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Essential news affecting the world of property

News

Housing Secretary announces plans to enable the delivery of 300,000 new homes by mid 2020s

16 December 2020

The Housing Secretary Robert Jenrick has announced measures to allow cities and their high streets to recover from the damage caused by the pandemic. The measures will enable the council to support the delivery of 300,000 homes, encouraging family homes while prioritising brownfield sites and urban areas.

ACME Minories office

News

City of London approves 60 Aldgate as part of the Minories Masterplan

16 December 2020

The City of London Planning & Transportation Committee has approved architect ACME's next phase of 4C Hotel's Minories Masterplan. The Masterplan includes a refurbished 342 bedroom hotel, a new 250,000 sq ft office building and 87 new homes, together with a landscaped park and urban squares.

Assael Architecture Colney Hatch Lane

News

Brownfield site in Colney Hatch Lane gains planning consent for 204 new homes

14 December 2020

Assael Architecture and Montreaux Developments have secured planning permission for 204 homes in two buildings hidden by woodland. The proposed development is located in Colney Hatch Lane, close to New Southgate station and represents 10% of Barnet borough's annual housebuilding target.

News

RICS October 2020 survey shows strength in the residential property market

12 November 2020

The RICS October 2020 survey of chartered surveyors who operate in the residential sales and letting markets shows increased buyer enquires, agreed sales, new instructions and prices.

News

Knight Frank survey points to increased investment in student accommodation, purpose built rented accommodation and senior living

5 November 2020

A Knight Frank survey of 40 leading investors with £62 billion invested in student accommodation, purpose built rented accommodation and senior living, expect to invest a further £10 billion in these sectors in 2021 and £42 billion over the next five years. This seems to indicate a diversification of investment covering all age groups. 70% of survey respondents expect these sectors to outperform others over the next 5 years.

News

Mayor confirms relocation of City Hall from Southwark to the Crystal building on the Royal Victoria Docks

3 November 2020

The Mayor of London, Sadiq Khan, announced the relocation of City Hall from its location at More London near London Bridge, to the GLA owned Crystal building on the Royal Victoria Docks. The move is expected to save £61m over the next 5 years and also act as a catalyst for the regeneration of the Royal Docks.

Stage Visitor Centre Curtain Playhouse

News

Planning Consent granted for The Stage Visitor Centre in Shoreditch

28 October 2020

Planning content has been granted for the Perkins & Wills designed Stage Visitor Centre in Shoreditch as part of a £750m mixed use scheme. The scheme showcases the recently excavated Elizabethan theatre, the Curtain Playhouse, and features a glass stage that floats above the archaeology find.

Kings Cross Bridge Pancras Square Coal Drop Yard

News

New pedestrian bridge at Kings Cross

26 October 2020

Camden Council has given planning consent for a new pedestrian bridge linking Pancras Square and Coal Drop Yard. The 25m bridge, designed by Moxon Architects and structural engineers Arup for KCCLP, takes inspiration from the lost railway bridges over the canal.

Welborne Garden Village Fareham

News

Knight Frank identify 5 UK hotspots for future growth

23 October 2020

Knight Frank have identified property hotspots in the UK with future growth potential. The hotspots are based on existing house prices, house price to earning ratio, housing shortages, and access to services. The resulting locations are Surrey Heath, Fareham and East Herts with either fast trains or proximity to London, Tameside with close proximity to Manchester and Chesterfield, the gateway to the Peak District.

Oxford Cambridge Arc

News

LSH report highlights opportunities in the Oxford-Cambridge Arc

23 October 2020

The Oxford-Cambridge Arc encompasses a concentration of knowledge intensive industries supported by world class universities. A Lambert Smith Hampton report identifies opportunities in the region in the post-COVID economic recovery. The National Infrastructure Commission has suggested that one million new homes could be created in the region by 2050; the report discusses how the opportunity should benefit local residents and the UK economy.

Corporation of London Mansion House London Recharged

News

City of London Corporation’s recommendations for London to retain its long term competitiveness

20 October 2020

The City of London Corporation, in partnership with Oliver Wyman and Arup have published London Recharged: Our Vision for London in 2025. Its recommendations include the need to create spaces to innovate, citing start up incubators such as Station F in France and Level 39 in London. Pilot transformation of London's office spaces to support new uses has been suggested together with the need for affordable work space for artists and SMEs.

Thames Barrier Royal Docks

News

Thames Barrier Park wins Green Flag award

20 October 2020

The Thames Barrier Park in the Royal Docks has won the Green Flag Award for the third year running. The award recognises well managed parks and green spaces.

