Nick Child

4 Benefits of Getting a Home Warranty Plan

Buying or building a home is a significant undertaking. You will have to save and invest a lot of time and money to obtain your dream home. Once you get over the hurdle of acquiring a home, the other challenge is maintaining that home. There will always be damages that

Read More »

How to Protect Your Garden From Unwanted Wildlife

Gardening can have a hoard of unexpected benefits, both for your physical and your mental welfare. And then of course, there’s the most obvious upside to gardening – getting a lot of great, healthy produce. But gardening also comes with its own set of drawbacks and worries, one of which

Read More »

Real Estate Agent vs Estate Agents, What’s the Difference?

Whether you’re buying or selling your home, it’s important to know the role of a real estate agent and an estate agent, what each can do for you, and the differences. What does a real estate agent do? Real estate includes commercial or residential property and the land which comes

Read More »

What Is Modular Carpet And Is It Any Good?

Modular carpets, typically called carpet tiles, are an interesting flooring option. Carpet tiles have become more popular in recent years, and there are a few reasons why. In this blog post, we will discuss what carpet tiles are and whether or not they are a good choice for your home

Read More »

How to keep a Construction Site on Time for Delivery

The larger the project, the more difficult delivering it on time will become. So many things can happen that will slow down the site, throughout the building phase. Thankfully, there are tools and other ways to keep track of what is going on, so your project will not be delayed.

Read More »

The 4 Steps for Managing a Complaint with Your Employer

Dealing with a complaint towards your employer can be an intimidating process. as you will not know necessarily how your employer will respond. However, regardless of how difficult it may be, it is vital that you make your complaint known, as otherwise there is little chance it will be resolved.

Read More »

Chinese Property Tycoon Given Green Light To Overhaul Central London Mansion

Chinese billionaire, Cheung Chung-Kiu, has been given planning permission to build an eight-storey, 5,760-sq meter private palace overlooking the iconic Hyde Park in central London. Chung-Kiu, a Hong Kong-based property tycoon, plans to partially-demolish and reconstruct the mansion at 2-8A Rutland Gate in Knightsbridge (just south of Kensington Gardens). Property experts estimate the project

Read More »

What is a Data Room in Private Equity?

A data room is a secure space used mainly for housing confidential data. It can store and secure sensitive documents as well as handle financial transactions. Investment bankers, private equity professionals, and corporate development teams find an M&A data room essential in carrying out their projects. Virtual data rooms have

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Latest Issue
Issue 323 : Dec 2024

Nick Child

4 Benefits of Getting a Home Warranty Plan

Buying or building a home is a significant undertaking. You will have to save and invest a lot of time and money to obtain your dream home. Once you get over the hurdle of acquiring a home, the other challenge is maintaining that home. There will always be damages that you will need to repair now and then. Considering the many appliances and systems that modern homes come with, it would be good to have a home warranty so that you can have some peace of mind. Home repairs can be very costly. Since some damages arise unexpectedly, it is always good to stay prepared to avoid sudden shocks that can set you back thousands of dollars in repairs. You can get coverage for major home systems and then deal with minor repairs that do not cost a lot. Here are a few benefits of getting such a warranty. 1.    Save on Costs of Unexpected Repairs A home warranty covers repairs that occur to your appliances due to wear and tear. When using some appliances such as air conditioning, heating, electrical appliances, kitchen appliances and others, we never think about them getting damaged. Over time, these appliances will need servicing due to wear and tear. You might also need to replace some entirely. The appliances and systems never give any warnings that they need to get serviced or replaced. Most of them stop working. If a major appliance like a refrigerator or a cooling system suddenly stops working, you will be forced to dig deep in your pocket to repair it or get a replacement. A home warranty plan saves you such hustles by helping you cover a significant part of the bill, if not the entire cost. If you compare the premiums you pay annually vis-a-vis the amount you would save in case of a significant repair, you will see that it is worth investing in such a warranty.   2.    Get Connected to a Network of Professionals Whether you take a home warranty or not, you will need to get the services of home appliances professionals when you need to repair your systems. Many companies and individuals offer these services, but very few have the needed skills and experience to do a good job. Hunting for a trusted local operator can cost you time and money before you finally find one that will deal with your issues effectively. You may end up spending a lot more trying out several service providers. When you get a home warranty, you forget about such hustles since your warranty provider already has a connection with trusted and tried professionals. You need not make any inquiries or spend time looking for a reliable service provider. All you need to do is inform your warranty provider of the needed repairs, and they will have everything sorted out. You do not need to look for professionals from multiple websites since the warranty provider will simply send you one. 3.    Makes it Easy to Sell Your Home If you need to move to another place and sell your existing home, a home warranty may come in handy. Having a home warranty reassures new buyers that you have taken care of your appliances. Most warranties have a clause that warns of misuse of appliances to avoid malicious damages. When buyers see that your home has a warranty, they know that your systems must be in order since you, as the homeowner, have to comply with that clause if you make a claim later. The warranty can also suit a home buyer who has just depleted their funds and wishes to avoid any extra unforeseen expenses soon. 4.    Saves you Time Considering that time is money, a home warranty can save you valuable time. Home appliances seem to break down at the most unexpected times. In most cases, the breakdown is when you least expect them and the least prepared. You may not have money at the time to call for an emergency service provider or even have the time to look for one that is reliable. A home warranty will come in handy in such dire circumstances. Home warranty providers always have reliable service providers on their dials since this is their daily activity. They always know the best service providers and will find you one as soon as you contact them with an emergency. They save you the time you would have spent looking for a good service provider and save you the agony of having a failed appliance when you do not have money.

