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.

Bank of England holds rates at 5.25%

20 September 2023

The Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 5 to 4 to maintain the Bank Rate at 5.25%. Four of the members voted to increase the rate to 5.5%. The 12 month CPI inflation was 6.7% in August down from 7.9% in June.

Savills report on £5 million-plus residential sales in London

14 September 2023

Savills research reports that 240 properties worth more than £5 million were sold in the first half of 2023. Although this is 21% lower than the first half of 2022, the sales are 45% above the first-half average between 2017 and 2019. Savills research also indicates that prices in prime central London remain 18% below their peak in 2014.

Former builders’ yard in Romford with planning for 47 apartments and a commercial unit

South Street, Romford RM1 2AJ

Kingsbury Stone is offering a former builders’ yard on a site of 0.57 acres (0.23 hectares). Planning permission exists for 47 residential apartments totalling 36,694 sq ft and a commercial unit of 5,963 sq ft. There is an agreement to lease the commercial unit at £85,000 per annum for 10 years. The site is 0.4 miles from the town centre and Elizabeth and Crossrail stations at Romford. Offers are invited for the freehold.

Roof and airspace with planning for 2 flats in Deptford Bridge SE8

Deptford Bridge London SE8 4HH

Kingsbury Stone is offering a long leashold roof and airspace above a mixed used building. There is planning permission for two one-bedroom flats totalling 1,071 sq ft. The building is located 350ft from Deptford Bridge DLR station. Offers are invited in excess of £200,000.

Bank Rate increased to 5.25% in August

3 August 2023

In the August meeting of the Bank of England’s Monetary Policy Committee (MPC) the members voted by a majority of 6-3 to increase the Bank rate by 0.25% to 5.25%. Two members preferred to increase the rate by 0.5% to 5.5% and one preferred to leave the rate unchanged at 5%. Twelve month CPI fell from 8.7% in May to 7.9% in June.