Investec, the asset management group, has announced it will offer a £43 million loan to the Labtech Group, a real estate development and investment business, to fund the development of a major 140,000 square foot (sq ft) mixed-use scheme in King’s Cross. Owned by Israeli billionaire Teddy Sagi, the business
A luxury development of townhouses and apartments in the West End of Glasgow has officially sold out. The Botanics, from David Wilson Homes, launched in 2015 and has proven hugely popular with househunters looking for modern and spacious accommodation in the heart of one of the city’s most prestigious areas.
Construction company Pave Aways handed over, between April 2017 and April 2018, projects worth more than £15 million to private schools, universities, colleges and local education authorities in England and Wales. During the previous financial year, the company worked on education schemes worth £12.6 million. Oswestry-based contractor carried out refurbishment
People are proud of having their own home. Whether it is a house or an apartment, they chose this type of residence and built their own home in it. The most important thing for having a good looking home is to regularly clean it. People know the importance of 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
Hartshead Square, a mixed use commercial development in Sheffield city centre, is being launched to the market by Greenridge Investment Management for a price tag of £41 million. The current passion rent from the 300,000 sq. ft. asset is just under £3 million per year. “With NCP recently secured on
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
DEVELOPER KMRE and contractor Hollycroft Construction have started work on-site for a multi-million-pound residential development in popular Kirkstall Road, Leeds. The high-end scheme of 111 apartments has now been sold to Aberdeen Standard Investments (ASI) for £17.25 million Kam Mogul, MD of Leeds-based KMRE Group, said: “This is popular area
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
According to a new research by the Federation of Master Builders (FMB), over half (57%) of Brits wrongly assume that millennials are useless when it comes to carrying out practical jobs around the home. “Society is wrong to assume that the technical know-how of your typical millennial begins and ends
Investec, the asset management group, has announced it will offer a £43 million loan to the Labtech Group, a real estate development and investment business, to fund the development of a major 140,000 square foot (sq ft) mixed-use scheme in King’s Cross. Owned by Israeli billionaire Teddy Sagi, the business has also arranged a £29 million loan with Bank HaPoalim, Israel’s largest bank. “We’ve been working hard to build strategic partnerships with like-minded lenders so that we can support our clients beyond the scope of our own balance sheet,” said Simon Brooks, co-head of origination at Investec. “We are glad that with the relationships we have built with other lenders such as Bank HaPoalim and Harel, we have been able to build on our capability and support our clients,” he continued. The development project is located on Camley Street, next to King’s Cross station, where Labtech is planning to develop 121 one, two and three bedroom luxury apartments and 29,000 sq ft of co-working space. The apartment will be let and operated by Sagi’s private rented sector (PRS) and co-working platforms. “This is a very exciting project for The LabTech Group, creating another valuable ecosystem for co-working, living and events,” said Chen Moravsky, president and CEO of The LabTech Group. “We are delighted to be working with Investec on this project and look forward to a long and beneficial relationship.” Work has already started on the scheme and it is expected to approach completion in 2020. Investec raised last month £195 million for the Cain International-led consortium the Stage Shoreditch to fund the development of a 550,000 sq ft mixed use scheme in Shoreditch.