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How to Protect Your Garden From Unwanted Wildlife

Gardening can have a hoard of unexpected benefits, both for your physical and your mental welfare. And then of course, there’s the most obvious upside to gardening – getting a lot of great, healthy produce. But gardening also comes with its own set of drawbacks and worries, one of which is the appearance of unwanted wildlife on your property. Naturally, these critters are attracted to your garden as an obvious and free source of food, but that’s not great news for you. So what might you do to deter these critters from approaching? 1.  Fence up! Honestly, this shouldn’t even be on the list as it’s so obvious. Ideally, you should put up a fence around your garden from day one, so as to protect it against unwanted wildlife, but in case you fail to do that, the sooner, the better, honestly. What type of fence will depend on which type of wildlife worries you most. A basic fence that’s a few feet tall will keep bunnies at bay, but you may also want to cover it in chicken wire mesh or some other similar material that’s difficult to chew through, to keep rodents away. Make sure you run the fence a few feet into the ground, as well, to keep at bay diggers. 2.  Call a professional. If you’re unsure how you can protect your garden, you may want to bring in a qualified professional like Norcal Wildlife Removal.They’ll know what to look for, and how to best protect your property from the most worrisome pests. Speaking of which, you’ll want to identify the animal that’s most likely to bother you, based on region. Based on that, you’ll want to do your research. For instance, you can visitopossumpestcontrol.com to learn more about opossum control. 3.  Opt for less appetizing plants. Sure, you might have your heart set on a particular plant, but let’s face it, if that plant is particularly appealing to wild intruders, this might just not be practical. So a good idea would be to opt for less tasty plants, instead, so as to decrease the risk of attracting unwanted attention. Of course, some animals will be harder to deter than others. For instance, raccoons are particularly well-known for their broad palate, so keeping them at bay may be trickier, even if you do opt for the less tasty plants. In that case, you may want to look into subjects like raccoon trapping, to ensure the safety of your garden. 4.  Protect weaker and newer plants. Trunk wraps and other types of protectors are available for protecting new plants that are fresh from the store. Think about it, just like you’re more attracted to freshly bought food than to an apple that’s been sitting on the counter for a week, so will wildlife be attracted to your new plants. So take special care to protect these new, and particularly vulnerable plants, in the nursery stage, or else be prepared for a full-out invasion. 5.  Trim your grass. This works well for deterring unwanted wildlife from your property in general, but may also help your growing garden. If you have a naturally trimmed and tidy yard, this will pose a problem for a wild animal. It’s less safe for them to go into open fields, or neat lawns, because this means they have a higher chance of being exposed, and thus harmed. By keeping a tidy backyard, you’re less likely to attract unwanted wildlife to your garden, than if your backyard was messy and unkempt. These may seem like small details, but put together, they can really make a difference.

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Real Estate Agent vs Estate Agents, What’s the Difference?

