The event will conclude with the VinylPlus® Product Label Ceremony. Brigitte Dero, Managing Director, VinylPlus, says: “While we are saddened not to be able to meet VinylPlus partners and their stakeholders in person, we are excited about presenting our stimulating programme in a virtual format and look forward to e-uniting the industry in another successful VinylPlus Sustainability Forum.” Online registration for #VSF2020 Goes Virtual will open soon. Brigitte Dero adds: “2020 represents a significant milestone in what we have achieved to date and the PVC industry remains on track to successfully meet VinylPlus’ ambitious targets by the end of the year. Yet our hard work continues amid a dynamic European policy landscape that makes our efforts even more relevant.” VinylPlus® is the Voluntary Commitment of the European PVC industry. The programme establishes a long-term framework for the sustainable development of the PVC industry by tackling a number of critical challenges in the EU-27, UK, Norway and Switzerland.
Industrial asset management specialist NSM has let an additional unit to global logistics giant Hermes – with the deal from initial enquiry to occupation taking just five days. As demand for logistic and industrial space grows during the covid-19 crisis, NSM was initially approached by Hermes with a speculative enquiry on Monday April 27 for expansion space at the Vector 31 Industrial Park, close to Junction 31 of the M1. A viewing was arranged, and Head of Terms were finalised within 24 hours. The lease was agreed and signed a day later with Hermes taking occupation of the 11,650 sq. ft unit on Friday May 1st. NSM Managing Director Nicky Jones said: “Demand for quality logistics and industrial space is huge at the moment but even in our most optimistic moment we never thought we would be able to deliver a deal like this in such a tight timeframe. I am incredibly proud of the NSM team and our partners for making a 5-day turnaround possible, it really shows how agile our business is. “We are obviously delighted to assist a current tenant and we have also been able to offer flexible leasing terms that suit their current business demands.” Vector 31 offers nine high quality modern industrial units with gated yards, centrally heated offices, dedicated car parking, heating and lighting in the warehousing areas, as well as 7m high eaves. As an industrial asset management specialist NSM manages more than 4.3million sq. ft of industrial property across the north. It currently looks after 669 units nationally with a rent roll in excess of £14m. David McPherson, Head of Depots said “We’re delighted that NSM has been able to support Hermes with a quick turnaround on the letting. Our business is incredibly agile and needs to have the ability to quickly scale up when demand is high, the pandemic has accelerated the shift from the high street to online. Additional pop-up depots like these give us the opportunity to operate safely and continue to support our clients so we can meet demand from the end customer and in turn support the government’s guidance to stay home wherever possible.”