IP Investment Management (“IPIM”), a Hong Kong-based boutique real estate investment manager and Maven Capital Partners (“Maven”), a leading UK property and private equity manager, have partnered to build Manchester’s first Hampton by Hilton hotel. The venture is Maven’s first hotel collaboration with IPIM, having already worked together on eight purpose-built UK student accommodation (“PBSA”) developments. Hampton by Hilton, Manchester, is Maven’s eighth UK hotel development and expands a hotel portfolio which includes brands such as hotel Indigo, Ibis Styles and Travelodge. The £24.6 million newly built hotel was designed by Tim Groom Architects, with Create Construction as the main contractor, alongside its sister company Create Developments, both part of north-west development experts, Create Group. The 221-room, nine storey hotel is the latest to join Hampton by Hilton’s growing portfolio, which includes 31 existing properties in the UK. Hampton by Hilton is one of the fastest growing global hotel brands, offering a consistent hotel experience at a competitive price point to business and leisure travellers alike.  There are over 2,500 Hampton by Hilton hotels in 29 countries worldwide. The hotel is operating under a Franchise Agreement with Hilton, one of the largest hotel companies in the world with nearly one million rooms in 6,300 hotels worldwide, and a Hotel Management Agreement with RBH, a leading independent hotel management and services company operating a diverse collection of branded and private label hotel properties across the UK.  RBH currently manages more than 45 hotels across the UK, including three on behalf of Maven.  Located at 41 Rochdale Road, the property is well-situated to serve business and leisure travellers staying in Manchester’s vibrant Northern Quarter, which features colourful street art, independent record shops and some of the city’s most iconic cultural venues. Manchester’s popular Arndale Shopping Centre is a seven-minute walk away. The AO Arena (formerly The Manchester Arena) is a 12-minute walk from the hotel, which has the highest seating capacity of any indoor venue in the UK.  Furthermore, the National Football Museum is located nearby, the Etihad Stadium is located 1.5 miles to the east and Manchester United Football Club is located 3.5 miles to the southwest. The Printworks, which is home to restaurants, bars, nightclubs, a cinema and a gym, are located 0.5 miles to the south. Colin Anderson, Partner at Maven, said: “We are delighted to continue our partnership with IPIM and are thrilled to add Hilton to our brand stable for what is our first development in Manchester. The new Hampton by Hilton is situated in a superb location with a host of attractions close by, and it will cater for the rising number of visitors coming to the area for leisure and business, as well as assist with the further enhancement of the city’s vibrant Northern Quarter.” Selina Williams, Executive Director, IP Investment Management, added: “I am very pleased to be furthering our relationship with Maven by partnering with them on our first hotel development. Despite opening in the midst of what is one of the most challenging years on record for the hospitality sector, we are optimistic about the future. Manchester is undoubtedly the UK’s second city with a bright future as part of the UKs northern powerhouse.” Graham Dodd, Managing Director of UK and Ireland Development at Hilton said: “It is a pleasure to see Manchester’s first Hampton by Hilton property completed and one step closer to welcoming its first guests. The city’s Northern Quarter is thriving and the addition of this hotel will further boost the area’s growing economy. We’re confident the high-quality accommodation, value-added amenities and thoughtful service the Hampton brand is known for will prove popular with locals and visitors alike.” Adrian Tottey, Managing Director of Create Construction commented: “Congratulations to all involved for completing this outstanding hotel project. The Covid-19 pandemic created a challenging environment during the build and it is a credit to the professionalism and expertise of the team that the hotel has been finished to such a high standard.”

