Royal Albert Dock developers to move global HQ to London

Posted on September 16th, 2013 by admin

Mayor Boris Johnson has welcomed news that ABP, the Chinese developer transforming the Royal Albert Dock into a hub for Asian businesses, is to move its HQ to the capital.

In May the firm signed a £1bn contract with City Hall to create London’s third major business district which will service Asian and Chinese businesses seeking to do business with the UK and Europe.

The development will include more than 2.5 million square feet of office space, plus retail and leisure facilities and is expected to be ready for its first tenants in 2017.

Speaking at a London-Asia business forum at City Hall today, ABP Chairman Mr Xu Weiping announced the firm is bringing its own HQ to London, a move he said would help “grow the company globally”.

Mr Xu said: “London presents many fantastic opportunities and I believe this is just the beginning of an exciting period of investment and regeneration in the area.”

“We have many leading businesses from Asia here today and I will introduce the Mayor to many more when we welcome him to Beijing later next month.”

Welcoming news of the move, Mayor Johnson said: “It’s fantastic to see ABP voting with their feet and choosing to bring their global headquarters to London.

“A fantastic place to live and work, in the right time-zone to trade between east and west, with a highly skilled workforce and a concentration of first class business expertise, London has an enormous amount to offer businesses and brands from all over the world.”

The Mayor will next month lead a delegation of London firms to China as part of City Hall’s ongoing efforts to attract new investment to the capital and help London businesses increase their sales to overseas markets.

Property Inside London accessing the China market

Posted on September 10th, 2013 by admin

We are pleased to announce that Property Inside London is now able to advertise clients’ properties on Sina. Sina is viewed as the most popular and most respected internet brand among the Chinese community in mainland china. It is the largest simplified Chinese web portal, with more than 600 million registered users and 1.2 billion pages viewed daily.

Property Inside London has partnered so that it is able to advertise properties on the newly launched UK property portal. This portal was officially launched on the 1 July 2013 with the mission of creating the best UK property portal for the mainland Chinese people and Chinese communities around the world.

This addition to Property Inside London’s marketing strategy will help attract investors from China. It is a welcome addition to the marketing it can do for clients in England, the Middle East and to its existing database of investors.

If you are interested in appointing Property Inside London to sell your property, please contact Christian@propertyinsidelondon.com

Below Market Value Properties

Posted on September 2nd, 2013 by admin

We are delighted to announce that we have started offering our clients the opportunity to invest in properties below their market values.

These properties often have the benefit of coming with tenants renting under assured shorthold agreements and therefore providing immediate income. Many are also in London.

We are careful in selecting which opportunities we present to our clients. We also take great care in selecting the parties that we use to source opportunities to ensure that they have appropriate access to the vendors and are presenting reliable information.

The discounts range from 10% to over 40% depending on location, condition and the reason for the vendor looking to sell. By working with our clients we have been able to offer the vendors a speedy sales process in exchange for the discount.

If you are interested in looking at below market opportunities please contact us (Christian@propertyinsidelondon.com) informing us of your requirements.

New off-plan appointments

Posted on August 29th, 2013 by admin

We are delighted to announce that we have been appointed to help sell a range of off-plan apartments in London’s leading developments. Most of these are the sale of the contracts to buy the properties rather than direct from the developers.

For more information please contact the Property Inside London team at christian@propertyinsidelondon.com

The developments include:

The ArtHouse

– The first private residential development in the regeneration of Kings Cross. The development is on the edge of Regent’s Canal, surrounded by shops, museums and cultural buildings and perform for transport

– Due to complete October/ November 2013

– Both a one bed apartment and a three bed apartment

– One bed: 522 sq ft with car park priced space at £535,000

– Three bed: 1,107 sq ft with car park space at £1,175,000

The Arc

– A development set around a landscaped central courtyard just moments from fashionable Bermondsey Street, Shad Thames with its popular riverside cafes, bars and restaurants and Bermondsey/London Bridge underground stations

– Due to complete Q1 2015

– One and two bedroom apartments priced between £495,000 and £805,000

Avant Garde

– A sleek 25 storey aluminium and glass landmark tower with views across the City, a private residents gym and 24hr concierge and conveniently located at the edge of the City and at the heart of fashionable and artistic Shoreditch.

– Due to complete Q4 2013

– A range of studio units, 409-451 sq ft priced at £410,000- £435,000

– A two bed unit, 728 sq ft

Carlton Place, NW6

– A magnificently restored period building on the Maida Vale borders in a peaceful residential area but providing good access to Queen’s Park station and the local bars, cafes, restaurants and shops

– Due to complete in September 2014

– Two bedroom apartments, 580 sq ft priced at £370,000- £385,000

Cleveland Street, W1

– Remaining apartments in a development of four apartments

– Located near to Regents Park

– Due for completion in January 2014

– Range from 2 bedrooms to a 3/ 4 bedroom, 655 sq ft to 1,989 sq ft and £1.15m to £2.75m