A luxury development of townhouses and apartments in the West End of Glasgow has officially sold out. The Botanics, from David Wilson Homes, launched in 2015 and has proven hugely popular with househunters looking for modern and spacious accommodation in the heart of one of the city’s most prestigious areas. And while the development is fully sold out, potential buyers should not be disheartened with plans for a new development in the sought-after southside of the city. David Wilson Homes’ sister company, Barratt Homes, has recently started work on the Riverside @ Cathcart. Located on the grounds of the former Scottish Power headquarters, the development will feature a range of two, three and four bedroom homes. Estelle Sykes, Sales Director, David Wilson Homes said: “The sales success that we have experienced at The Botanics further reinforces the demand for high quality homes within Glasgow. “I am positive that the Barratt Homes development at Riverside @ Cathcart will prove just as popular with househunters because of its prime location and selection of quality homes.” The site, located on Spean Street, has an assortment of apartments, townhouses, semi-detached and detached homes and are likely to appeal to both first time buyers and those looking to take a step up the property ladder. Riverside @ Cathcart benefits is within walking distance of a number of amenities, including several parks, train stations, bars and restaurants . For further information on Riverside @ Cathcart please visit https://www.barratthomes.co.uk/new-homes/glasgow-city/H719201-Riverside-@-Cathcart/
Construction company Pave Aways handed over, between April 2017 and April 2018, projects worth more than £15 million to private schools, universities, colleges and local education authorities in England and Wales. During the previous financial year, the company worked on education schemes worth £12.6 million. Oswestry-based contractor carried out refurbishment work for schools in Dolgellau, Wales, for Gwynedd Council and extensions and refurbishments for Shropshire Council and Telford & Wrekin Council. It also finished four projects for Concord College near Shrewsbury including extra student accommodation, a new science block and dining hall extension, and the new Agritech Innovation Hub at Harper Adams University. “Our experience in this field has made us the informed choice for many organisations when it comes to major infrastructure projects as our team – from on site to back office staff – understand the issues and constraints of working on projects in this industry and offer the flexible approach to ensure that teaching facilities are maintained,” said managing director Steven Owen about the firm’s success in education. For the 2018-2019 financial year, the future looks promising, with the company already reaching more than £3.9 million on projects at Severndale Academy in Shrewsbury, work for Shropshire Council at Stoke on Tern, Long Mountain Primary and Shifnal Primary Schools, an extension and remodelling work for Tarporley C of E Primary in Cheshire and redevelopment of Castle Block, the former science building, at Concord College. “Since 2007, we have completed 19 projects worth £19.8 million at Concord College near Shrewsbury. We also have an historic relationship with Harper Adams University near Newport where we have completed 20 builds since 2006 worth £20.1 million,” said Steven. “We pride ourselves on creating long-term relationships with our clients by offering a local solution, combined with the highest standard of construction and exemplary after service.” Pave Aways carries out construction work across a range of sectors including industrial, healthcare, residential, retail and commercial.
People are proud of having their own home. Whether it is a house or an apartment, they chose this type of residence and built their own home in it. The most important thing for having a good looking home is to regularly clean it. People know the importance of the cleaning procedures, however, they sometimes fail to achieve the best they should and neglect simple cleaning tasks. What we are here for, is to give you some basic guidelines on how to achieve a perfectly clean home interior and we have some tips on improving the look of your interior as well. At the end, you will find some creative ideas which we will be glad if you consider and include in your home interior. Must-do Cleaning Routines This is the first, and most important step, of achieving a clean home environment. Before you start cleaning anything, you should at least have the idea from where to begin. The one thing, which can help you a lot for the cleaning procedures, is to put them in categories and make a list. Whatever the type of cleaning is, regular deep cleaning, or basic every-day cleaning routines, you should have a schedule and a checklist, which, with time, you will memorize and start doing without even noticing. Daily activities fall in our first category, as they are a must-do every day. They will help you maintain a good and clean home environment and will ease your deep cleaning procedures later on. These activities don’t require much time and as a habit, they are quick and easy to do: Make your bed, first thing in the morning; Wash dishes/run the dishwasher; make sure to include dishes from breakfast; Open windows to let fresh air in; Take care of clean and dry laundry; Put dirty clothes in the laundry; Take care of mail; Wipe kitchen surfaces and working areas; Find items, which don’t belong and put them in their rightful places, to avoid clutter. The second checklist you need to have is of your weekly cleaning tasks. They are also necessary if you want to avoid unpleasant surprises: Change bed linen; Dust furniture; Dust drapes and curtains; Remove cobwebs; Clean radiators; Change