Residential : House Builders & Developers News

PROPERTY INDUSTRY ‘MUST DO MORE’ TO IMPROVE PERCEPTION AMONG UK COMMUNITIES, NEW RESEARCH FINDS

New SCAPE research finds just one in five people believe developers will deliver on their commitments to improving local communities  Half of UK residents can’t think of a local construction project that has had a positive impact on their community  Insight features in new report on the evolution of social value by the UK’s leading public sector procurement authority  The property industry must do more

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Show Home Opens at Carterton Development

Show Home Opens at Carterton Development

A new show home has opened to the public at a luxury housing development in Carterton, West Oxfordshire. Linden Gardens, a sought-after residential scheme comprising 32 homes, is due for completion in summer 2021, with first completions in February 2021, and will feature two bed apartments, three and four bed

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Apartments Still Left at West Bridgford Development

Apartments Still Left at West Bridgford Development

Prospective buyers looking for luxury living in Nottingham should act now to secure apartments at the new gated ‘Bridgford Place’ complex, located a stone’s throw from West Bridgford’s Central Avenue, where the first buyers have started to move in. Comprising six one-bedroom apartments and 24 two-bedroom apartments, 75% of which were sold

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The Search for the Perfect New Home Ends

The Search for the Perfect New Home Ends

House hunters Colin and Barbara Edwards have ended their five-year search for a perfect property after finding their home-sweet-home at Cavanna Homes’ Barley Meadow development in Dawlish. The couple had been renting in Newton Abbot, close to their dental equipment business, whilst scouring the surrounding area for a home to

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Landwood Meeting Demand for Development Opportunities

Landwood Meeting Demand for Development Opportunities

Landwood Property Auctions are meeting surging demand for development opportunities – by continuing to stage weekly sales throughout August – when many of their rivals down tools. Summer months traditionally see most auction houses scale back or halt operations entirely. But, Landwood are doing the reverse and maintaining their timetable of

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Latest Issue
Issue 323 : Dec 2024

Residential : House Builders & Developers News

Fexco Property Services joins forces with industry leaders to push Unique Property Referencing

Open Letter from Residential Property Industry urges the use of the UPRN across the Sector Leading residential property bodies have today published an open letter to Robert Jenrick, Secretary of State for Housing, Communities and Local Government (MHCLG) and copied to Thalia Baldwin, Director of the Geospatial Commission highlighting the potential benefits from a widely adopted Unique Property Reference Number (UPRN) and steps that Government needs to take to make this happen. The signatories of the letter,  which includes leading bodies from across the residential property sector, believe that the wide market adoption of the UPRN will deliver substantial benefits to UK society, the residential property sector, and to Government. Andrew Bulmer, CEO of IRPM comments: “The UPRN is like attaching a number plate to a car, instead we attach a unique number (up to 12-digits) to all things related to properties (fittings, fixtures, paperwork, surveys etc), so that each property can be uniquely identified with unparalleled accuracy. If all the conditions outlined in the letter were to be met, we could proactively work towards the wholesale adoption of the UPRN. Implemented effectively, this could help position the UK as the world’s leading property market”. Dan Hughes, Founder of Alpha Property Insight and the Real Estate Data Foundation noted that; “The property sector is at the heart of the economy, people’s wellbeing and our impact on the environment. There are huge opportunities for technology to help with improving every aspect of this, but to do so requires the effective use of data. The wide adoption of the UPRN would be a big step towards providing the foundations to enable this.” Theresa Wallace, Founder of The Lettings Industry Council (TLIC), notes that “widespread adoption of UPRN’s could revolutionise the property market, this is a really exciting initiative which has industry support and we now need the Government to add theirs.” The letter details the benefits of widespread market adoption of the UPRN to society, the economy, and the property sector. These include: Improved building, consumer, and market safety More targeted and cost-effective enforcement of legislation Increased protection for tenants and a reduction of rogue landlords The ability to speed up conveyancing and transparency in home buying and selling The opportunity to reduce waste, save time and empower the consumer However, the letter also calls for steps by Government and for certain conditions to be met to really enable these benefits: All public sector data sets relating to properties and buildings should include the UPRN and a clear roadmap is needed to get to this point All future Government tenders and policy relating to residential properties and associated data should mandate the use of the UPRN There must be clear agreement about the ethical use of data in the housing market The UPRN must be in a clear and useable format that allows the UPRN to be widely identified, and freely used and shared This must include the tools, the support materials and the explanation needed by the whole sector for adoption, not just the solution providers Following the profound findings in the RoPA report, that outlines the phenomenal need for compliance within the property agents’ sector, Lord Best states that “the UPRN is an excellent concept and could be a game-changer.” The impact of the universal adoption of the UPRN can be immense, The National Trading Standards Estate and Letting Agents Team (NTSELAT) explain that, “the widespread use of a Unique Property Reference Number (UPRN) has the potential to deliver many benefits across the residential property market. Importantly, a UPRN can offer tenants a greater level of protection against rogue landlords and help to reduce consumer fraud when buying or renting a home. The NTS Estate and Letting Agency Team supports the work of The Letting Industry Council in driving the adoption of the URPN across the property sector”. A copy of the letter and a full list of signatories is available HERE

