An insightful new video from the timber industry’s campaign Wood for Good shines the spotlight on the growing Build to Rent sector and examines the unique nature of this market. According to the British Property Federation, there are now almost 120,000 Build to Rent units already built, under construction or
John Elliott, Managing Director of Millwood Designer Homes speaks about the rising demand for detached homes in the UK: Purchasing your first home is an exciting experience and now, more than ever, first time buyers aspire to own a detached home, over any other property type. In recent research, conducted
The first tenants of the ‘FitHome’ village in Dalmore, Alness, have been welcomed. The Saltire Award-winning concept that unites the priorities of healthcare, housing provision and tenant welfare was delivered by Albyn Housing Society, in partnership with Carbon Dynamic and NHS Highland. As a concept, the ‘FitHome’ aims to help
Nina Bressington decided to change the outside appearance of her property in Bristol, which had a red brick exterior like many ex-local authority houses. She chose an Andura coating due to its durability, the no maintenance required and the 20 year guarantee, as well as the professionalism of Andy Gazzard
Sustainable Building Services UK has been appointed by Rykneld Homes Limited, a housing management company, to deliver external wall insulation and related services to 169 REEMA properties in Grassmoor, Chesterfield. The work is being undertaken on behalf of North East Derbyshire District Council and it will be part-financed by the
Property development can be an incredibly profitable outlet for investors as it allows them to save money on real estate, make money from their work, build and diversify their property portfolios, and obtain easier finance on completion, which gives them better leverage for further investment plans. Property development is not
LCP’s latest LCPAca Residential Index found that new build sales are falling 13.8% in Prime Central London. Sales in Greater London have also slowed, with growth falling from 25% to 5.2%, resulting in a fall in market share to 15.6% from 20% a year ago. These concerning findings have now
Barratt Homes, an award winning housebuilder, will soon launch a new development in the popular town of Kirkintilloch. Braes of Yetts consists of three and four bedroom homes, with a mix of semi-detached and detached options that are suitable for both first-time buyers and homeowners looking to take their next
Following a strong first quarter, premier regional developer Mulberry Homes has continued its strategic expansion with nine current developments and several more launching soon, in prime locations cross Northamptonshire, Leicestershire, Buckinghamshire, Oxford, and recently branching into Bedfordshire, to meet local demand for quality new homes. Following the launch of six
The Scottish Property Federation (SPF) released a report at the end of Q1 2018 that shows that for every build-to-rent (BTR) home in Scotland, North West England has almost 10. Scotland currently has 3,365 BTR homes completed, under construction or in planning, while the North West has 29,600, the South
An insightful new video from the timber industry’s campaign Wood for Good shines the spotlight on the growing Build to Rent sector and examines the unique nature of this market. According to the British Property Federation, there are now almost 120,000 Build to Rent units already built, under construction or in planning across the UK; a 30% increase over the last year. Christiane Lellig, campaign director at Wood for Good said: “Build to Rent is becoming increasingly important in the UK housing market. We teamed up with Build to Rent consultancy LIV Consult and property consultancy Gardiner & Theobald to highlight the growing importance of this sector, to examine some of the opportunities and challenges of this market and also to show how the timber industry can play a central role.” Oliver Booth, partner at property consultancy Gardiner & Theobald, said: “The need for Build to Rent has never been more important. The bottom line is we have an availability of housing crisis in the UK and there are many brave organisations, corporations and institutions stepping up to try and fix that.” Build to Rent developers and investors are in the market for the long haul; choosing higher-end materials such as engineered timber, both within the building’s fabric and the fit and finish that will stand the test of time. Designing for efficiency and specifications that will last long term is a distinct separation from the traditional build for sale market, where cheaper materials and finishes are frequently specified to maximise profits for the developer. Commenting on the unique nature of the Build to Rent market, Ashley Perry, Build to Rent consultancy director at LIV Consult, said: “The Build to Rent market is unique because of its focus on resident experience and efficiency through design, operations and overall long-term use. “Designers and developers have to understand how efficiently the building can operate