National proptech firm, MakeUrMove, has secured a £1.3 million funding package from shareholders to achieve its ambitious growth targets. Since the launch of the UK’s first subscription service in 2019, MakeUrMove has transformed its innovative platform to focus on addressing landlord’s specific needs and putting them back in control of their rental properties. The success and uptake of the subscription service, called ‘The Good Landlord’, resulted in additional funding from existing shareholders, PP Asset Management, with the aim of MakeUrMove doubling the number of landlord subscribers in the next six months. Phil Pels, Owner at PP Asset Management said: “We fully believe MakeUrMove’s vision of using people-focused technology to transform the proptech sector for the better, addresses a vital gap in the market. MakeUrMove has proven over the years that its business model is viable and we are delighted to place more support behind their innovative approach to the private rented sector.” MakeUrMove continues to lead the way in developing innovative solutions aimed at helping the private landlord, recently launching tenant pre check services, digital viewing tools, editable digital contracts and a fully compliant document sharing portal. The platform goes beyond advertising and tenant find and focuses on handling the administration and tenancy management once a tenancy begins – utility notifications, renewals, maintenance management, rent collection and safety reminders are just some of the things MakeUrMove automates for the landlord to allow them to stay in control. The £1.3m funding will enable MakeUrMove, who launched in 2008 as the UK’s first national online letting agency, to execute new ground-breaking features. Plans in the pipeline will focus on both landlord and tenant solutions as the company recognises the importance of strengthening these relationships and building tools to support all stakeholders. The market as a whole has been poisoned by too many divisive voices and is in desperate need of a coherent solution which does more than what is currently out there. Renting and letting should not be difficult but it should be fair for everyone involved, good tenants and landlords should be celebrated and supported and MakeUrMove is on a mission to do just that. Alexandra Morris, Managing Director of MakeUrMove, said: “This is a truly exciting time for the business, and this funding will enable us to focus on evolving our services so we can continue to support our landlords and tenants. We are dedicated to the creation of innovative solutions in the private rental sector with technology at its core and our new features in development are key for helping us to reach our ambitious growth targets. “While the coronavirus pandemic forced much of the housing industry to close earlier this year, thanks to our flexibility and cloud-based technology, we continue to adapt to ensure we can keep supporting our landlords and help them maintain relationships with their tenants.” MakeUrMove is a leading proptech company and the only platform of its kind aimed at landlords. It was recently recognised for its leading customer service, winning ‘Best Online Letting Agent’ at The ESTAS 2020 (The Estate Agent of the Year Awards), as well as being shortlisted in the upcoming UK Proptech Awards and UK Business Tech Awards.

Funds advised by Hilltop Credit Partners, a specialist funding partner for SME residential developers, have completed a £2 million loan to Pars Developments to fund a private residential development in the Wiltshire village of Latton. The development sits on the edge of a National Nature Reserve and is a short drive from both the Cotswolds and Swindon. The facility will be used to fund the site acquisition, development of four new detached houses, and refurbishment of an existing semi-detached house; the facility also includes a VAT bridge loan. The target audience for the development is families looking to upsize, including London-based buyers seeking more rural locations with work-from-home space, private gardens and access to countryside leisure activities. “We are excited to be partnering with Hilltop, who have worked hand-in-hand with us to get this project funded. We believe this niche development will be received well by the market, particularly given the trends that have emerged post-Covid,” said Sepehr Izadpanah of Pars Developments. Latest Rightmove data suggests that homes sales agreed nationally were up +70% y/y in September, reflecting a number of factors, including strong pent-up demand, the introduction of government stamp duty incentives, and emerging structural changes in the nation’s housing market. The regional house price statistics from Land Registry also show pricing for newbuild housing stock in Wiltshire +7.2% y/y. The project has been sponsored by Pars Developments, who have decades of experience delivering high-quality, affordable family housing in the local Swindon / Wiltshire market. “We are pleased to be working with Sep, Morri and their development team on this project. Pars has a long history of successfully developing affordably priced housing in their local market, and this development fits perfectly with the direction the post-Covid market is headed – an increased focus on indoor and outdoor space and an ability to work from home in a beautiful part of the country,” commented Paul Oberschneider, Founder and CEO of Hilltop Credit Partners.