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PROPERTY INDUSTRY ‘MUST DO MORE’ TO IMPROVE PERCEPTION AMONG UK COMMUNITIES, NEW RESEARCH FINDS

New SCAPE research finds just one in five people believe developers will deliver on their commitments to improving local communities  Half of UK residents can’t think of a local construction project that has had a positive impact on their community  Insight features in new report on the evolution of social value by the UK’s leading public sector procurement authority  The property industry must do more to demonstrate the positive impact of construction projects on communities across the UK, according to new research by the UK’s leading public sector procurement authority, SCAPE.  In this latest nationwide research, SCAPE found that as few as one in five (20%) people in the UK believe that property developers will deliver against the commitments they make in relation to social value and improving local communities.  The research indicates that there is a clear disconnect between the wide-ranging initiatives employed by contractors nationwide to create social value and the general public’s awareness or perception of them. Only half (50%) of the 2,000 UK residents surveyed recognised that a project had contributed positively to their local community. Respondents indicated that delivering long-term community benefit was the most important outcome for any project, ahead of other issues such as a building’s appearance or its green credentials.  The research forms part of Social Value: More Than Metrics, a new report by SCAPE thatexplores the evolution of social value in the public sector and the impact that contractors and developers are having on local communities.  Despite widespread initiatives across the construction industry in relation to employment, sustainability and social cohesion, many members of the public are still unaware of how projects are being delivered in a way that enriches their community. Only a third (35%) of all respondents had heard of the term ‘social value’ and felt confident that they understand what it means.  With the public sector already acting as the cornerstone for the UK’s economic recovery – and set to play an increasingly important role in infrastructure investment as the nation builds back better in 2021 – the report calls for public sector organisations and contractors to aid the public’s understanding of social value.  Key recommendations in the report include:  Giving social value returns equal if not greater prominence than traditional procurement drivers, such as time, cost and quality   Incorporating qualitative feedback procedures, such as interviews with community stakeholders and focus groups, into measurement processes  Encouraging ongoing review of the metrics used to measure each project to avoid a ‘cookie cutter’ approach to social value  Standardising sustainability measurement to demonstrate benefits with greater ease and consistency  Implementing long-term community engagement processes to ensure positive legacies for every project.  Mark Robinson, group chief executive at SCAPE, said: “In the seven years since the Social Value Act was passed, the new duties required in procurement have played a valuable role in guiding public bodies and contractors to consider the wider impact of public investment on society. However, as we await the imminent launch of the government’s Construction Playbook – which will increase the focus on socioeconomic improvement – our research shows that work still needs to be done to improve public perception regarding the benefits being created through construction projects.  “Whilst the monetisation of social value is important, in many ways, the more important thing is the short and long-term value that one action can set in motion within a community, and how these actions are perceived and received. By shining a light on the public’s understanding and perception of social value, and demonstrating what best-in-class delivery looks like, it is our aim through this report to get to the heart of these issues and drive positive, sustainable change within communities.” 

