As reported by Lloyds Bank, new data suggested that almost half of those individuals looking to relocate home within the upcoming three years are actually planning to downsize. In fact, beyond being a coincidental factor, downsizing has actually been dubbed the most popular reason for people to choose to move
Recently, Gentoo Tolent, a leading northern construction firm has successfully been able to confirm a £2.5m contract to develop fifteen residential properties in the Alnwick area, as appointed by Lindisfarne Homes. The project effectively looks to convert a site presently used by the former Thomas Percy School, which has been
Despite industry woes with regard to housing shortages, it has been reported that, at the end of 2015, housebuilding reached an all new high at the finish of 2015. Ending the year on a very positive note, figures from the DCLG highlight that, over the course of the final 3
Most recently, Bruntwood has announced the appointment of CBRE and Knight Frank as the joint agency team for the City House redevelopment positioned above Leeds City Train Station. With Bruntwood’s investment into City House is underway, it is anticipated that the project will be completed by May, 2017, with the
As reported by Lloyds Bank, new data suggested that almost half of those individuals looking to relocate home within the upcoming three years are actually planning to downsize. In fact, beyond being a coincidental factor, downsizing has actually been dubbed the most popular reason for people to choose to move house as of present. Encouraged by the anticipated returns of moving to a smaller property, there has been a considerable surge in interest for such moves over the past few years. This, primarily can be attributed to the average windfall which individuals may be in receipt of should they relocate from a detached to semi-detached home. The average age cited for those looking to downsize sits at around the age of 53, where many of the homeowners had previously lived in their property for an extended period of 11-20 years. Of course, with people around this age beginning to consider their future and plans for upcoming retirement in many cases, relocation to a smaller, more cost-efficient property serves as one way for them to prepare as such. Moving to better suit changing circumstances was reported to be the number one reason for moving, followed by a want to reduce bills, free up equity and, as aforementioned, provide extra funds for retirement. This, of course, is further enhanced when considering the traditionally lower costs of heating and powering a smaller property in contrast to a larger, more spacious one. Of those downsizing, some 20% of people stated that they are moving far earlier than they had originally planned, with key reasons such as health, changing relationship status and the provision of amenities in certain geographic areas being key factors of concern. Additionally, geographic affordability also contributed, especially when taking into account the concept of requirement, where relative location for employment opportunities is no longer of prime concern. With almost three quarters of people expecting to make a profit from downsizing, the question begs as to whether property downsizing in the later stages of life will now become the norm for those looking to prepare for retirement, or invest in key financial products – a popular product naturally proving to be pensions.
Recently, Gentoo Tolent, a leading northern construction firm has successfully been able to confirm a £2.5m contract to develop fifteen residential properties in the Alnwick area, as appointed by Lindisfarne Homes. The project effectively looks to convert a site presently used by the former Thomas Percy School, which has been out-of-use for a number of years now, and develop it into a combination of 2 and 3 storey properties, each with 3 and 4 bedrooms. Of those to be developed, one of the properties is to be developed using brick, primarily to sit in line with the existing aesthetics of the Blakelaw Road area, whilst the other fourteen will be developed utilising stone as the primary building material. As the first property development contract in the area for Lindisfarne Homes, expectations and hopes are expectedly high, with the organisation greatly anticipating working alongside Gentoo Tolent over the period in a bid to deliver a range of quality, high-standard properties suitable for residential family usage. Gentoo Tolent’s Managing Director, Paul Webster, also made comment, stating the contract to be a victory for the company and a good signal for the success it hopes to achieve this year, then adding that, with regard to working with new client, Lindisfarne: “We’re delighted to be working with them on this scheme.” As the project manager for the project, Silverstone Building Consultancy has been appointed and, as such, the organisation will be helping to arrange the various aspects of the project and its delivery, with the goal of then finishing the project at some point in November this year. Having already engaged in multiple meetings with Lindisfarne to discuss the arrangement of the project, Silverstone Building Consultancy is firmly prepared and ready to deliver on the project, with a keen eye on ensuring it is completed in time, and within the allocated budget.
Despite industry woes with regard to housing shortages, it has been reported that, at the end of 2015, housebuilding reached an all new high at the finish of 2015. Ending the year on a very positive note, figures from the DCLG highlight that, over the course of the final 3 months of the year, the building of new homes reached the highest levels achieved since the high points in 2008, with approximately 37,230 homes completed and a further 37,080 started in last year’s final quarter. As an overarching figure, the twelve months up to the end of 2015 incorporated the beginning of some 143,560 housing starts, which signified a notable increase on 2014, approximately 6% and over twice the figure reported in 2009. At the same, the number of completions over the course of 2015 also increased by some 21%, reaching 142,890 in total. Of specific note, the counties of Leicestershire, Northamptonshire, Bedfordshire and Cambridgeshire were shown to perform very well in the housebuilding arena. In another report by the Home Builders Federation, it was also highlighted that more and more new homes were granted planning permission over the same quarter, with circa 59,845 homes in total giving the green light (a 12% increase from the previous year). These figures, combined with the number of new build projects being undertaken, highlight the hard work of developers in reducing the nation’s shortage of housing stock as well as the support of councils in opening up doors for them to do so. Brandon Lewis, Housing Minister highlighted the importance of promoting even more housebuilding around the UK, though it’s safe to say that these figures provide a great foundation from which the sector can build upon in the coming months, and years. With a highly ambitious plan in the works for the future of the housing sector, Brandon Lewis commented that they will be: “Doubling the housing budget so we can meet our ambition of delivering a million new homes.”
Most recently, Bruntwood has announced the appointment of CBRE and Knight Frank as the joint agency team for the City House redevelopment positioned above Leeds City Train Station. With Bruntwood’s investment into City House is underway, it is anticipated that the project will be completed by May, 2017, with the development providing a complete 119,210 sq ft of versatile space designed with modern enterprise in mind and full floors obtainable of 9,630 sq ft. The redevelopment itself is essential to the long-term regeneration of the gateway to Leeds and Bruntwood will continue to partner with Network Rail on the redevelopment of the train station in order that, sooner or later, City House might be linked to the station with direct entry onto the concourse itself. Craig Burrow, Director at Bruntwood, stated: “With work now underway at City House we were keen to secure a strong agency team who could work with us to communicate our vision to future occupiers. It is an incredibly exciting project and we are delighted to welcome our agents on board.” Alex Hailey, Associate Director of Office Agency for CBRE Leeds, explained: “Bruntwood’s wider vision for the future of workspace is being brought to life in one of the city’s most prominent buildings and we anticipate high levels of interest from a diverse occupier mix.” Eamon Fox, Partner at Knight Frank, mentioned: “City House is a once in a generation development in Leeds, and will become an exemplary working environment for our target occupiers. Our workplace is central to most of our lives; City House embraces the changing world of workplace and technology to deliver offices and workspace to meet the needs of business today and into the future.”