Sales activity in the £1m+ property market is storming ahead according to the latest Rightmove data, as wealthier buyers race for more space and leafier locations in the wake of the Covid-19 pandemic and changing lifestyle preferences. This, according to Hilltop Credit Partners, makes it a perfect time to support developers and provide investors opportunities to invest in a market that has never looked more bouyant. Paul Oberschneider, CEO at Hilltop Credit Partners, said: “A common conception is that houses in the £1m+ market take longer to find buyers than the overall market because of their higher price points. But the latest data from Rightmove shows that UK’s million-pound homes are actually outperforming the rest of the property market in terms of the number of sales being agreed. The hottest millionaire markets right now are Norfolk, Wiltshire, Cornwall, Henley, Hackney, Tooting, Stoke Newington, Balham with affluent buyers willing to part with huge sums of money to buy larger homes.  “A big reason for this market sentiment is the ongoing pandemic which is pushing many potential buyers to swap city apartments for bigger homes with more living spaces and gardens. With the government’s big push for work-from-home once again, many employees are also expected to spend fewer days in the office and may look to relocate to a bigger property with more outdoor space. The post-Covid market will have an increased focus on indoor and outdoor space and wealthier buyers will be the first to move to bigger homes. “Since the lockdown this year, UK’s property sector has shown incredible resilience despite the market setbacks. Demand from residential developers continues to be strong, and we are encouraged by the strength we have seen in the UK residential market over the past several months. At Hilltop, we are extremely proud of our one-stop funding solution which continues to be well received by the market, and how we have provided c. £30m in lending commitments (to date in 2020) to SME developers across England. The product offered by Hilltop has a dual pronged approach which includes both debt and equity elements. The equity raise on one side assists the developer, meet much needed final stretch and on the other, opens up these exiting developments to investors who may wish to invest and be part of the growth story.  “We continue to have a growing pipeline with great sponsors. Case in point our newly increased £50m loan-on-loan facility from OakNorth Bank which is set play a huge role in supporting our ongoing development finance lending. We also provided funds for an eco-friendly residential development in North Devon as it combines high-quality construction and design, with green space, energy efficiency, and affordability – catering perfectly to today’s home buyers.” Hilltop’s management team includes former developers and finance experts, and together they have successfully originated and managed value-add and opportunistic residential deals through challenging market cycles. The fund is backed by the global real estate investment firm Round Hill Capital.

If it is the first time that you are buying a home, the process may seem increasingly tough. There are many things to keep in mind so that you can get the best. There are house and land packages that provide benefits for those buying a house for the first time. You will have more control concerning the design as well. You may save precious time because you will not have to begin by looking for land, then finding a builder, etc. Read on to find out why house and land packages may help you out. Convenient These packages are said to be convenient. Finding the best builder to build the perfect home can take much time. You will have to do a lot of research so that you can get the best. When you find someone, you may have to wait until they are available to do your work. This can be tiring. But, if you combine buying the land as well as the house, it will be fast and more effortless. Various websites offer different affordable home and land packages that you can use for sale. It is a challenge to get a genuine deal, whether online or in person. You can see our packages today at  North Harbour, which has excellent home and land packages that you can exploit to get a good deal.  Be sure to do your due diligence to get a reasonable profit margin when you sell your house. Please make sure you also check their payment options for convenience. Be sure to exercise your bargaining power to get a good compromise on the house. Can alter the design By getting the combined package, you will be able to influence certain design features so that it can be the best for you and your loved ones. This case is not present if you buy a present house. Certain changes can occur which will be perfect for your family as well as your lifestyle. It is possible to select floor plans as you want, for instance. Move-in soon By selecting the package, the house will be available to stay in when completed. It is the builder’s job to fulfill all customizable features which will be included in the package. Everything will be final and you can move in as soon as you wish. Planning options By getting an attractive house and land package, you will have increased control when it comes to planning. For instance, you will know for how much time you have to stay in the present home when will be the best time to get removers, the dates you will have to take time off work so that you can move into your new house. All these points help out buyers. Some people become involved in purchasing land, then having to wait till good builders are present to build the home. Time is required for this and if you do not have anywhere to stay, looking for temporary housing may be tough. Makes the loan procedure easier Buying the package makes the financing part easier as well. If you decide to purchase land and then hire a builder, there will be two financing requirements. One loan will be needed for the land and the other for building the home. If you get the house and land package, the procedure will be one only. The above are reasons why you should look for these packages such as the benefits of house and land packages at Mackay or where you stay. Overall the process of getting a home may become easier with them.