as that will drive long term income and capital growth for investors.” Highlighting the pivotal role the timber industry can play, Oliver Booth said: “A major benefit of engineered timber is that it’s fast to construct and that’s good for the Build to Rent model because we need to build quickly. “In addition, organisations want to use timber because it’s such a sustainable product. Those materials that are made and can be disposed of in a sustainable way and that contribute to people’s health and wellbeing, will have a competitive advantage over those that don’t.” Typically, Build to Rent schemes target young professionals, students and downsizers who buy into the lifestyle and convenience of well-built properties with a superior fit and finish, and are close to local amenities. To view the video click here. To find out more visit www.woodforgood.com
John Elliott, Managing Director of Millwood Designer Homes speaks about the rising demand for detached homes in the UK: Purchasing your first home is an exciting experience and now, more than ever, first time buyers aspire to own a detached home, over any other property type. In recent research, conducted by YouGov, almost a third (32%) of potential first-time homeowners aim for a detached house as their first property. As detached homes continue to increase in value throughout the UK, it’s easy to see why the popularity for these sought-after properties also continues to grow. Prices increases show detached homes to be a bright spot in the market and offer a sold investment. It is no surprise almost a third of savvy first timers desire a detached home, as buyers aim to move less and save more to achieve the home of their dreams — a detached family house with a garden. With many first-time buyers making savings on stamp duty, they are sensibly looking to future-proof their investment, with something that will suit long term needs and goals, in the form of a ‘forever’ home. At Millwood, we provide a mix of property types at all our developments to suit a wide-range of buyers and their individual circumstances. We’ve found that many of our buyers aspire to own a detached property for a number of important factors, including flexibility, a sense of privacy, comfort and freedom. This popular property type varies in size, however, the independence of a detached home creates an ideal living environment, for families to grow into or downsizers to settle. We offer Help to Buy on a selection of Millwood homes, helping first-time buyers secure more space for their money. For more information on our detached home visit wwww.millwooddesignerhomes.co.uk
The first tenants of the ‘FitHome’ village in Dalmore, Alness, have been welcomed. The Saltire Award-winning concept that unites the priorities of healthcare, housing provision and tenant welfare was delivered by Albyn Housing Society, in partnership with Carbon Dynamic and NHS Highland. As a concept, the ‘FitHome’ aims to help people live safe, well and independently in their communities for longer by using cutting edge data-gathering technology and Artificial Intelligence to help detect the onset of ill health and potentially even prevent episodes such as falls. New tenant, 19 year old Dylan Bogue who lives with muscular dystrophy said: “This will be a life-changing concept for some individuals, including me, and importantly their extended families. Nobody will have to worry about their elderly relatives, or younger relatives for that matter, being on their own if they fall or have an accident. Most importantly, residents can stay in their home, in the community that they have grown with for as long as they feel able to.” The project has received support and official endorsement from Highland MSP Maree Todd. At a recent parliamentary event she spoke of the project saying: “This project is an exemplary showcase of innovation coming out of the Highlands that demonstrates how cross-sectoral working in areas such as housing, health, care, construction, education and training can lead to pioneering new approaches that keep Scotland at the leading edge.” The project concepts have been supported by a Scottish Government housing grant, funding from the Inverness and Highland City–Region Deal and finance from Triodos Bank, Europes’s leading sustainable bank that only funds projects that create positive social, cultural or environmental value. “Scottish innovations are globally renowned and the FitHome is a gigantic leap forward in social care. At Triodos, we work to make sure that projects like this get the funding and financial support they need to have a positive impact on the local community. The FitHome is a game-changer when it comes to helping people live independent and inclusive lives,” said Graeme Galloway, Relationship Manager at Triodos Bank UK. The Data Lab – the Scottish Innovation Centre charged with generating economic, social and scientific value from big data – is also supporting the project by funding research into predicting falls, which is being led by Professor Susan Craw, an Artificial Intelligence expert at Robert Gordon University.