towels in bathroom (more often if needed, according to your needs); Vacuum carpets and/or mop floors; Clean taps, light switches, remote controls, handles; Take care of garbage (not necessarily in one day of the week as it can build up in only two days, therefore, take care of it when needed). If you want to make sure everything is done right, divide the different tasks in all days of the week. For example, make Mondays for removing cobwebs and dusting, Thursdays for vacuuming and so on. Remember that you should first dust the furniture/drapes and then vacuum, otherwise, it’s pointless. Monthly cleaning activities: Dust and clean light fixtures; Vacuum woodwork and vents; Clean mirrors and glass surfaces; Dust blinds; Run an empty cycle for the dishwasher and washing machine to clean them. The next checklist is for the cleaning activities, which must be done every three to six months: Launder pillows, blankets, comforters and furniture covers; Vacuum mattresses (you can sprinkle some baking soda and leave it for a few hours, before vacuuming); Clean kitchen appliances (oven, toaster, fridge, etc.), including under and behind; Clean furniture (behind and under bed, couch, etc.); Clean balcony/patio. What should you do once or twice every year is in the following list: Deep clean carpets and upholstery; Clear out gutters; Clean chimney and fireplace; Deep clean windows, mirrors, other glass surfaces. Cleaning Products and Tools The market offers a great variety of cleaning products and tools, but are they really worth it? The best decisions you can make advised by Cleaners London, when choosing cleaning tools and products are these: Substitute expensive cleaning products with homemade cleaner. Mix equal parts of vinegar and water and add up to twenty drops of any essential oil (preferably pine, tea tree or lavender essential oil, because they are known for their antibacterial powers). This homemade all-purpose cleaner is one of the greatest things you can use to clean, all-natural. It is suitable for different surfaces and the results are impressive. Use lemon to clean water stains; cucumber to clean stainless steel; ketchup to clean silver and copper; baking soda and vinegar to clean toilet; baking soda to get rid of unpleasant odours (including of shoes); banana to clean leather; cooled herb tea for cleaning wooden furniture and items. Switch to microfiber cloths. They are very handy to clean various types of surfaces, because they collect dirt and dust properly and are re-usable after lots of washing cycles. Forget about expensive and ridiculous cleaning tools. Just find yourself a good wide brush and pick a toothbrush and you will be doing miracles with them! Bonus Tips for Clean and Fresh Home Environment As we promised, here are our tips for achieving fresh look and atmosphere of your already cleaned home: Scented candles. The market offers a great variety of scented candles. From citrus and vanilla aromas to wood and ocean scents, you can choose to purchase whichever odour you prefer. Candles are almost necessary for every living room, at least. Putting them here and there on your home surfaces will not only bring the nice finished look of your interior, but will also add a sweet or calming scent to your evenings. Air fresheners. These could also be placed in every room, but they have another positive effect on another part of your interior. Placing air fresheners in your closet and/or in the drawers, will help keeping your clothes fresh. Cotton air fresheners are very good option, but you can also choose another scent, as they come in all forms, colours and aromas, just like scented candles. Avoid smoking in closed areas. It is hard to lay on your couch and resist the nicotine appetite when it hits you, but smoking in your home areas does not have a
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.
Hartshead Square, a mixed use commercial development in Sheffield city centre, is being launched to the market by Greenridge Investment Management for a price tag of £41 million. The current passion rent from the 300,000 sq. ft. asset is just under £3 million per year. “With NCP recently secured on a long-term lease, The Department of Work and Pensions openly stating that they wish to remain at the property and significant ongoing investment and development into Sheffield, this is an asset that still has huge potential for growth. An acquisition at this level, based on indicative debt terms, would produce an attractive cash on cash return in excess of 10% pa,” said Bik Bhuptani, Greenridge director. Advising Greenridge Investment Management is the Leeds office of Knight Frank. According to Rebecca Farnsworth, director of the Leeds office of Knight Frank, Hartshead Square is an attractive Sharia investment with a secure income in an exciting and evolving city to invest in. “Sheffield is experiencing unprecedented change with £1.3bn to be invested in the region. With major global companies such as McLaren and Boeing announcing new purpose built facilities in the region, Sheffield is being firmly placed on the radar of international investors,” said Rebecca. “The immediate vicinity of Hartshead Square is being upgraded with a number of redevelopments including residential, student residential, hotel and the creation of a tech hub, increasing the vibrancy and diversity of the area,” she added. Headquartered in London, Knight Frank has 411 offices in 59 countries and employing more than 14,000 members of staff. The team there builds long-term relationships, which allow them to provide personalised, clear and considered advice on all areas of property in all key markets. They believe personal interaction is a crucial part in ensuring that every client is matched to the property that suits their needs best, be it commercial or residential.