Whether you’re buying or selling your home, it’s important to know the role of a real estate agent and an estate agent, what each can do for you, and the differences. What does a real estate agent do? Real estate includes commercial or residential property and the land which comes with it. So, the responsibility of a real estate agent in the US is to sell or lease that on behalf of the owner. Their role involves a lot of marketing because they are usually self-employed and work on a commission basis. This means it’s in their best interest to sell the property at the best price. The best real estate agents to work with are those who are fully licensed, such as those from Compass Real Estate. With fewer people having the money to buy property, you might wonder, is Compass real estate in trouble? While there might be more challenges ahead in selling and therefore making a commission, Compass is still finding ways to entice buyers who would like to become homeowners. One example of this is having listings that aren’t available on public websites, so potential buyers can find properties they wouldn’t have known about otherwise. What Does an estate agent do? An estate agent is a more typical term used in the UK. Although the job titles aren’t the only difference. An estate agent is employed to deal with the process of buying or selling a property but is rarely self-employed. Instead, they can be paid a basic wage and commission. Some might worry this makes them less motivated to sell a property, but the estate agent’s job security will still be tied to their performance, and of course, they will want the chance to earn more money. Some overlapping responsibilities You’ll notice there are some overlapping responsibilities. Estate agents and real estate agents both deal with buying and selling homes and can take you through the process. Many of the duties and expectations for both estate agents and real estate agents are very similar. Some differences There are some differences though, mostly related to how each one is licensed. Estate agents don’t have to be licensed, although it helps them stand out to potential home sellers or buyers. However, real estate agents are required to be licensed. However,  real estate agents are required to have a valid real estate license. As this involves at least 70 hours of training to get started, and constant training throughout their career to keep their license up to date, you can be certain they are qualified and aware of any recent changes in the industry. They are appointed by the person looking for a property, often after seeing a home listed in the regional database. With estate agents, a minimum of one agent has to have a license, for the company to claim to be a licensed estate agent. Many people selling their property or hoping to buy a home, particularly for the first time, might be apprehensive. So, choosing a qualified and licensed professional can help you put your mind at ease. So, even if there are bumps in the road, they can guide you through them.

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What Is Modular Carpet And Is It Any Good?

Modular carpets, typically called carpet tiles, are an interesting flooring option. Carpet tiles have become more popular in recent years, and there are a few reasons why. In this blog post, we will discuss what carpet tiles are and whether or not they are a good choice for your home or business. We will also explore the pros and cons of this type of flooring and help you decide if it is right for you! What are carpet tiles? Carpet tiles are squares of carpet. The size of carpet tiles can vary, but they are typically around 18 inches by 18 inches. Carpet tiles are made from a variety of materials, including wool, nylon, and polyester. They come in a wide range of colors and styles. What is the difference between carpet tiles and regular carpet? The main difference between carpet tiles and regular carpet is that carpet tiles can be installed in a variety of ways. You can use them to cover an entire floor, or you can use them to create custom designs. Regular carpet must be installed in one continuous piece, so it is not as versatile as carpet tiles. How are carpet tiles installed? Carpet tiles can be installed in several different ways. The most common way to install them is to use adhesive to attach them to the floor. You can also use a tackless strip to hold them in place. Carpet tiles can also be installed as a floating floor, which means they are not attached to the floor and can be lifted up if needed. What are the pros and cons of carpet tiles? There are several pros and cons to consider when deciding whether or not carpet tiles are right for you. Pros: Versatility –  Various styles/colors of carpet tiles can be used to create unique floors. Durability – Carpet tiles are made for heavy wear and tear. Easy Maintenance – Carpet tiles are easy to clean and can be vacuumed or swept. Price – Carpet tiles are typically less expensive than regular carpet. Cons: Installation – Carpet tiles can be installed in a variety of ways, but the installation process can be tricky and it is important to follow the instructions Color selection – Though carpet tiles come in a wide range of colors, there may not be enough options to match your decor. Lack of sound absorption – Carpet tiles do not absorb sound as well as regular carpet, so they may not be ideal for a home with children or pets. Not as soft as regular carpet – Carpet tiles are not as soft as regular carpet, so they may not be ideal for areas where you want to walk barefoot. How long do carpet tiles last? Carpet tiles typically last for 20 to 30 years. This is much longer than regular carpet, which typically lasts for about five to seven years. How much do carpet tiles cost? Carpet tiles typically cost less than regular carpet. The price can vary depending on the type of material and the size of the tiles, but you can expect to pay around $0.50 to $0.75 per square foot for carpet tiles.

