‘Lock up and leave’ properties in London are in increased demand, according to innovative developer be:here. This finding is backed by data from Statista that shows the average person increased its number of holidays abroad from 1.4 in 2016 to 1.7 in 2017. With London’s airports serving such a wide
Story Homes, the award-winning housebuilder, has revealed its ‘Home of the Year’, which is a house type that reflects current buying trends and insights. The chosen house type is the four-bedroom detached ‘Taunton’, which features across Story Homes’ developments in Cumbria, the North East and the North West. The reasons
Barratt Homes East Scotland have been recognised by the NHBC, the UK’s leading warranty and insurance provider for new homes, for its efforts to make Barratt Homes’ development across Edinburgh and the Lothians – Greenacres – the safest they can be. Greenacres’ site manager Colin Graham led his onsite team
A £717k investment to build homes for first-time buyers and affordable rent or shared ownership has been approved by the Sheffield City Region (SCR) Housing Investment Board. So far, £1.23 million in loans and grants has been approved by the SCR Housing Fund, which will see 98 new homes being
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
‘Lock up and leave’ properties in London are in increased demand, according to innovative developer be:here. This finding is backed by data from Statista that shows the average person increased its number of holidays abroad from 1.4 in 2016 to 1.7 in 2017. With London’s airports serving such a wide range of destinations, those travelling overseas for both work and pleasure are looking to ensure that their homes remain safe while empty. “Today’s housing schemes have to think carefully about the needs of their residents, particularly as the convenience of international travel means that our modern lifestyle often involves trips overseas, whether for business or pleasure. This is even more true for developments that are within reach of international airports, as easy travel abroad is often a key benefit for those living there,” said Hayley Wills, Area Manager at be:here Hayes. For those looking to prioritise security as a result of leaving their property empty regularly, the new purposely-designed Build to Rent development ‘The Gatefold Building’ from be:here and located in Hayes, 4 miles from Heathrow International Airport, presents a unique opportunity. The development is gated and provides an on-site concierge and management team. Knowing there’s always someone on hand to keep an eye on things is immensely reassuring, particularly in an urban environment as vast as London. Flight crew, for example, have to regularly leave their homes unoccupied whilst at work, so security is a particularly important issue. The lock up and leave benefits of Build to Rent accommodation apply equally to those who travel on business regularly. The benefits of living at the award-winning Gatefold Building include tenancies of up to three years in length, low deposits (just one month’s rent), pet-friendly homes, free super-fast 30 mbps broadband, regular social events and Habitat furnishings. Soon, tenants will also be able to take advantage of on-site Laundry Republic lockers, meaning that they can take care of their dry cleaning from home with ease. The prices for an apartment at The Gatefold Building start at £1,195 pcm for one bedroom and from £1,450 for two bedroom. In addition, every home comes with either a garden or a balcony.
Story Homes, the award-winning housebuilder, has revealed its ‘Home of the Year’, which is a house type that reflects current buying trends and insights. The chosen house type is the four-bedroom detached ‘Taunton’, which features across Story Homes’ developments in Cumbria, the North East and the North West. The reasons behind the property’s popularity with buyers include its external appearance and open, spacious layout. The ‘Taunton’ features four bedrooms, lounge with bay window, hallway with skylight, and open plan kitchen/dining area spanning the width of the house. Bi-fold doors lead to a paved patio and fully turfed rear garden. “All of the homes we design and build are carefully thought out and regularly reviewed to ensure that they are fit for purpose and meet the needs of today’s buyers, yet are still attractive and stylish in their look and feel,” said Andrew Hewson, Head of Group Design at Story Homes. The ‘Taunton’ measures nearly 1,600 sq ft, providing spacious accommodation that has been designed to offer flexibility for all families. By designing a property with four bedrooms, open plan kitchen/dining area rather than a formal dining room, and a traditional exterior appearance combined with contemporary interiors, Story Homes’ team of designers have ensured that this house type meets the requirements of a wide variety of buyers. Recent research from ZPG has shown that ease of maintenance is a key consideration among time-poor buyers, who cited this as the top advantage of new homes, while choosing your own colours and finishes was voted as the third main advantage. Aspects such as the turfed gardens and integrated kitchens in the ‘Taunton’ allow residents to move in without having to carry out any work, and options such as choosing the colour and finish of kitchen cupboards and worktops mean that the interior can be personalised upfront. “The ‘Taunton’ is a great example of how our experts have worked together to create a home that ticks all the boxes. It is consistently a best-seller across our developments and we have a number of ‘Taunton’ show homes, as we know that it is a house type that many people want to look around,” said Andrew. “We are delighted to announce our Home of the Year 2018 and we look forward to sharing ideas and images to show how the space can be used, interior inspiration and real examples of how our customers have made their ‘Taunton’ their own,” he concluded.