Nina Bressington decided to change the outside appearance of her property in Bristol, which had a red brick exterior like many ex-local authority houses. She chose an Andura coating due to its durability, the no maintenance required and the 20 year guarantee, as well as the professionalism of Andy Gazzard at Protective Wall Coatings, a Registered Andura Contractor, to carry out the work. “I had a friend who had a similar Andura coating done to their house which had lasted extremely well, compared with a neighbour’s house which had been just painted, and was already flaking after a couple of years,” said Nina. The property is a 1940’s three bedroom semi-detached house, located in a great residential area. Nina has modernised the interior and more recently added a conservatory to the rear, a front porch and a side extension. It was after these additions in March 2018 that Protective Wall Coatings were brought in and the whole job took just five days on site to complete. When Protective Wall Coatings came to look at the mortar joints and brick faces, there would have been a lot of repairs to do in re-mortaring and so the Andura process was to be a much more effective solution. There was some preparation and repair to be done to the outer surfaces and then the first stage was to apply the GRC base coat, a high performance, breathable polymer render (unlike sand and cement) which gives increased flexibility. As the mortar joints were deep, two coats of GRC were applied, the first a rough coat then a finer flatter coat. Once this base coat had cured, the top coat of Andura Trowel & Roll coating was applied. Protective Wall Coatings find that this coating gives a thicker application and then they use a nylon roller for downward texture ensuring that when it rains, the water runs off and the surface is self-cleaning. Andura’s Trowel & Roll coating gives an attractive textured appearance and has been specifically formulated for the protection and decoration of brick, cement renders and many other masonry surfaces. It provides a hard wearing, long lasting and beautiful finish to keep exterior walls in top condition. Andura Trowel & Roll coating comes in 16 standard colours, plus a colour matching service is available. It is a solvent-borne high performance acrylic coating conforming to Building Regulations. Andura is accredited to IS0 9001:2015 quality management standards.
Sustainable Building Services UK has been appointed by Rykneld Homes Limited, a housing management company, to deliver external wall insulation and related services to 169 REEMA properties in Grassmoor, Chesterfield. The work is being undertaken on behalf of North East Derbyshire District Council and it will be part-financed by the Energy Company Obligation. Valued at approximately £1 million, the work for the scheme will include surveys and repairs, followed by the fitting of an external wall insulation system designed and manufactured by PermaRock Products Limited, asbestos removal, replacement of roofline and rainwater goods, adaptations for central heating vents and windows, and the installation of new canopies over front doors. An important element of this project is the management of ECO funding. Rykneld Homes scored each contractor’s bid on the basis of quality and price and then decided that SBS proposal represented best value. “Judging by recent announcements, SBS has become the contractor of choice for major energy efficiency works in the Midlands and beyond. We are working with clients such as Nottingham City Homes and Broxtowe Borough Council, and we’re consistently achieving top scores on both price and quality. That’s especially important to us because, fundamentally, delivering best value is what we’re all about,” said SBS Commercial Director, Gary Lawson. Currently, SBS is working extensively across the Midlands and this latest contract award further consolidates the company’s presence in the region. In 2017, it was ranked first for quality on a four-year solid wall insulation framework managed by Efficiency East Midlands and in April 2018, Derby Homes Limited named SBS as its number one-ranked supplier for external wall insulation services under its 4-year Insulation Installations Framework. SBS has also recently delivered award-winning projects for Chesterfield Borough Council and Nottingham City Homes. Rykneld Homes manages properties on behalf of North East Derbyshire District Council. It manages 2,700 Council-owned, non-traditional stock, consisting of 16 construction types, and a further 1,800 non-traditional properties in private ownership.