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How to keep a Construction Site on Time for Delivery

The larger the project, the more difficult delivering it on time will become. So many things can happen that will slow down the site, throughout the building phase. Thankfully, there are tools and other ways to keep track of what is going on, so your project will not be delayed. Here are a few of them that will help you out on your next construction site. Time lapse Cameras If you are looking for a tool to keep track of all that is going on, on your construction site, then what you need to do is to use a jobsite camera for your time lapse. Maybe you have never thought about this before, or you did not know that such a professional camera existed today, but either way, the time lapse camera is the only solution that will enable you to know exactly what is going on, on a daily basis, and if the work rhythm is as it should be.Most importantly, if the work is not getting done on time, you will be able to easily figure out the source of the problem, giving you the possibility to act on it immediately and stop the waste of time. It is also the best tool to help you get better in the future, as you can watch the whole time lapse, at the end. This way, you will understand the weaknesses and strengths you have had on this site, so that you can adapt next time, by solving issues and keeping the best methods that have worked well this time around. Make Sure that Information flows on Site, all the Way to Management Trust is not a word that should be used on a construction site. You need results. And to get them, you should ask for everyone on site to report to base, through the head of each department, daily. Anything that you postpone tomorrow, could cost you one or more days of delays, in the end. Managers are there to read the info that they receive from the people on the ground and determine if all is going as planned.If it is not the case, it is also their job to react and change whatever needs to be, so that the work can get back on track. Sharing knowledge and receiving input from the people on site regularly, is also a way to get everyone involved and to benefit from any great idea one might have to accelerate the proceedings or to make the site safer for employees, as well. Acquire Digital Tools to maximize Your Efforts We live in modern times, where almost everything that we do can be helped through the use of digital tools. If we don’t keep up or use them to the maximum of their capacity, then we lose on efficiency, which we will probably end-up paying in time-loss on the site, which will translate into fees related to a late delivery. Digital tools offer a comprehensive platform for information to be translated into better management techniques and decisions. It should be used in every aspect of decision-making, when it comes to a construction site.

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10 Tips To Preserve Works Of Art And Antiques In Perfect Condition

Works of art and antiques are really delicate elements that must be taken care of in a very specific way to keep them in good condition. These pieces of great value are very delicate and require a series of special care to be taken into account, especially when organizing exhibitions in art galleries. Whether they are paintings, sculptures or relics, they must be protected from dirt and the passage of time so that they do not lose their value. Art is also an investment of great value for many that require large amounts of capital on many occasions. How To Preserve Your Works Of Art And Antiques Based on expert advice, here are a few tips to safeguard those wonderful collectibles that would make anyone proud: 1. Avoid Direct Sunlight Direct exposure to the sun’s ultraviolet rays has a great impact on almost anything, especially antiques and collectibles. This is why you should avoid locating a piece of art outside or in any place where it receives direct sunlight. Similarly, these delicate pieces should not be placed near any type of heat source. If it is a painting, exposure to high temperatures can damage the frame, weaken the colors and lead to condensation on the back. 2. Beware Of Humidity The level of water in the air can affect the condition of your artwork or antique. That is why it is essential to control the humidity of valuable parts by means of a humidity meter. Convelio UK experts recommend maintaining a temperature between 65 and 75 °F (18 and 24 °C) and a relative humidity between 55% and 65%. You should also be careful when moving works of art from one place to another, as sudden changes in temperature can cause damage. 3. Choose A Safe Location If you decide to fix the artistic element or antique to the wall, you must choose solid and quality anchors to hang the frames. Remember to position it at a high height to prevent it from being within the reach of potential accidents. 4. Frame It In Acrylic, Not Glass An effective protection measure is that the work is framed within an acrylic with UV filter. Some people choose glass to care for their valuable pieces, but this will not prevent discoloration or yellowing caused by contact with sunlight. 5. Do Not Use Cleaning Products Works of art and antiques are usually delicate, so soap or other products that can damage them should not be used when cleaning. Simply remove the dust with a feather duster or fine bristle brush. To clean the glass or acrylic that protects your piece, use a microfiber towel or soft, non-abrasive cloth. You could also buy a glass cleaner without ammonia. 6. Install Water Detectors To prevent your works from being damaged by a flood, we advise you to install water sensors next to any water source on the site. If a leak occurs, you will immediately receive an alert on your smartphone. 7. Protect Your Hands You should avoid handling paintings and even very old frames without wearing cotton gloves. This is to prevent the grease from your fingers from wearing away the colors and even the composition of the canvas. 8. Keep a Separation Between Each Work If you have multiple works of art in storage, be it paintings or antiques, it is important to place a two or three layer cloth between each piece to prevent bumps, dents and tears. 9. Do Not Leave Paints In Tubes If you’re not ready to hang your art yet, don’t leave your rolled paintings in the protective cardboard tubes for too long. Acrylic or oil paint stored in tubes is at risk of staining, cracking, or dullness if stored for months. 10. Pay Attention To Transportation Certain precautionary measures must be taken when transporting works of art and antiques. You should know that many of the accidents and damage to these pieces occur when they are moved to the collector’s home, the auction house and the galleries. For greater security, you could hire a company specialized in the transport of valuable pieces. These companies have the appropriate protection materials to move the works from one site to another without causing any damage.

