News

The spotlight turned on Energy performance this week!

We all do what we can to ensure that our properties are as efficient as they can be, however a well-performing property is now no longer a nice to have – come 2018 making sure your property is climbing up the EPC ranking is a legal requirement.

In just two years’ time – April 2018 – it will be illegal to rent out a property with an F or G Energy Performance Certificate rating under a new tenancy agreement.

By April 2020, the minimum requirement of an E or above rated property will apply to both new and existing lets, and by 2025 all rental properties will have to have a rating of D or above. By 2030, the government have set the target that all rental properties have to be at least a C energy efficiency rating.

It may seem that this two year warning will give landlords a bit of breathing space, but making sure your property is as efficient as possible should still be a matter of urgency.

So, what can you (or your tenants) do to help your property fit the bill and improve your EPC rating?

• Fit seals to external doors to help keep the chill out
• Fill gaps in floorboards and skirting with beading or sealant
• Fit a jacket around your hot water tank
• Ensure that lofts and wall cavities are insulated
• If replacing your boiler, switch to a high efficient, condensing boiler.
• Replace appliances with those that carry the Energy Saving Recommended logo.
• Fit double glazing whenever possible
• Use energy saving light bulbs

David Cameron will today announce that the government is to step in and directly commission thousands of new affordable homes.

Plans to build a new pedestrian and cycle bridge across the River Thames between Canary Wharf and Rotherhithe have taken a big step forward following the completion of a detailed feasibility study.

Designers reForm Architects has developed a unique structure that would boast the world’s largest span for an opening bascule bridge.

The plans have been developed with Elliott Wood engineers and cost management advice from Arup.

The 185m central span is supported by cables from angled masts at each side. These wishbone-like structures pivot to enable the bridge to lift at its centre to allow tall and large ships to pass.

RHB_Drawing_08_Rendered-Pier-Open
The masts also act as counterbalance weights, so that the bridge can open very efficiently requiring £10 of electricity to open.

Working with Sustrans, the design has been used to test the viability of a crossing at this location in consultation with Transport for London (TfL), London Underground, the Port of London Authority and the Canal & River Trust.

The proposed bridge has the potential to bring significant economic benefits to the communities on either side of the river and beyond, and will be a welcoming gateway for all those arriving into London by river.

It would be the first opening bridge to be built on the River Thames since Tower Bridge in 1894.

The East London design was revealed as another footbridge plan in West London moved ahead after the successful design team was named for the £40m project.

A team led by Dutch firm Bystrup with Robin Snell Architects has won the design competition for a new bridge in Nine Elms. Its design features a slender structure and spiralling ramps at both ends.

The Autumn Statement was released today by George Osborne. It is too early to understand the potential full impact of the changes but for investors it in likely that the changes in stamp duty will lead to a desire to purchase prior to April 2016 and there is a fear that demand and therefore prices will be affected thereafter. Many agents have commented that the previous changes in stamp duty have had a dramatic effect of the upper end of the property market

Help To Buy

• New ISA product will come into effect next month
• A new interest-free loan to supplement deposits for first-time London buyers who raise the first 5%.

Landlords and second-homes

From April 2016, an additional 3% will be added on to the Stamp Duty bill for buy-to-let or second-home purchases

New homes

An extra 400,000 homes will be built by 2020

Infrastructure boost

London will get an additional £11 billion budget to be spent on infrastructure including rail, Tube, roads and cycle routes, an enhanced superfast broadband network and extra support for museums and the arts.

Capital Gains Tax

CGT bills must be settled within 30 days rather than 21 months with effect from 2019

London’s mayor has given final approval to the second stage of the £200m redevelopment of Lord’s Cricket Ground.

Plans to redevelop the south-west side of the world-famous ground will see an increase in 1,082 seats, taking capacity up to 30,530.

The project will see the Tavern and Allen stand demolished to make way for a new three-tier stand of 5,200 seats.

As part of the phase two plan, the Thomas Lord Building will be redeveloped and extensive internal improvements carried out to the Pavilion, allowing more room for cricket teams and staff.

The Tavern pub will also be rebuilt inside the ground to create a more welcoming refreshment centre.

The improvements are designed to deliver an improved spectator view of the cricket and accessibility, keeping Lord’s at the forefront of hosting major international matches and tournaments.

Westminster council gave outline planning permission for the ground improvements last month and now the Mayor has given the seal of approval for what is the second phase of development at the home of cricket.

But the earliest that work will begin on the project will be autumn 2019, due to the need for Lord’s to be free of building works that summer for the ICC Cricket World Cup.

Derek Brewer, MCC Chief Executive, said: “A five-year consent was submitted because the Club awaits the England and Wales Cricket Board’s decision – expected in 2017 – on the programme of international matches for 2019-2022.

“Today’s announcement means the Club can conclude the legal procedures associated with the planning consent and look forward to making progress on these ambitious plans from Autumn 2019 onwards.”

BAM began demolition work on phase one, the redevelopment of the Warner Stand, in September this year.

BAM is due to complete the new stand (above) in time for the 2017 season. However the stand will be in use during the 2016 season, to allow Lord’s to operate at full seating capacity during major matches.

London Underground today confirmed that plans are in place to start construction work on the extension of the Metropolitan line to Watford late next year.

The project, previously known as the Croxley Rail Link, will support growth and regeneration in and around Watford by making journeys to and from London easier.

A full funding package for the extension has now been agreed between the Department for Transport, Hertfordshire County Council and Transport for London.

This sees TfL take control for delivering the previously stalled project from the county council. Taylor Woodrow, which had an existing design and build deal with the council, will continue to deliver detailed design and enabling works.

But London Underground is now expected to go out to tender for a main contractor early next year on the bulk of project.

A key part of the project will be a new 3km stretch of line that includes building 400m new viaduct to take take the line over the Watford Road dual carriageway and the Grand Union Canal.

It will then link to an 1.5km stretch of existing but disused branch line route which will see two new stations built at Cassiobridge and Watford Vicarage Road before linking into Watford junction.

Nick Brown, Managing Director of LU, said: “For 100 years, the Tube has been enabling growth in ‘Metro-land’ and this new part of the Underground network will support further rapid development in the area.

“By 2020 we will have built a 400m viaduct, two completely new stations and numerous new and reconstructed bridges along the route, transforming transport links in Watford.

“With the funding package complete we’re now turning all our attention to appointing contractors, finalising designs and beginning construction in 2016.”

Manny Lewis, Managing Director for Watford Borough Council, said: “The Metropolitan Line Extension to Watford is a key transformational project for the town.

“As well as providing significantly improved transport choices for local people, the project is absolutely critical to unlocking Watford’s future economic and regeneration potential.

“The extended Metropolitan Line will bring over £1.4bn of investment into the town, helping create thousands of jobs by supporting the delivery of major projects like the Watford Health Campus, Watford Business Park, Ascot Road and the redevelopment of Charter Place Shopping Centre.”