Lexicon, City Road

– A new development close to the City, Shoreditch and London’s Tech City

– Due for completion in Q4 2014

– A range of 1-3 bedroom apartments priced from £585,000

Maddox St

– The last remaining apartment in this Mayfair development of seven apartments

– One bed apartment, 589 sq ft priced at £1.3m

Mulberry Mews, Islington N5

– A development in one of London’s best areas with a vast range of bars, restaurants, parks and cultural activities

– Due to complete in Q4 2013/ Q1 2014

– Two bedroom apartment, 726 sq ft priced at £615,000

Oxford Place, W1

– Two remaining apartments in this development of seven apartments

– Located in W1 convenient for Oxford Circus tube station, the University of Westminster, UCL and LSE

– Priced at £2.96m & £1.95m

Putney Square

– A new development in Putney, with its easy access to the River Thames and range of restaurants and shops

– Due to complete in June 2011

– Two bedroom, 746 sq ft priced at £620,000

Regent Canalside

– A development in the heart of Camden with its mix of culture, food, fashion and music

– Due to complete in Q4 2013

– One and two bedroom apartments, 504- 870 sq ft, £500,000- £950,000

Riverlight

– A development on the River Thames in the UK’s largest regeneration project which is located in Battersea

– Two bedroom apartment, 856 sq ft priced at £1,249,999

Wapping Lane

– A landmark building offering views across the River Thames and across the City and Canary Wharf, with the City within walking distance

– Due to complete in Q1/ Q2 2014

– A studio, 355 sq ft priced at £295,000

One Lambs Passage, EC1

– A high quality development in the City

– Two units available

– Priced at £895,000 and £920,000

Persimmon builds on improving sentiment with jump in profits

Posted on August 21st, 2013 by admin

AN IMPROVING housing market, a pick-up in mortgage availability and a rise in consumer demand have helped to boost Persimmon’s profits and margins in the first half.

Britain’s largest housebuilder by market value yesterday reported a

40 per cent jump in underlying pre-tax profits to £135.3m in the six months to 30 June, compared to the same period last year.

The York-based group completed more homes – up seven per cent to 5,022 from 4,712 last year – which helped to drive revenues up by 12 per cent to £899.9m.

The improved performance was also fuelled by a five per cent rise in its average selling price to £179,199, which it attributed to selling a greater number of larger and more expensive family homes.

Chief executive Jeff Fairburn said the government’s Help to Buy scheme had seen strong take up in the market, securing 1,700 reservations since its launch in April.

He said Persimmon was starting to build on new sites as quickly as possible to meet pent-up demand, and it expected to open a further 85 sites in the second half, after adding 90 in the first.

Its forward order book rose 21 per cent to £1.257bn, helping it to reach its target margin rate of 15-17 per cent 18 months ahead of plan.

Source: CityAM

Regional gulf as house lending hits 2008 level

Posted on August 21st, 2013 by admin

MORTGAGE lending in July leapt back to levels last seen five years ago, but some parts of the country are still yet to see any boost from the budding recovery to the housing market.

According to staggering figures released by the Council of Mortgage Lenders (CML) yesterday, gross mortgage lending rose to £16.6bn in July, the largest level since October 2008.

The amount of gross lending is up 29 per cent from the same month in 2012, and rose 12 per cent from June alone, following a deluge of evidence that an upswing in the property market is developing.

However, some parts of the country are still yet to see a boost from rising house prices or increased lending. According to research published today by LSL and Acadametrics Wales, Welsh house prices are still falling, down by £2,500, or 1.6 per cent in the last year, and losing £338 in value from May alone.

Property site Zoopla also reveals a similar regional gap today, finding that London homeowners were less likely to have to reduce the asking price when selling their homes.

Less than a quarter of London sellers have to reduce their asking price, while over 40 per cent of those in Barnsley, Wigan and Sunderland end up cutting their prices.

Ben Thompson of Legal & General’s Mortgage Club said: “At the moment it seems that the only way is up for the housing market”. He added: “It’s crucial that at every stage supply meets demand so that we have a balanced market that is not skewed and is accessible. The market needs to be sustainable and there is still a lot of work to be done to ensure that it is.”

Source: CityAM

Crossrail 2: London’s £12 billion north-to-south train link gets a step closer

Posted on August 21st, 2013 by admin

The drama of a new £12 billion north-to-south train link across London gets a step closer this week as public consultation over “Crossrail II” ends on Friday.

Backed by Mayor Boris Johnson, Transport for London (TfL) wants to build the line between Alexandra Palace in the north-east and Wimbledon in the south-west, passing through Islington, Piccadilly, Chelsea and Clapham. The entire journey would take just over 30 minutes.

A more ambitious option would see the line extended beyond the M25 into Hertfordshire and Surrey.

The Government has shown cautious approval for the scheme — which would boost demand for homes along the route — by committing £2 million to a feasibility study.

And consultation into the plan, which should ease congestion on the Victoria, Northern and Piccadilly Lines, has received broad support from local groups – although the proposal has sparked numerous extra demands.