Barratt Homes East Scotland have been recognised by the NHBC, the UK’s leading warranty and insurance provider for new homes, for its efforts to make Barratt Homes’ development across Edinburgh and the Lothians – Greenacres – the safest they can be. Greenacres’ site manager Colin Graham led his onsite team to success after they underwent a trio of health and safety inspections over a four-month period, resulting in an NHBC Commended 2018 accolade – awards given to site managers who demonstrate the highest levels of health and safety in every aspect of their work on site. “We are incredibly proud of the achievements of all those working at our Greenacres development. Health and safety is our number one business priority and all the team work incredibly hard and we put a lot of time and effort into making our sites safe for our people and the wider public,” said Alison Condie, Managing Director at Barratt Developments East Scotland. “Our site teams are well trained in health and safety standards, but this award shows just how much we go over and above the call of duty. Our added value is evident in the time we spend sharing our health and safety initiatives with the communities in which we operate. People like Colin right across our business actively engage with local schools to teach children, in close proximity to our developments, about potential hazards on live construction sites,” she added. The NHBC Health and Safety Awards finals will be held at the ICC in Birmingham on the 6th of July. The event will see Colin compete for the Highly Commended Award and the overall National Award. Greenacres is located just off Greendykes road in the South East of the city and offers a selection of two, three and four bedroom houses along with desirable two bedroom apartments. A total of 158 homes will be made available over the coming three years.
A £717k investment to build homes for first-time buyers and affordable rent or shared ownership has been approved by the Sheffield City Region (SCR) Housing Investment Board. So far, £1.23 million in loans and grants has been approved by the SCR Housing Fund, which will see 98 new homes being built in the region. Twenty-five houses and apartments will be aimed at first-time buyers in Mexborough, and 35 affordable homes for rent and shared ownership in Darfield. A grant of £367k was approved in May by the Board for a 35-affordable home scheme to be built by the Together Housing Association at Nanny Marr Road in Darfield. Work is set start on site in September, with the homes ready to move into by December 2020. Meanwhile, the City Region’s Local Growth Funding is providing £350k to develop the Leach Lane, Mexborough site. Essential works include diverting mains drains, clearing undergrowth, and raising the ground level near the canal bank to avoid the risk of flooding. “I am delighted that we have secured funds from the City Region which will allow us to build much needed affordable homes in the village centre of Darfield and bring a derelict site back into use. We have worked closely with the City Region and are grateful they have been able to make a swift decision to ensure additional housing can be delivered,” said Hilary Brady, group head of development at Synergy Housing Solutions Ltd, a member of the Together Housing Group. These two schemes are a follow up of the first project to be approved under the City Region’s £10 million ‘fast track’ housing pilot in March. Work is already underway on site to build 38 affordable flats close to the Park Hill flats in Sheffield with support of £517k from the City Region. “We’re working to complement and plug the gaps in current national housing investment programme, unlock development opportunities and deliver much-needed new homes across the city region,” said Doncaster Mayor, Ros Jones. “One of the main barriers to development across the City Region is challenging site conditions, and both schemes will develop brownfield sites. Both will also be providing new employment and apprenticeships.”
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.