Property development can be an incredibly profitable outlet for investors as it allows them to save money on real estate, make money from their work, build and diversify their property portfolios, and obtain easier finance on completion, which gives them better leverage for further investment plans. Property development is not rocket science, so you don’t need extensive knowledge or qualifications to get started. It does, however, require hard work, resolve and perseverance, and a positive attitude to the challenges and risks that buying and developing real estate entails. Property developing boils down to identifying opportunities at the right time in the property market, improving a property, and then profiting from your work by increasing its market value. For the majority of new investments, property development is focused on small to medium-sized residential projects. Key responsibilities include researching land and evaluating whether a project is viable in terms of delivering a potential profit. If you believe that a property has exciting potential for renovation, you can then move on to creating a property development plan. This is where industry-specific knowledge is required, as you will set out step-by-step outlines for the resources that you need, staff that must be employed, legal requirements and obligations adhered to, and other project specifics. Skills in project management are very useful at this stage. Remember to never brush over compliance as you will need permissions and permits before starting any development work. The final phase of a development project is centered on completing the actual work. You will have to liaise with construction managers, architects, investors and other expert third parties to ensure that everything runs smoothly and the project is completed on time and enables you to maximize your return on investment. The overall day-to-day running of a property development business is focused on research and management. Success stories There are scores of self-made property development and real estate magnates earning high salaries in this industry. Ali Seytanpir has used his expertise in the housing market in the UK to complete a range of successful projects. A selection of the world’s richest tycoons in the US, Asia and Europe, including Wang Jianlin, with a net worth of $28.7bn, also earn a large portion of their fortunes from real estate and development. Mitigating risks Risk management is a crucial aspect of property development. The first pitfalls that inexperienced investors often fail to consider are increases in interest rates and construction costs. When taking out a loan for your project, you should always consider the possibility that interest rates may increase during the development cycle, as work can take several years. You may want to opt against borrowing large sums at low interest rates as you could struggle to meet loan commitments in the long term. Construction costs are also prone to fluctuation. Those new to the industry often set construction expenses as part of their overall budget without thinking about how the project may change if these costs rise, which they are prone to on an annual basis in the construction industry. If you are caught out, you may have to borrow more or scrap the project entirely. To guard against this issue, always have a contingency plan and fund in place so that you can scale your development project up and down to cater to changing circumstances. Cyclical movement in the property market should also be a consideration as factors outside of your control can lower the value of your property or hike up holding costs. An understanding of boom and bust cycles will stand you in good stead and help you to time your projects to maximize returns. Also, factor in supply and demand and consumer confidence and any other social issues that may impact on your projects. Disputes with contractors, freelancers and other third parties can derail a project completely, so it is important that everyone involved knows where they stand from the start. Document every deal that you complete via a formal contract. Try to be diplomatic if any issues arise and attempt to resolve them quickly as delays can be disastrous for your budget and schedule. Be wary that local and state government can bring in new legislation that may scupper your current planning permissions, so always keep up to speed with law changes. What next? You can start preparing your first project by working out your budget. Think about the size of mortgage that you can sustain and how much money you want to sink into renovation. Get to grips with the housing market that you are targeting and begin negotiating with agents, visiting property auctions and browsing the net to find the right property. Accounts, lawyers, architects, engineers, finance and property strategists and project managers can all help you on your quest to support a successful property development career.
LCP’s latest LCPAca Residential Index found that new build sales are falling 13.8% in Prime Central London. Sales in Greater London have also slowed, with growth falling from 25% to 5.2%, resulting in a fall in market share to 15.6% from 20% a year ago. These concerning findings have now been verified by an analysis undertaken by LCP of new build data from the latest LOREMA report for 2017. In Inner London, new build starts fell by 25.4% in 2017, compared with 2016. The largest falls were recorded in Southwark, with 61.8%, and Tower Hamlets, with 43.3%. Applications increased by 4%, even though there were falls in seven of the 11 boroughs with the largest at just over 42% in both Wandsworth and Westminster. Moreover, planning permissions also fell by 7.4% and completions by 6.1%. “Findings from LCP’s April LCPAca Residential Index, LOREMA’S 2018 report and the ONS all show a troubling picture for the new build sector in London,” said Naomi Heaton, CEO of London Central Portfolio (LCP). She argued that these findings prove the construction sector is suffering its worst performance since 2012. Although the ‘Beast from the East’ contributed to its fall, the sector was in trouble even before that. According to the ONS, a large portion of the fall was due to a sharp 2.6% decline in January. The report shows that tower starts dropped from 46 in 2016 to 32 in 2017, resulting in units falling at 33%, from 8,200 to 5,500. The applications also fell at almost 10% from 74 to 67, with far fewer in Zone 1 than previously. Naomi stated that a downturn in international buyer sentiment contributed to the fall of the new build sector. “It is quite possible new build transactions will continue to decline, particularly in Inner London, given the 25.4% fall in new build starts reported by LOREMA. This situation could well worsen over the next two to three years, as schemes under construction which fail to sell off-plan come to completion.” “This may well impact developers’ desire to commence new build projects, resulting in a negative impact on the provision of new housing, one of the Government’s key aims. However, an increase in activity in Outer London may help mitigate this, particularly given the tower blocks being developed in the more peripheral areas of London, The fact that 30% of new tower starts are for the rental market compared with zero four years ago is also encouraging for the burgeoning generation of renters,” Naomi concluded.