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.
DEVELOPER KMRE and contractor Hollycroft Construction have started work on-site for a multi-million-pound residential development in popular Kirkstall Road, Leeds. The high-end scheme of 111 apartments has now been sold to Aberdeen Standard Investments (ASI) for £17.25 million Kam Mogul, MD of Leeds-based KMRE Group, said: “This is popular area in the city and is in walking distance to the business district. KMRE saw a big opportunity and acted quickly to develop the scheme. These are stylish, yet affordable rental apartments which are ideally suited to professionals. “We are also delighted to have appointed Hollycroft Construction as the contractor for this significant development. Hollycroft has delivered a number of schemes for us and has continued to work on our ever-expanding portfolio of high-end schemes across the UK. “Kirkstall Road is a rapidly changing part of the city. Considering Kirkstall’s close proximity to Leeds city centre and the wide range of public transport options on offer, this is a popular area of Leeds. Each apartment is designed to be generously sized, to encourage long term tenancies in a great location with a range of amenities.” The residential scheme – which will complete in spring 2019 -will be made up of superior one, two and three-bedroom rental apartments close to Leeds city centre. “Considering the likelihood of significant investment in the area due to its convenient location, and high-speed poised to bring further investment, there was an excellent chance for investors to benefit from high levels of capital appreciation and ASI saw that opportunity,” Kam added. Ed Crockett, fund manager at Aberdeen Standard Investments, said: “This deal reinforces our long-standing commitment to the private rented sector in the UK, where we continue to target high quality stock in key cities. “The market is currently worth more than £1 trillion and is set to grow with an anticipated 24% increase in private renting by 2022. With its secure long-term rental streams, residential is a compelling opportunity for investors. But product is key. Our experience in Europe, shows that what really counts is being able to create communities that people want to live in for decades. We identified this development by KMRE as a major opportunity.” KMRE Group is a leading developer with schemes throughout Yorkshire and the UK. It is working on a number of schemes in the area including Mabgate Gateway, Leeds which is also on site and offers 92 one, two and three-bedroom apartments across two buildings and is located five minutes from the city centre. Toby Nicholson, head of build to rent at Colliers International, represented Aberdeen Standard Investments during the transaction. For more information, visit www.kmregroup.co.uk.
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.
According to a new research by the Federation of Master Builders (FMB), over half (57%) of Brits wrongly assume that millennials are useless when it comes to carrying out practical jobs around the home. “Society is wrong to assume that the technical know-how of your typical millennial begins and ends with their smartphone. Well over half of Brits think that those aged 18-34 fall short when it comes to carrying out hands-on tasks around the home. There’s a popular misconception that most young people rely on their parents to complete jobs around the house for them – either through a lack of interest or a lack of ability, or both. However, our research shows that millennials are handier than many give them credit for. Two thirds of young people have hung picture or photo frames on the wall and nearly as many have put together flat-pack furniture and painted something. It’s particularly impressive that half of all young people have been proactive enough to watch a DIY ‘how to’ online video rather than waiting for someone they know the show them or complete the task on their behalf,” said Brian Berry, Chief Executive of the FMB. The research shows that the top ten jobs completed by 18-34 year olds are: 70% have defrosted a freezer, 66% have hung picture or photo frames on a wall, 63% have put together flat-pack furniture, 58% have painted a wall or a piece of furniture, 57% have hung curtains, 49% have watched a DIY ‘how to’ video, 48% have sewn a button, 44% have bled a radiator, 43% have changed a fuse in a plug and 36% have put up a shelf. “Although we applaud young people for getting stuck in, it’s important that all generations know their limits when it comes to DIY and home improvements. It’s one thing bleeding a radiator and quite another attempting to knock down a wall or removing a structural beam. Our advice is to refrain from undertaking tasks that are better performed by a professional builder. If homeowners are looking to hire a builder, and aren’t able to extract a reliable recommendation from a family member or friend, they should use the FMB’s ‘Find a Builder’ service. All new members of the FMB are vetted and independently inspected before joining and so consumers can rest assured that they’ll be working with a professional and quality builder,” Berry concluded.