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Show Home Opens at Carterton Development

Show Home Opens at Carterton Development

A new show home has opened to the public at a luxury housing development in Carterton, West Oxfordshire. Linden Gardens, a sought-after residential scheme comprising 32 homes, is due for completion in summer 2021, with first completions in February 2021, and will feature two bed apartments, three and four bed semi-detached homes and three, four and five bed detached homes, all of which will be finished to the finest quality with high spec fixtures and fittings, and landscaped gardens. Prices will range from £250,000 to £800,000 and the opening of the new show home will give prospective buyers a glimpse into the luxury development, with visitors welcome to view the show home by booking an appointment with selling agent Connells. To comply with current COVID-19 restrictions, measures will be in place to ensure the safety of visitors – including a health and safety questionnaire for all guests prior to viewing the show home and a limit on how many people may attend per household. For interested buyers who do not wish to visit the show home in person, a virtual video tour will be available upon request. Located just a mile south of Carterton town centre, Linden Gardens is set in a stunning location adjacent to both Kilkenny Lane Country Park and Kilkenny Lane allotments surrounded by a range of leisure facilities and local amenities. Neighbouring towns include Witney, Cheltenham, Burford and Swindon, with the city of Oxford and the Cotswolds situated less than 20 miles away. The development’s closest train station – Long Hanborough – is also ideally located 10 minutes from Oxford, 40 minutes from Reading and just one hour from London Paddington. Co-founder and chief executive officer of Taggart Homes, Michael Taggart, said: “We are extremely pleased to be opening the new show home to interested buyers, so they can really immerse themselves in this beautiful family development. “As with every property by Taggart Homes, Linden Gardens will be finished to the highest standards, featuring excellent workmanship and materials for the build, interior fixtures and landscaped gardens. The development is located in a prime position for families and commuters, with convenient road and rail links to nearby towns, cities and places of interest, including London and the Cotswolds. The development also benefits from proximity to the country park, with open fields beyond, making it a wonderfully peaceful place to live, nestled in West Oxfordshire. “We have taken great care to ensure that the show home is a COVID-safe environment, whilst still providing visitors with the chance to see all that the property and development has to offer. For anyone who is self-isolating or uncertain about visiting in person, we have ensured that video tours of the property are available.” Kerry Rees, Connells new homes sales advisor, said: “There has already been significant interest and excitement for this development, and we are pleased to be giving prospective homebuyers the opportunity to see inside the show home. One of the scheme’s biggest selling points is its location – tucked away in a peaceful setting, with plenty of amenities, fantastic schools and convenient connections to neighbouring cities nearby. “The development’s variety of properties makes it the ideal location for so many different buyers from first timers to city workers and families.

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Apartments Still Left at West Bridgford Development

Apartments Still Left at West Bridgford Development

Prospective buyers looking for luxury living in Nottingham should act now to secure apartments at the new gated ‘Bridgford Place’ complex, located a stone’s throw from West Bridgford’s Central Avenue, where the first buyers have started to move in. Comprising six one-bedroom apartments and 24 two-bedroom apartments, 75% of which were sold by selling agents FHP Living by practical completion of the development, this exclusive 30-home scheme, by Buildwell Developments, offers modern, luxury and eco-friendly living in a location second to none – in the very heart of West Bridgford town centre. Just seven two-bed apartments out of the 30 apartments are left to buy, each with a large open plan living space, en-suite shower room, family bathroom, zoned underfloor heating and allocated parking space, with prices ranging from £222,500 to £265,000. Constructed to a high architectural standard across four floors, works commenced on Bridgford Place back in 2019 and completed in 2020, and each home has been finished to a light, open-plan contemporary design with high spec fixtures and fittings including German kitchens, Bosch cooking appliances, quartz worktops, luxury bathrooms with Roca sanitaryware and Grohe showers, Karndean flooring and 80/20 wool twist carpets. Some of the properties boast balconies with views across West Bridgford and all top floor apartments have private terraces or balconies to enjoy all the benefits of al fresco living. Complete with beautifully landscaped communal gardens for residents to enjoy, lift access and gated parking, the complex incorporates environmentally-friendly features including thermally efficient materials, and infrastructure for future electrical charging points for residents’ cars. With Central Avenue on its doorstep, Bridgford Place benefits from an array of amenities easily accessible on foot, including parks, bars, restaurants and cafes such as Costa Coffee, Copper, Yumacha, The Botanist, Portello Lounge and Escabeche, and convenient supermarkets for essentials such as M & S and the Co-op. Just two miles from Nottingham city centre, regular bus services including the 5 Green Line run frequently from Rectory Road, through West Bridgford, Trent Bridge, The Meadows, Nottingham City Centre and the Lace Market. For avid sports fans, Trent Bridge Cricket Ground is a ten-minute walk away, and Nottingham Forest FC’s City Ground and Notts County Football Club on Meadow Lane are both a short stroll away. Steve Parker, director of FHP Living, said: “You just can’t beat this location and buyers will benefit from the stamp duty holiday that will run for the next four months. It’s not surprising we have seen homes selling so quickly at Bridgford Place. It is a prime development offering the finest quality central living and works for owner occupiers and investors alike. “Catering to a wide demographic of buyers, from first timers, to downsizers and those adding to their portfolios – the properties really offer a standard of living which is a cut above, from the modern spacious design and quality finishings, to the unrivalled views and close proximity to surrounding amenities in Central Avenue and the city. “Just a short walk away you have parks, shops, and plenty of eating and drinking venues – all without the hassle of having to take a car or public transport, it’s all on your doorstep.”