Barratt Homes, an award winning housebuilder, will soon launch a new development in the popular town of Kirkintilloch. Braes of Yetts consists of three and four bedroom homes, with a mix of semi-detached and detached options that are suitable for both first-time buyers and homeowners looking to take their next step up the property ladder. “We’re already seeing substantial interest in Braes of Yetts, with Kirkintilloch a hugely popular area for people looking for a new home. We anticipate that the first release of homes will be snapped up quickly which is why we have set up a pre-register for interested buyers,” said Estelle Sykes, sales director, Barratt West Developments. “I would encourage those who are interested to get in touch so we can keep them informed about our sales launch and our show home opening. We can’t wait to bring our five-star homes to Kirkintilloch, and we’re confident this will be a truly special community,” Estelle continued. Braes of Yetts is located close to Kirkintilloch town centre and is also only ten minutes from the M80, providing easy links with Glasgow and beyond. The site is in a rural location but has the local amenities and transport links associated with urban life. Being on the border of the Merkland Nature Reserve, it also makes for a fantastic area to get some fresh air or spot the local wildlife. Barratt Group was awarded a maximum five star rating for the seventh consecutive year in the 2015 Home Builders Federation Customer Satisfaction Survey. Its site managers won 81 awards for quality workmanship in the 2015 NHBC Pride in the Job Awards and, in total, Barratt has won more Pride in the Job awards than any other housebuilder for the last eleven years.
Following a strong first quarter, premier regional developer Mulberry Homes has continued its strategic expansion with nine current developments and several more launching soon, in prime locations cross Northamptonshire, Leicestershire, Buckinghamshire, Oxford, and recently branching into Bedfordshire, to meet local demand for quality new homes. Following the launch of six new developments in 2017 and a positive start to 2018, the housebuilder is seeing strong footfall to its sites, with robust sales across its current portfolio from buyers across the region. Mulberry Homes, the residential arm of Mulberry Developments, originally formed in 2004, has quickly established a strong reputation for its design and delivery of striking new home developments in sought-after locations. To date, following the financial year end, Mulberry has built 130 homes in highly desirable premium locations including Bicester, Great Easton and Appleby Magna, with over 200 new homes in the pipeline for the current financial year. Renowned for its high-quality niche properties, Mulberry Homes builds a broad range of individually designed homes including traditional two storey spacious family homes, well designed starter homes and single storey bungalows commanding a strong brand reputation for themselves and their homes alike. The properties are sympathetically designed to suit all buying profiles, from downsizers, families, young professionals and first-time buyers. All homes combine a meticulous attention to detail, with a design-led approach, offering superb kerb appeal, and outstanding interior and exterior specification. Adding to its growing development portfolio, Mulberry is launched the exclusive Hursley Park development in Great Bowden this month. Recently crowned one of the best places to live in the Midlands and commended as the best address in the area by The Sunday Times, Great Bowden is a highly sought-after postcode less than a mile from the thriving town of Market Harborough, offering direct trains to London. This niche development will offer 50 new homes, situated within stunning landscaped gardens and 22 acres of country park. Work is well-underway on site and a number of plots have already been reserved. Providing an aspirational home for everyone, Mulberry currently has a range of properties available. Recently launched, Winchelsea Gate is set in the popular village of Weldon, Northamptonshire and has already proven extremely popular with buyers, with 50 per cent of phase one reserved. Stokes Rise in Great Easton is an exclusive development of exceptional four-bedroom family homes, designed to replicate the lasting character of the surrounding area. Meanwhile, a flourishing community is coming to life at Oakview in Appleby Magna, having sold to families and savvy commuters, benefitting from excellent road links. Known as the ‘Best Kept Village’ in Buckinghamshire, Hanslope is home to an Ofsted Outstanding Primary School and an exclusive new collection of just 12 three and four-bedroom homes. Now 75 per cent sold, the sales success of the development continues as St James’ Manor occupies the perfect family location, with top local amenities as well as great commuter links. Houghton Fields offers a stunning collection of family homes ranging from three to four-bedroom properties in Houghton