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Get Started in Interior Design: What to Know If You Want to Start Your Own Business

You have finished a specific course and have an undergraduate degree in interior design, you have also gained some work experience in an office – but now what?  Some people are so passionate about their field that they soon want to start a business of their own. Indeed, it isn’t advisable to jump into launching a business when you have little to no work experience, no matter the field or industry of your focus. It is of the utmost importance – and highly recommended – to have extensive experience and build a solid network of connections before starting a business. This increases the chances of success in your future business.  Suppose you are an interior designer, passionate about this career. In that case, it is understandable you want to create something yours where you can steer the ship in whichever direction you want, focusing on your strengths and using this potential to the fullest in your company.  But where do you start? What should you consider before opening an interior design company? These are pertinent questions to ask yourself, even if you have vast experience. Starting a business is another challenge altogether, and it isn’t uncommon to feel a bit intimidated and anxious about this. However, excitement, motivation and drive are also there. So, use them to start planning.  The following article may be able to help you get organised with valuable tips on how and where to begin organising your interior design business. Determine The Business Focus and Type of Services You may be passionate about interior design, but there are certain areas of this field where you perform better or attract you more. This is your chance to choose the type of services you want to offer and determine what the focus of your business will be. Luckily, there are a multitude of options to choose from, and you can even decide to focus on particular types of rooms, such as kitchen and living rooms.  Now that you have the chance of doing what you truly want to – while considering current trends and consumer and industry demands – you need to make sure you do it well. Some of the services you can choose from include:  As you can see, these are some of the most relevant services an interior design business can offer nowadays. Chances are, you know where your strengths lie. So, this is a decision you need to make by yourself. Plus, it is crucial you do this before you get the ball rolling planning the business.  Develop A Style and Create a Brand Identity As is the case with any business, no matter its focus or size, developing a style and accurately conveying it through everything you do – from the type of services to logo and all the aesthetics visible online and offline – is vital. Therefore, you should take the time to carefully develop your own style and apply it in your business endeavours.  Based on this, your interior design brand identity will begin to take form. Whether you want to focus on room-specific interior design or home staging, you will need to have a clear vision of how you want to portray your business. It is crucial that your future clients understand perfectly what you do and see this clearly through consistent and cohesive online and offline content. Understand Your Business Finances Well Even before you have an up and running business, it is of the utmost importance to understand the finance part of it really well. Only this way can you plan a budget, develop a business plan and understand your future expenses so that you can invest in equipment and human capital properly. This part of your business preparation process can include researching digital tools that will be able to help you once your company is launched. Doing this ahead of time can help you see what investments are worthwhile and which aren’t. For example, digital tools like QuickBooks, an accounting software that can streamline your accounting department’s tasks and operations, is an example of a good investment.  Create A Well-Structured Business Plan Having a well-structured business plan is an imperative and indispensable part of starting a business. Without one, it is highly unlikely you will receive funding from investors or get a bank loan to get you started. And even if you don’t need financing, it is still crucial you develop a business plan for your interior design soon-to-be company.  This document serves as a portfolio and attack plan consisting of every detail of the business, from your budget, brand identity and business focus, marketing strategies, how you want to invest in the company, to the business goal and objectives on how to get there. This way, you will be able to attract business partners and form valuable collaborations once the company is launched.  Once the business is up and running, you can use the research you have conducted for the business plan and start applying it. And when it comes to business finances, using business accounting software from the beginning is recommended to see the company’s performance from day one.  Register Your Business Name It may seem unnecessary to mention this as it is evident that your business needs a registered name. However, this is essential, and you should allocate enough time for this part, given that this is how your customers will recognise you. A company’s logo and name should be uncomplicated, easy to pronounce and remember and not used by another business.  Choosing your business name can be challenging, mainly because selecting something catchy for an interior design firm is recommended. Once this is established, you must register it as soon as possible. With the name chosen, you can start the process of developing the brand image, from creating the logo to choosing the right aesthetic. Every element should be in harmony, as consistency is vital.  Promote Your Business from Beginning Once you have all the details of your brand established, you can