Savills Branded Residences

News

Savills expects a resilient market for branded residences internationally

20 October 2020

Branded residences are those affiliated with a well known brand, usually hoteliers such as Ritz-Carlton and Four Seasons, but increasingly non-hotelier brands such as YOO, Baccarat, Missoni and Aston Martin. According to Savills research the branded residence sector has grown 170% over the last 10 years, achieving an average 31% premium over non-branded developments, however this varies substantially according to location.

Galliard Homes TCRW Soho

News

Galliard Homes creates new development moments from Tottenham Court Road station

24 September 2020

Galliard Homes are marketing a development located above the new Tottenham Court Road Crossrail entrance at Dean Street W1. The apartments are located in London's Soho, just off Oxford Street and feature private external spaces in the form of winter gardens, balconies and terraces.

News

Savills predict the rise of flexible offices

24 September 2020

Property agents Savills expect an increase in the need for flexible office space, with flexible office space replacing excess retail space on high streets and shopping centres. This could lead to an increase in demand for office space close to homes in rural and suburban areas.

audiology house sw12

News

Sensitive conversion of Audiology House in the SW12 conservation area

16 September 2020

Joseph Edmund developers have appointed RED Construction and architects Darling Associates to transform Audiology House to create 19 apartments. Audiology House is a Victorian Villa situated in a conservation area in Clapham, and was originally owned by the engineer George Jennings.

News

Londoners considering property outside the capital

3 September 2020

Savills confirm that London applicants viewing property in London in June and July this year have been 37% higher than in January and February. However this rises to 97% for London applicants looking for property outside of the capital. Savills' applicants for prime rental property increase by 60% by the end of July compared with the 12 weeks prior to lockdown. The same research also shows the desire for extra space such as a garden, and also an increase in 'try before you buy' tenants.

News

Mortgage approvals increase substantially but still below pre-Covid levels

1 September 2020

The Bank of England July 2020 Money and Credit report confirms that 66,300 mortgages for house purchases were approved in July, up from 39,900 in June. Approvals are still below the 73,700 reported in February 2020.

Palace of Westminster Temporary Parliament Foster+Partners

News

Foster + Partners propose Great Exhibition style temporary reusable Parliament building

25 August 2020

Norman Foster's architecture practice Foster + Partners has proposed plans for a temporary reusable building to house Parliament while the Palace of Westminster undergoes major restoration. The glass and steel building is inspired by the Crystal Palace built in Hyde Park to house the 1851 Great Exhibition.

News

Land Registry resumes publication of its House Price Index

19 August 2020

The Land Registry has resumed publication of its House Price Index, with the April 2020 data showing prices falling in London by 1.6% for the period March to April 2020, however confirms an annual rise of 2.3% to April 2020. The Nationwide House Price Index showed annual growth for the UK of 1.5% in July 2020, and a monthly rise of 1.7%, reversing the previous month's fall.

Thameside West E16

News

Planning approval for the creation of a new 5 million sq ft neighbourhood in West Silvertown E16

7 August 2020

Keystone London and GLA Land and Property are to gain outline consent for the redevelopment of the West Silvertown area of the Royal Docks. The scheme masterplanned by Foster and Partners will be know as Thameside West and includes 5,000 homes, 19,000 sq m of workspace, 7,000 sq m of leisure and retail, a new riverside park and a new DLR station.

News

Government to overhaul planning system protecting green spaces and allowing more building on brownfield sites

6 August 2020

The UK government announced its plans to overhaul the planning system, categorising land for growth, renewal or protection. The aim is to protect green spaces and speed up the delivery of new homes on brownfield sites. Good design is to be prioritised with a fast-track for 'beautiful buildings'. Section 106 agreements and the Community Infrastructure Levy will be replaced with a levy based on the value of the development. The government also announced the First Homes scheme offering 30% discount to first-time buyers, key workers and local people. Update 6 August 2020: Comment by CBRE.

305 Kingsland Road E8

News

Hackney Council approves flexible working and co-living development at Kingsland Road E8

29 July 2020

Hackney Council have approved the demolition of an existing building and construction of a 6/7 storey building comprising of flexible working space and co-living accommodation at 305a Kingsland Road E8. The developers are Pause and the scheme was designed by PH+ Architects.

News

Scheme approved to redevelop Dulwich Hamlet Football Stadium

27 July 2020

Southwark Council planning committee has approved an application to redevelop Dulwich Hamlet Football Stadium creating a new stadium and 219 residential dwellings. The application was submitted by Dulwich Hamlet Football Club and Meadow Residential and the scheme was designed by Alan Camp Architects.