A new entrant to the sector has acquired a Devon hotel in a deal brokered by property consultancy Christie & Co. St Andrews Hotel in Exeter comprises 25 en-suite bedrooms. It is located a short walk away from the city centre, close to the quayside and the Marsh Barton Trading Estate in the Alphington district. The hotel has been owned by Vincent and Elaine Blackshaw for 13 years as part of a portfolio of three hotels in Exeter that also includes The Clock Tower and Georgian Lodge. They have made the decision to sell in order to retire from the industry. The sale of St Andrews Hotel follows that of the Clock Tower which was sold last year. “We are delighted to have purchased St Andrews Hotel and were initially attracted to the property because of its potential for someone to add value. Our intention is to create a new image for the hotel by comprehensively refurbishing and modernising, whilst improving the existing business. We look forward to becoming part of this wonderful community,” commented the new owners. The business has been purchased by Mohan Arora and Tarini Mendiratta, new entrants to the sector who met whilst studying at University of Exeter. “The St Andrews Hotel has always held its own, competing against the other largely corporate owned hotels that dominate Exeter’s bed stock,” said Stephen Champion, director at Christie & Co and also the person that handled the sale. “It is fantastic to see this hotel sell for continued use as a hotel to independent operators, who plan to build upon the already successful business created by Vincent and Elaine Blackshaw, who incidentally purchased the hotel via Christie & Co back in 2007. We wish Mohan and Tarini every success in the future.” St Andrews Hotel in Devon was sold off an asking price of £1.3 million.

As many baby boomers begin to  prepare themselves for retirement, one of the most common things they are now considering is seeking equity release advice to give themselves a nice retirement package. Now is quite comfortably the right time to strike, as, despite the housing market going into lockdown this year alongside the rest of the economy, over-65s saw their property wealth increase by more than £6,000 each on average in the past year. Indeed, the total property wealth owned by over-65s who have paid off mortgages is currently valued at a staggering £1.124 trillion according to Key’s Pensioner Property Equity Index. There are certainly regional considerations here, with many of the bigger gains coming in London (almost £26,000 better off over the last year) as opposed to the South East (gains of just £7,600). In the West Midlands, meanwhile, there was actually an average decrease of around £235 in value. Still, generally speaking, house prices are currently at an all-time high and with COVID and the fallout of a no-deal Brexit on the horizon, that could all change very soon indeed. So, is now the right time for baby boomers to start thinking seriously about equity release? It is, after all, the most logical way for older homeowners to not only pay off their debts but give themselves a nest egg that they can use to fund a truly decadent retirement. Will Hale, CEO at Key said: “The property market has suffered along with the rest of the economy during the coronavirus crisis and effectively shut down for months. Coupled with the ongoing political and economic uncertainty of the past few years, it has gone through a turbulent time.  However, property values seem to have remained relatively buoyant and with the current stamp duty exemption, we are likely to see continued interest from buyers.” There are quite literally millions of over-65s who have repaid their mortgages and are sitting on considerable unencumbered property wealth but might find that their retirement pots are not quite as heavy as they had hoped for. For these people, they might be inspired to learn that the estimated property equity in these homes is as high as £212.119 billion in the South East alone and a total of £1.124 trillion in the whole of Great Britain. In such an environment, Hale believes: “It is vital to get specialist advice and consider all assets when it comes to planning your finances through retirement as making smart choices can significantly improve your standard of living throughout later life.” The equity release market might have seen a slowdown as people take their time to decide how best to use their wealth in retirement and negotiate this terrible virus. However, the number of customers looking to explore their options remains high and equity release remains a decidedly flexible and lucrative option.