Conquest, Bedfordshire. As Mulberry’s first Bedfordshire development, Houghton Fields is meeting demand as one of the few housebuilders to provide traditionally built new build bungalows. These properties have been snapped up by local buyers, with just one bungalow remaining. As one of Mulberry’s flagship developments, Harcourt Gardens offers a variety of 60 homes, ranging from one to four-bedroom properties. Located in Kibworth Harcourt in Leicestershire, this extremely popular and vibrant village offers its residents the best of both worlds with nearby open countryside, a fantastic choice of schools and top transport links into the city. Families will be perfectly suited to this prime location. Steeped in rich history Earls Barton, located nine miles from lively country town Northampton, is the home of Earls Place. Benefiting from Northampton’s frequent rail services into London, from Wellingborough this development is ideal for commuters who wish to move further from the city in order to get more for their money. The remaining four-bedroom homes are available to purchase with Help to Buy, meaning a deposit of less than £13,000.is this figure correct? Oak View is a luxury development that is well suited to all buyer types, with a range of homes including three, four and five-bedroom properties and easy access to the major Midland Cities, Birmingham, Coventry, Nottingham, Derby and Leicester. The thriving village location of Appleby Magna offers residents Ofsted ‘outstanding’ rated schools and day to day amenities within close range of the development. Meeting further demand for commuters, Stokes Rise is perfectly located to benefit from fast rail links to London St Pancras from neighbouring Market Harborough and Corby. Whilst easily connected to the capital, the homes are set within the picturesque village of Great Easton, known as one of the most attractive Welland Valley villages, living up to Mulberry’s promise of delivering homes in the best locations across their region. Finally, Stratton Park, an exclusive development featuring one to four-bedroom properties is down to the last remaining homes. These properties continue Mulberry’s outstanding quality specification throughout their open-plan designs. Perfectly designed to suit the needs of modern living, the local amenities include the popular designer shopping outlet, Bicester Village. City professionals from Birmingham or London can enjoy fast and easy access, with frequent services taking just 50 minutes into London. Ian Sadler Managing Director of Mulberry Homes, commented: “This year has got off to an exceptional start for Mulberry Homes with a record number of live sites and development launches including the eagerly anticipated new homes at Houghton Fields, our very first Bedfordshire development. Over the next year, we plan to continue to grow the business by seeking out the most desirable sites in prime residential locations across our heartland in Midlands as well as strengthening our regional presence and product offering throughout Bedfordshire and Buckinghamshire.” For more information on Mulberry Homes, please visit www.mulberryhomes.co.uk.
The Scottish Property Federation (SPF) released a report at the end of Q1 2018 that shows that for every build-to-rent (BTR) home in Scotland, North West England has almost 10. Scotland currently has 3,365 BTR homes completed, under construction or in planning, while the North West has 29,600, the South East (excluding London) has 7,701, the West Midlands has 6,378 and Yorkshire and The Humber has 5,131. The data also shows that this sector of the housing market has grown by 30% in the past year across all areas of the UK, Scotland included. In the UK there are now 117,893 BTR homes across all stages of the development lifecycle, compared to the total of 90,761 homes at the end of Q1 2017. Even though Scotland currently accounts for just under 3% of the total number of BTR homes, there are signs that this number is set to increase. “In Scotland, there has been a promising boost in the number of BTR homes, with 3,365 homes now at varying stages of the development process. The numbers are still not high in comparison to the rest of the UK, but there are now multiple sites in Glasgow which should act as a spur to other BTR projects across the country,” said David Melhuish, SPF Director. “BTR is an opportunity and Scotland has some important advantages for attracting the investment necessary – the Rental Income Guarantee Scheme being one and an exemption from the 3 per cent second homes tax for large-scale PRS investments is another. With planning policy guidance now amended to support BTR developments, particularly around the treatment of development viability, there is no reason why we cannot see the BTR sector provide a new catalyst of economic growth in our cities,” he added. The build-to-rent sector has grown significantly and it can now cater for a wide range of people, including families. Due to their high-quality construction work, they are becoming more and more popular around the UK.