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Zuneth Sattar Looks at How Virtual House Hunting Has Been Boosted During the Pandemic

The coronavirus pandemic of 2020 has reshaped many areas of life as we know it. Necessary measures such as social distancing, quarantine and isolation have altered work and home lives for large swathes of the world population, as part of the measures put in place to try and slow the spread of the virus and protect the most vulnerable members of society. One area which has seen an unprecedented boost is in the use of virtual viewings for those looking at making changes in the property market. With so many restrictions in place in terms of travel and entering other people’s homes, those looking to buy or rent a new property are now turning to virtual tours to view those properties rather than a physical viewing. Zuneth Sattar of Xavier Investments Limited has a long-standing interest in the UK rental property market for investment and is continually adding new residences to his property portfolio. Sattar is one of many thousands of people now resorting to virtual tours to get an idea of what a property is like before committing to making a purchase. Virtual Viability Prior to the pandemic, it is likely that most people would prefer to physically visit and view a property before deciding to buy or rent it. However, things have changed. A recent survey conducted by Purplebricks found that a full third of 2,000 UK adults surveyed would be happy to judge a potential new property based on an online viewing, provided they were able to see the entire inside and outside of the property. One in six would go so far as to put an offer in to purchase a property if the virtual viewing showed them everything they needed. Changing Priorities The pandemic has also changed customer demand in terms of what people are now prioritising when looking to move home. Gardens are now seen not as a luxury, but as an essential, multi-functional space that can allow people to socialise even during times where stricter measures for social distancing have been put in place. Functionality in general is becoming more important, as ongoing temporary closures of businesses and restrictions mean that the home, and especially the garden, can often be the only place where people can safely meet family and friends. Increased Buyer Demand Zoopla statistics show that buyer demand in Wales increased by 41% just 24 hours after the housing market re-opened following lockdown. Across the UK, buyer demand has increased by as much as 46% compared to levels before lockdown, which given the wider economic landscape is a significant jump. Demand has also risen in the rental sector, with tenancy activity higher now than it has been at this point for the past two years. However, supply is down by around 15% across the sale and rental markets combined, which creates a sellers’ market and could see house prices and leases increase if nothing changes. Technology At present, virtual house viewings are only available to a limited section of the market as customers are required to own their own VR headsets to access the service. However, estate agents are already embracing the phenomenon, and some have started to offer loans of headsets to people looking at new build properties. Where complexes are under development with multiple identical homes becoming available, some realtors will allow customers to use headsets they have supplied to virtually view one or more of the properties, as this encourages people further down the buying pathway than a two-dimensional plan ever could.