Surrey County Council is demanding the line is extended to Shepperton, Epsom, Hampton Court and Chessington, in order to relieve desperately overcrowded commuter trains into London. Haringey Council is pressing for an extra station stop at Tottenham.

The plans for Crossrail 2 include a stop at Angel Station but Islington Council is backing a second local station, at Essex Road, currently served by overground services to the City. If approved the plan would give residents a direct link to the West End for the first time.

A report on the proposal will be presented to the mayor later this year, but due to the complexity of the project TfL says it is unlikely to agree a route until 2016.

New and improved train services can have a dramatic impact on local property prices. Crossrail 1, the east to west rail link due to open in 2018 will, it has been predicted, hike property prices around its stations in London.

Jones Lang LaSalle, the investment management firm, recently forecast property growth of up to 19 per cent (over and above general London growth) in new homes around Crossrail stations over the next five years.

As things stand, the Crossrail 2 proposals could have a similar impact on areas such as Alexandra Palace, Turnpike Lane, Seven Sisters and Tooting.

Admiralty Arch luxury hotel plans given the go-ahead

Posted on August 21st, 2013 by admin

Admiralty Arch will be turned into a luxury hotel, flats and a private members’ club after Westminster City Council gave plans the green light.

Prime Investors Capital have been given permission to convert the space into a 100-bedroom five-star hotel. The company leased the building in October last year for 99 years in a move that will raise £60million for the Treasury.

Francis Maude, minister for the Cabinet Office Francis Maude, said: “The plans approved today will breathe new life into Admiralty Arch, transforming it from unsuitable office space into a publicly accessible landmark that everyone can admire and enjoy.

“Historical and architecturally significant buildings like the Arch shouldn’t be sitting empty in the Government’s estate costing £900,000 a year to run. Instead we’re raising £60 million for the taxpayer and working closely on every aspect with Prime Investors Capital (PIC), Westminster City Council and English Heritage to restore it to its former glory.”

Robert Davis, Westminster City Council deputy leader, said: “Personally I am delighted that this building will now see high quality public use.”

The development will see £600,000 go towards affordable housing, well below the “policy compliant” sum of £1million.

Originally designed as a ceremonial passage from Trafalgar Square towards Buckingham Palace, Admiralty Arch is one of London’s most recognisable landmarks.

The plans will see the Grade I-listed building renovated in keeping with architect Sir Aston Webb’s original drawings from around 1910 with many lost designs restored.

Construction will begin early next year and the hotel is expected to open its doors to the public in 2016.

London house prices set to soar by six per cent

Posted on July 18th, 2013 by admin

London house prices are set to surge six per cent this year — adding £30,000 to the value of a £500,000 family home, a top estate agent said today.

The new projection comes on the day official figures showed mortgage lending at its highest level since the banking crisis, as buyers flood back into the market. Experts at Savills said they had ripped up their “premature” prediction of “flat” prices in central London after stamp duty rises in last year’s Budget failed to slow down growth.

But the move will reignite fears that thousands of young people are being priced off the property ladder. Lucian Cook, director of Savills’ residential research, said “a clear Bank of London effect” was keeping prices higher as foreign investors and British home-owners alike choose to tie up their money in London bricks and mortar.

He said: “At a global and UK level, London is viewed as a relatively safe place to own property and, once invested, buyers are reluctant to withdraw their equity.” Other factors have been a chronic shortage of supply, record low mortgage rates and easier access to loans following the Government’s Funding For Lending scheme.

Most agents had forecast flat prices or even small falls this year after Chancellor George Osborne put stamp duty of seven per cent on homes bought for more than £2 million, increasing to 15 per cent if bought through offshore companies. It was thought that this would deter foreign buyers, resulting in a cooling of the overall market.

But a July index from agents Knight Frank and researchers Markit, out tomorrow, will show confidence about future price rises at record levels in London households. Although Savills’ projections apply to top central homes, other property experts said much of the rest of London is experiencing similar growth with some of the hottest markets just outside the centre.

Michael Hodgson, chairman of agents Douglas & Gordon, said: “With falls unlikely, we have undercooked our prediction of an eight per cent increase in capital values in 2013. So egg on our face but not as much as some of our illustrious competitors.”

Barclay Macfarlane, head of agents Strutt & Parker in Fulham — where prices are up 13 per cent this year — said: “The threat of a mansion tax and the stamp duty rise at £2 million are two issues that seem to have subsided.”

Source: Evening Standard

A hot week in London… and it’s not over yet

Posted on July 18th, 2013 by admin

Working through London’s heat wave we have had a busy week so far.

Highlights include getting a client’s property under offer, making offers on four separate London opportunities for clients, being appointed on a number of London property searches, assisting on “Below Market Value” transactions and receiving a vast range of new off-market opportunities.

We currently have a number of enquiries for prime London properties for overseas buyers.

The Property Inside London team look forward to building on this momentum and delivering on its objective of helping those interested in property.

Enquiries: Christian@propertyinsidelondon.com

Uncategorized