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The 4 Steps for Managing a Complaint with Your Employer

Dealing with a complaint towards your employer can be an intimidating process. as you will not know necessarily how your employer will respond. However, regardless of how difficult it may be, it is vital that you make your complaint known, as otherwise there is little chance it will be resolved. Here are 4 steps for dealing with a grievance at work.  If your grievance is serious enough, you may benefit from discussing your issue with an employment attorney, who can help you evaluate your options. Looking up employee attorneys near me will give you a good idea of what expertise is available in your area.  Speak Informally with a Superior  Workplace grievances can arise for a multitude of reasons, such as if you feel you have been the victim of bullying, discrimination, or any other unfair treatment. Naturally, it can therefore be difficult to speak to your employer about such sensitive issues.  Despite this, it is usually good practice to discuss any of these issues with your immediate superior informally first, before raising a formal complaint. This will give the company a fair chance to resolve the issue before it escalates. Conversely, if you feel uncomfortable speaking with your immediate manager or even if they are part of your issue, you can instead speak with a different superior. Raise a Formal Complaint  If you feel that your complaint has not been sufficiently addressed after discussing it, you will next want to raise the issue formally. Most companies have a formal complaint procedure, outlined either on their website or in their employee handbook.  It is generally a good idea to follow this procedure as closely as possible since this will demonstrate to your employer that you are trying to be as professional as possible throughout the process. When recounting your complaint, you should also try to supply as much evidence and precise information as possible, to support your version of events.  Meet with Your Employer Following their notification of your complaint, your employer should then carry out a formal investigation to verify your claims. Upon the completion of the investigation, you should then be invited to attend a formal meeting with your employer to learn the outcomes of the meeting.  It is important to maintain a cool head going into this meeting, as you will not know how your employer dealt with the issue. If you are particularly nervous, it may also be worth inviting a sympathetic colleague or even your attorney to attend the meeting with you.  Contact a Lawyer If you were unsatisfied with the outcome of your employer’s management of your complaint, you will normally be given the chance to appeal it. However, given that they failed to correctly manage it the first time, you may understandably be disillusioned with your company’s internal procedure.  In such instances, you may want to contact a labor attorney. Not only can this put more pressure on your employer to effectively resolve the issue, but in certain circumstances, such as when you have been discriminated against, you may also be entitled to compensation. 

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Chinese Property Tycoon Given Green Light To Overhaul Central London Mansion