News

Government proposes major changes to planning Use Class Order

21 July 2020

The UK government has announced changes to the Use Class Order that will come into effect from 1 September 2020. A new Class E (Commercial Business and Services), will replace the existing Classes A1, A2, A3, B1, D1 & D2, with some exclusions. There will also be new Classes F1 (Learning and Non-residential Institutions) and F2 (Local Community). The government's aim is to allow the high street to adapt to changing demands.

News

UK Government cuts Stamp Duty by reducing the threshold to £500,000

8 July 2020

In a 'Plan for Jobs' speech the Chancellor Rishi Sunak announced that the threshold for stamp duty was being raised from £125,000 to £500,000 resulting in no stamp duty being paid for transactions below that level. This is a temporary cut effective immediately and running to 31st March 2021. Update 7 August 2020: Savills predict increased demand where finance is not a barrier. 

south kensington station proposals

News

Plans submitted for South Kensington Station development

2 July 2020

Architects Roger Stirk Harbour + Partners have submitted plans, on behalf of Transport for London and Native Land, to overhaul South Kensington Station. The proposals, extending to 12,000m2, include a four storey building incorporating retail and workspace, with the surrounding land providing 50 additional homes.

wholesale food markets dagenham dock

News

Planning application submitted for historic wholesale food markets at Dagenham Dock

3 June 2020

The City of London Corporation has submitted a planning application to develop a 42 acre site at Dagenham Dock, the former site of Barking Reach power station. If successful, London's historic food markets, Smithfield, Billingsgate and New Spitalfields will move to the site in 2025, creating a world class wholesale food location.

News

Residential property transactions in April are at levels last observed during the 2008 global financial crisis

21 May 2020

HMRC estimates that UK residential property transactions in April 2020 were down by 53.4% over April last year, and 46.1% lower than March 2020. Non residential transactions were 45.2% lower than April 2019 and 22% lower than March 2019. Such low transaction levels were last evident during the 2008 global financial crisis. 

News

Housing secretary announces reopening of the housing market

13 May 2020

The government has announced that from 13th May 2020 house moves can how go ahead, subject to restrictions. Estate agents' offices and show homes can open and viewings can go ahead as long as guidelines are followed. To support safe housebuilding the government has allowed more flexible working hours. A charter for safe working practices has also been published, in conjunction with the House Builders Federation to ensure that works are carried out safely during the coronavirus epidemic.

News

The number of tall buildings in London increased by 140% in 2019

21 April 2019

A record 60 tall buildings were built in London in 2019, that is up 140% on the 2018 figure, according to the Annual Tall Buildings Survey published by New London Architecture and Knight Frank. 88% of the completed buildings are residential. Furthermore there are 525 buildings in pre-planning, planning and construction.

News

Barratt Developments furloughs 85% of its workforce in response to COVID 19

16 April 2020

In response to COVID-19 Barratt Developments, Britain's largest house builder, temporary closes all sales centres and construction sites and suspends all house buying activity.  Furthermore 85% of their staff are to be furloughed on full pay. Activities are to recommence when it is appropriate to do so.

News

Coronavirus Business Interruption Loan Scheme for loans up to £5m

24 March 2020

The UK government has announced the Coronavirus Business Interruption Loan Scheme, offering businesses loans of up to £5m to help survive the disruption caused as a result of the COVID-19 outbreak. The scheme is operated by the British Business Bank via accredited lenders.

News

Monetary Policy Committee cuts interest rates to record low of 0.1%

19 March 2020

The Bank of England's Monetary Policy Committee cut interest rates to a record low of 0.1% at a special meeting on the 19th of March. The aim of the cut is to help UK businesses and households cope with the economic disruption expected as a result of the measures necessary to contain the spread of the Covid-19 virus.

News

Bank of England reduces Bank Rate from 0.75% to 0.25%

10 March  2020

The Bank of England reduced the Bank Rate from 0.75% to 0.25% and launched a Term Funding Scheme to assist households and businesses to cope with the disruption associated with Covid-19. 

News

Housing Secretary outlines proposals to update the planning system to encourage building

12 March 2020

The UK government is to streamline the planning process to speed up the decision making process. Housing Secretary Robert Jenrick MP announced proposals to encourage building upwards, above stations and the housing-led redevelopment of high streets. The government will also launch a register or brownfield sites to encourage development.

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