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LEICESTERSHIRE’S “FINEST NEW RESIDENCES” ON SALE FOR MORE THAN £18M

A stunning selection of luxury homes near Market Bosworth, hailed as “Leicestershire’s finest new residences”, have officially gone on sale for more than £18m. The 19 bespoke homes are being built by four times “House Builder of the Year” Springbourne Homes at their exclusive ten acre Hornsey Rise site in Bosworth Road, Wellsborough. Now the award-winning developer has teamed up with the area’s premier estate agent, Alexanders, to sell the stylish, architect-designed properties. Alexanders’ senior partner Tom Smith said: “We are proud and excited to have been instructed by Springbourne Homes to market their fabulous Hornsey Rise site which, in our opinion, offers Leicestershire’s finest new residences and some of the most exceptional new homes in the Midlands. “This exclusive development is in the heart of the countryside, with panoramic views in all directions and even boasts its own private three acre woodland with walking trails for the sole use of residents. “All the properties sit on substantial plots and have been cleverly designed for modern day living and working, with fast, fibre optic broadband wired into all habitable rooms and with most of the houses offering a separate, home office option. “It all contributes to making Hornsey Rise a special development, one with so many benefits that it allows buyers the perfect opportunity to live, work and play in the comfort of an elegant, new home set in an idyllic location. “There’s no doubt about it – working from home has never looked so good.” Working remotely has certainly soared as a result of the current Covid-19 pandemic with many company offices across the UK being shut in a bid to stop the spread of the killer virus. Springbourne Homes chairman Adrian Burr believes many of those workers will never return to their office desks, but continue to work remotely instead and says his new homes have been designed to accommodate the change in working practices. He explained: “Some firms have already announced that they’re ready to allow an increasing number of staff to work remotely in future, which means there’s a growing amount of people now requiring a dedicated office space at home.  “At Hornsey Rise we’re offering just that. We’re delivering agile, flexible homes which provide the option to create a designated home office for work and/or for study.” Burr describes the desirable development as his “best-ever” site with his hi-tech homes replacing the former Hornsey Rise Care Home, which closed in 2012 and quickly became a target for arsonists and vandals. The Springbourne boss added: “Hornsey Rise is the jewel in the crown of the Springbourne portfolio and is without doubt the best-ever development in the company’s 26 history. “There has been keen interest already but we’re expecting a real surge of interest now that we have commissioned Alexanders to officially market this prestigious site. “It’s a premier development in the region so naturally we wanted the area’s premier estate agents to take it to market with us and we’re looking forward to welcoming our first buyers to Hornsey Rise in time for Christmas.” The new 3,4 and 5 bedroom homes range in price from £570,000 to £1,365,000 with completion anticipated between December 2020 and mid 2021. For more information on the Hornsey Rise development and Springbourne Homes visit: www.springbournehomes.co.uk For more information on Alexanders estate agents, visit: www.alexanders-estates.com

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London’s ‘green and pleasant’ multi-million-pound residences thrive

A room with a view, a front door onto the street, and a garden are proving more seductive for the wealthy than a James Bond-style bachelor pad in Chelsea. London’s high-end housing market is surprising estate agents who are reporting increased transactions for properties worth more than £5m. Estate agents Dexters marketing director Richard Page says: “Since the market re-opened we’ve had more than 9,000 viewing appointments across London per week and our website has never had so much traffic with 90,000 visits a week. “London is busy and people are getting on with their lives.” However, travel restrictions mean foreign investors are no longer driving the market. Demand for a pied-à- Terre in traditional super-prime hotspots such as Belgravia, Chelsea, Kensington, Marylebone, and Westminster have waned. Global estate agents Savills says central London prime properties are currently on sale for 21 percent less and sales activity is slow. Savills PR director Sue Laming says: “The prices are good value for non-sterling buyers and normally we would expect the market to pick up. Right now, these buyers are physically not in the market.” London’s green villages are on a roll Instead, rich domestic buyers and people from abroad who have already made London their home are the ones buying homes in the city’s desirable green districts. Finance brokers Hank Zarihs Associates chief executive Shiraz Khan says: “The rich no longer need a pad near their office in the City but a country style home within easy reach of the big smoke where they can work and relax.” Trendy green oases like Fulham, Islington, St John’s Wood, Notting Hill, and Dulwich are attracting intense interest from buyers who have up to £10m to spend. Property network LonRes research and data analysis head Marcus Dixon says: “A high proportion of moves are life-style ones whether it’s to move from a flat to a house or the countryside.” Estate agents Knight Frank’s head of residential research Tom Bill agrees saying the market for family houses in these areas has shown a month-on-month rise. “Family houses in these districts are doing very well. There’son top  strong momentum in the market.” Although he admits most of August and September’s exchanges were related to pre-lockdown sales. The pandemic has also led to longer times of up to six months for a sale to complete. The type of buyer has also changed with the home-grown purchaser outnumbering overseas ones. “We are seeing a higher proportion of domestic moves rather than international. This has meant that areas of central London with a high proportion of flats and little outside space, which were appealing to overseas buyers, are less busy than leafier areas with houses and green space,” says Dixon. He says that September has shown a 21 percent year-on-year increase on houses under offer but says this is skewed in favor of more expensive properties. “People aren’t buying small flats for investment. They are making long-term larger property decisions.” The capital’s resilience is partly due to the city’s good schools and universities which are commanding wealthy people’s loyalty. Page says: “I think London is still seen as a safe haven. There’s still demand here driven by access to a good education and cultural life. They tend to take a long-term view.” In fact, sales for properties worth more than £5m in September are showing a 29 percent year-on-year increase according to LonRes figures. The rich take a life-long view Bill agrees that the wealthy are in the fortunate position to be thinking 20 to 40 years ahead and are less restricted by banks tightening their lending criteria. “The high net worth prime buyers are less constrained by the mortgage market,” he says. “The ability to react and respond is something we’ve seen with the prime buyers.” But there’s trepidation about how the market will fare at the end of March when the stamp duty holiday on properties worth up to £500,000 ends. Although, stamp duty savings of £15,000 helps wealthy buyers it’s not a make or break issue for buying a high-end des res. But it is important for stimulating activity at the lower end of the market which enables the wealthy to free up assets and buy more high-end properties. “There will be a rush of activity then afterward there will be a slump and buyers will demand price drops,” says Dixon. On top of that, an extra 2 percent surcharge on stamp duty for overseas buyers will kick-in in April 2021. Bill adds that political uncertainty with Brexit, changes to capital gains tax, and higher stamp duty are likely to contribute to a more subdued market next Spring. The page is optimistic that the future for London, although a little tricky in the near-term, will be bright in the long run. “London goes through trials and tribulations, but it always comes through and it generally comes through stronger.