Chinese billionaire, Cheung Chung-Kiu, has been given planning permission to build an eight-storey, 5,760-sq meter private palace overlooking the iconic Hyde Park in central London. Chung-Kiu, a Hong Kong-based property tycoon, plans to partially-demolish and reconstruct the mansion at 2-8A Rutland Gate in Knightsbridge (just south of Kensington Gardens). Property experts estimate the project may easily cost £100 million and be worth £500 million upon completion.  Super-size property construction ban doesn’t apply Westminster council’s unanimous approval came just months after a new ban on super-size, “Monopoly board-style” homes (over 200 square meters) constructed for overseas billionaires. The ban came into effect last year to improve housing affordability in wealthy areas of London, but doesn’t cover redeveloping existing houses. Since the Rutland Gate mansion is already classed as a single dwelling, Westminster council were unable to thwart the project as planning rules permit its redevelopment. And, unlike with the majority of large-scale private property developments, Chung-Kiu also won’t be required to help facilitate affordable home construction in the local area.  Expensive undertaking Chung-Kiu purchased the property earlier this year for £520 million from the estate of Crown Prince Sultan bin Abdul-Aziz of Saudi Arabia (who passed away in 2011). In many cases, a jumbo loan (aka a non-conforming conventional mortage) is used to purchase such high-value properties. Jumbo home loans are typically used to finance investment properties, primary residences, and vacation loans too expensive for conventional conforming loans.  In the building application, Chung-Kiu’s developers called the building “heavily dilapidated” and stated Chung-Kiu wants to “undertake works of repair, refurbishment and alteration to return the building into beneficial use as their London family home”. Originally constructed in the 1830s as a terrace of four family townhouses, the property has 45 bedrooms with 68 of its 166 bullet-proof windows boasting park views. The redeveloped property is set to feature several tonnes of marble, an Olympic-size swimming pool, a triple-height ballroom, and a multi-story basement to house Chung-Kiu’s luxury car collection. Keeping London homes affordable “We want Westminster to be home to thriving, mixed communities, not empty super-prime properties”, said Richard Beddoe, the counselor in charge of the planning. “That’s why we will be restricting the size of new luxury apartments and introducing a new extra-bedroom policy to make it easier for families to extend their homes so they have enough space to stay living in Westminster and are not forced to move out. Building the right type of homes for people to live in is a priority for the council and Westminster has delivered over 725 new affordable homes since 2017.” Chung-Kiu has an estimated net worth of between $1.7-$2.7 billion. He’s chairman of CC Land, a  property development company, which purchased the City skyscraper (aka the Cheesegrater) for £1.15 billion in 2017. CC Land also previously funded the 2019 Pierre Bonnard exhibition at the Tate Modern and helped redevelop Whiteleys shopping center in Bayswater.

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What is a Data Room in Private Equity?

A data room is a secure space used mainly for housing confidential data. It can store and secure sensitive documents as well as handle financial transactions. Investment bankers, private equity professionals, and corporate development teams find an M&A data room essential in carrying out their projects. Virtual data rooms have gradually taken over physical data rooms in financial transactions. Here is everything you need to know about virtual data rooms in private equity. Data Safety. Virtual data rooms in private equity firms are generally used to make treaties such as M&A to secure and store sensitive business information or documents with their customers and shareholders online. Information stored in virtual data rooms is considered critical. Thus, parties need to maintain data integrity. Companies will also use virtual data rooms to store copyrighted documents or trade secrets that are sensitive. Mergers and Acquisitions. Virtual data rooms have become the new trend in current-day financial transactions. It has made it possible for the due diligence procedure of the M&A treaty that gives data access to impending customers through a secure internet connection. Virtual data rooms provide these customers or companies with effective security measures to securely access and share their documents. If the treaty does not close, authorization to the virtual room is withdrawn. Premeditated partnership. Virtual data rooms ensure that data or information shared by companies intending to merge does not leak if the companies do not come to an amicable deal. Companies can therefore be assured that all their precious data is protected. This enables the companies to partner with other firms with absolute certainty of data integrity. This is a condition brought forward by the use of virtual data rooms. Board Interactions. On certain occasions, board members of the companies do not necessarily reside from a single region or do not occasionally travel to the company’s headquarters. The internet brings in the need for a system that allows all board members to access critical information from wherever they are. Virtual data rooms play a major role in ensuring that this is possible on a single podium without risk of data leakage to unauthorized persons or members. Audits. Firms are sometimes faced with circumstances where external parties evaluate the firm’s data. At times companies are required to give up information to their compliance auditors. As such, you must incorporate virtual data rooms that enable safe sharing of the information without allowing it to get compromised. Virtual data rooms also offer a way to keep track of the information with this professional in a more secure environment. Virtual data rooms come with several features, including live chatting, drag and drop file upload, artificial intelligence, and advanced security features, among many more. Virtual data rooms are an excellent solution for private equity firms in getting the best investment objective. Ensure that you are more informed of the differences between virtual data rooms and their features before selecting a VDR service for your firm.

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