A COMBINATION of apart-hotel rooms and student accommodation will make up a new development in Liverpool city centre.
Plans for three new buildings on a city centre site with frontages to Oldham Place, Benson Street and Back Renshaw Street have been given the thumbs up by the city council.
Councils, particularly those in London, are choosing to tackle a shortage of affordable social housing by investing in accommodation in other parts of the country. But what is life like for the tenants who are forced to live miles from home?
The public purse could save £14.5bn over 50 years if there were enough retirement housing to allow just one couple in every 50 older home owners to downsize into specialist accommodation.
Analysis from housing association Anchor and think tank the Strategic Society Centre says that older people living in inappropriate housing costs taxpayers £9,700 per person or £19,400 per couple over ten years in increased care and health costs.
Major amendments to the Finance Bill have been “slipped in” at committee stage.
According to the Law Society, they set a disturbing and undemocratic precedent of avoiding proper consultation and scrutiny.
The changes could result in property investors paying income tax rather than Capital Gains Tax on profits when they sell.
The number of mortgages being approved by banks and building societies fell by 5% in July from the month before, according to Bank of England figures.
The number of rental properties on letting agents’ books in the UK is at its highest level this year so far as demand for properties fell marginally in July, according to the latest research.
A HOUSING investment programme set up by Telford & Wrekin Council has completed its first development.
Pool View at Randlay has seen 31 new homes constructed by contractor Lovell on the edge of Telford town park. The scheme is already fully let.
Home owners undertaking DIY to improve their home may find it is a false economy with research suggesting that it is likely to be botched and end up costing the owner more.
Some 72% of home owners in the UK take on a DIY job to save money but more than a quarter, 27%, admitted they have botched the work and 34% left it unfinished, according to research from Halifax Home Insurance.
The study also found that among those jobs they were willing to do themselves, some 77% would be confident to tackle painting, 75% gardening, just under half would attempt to put up shelves and just under 40% would put up wallpaper.
A 39,000 sq ft warehouse investment near Wakefield has been snapped up for almost £2m.
The building at Featherstone’s Green Lane Industrial Estate is home to NHS supplier Healthcare at Home and has been sold to Bilfinger GVA client, warehousing business Onward Holdings.
BROAD GATE in Leeds is now fully let after a deal was struck for the remaining 10,814 sq ft of space.
LifeSearch, the life-insurance protection intermediary, is moving into the building on the Headrow from Capitol House on Bond Street.
LifeSearch has signed a 10-year lease, with a five-year break, paying £25 per sq ft in a deal brokered by the Leeds office of Knight Frank on behalf of owners Northwood Regional UK.
REGENERATION specialist St. Modwen has sold a new warehouse it speculatively built in Staffordshire in a deal worth more than £5m.
The Quinton-based property company has sold the logistics and distribution hub at Centurion Park in Tamworth to Limes Developments for £5,130,000, reflecting a net initial yield of 5.75%.
The appetite amongst people in the UK to own their home has risen steadily over the past four years but ownership levels have also been falling, new research shows.
Some 73% of non-home owners now say they would like to own their home compared to 69% last year, 68% in 2014 and 65% in 2013, according to the annual survey from the consumers group the HomeOwners Alliance.
But despite more people wanting to own the roof over their heads, home ownership levels have been declining for the past decade after peaking in 2002 at 69.7% and the report says this is because the high demand for homes is pushing house prices to unaffordable levels.
ONE St Peter’s Square in Manchester has been bought for £164m by global real estate investment company Deka Immobilien from joint venture Argent and The Greater Manchester Property Venture Fund.
The property at the heart Manchester’s historic business district was completed in September 2014 and totals about 288,000sq ft of Grade A office accommodation and retail space arranged across ground and 13 upper floors.
The Mayor of London has released the first details of his plans to set up what he describes as a powerful Homes for Londoners team at City Hall to oversee home building in the capital and boost the delivery of new and affordable homes.
As a first step Sadiq Khan has begun recruiting new experts to scrutinise 'viability assessments', the financial details that lie behind how much affordable housing new developments include.
The experts, who will be drawn from finance surveyors and property consultant experts and be based at City Hall, will support housing delivery by making planning decisions faster and more consistent, and by ensuring new developments include the maximum amount of affordable housing.
DEALS in Manchester’s office investment market totalled £304m in the first six months of 2016, marking an 8% increase on the £282m seen in the same period last year.
They are also 3% higher than the five year first-half average of £295m, according to international real estate adviser Savills.
The firm’s latest Spotlight: Manchester Office Market Report states that the city was a key focus for investors in 2015, with office transaction volumes totalling £640m compared to a 10-year average of £428m.
MULTI-let office building in central Manchester has been sold to property investment company Palace Capital for £10.6m.
Boulton House on Chorlton Street has 75,000sq ft of space. The vendor is F&C Reit Asset Mmanagement which bought the building in 2011.
Nabarro advised AIM-listed Palace Capital, which has secured a new debt facility of £6m from Santander.
AGENTS have been appointed to a 70,000 sq ft business park, the largest out-of-town office space to come to the market in Sheffield in 2016.
The Yorkshire office of Knight Frank has been appointed jointly with Campbell & Co to let or sell Meadowhall Business Park, close to Meadowhall Shopping Centre.
THE NHS has been ordered to pay rent on the remainder of a lease at offices it has not occupied since 2013 in what is being called a "landmark" ruling.
A High Court ruling by Leeds District Registry found that partitions installed by the tenant had prevented vacant possession.
A property is given vacant possession if it is empty of moveable objects and people, and there are no others that have the right of ability to occupy it.
London agency Benham & Reeves Residential Lettings says student rents have risen by 55.5 per cent over the past 20 years, compared to 24 per cent for non-student properties.
The firm undertook a survey of its offices and their respective student properties and tenants; over the course of two decades, the average monthly spend on rent has increased while the number of sharers has markedly decreased.
Rents in the UK’s private rental sector increased by 2.4% in the 12 months to July 2016, unchanged compared with the year to June 2016, according to the latest index data.
The figures from the Office of National Statistics (ONS) shows that rental prices grew by 2.6% in England, 0.2% in Scotland and were unchanged in Wales.
Rental prices increased in all the English regions over the year to July 2016, with rental prices increasing the most in the South East at 3.5%, up from 3.4% in June 2016, followed by the East of England at 3.1% and London at 3%, both unchanged from June 2016. Annual rental growth in the South East has surpassed that of London since May 2016.
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