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The Search for the Perfect New Home Ends

The Search for the Perfect New Home Ends

House hunters Colin and Barbara Edwards have ended their five-year search for a perfect property after finding their home-sweet-home at Cavanna Homes’ Barley Meadow development in Dawlish. The couple had been renting in Newton Abbot, close to their dental equipment business, whilst scouring the surrounding area for a home to call their own. Having viewed and ruled-out a number of different homes, they finally spotted their dream home in the window of a local estate agent. Colin recalls; “When we saw the designs for the Rippon promoted in the estate agent’s window, I was slightly sceptical at first because it hadn’t yet been built and we couldn’t actually view the home, but Barbara was really keen to go and have a look. “We were able to view another Rippon–style property and when we spoke to the Sales Advisor, we discovered that the plot we were interested in was nicely tucked away, backing onto a private lane with a hedgerow, so we’d have plenty of privacy.” Colin and Barbara reserved their new home off-plan and managed to move-in in April, despite the Covid-19 lockdown. “Our moving day was quite different to what we had planned, but despite the government’s lockdown restrictions, we were able to hire a large van and moved ourselves into our new home at Barley Meadow in April”, explained Colin. “We didn’t have an official handover, but we met with the Sales Advisor, Sarah, who handed us the keys to our new home on the kerbside and had turned on all the lights for us in advance to make us feel welcome. “We’ve never lived in a new build home before and we’re really loving it here!  We have everything we need and from the front window we have stunning view over the fields – which is an added bonus. We got really lucky with this home! “There aren’t many homes at Barley Meadow, so it’s a lovely, quiet area and everyone has been really friendly. We’re just waiting for everyone else to move in now. “The location is ideal too. A lot of our family live in Dawlish so we’re closer to them, which was one of the main reasons for moving here. We’re only 10 minutes from the beach and there are nice walks close by as well as scenic cycle routes – so we’re very spoilt for choice. “Our commute to work is just 10-minutes and I’m often on the road travelling to clients, so it’s ideally placed for Torbay, Exeter and beyond. It ticks all the boxes!”, added Colin.  Sales Advisor Sarah Bowden, said: “It’s fantastic that Colin and Barbara were able to move home during lockdown and are now all settled into their new home at Barley Meadow and enjoying all that this stunning location has to offer. Colin and Barbara are a great addition to our new community here in Dawlish! “We have a brilliant selection of coastal homes at Barley Meadow. If anyone is interested in moving to Dawlish, please get in touch, and don’t forget about significant Stamp Duty savings and using Help to Buy if you’re looking to upgrade to a new home”.

