LONDON RENTAL & MANAGEMENT
Posted on October 21st, 2014 by admin
We are delighted that we have been able to demonstrate the strength of our rental and property management service to a range of clients.
Highlights include:
- Renting and managing an entire development in Holborn within a week of the development being completed with most rented prior to completion
- Renting an apartment for £4,000 pw in Knightsbridge and managing the property for the owner
- Renting a range of apartments in Bloomsbury. In each case tenants where found before the new owner took legal ownership of the property- achieved by working with the previous owner and lawyers. We manage the properties for the new owners
- Renting and managing a range of apartments in Canary Wharf, Mayfair, Deptford, Surrey Quays, Fitzrovia, Kings Cross and other areas of London, achieving rent in excess of the level previously achieved.
We provide:
- Highly experienced team and a personal approach
- Broad marketing of your property
- No hidden charges and payments from other parties
- We are fair but ultimately on the landlord’s side- giving you honest, pro-active and straightforward guidance
- Across London coverage allowing you to deal with one company for your entire portfolio
- 24 hours maintenance service to personally address issues as they arise.
We hope that we will be working with you soon.
Read MorePlan for new Canary Wharf curving tower
Posted on October 21st, 2014 by admin
Detailed plans have been submitted for one of the last remaining sites on the Canary Wharf estate.
A 28-storey office with a facade curving to a wider lower basement is being proposed for 1 Bank Street at Heron Quays West.
The 146m high building has been designed by KPF, with a view to signing up two major tenants for the new building.
Outline plans were approved by Tower Hamlets back in April for the site. The detailed plan contains an atrium giving the office design a wider skirt on the lower floors and roof terrace.
Adamson Associates, acting as executive Architect is leading a full consultant team, which includes Arup is structural engineer and Hilson Moran the mechanical engineer.
Canary Wharf Group is aiming to obtain a pre-let before construction starts and is reported to be in talks with French bank Societe Generale.
The Heron Quays West site was previously earmarked for a three building scheme, with the highest tower being 33 storeys.
This has been revised to two major buildings of a lower height.
A similar height office block is planned for the adjacent 10 Bank Street, on Heron Quays West. Enabling works have begun after it received full approval.
Read MoreBinnacle House, Wapping
Posted on October 12th, 2014 by admin
We are delighted to be able to offer a modern studio apartment in the Binnacle House, 21 Wapping Lane.
- Good buy-to-let investment or London base
- Fourth floor
- 344 sq ft
- Completed and available without any chain
- Balcony with views of Canary Wharf
- Luxury development with wide range of facilities and 24 hour security
Asking price: £369,000
More information is available at: http://www.zoopla.co.uk/for-sale/details/34813216
Click here to access the particulars: Particulars
Our list of properties being advertised on Zoopla is available at: http://www.zoopla.co.uk/for-sale/branch/property-inside-london-london-62224/
For further information please email
CHRISTIAN@PROPERTYINSIDELONDON.COM
or call
+ (44) 07443 939300
Read MoreResidential Market Update
Posted on October 1st, 2014 by admin
Source: Chestertons Research
Report Highlights
- Highest ever fall in August house asking prices
- July mortgage lending volume reached highest monthly level since August 2008
- Homes located 500 metres from a tube or rail station command a 10.5% premium
- The average loan-to-value ratio for London mortgages is 75%
The June price deceleration was reversed in July with annual house prices rising by 19.3% according to the Land Registry. This takes the average house price in the capital up to £457,072 which is almost double the South East average and just over 4.5 times the North
East figure.
Only two boroughs (Harrow: +9.3% and Hounslow: +9.4%) are now experiencing less than double digit annual price growth while 11 boroughs report growth in excess of 20% per annum. Waltham Forest (+29.3%) has overtaken Lambeth (+28.0%) as the borough
with the fastest rising house prices.
A study from Nationwide has analysed the impact of tube or train stations on house prices. A property located 1,000 metres from a station commands a 4.9% premium, whilst at 750 metres this increases to 7.6% and to 10.5% for a home 500 metres from a station. London houses closest to Circle line stations are the most expensive while those nearest the Metropolitan line are cheapest. Only 6% of properties in London are more than 1,500 metres away from a station.
Council of Mortgage Lenders data show that first-time buyer loans totalled 12,300 in Q2 in London – 4% up on the previous quarter,
and 17% up on Q2 2013. Home mover loans (9,000 in total) were also up – by 1% on Q1 and by 7% on Q2 2013. First-time buyers typically borrowed 3.9 times their gross income, more than the 3.83 recorded in the previous quarter and the UK average of 3.46. The average loan-to-value ratio in London remained at 75% compared to the national average of 80%.
The Mayor intends to create London’s first Long Term Infrastructure Investment Plan in order to ensure that the capital has the necessary infrastructure needed to cope with projected growth up to 2050. Total planned public infrastructure expenditure in the capital at the beginning of this year stood at £35.8 bn, of which £28.25 bn was allocated to transport projects.
Capital Gains Tax
Posted on October 1st, 2014 by admin
Capital Gains Tax (CGT)
Background
The Government consultation on the proposals to introduce a capital gains tax liability on non-resident owners of UK residential property closed in June and the Minutes from the working groups that were held during the consultation period were published on 31st July. Whilst the final rules and regulations have yet to appear (we are told they will be published in “early Autumn 2014”) the Minutes do provide some clarity with regard to the likely tax position for collective investment vehicles.
What is the current situation?
Currently, non-resident owners of UK residential property are not liable to capital gains tax in the UK.
What are the proposed changes?
The Government has confirmed that, with effect from April 2015, non-resident owners of UK residential property will be liable to capital gains tax in the UK upon disposal of their properties. The Government has stated that pension funds and other diversely owned collective investment funds are not intended to be brought within the scope of the extension of CGT to non-residents.
However, there appear to be definitional issues regarding the different types of collective investment schemes which are unresolved and the proposed solution is to introduce a “close company” test to limit the scope of the extension of CGT. This could become a fairly complex exercise in trying to establish precise ownership of these structures, including a grey area regarding the treatment of large listed property companies. One encouraging signal which has emerged is that the Government wishes to encourage institutional investment in the residential sector, so it could be assumed (although by no means guaranteed) that the final regulations will err on the generous side rather than being overly restrictive.
Various other issues were discussed, including the definition of “residential property”, notably whether student housing and disposals of undeveloped land, mixed-use buildings, buildings under construction and buildings being converted should be brought within the scope of the new tax. The other key issues of what reliefs should be available and whether properties should be re-based as at April 2015 with regard to assessing their CGT liability were also discussed but without conclusive outcome.
What are the potential implications for you?
In summary, this document has not taken us much further forward in terms of knowing what the final regulations will be. We hope that these will be published as soon as possible in order to give non-resident owners sufficient time to decide how they will react before the tax is introduced in April 2015.
Source: Chestertons Research team