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£5.4m Gosforth Regent Centre apartments set to complete ahead of schedule

Work on Kapex Construction largest contract win, the construction project is three months ahead of schedule and is due to complete in early 2021. Eldon House at Gosforth’s Regent Centre is undergoing a £5.37million transformation to redevelop the former vacant office building into 66 luxury apartments. Kapex Construction, part of Newcastle-based Morton Group, was appointed by Regent Centre owners Omnia Property Group to deliver its 2nd phase of its residential scheme, with Broadfield Project Management acting as client representative. Construction work started on the Eldon House development, which will create a mix of one- and two-bedroom apartments over 8 floors, in March. The extensive redevelopment project was originally due to complete in Spring 2021 but despite lockdown it is scheduled for completion in early 2021. Work on the scheme involves the complete removal of the existing façade, new cladding of the existing structure, along with thermal upgrades, a complete new MEP installation and internal fit out. It will be the second ‘office to residential’ conversion at the Regent Centre – the first being Northumbria House – and will be available to rent through Omnia Space. The area is known to be popular with students and employees based within the business park. Gary Morton, CEO of The Morton Group, said: “The conversion of Eldon House was one of our early tender wins, and we’re particularly pleased that despite lockdown it looks like we will be able to deliver this office to residential development three months ahead of schedule. “To be able to repay the trust our client showed in us in our early stages of growth as a company is really important to me, the level of dedication and approach to time, quality and cost is adopted from Senior Management Team right through to the Delivery Team on site. The results speak for themselves. “Our track record in converting concrete frame office blocks into sleek, high quality living spaces is second to none, and we have decades of expertise in this field. This allows us to draw on our experience gained through the conversion of Eagle Star House into Regents Plaza apartments just 300 metres away.” Dave Lovatt, Commercial Director at Kapex Construction, said: “It’s exciting to see the progress starting to take shape at Eldon House, which will breathe new life into the 1970s office building and provide much needed housing in a highly sought after residential location. “In the past, Eldon House has been home to tenants such as Rolls Royce so it’s exciting to prepare the building for a fresh wave of tenants who will benefit from the close proximity to Gosforth High Street and bus and Metro transport links into Newcastle. It will be a thriving space tailored to modern, active lifestyles.”

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Landwood Meeting Demand for Development Opportunities

Landwood Meeting Demand for Development Opportunities

Landwood Property Auctions are meeting surging demand for development opportunities – by continuing to stage weekly sales throughout August – when many of their rivals down tools. Summer months traditionally see most auction houses scale back or halt operations entirely. But, Landwood are doing the reverse and maintaining their timetable of industry-leading online-only sales every seven days as more and more customers seek to snap up land.  Recent auctions have shown how strong the demand for plots is with one in Stalybridge, Cheshire reaching 19 times its £5,000 guide price – selling for £95,000 after 298 bids. Similarly, a further plot of land in Stroud, Gloucestershire went for 3.5 times its estimate – selling for £325,000 following 150 bids. “In times of economic uncertainty like these, you often see increased demand for land as investors see it as a safe place for their money. And we’ve certainly been witnessing plots with residential development opportunities performing particularly strongly recently,” said Landwood Property Auctions Director Kate Lay. “That’s why, while others hang up their gavels over the summer, we’re continuing to hold our auctions on a weekly basis throughout August and into the rest of the year.” Recent highlights from the July 29 sale evidence this strong demand for properties with residential development potential. Two care homes in Cumbria were sold on behalf of Cumbria County Council for £406,000 and £244,000, compared with the guide prices of £100,000 and £125,000 respectively. There was strong interest in the lead up to the auction from residential developers, as well as from those in the care sector. Further recent successes include a commercial unit in High Wycombe, Bucks that went for 25% over the £1million guide price after failing to sell privately. Landwood’s pioneering tech-driven approach dispenses with a physical auctioneer – allowing more bids to be taken in a shorter space of time – maximising potential returns for sellers and giving buyers more opportunities to secure a property. It helped them sell £11million of property during lockdown. 

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