for – Property & Development Magazine https://www.padmagazine.co.uk News & Reviews for the Residential Property Sector Fri, 23 Feb 2024 08:24:16 +0000 en-GB hourly 1 https://www.padmagazine.co.uk/wp-content/uploads/2023/11/favicon-pad-150x150.jpg for – Property & Development Magazine https://www.padmagazine.co.uk 32 32 Design for Springstead Village in Cambridge wins national landscape planning award https://www.padmagazine.co.uk/press-releases/design-for-springstead-village-in-cambridge-wins-national-landscape-planning-award/ https://www.padmagazine.co.uk/press-releases/design-for-springstead-village-in-cambridge-wins-national-landscape-planning-award/#respond Fri, 23 Feb 2024 08:24:14 +0000 https://www.padmagazine.co.uk/?p=22888 The design code which underpins the new Springstead Village development in Cherry Hinton has won a prestigious national…]]>

The design code which underpins the new Springstead Village development in Cherry Hinton has won a prestigious national award.  

The plans for the flagship project – which is a collaboration between housebuilder Bellway and Latimer, the development arm of affordable homes provider Clarion Housing – won the Excellence in Landscape Planning and Assessment category at the Landscape Institute Awards 2023.

The Cherry Hinton North Design Code was co-created by urban designer and landscape architects McGregor Coxall and architects Pollard Thomas Edwards, who were commissioned by the Bellway Latimer joint venture.

Springstead Village is a project which will deliver 1,200 new homes on a 138-acre plot that was previously part of the Cambridge Airport site. The plans for the development include new schools, a local centre, recreation areas, allotments and public open spaces.

Ulrich van Eck, Project Director for the Bellway Latimer joint venture, said: “It is great that the design code for the development we are building at Springstead Village has won this coveted national award. We must congratulate the teams at McGregor Coxall and Pollard Thomas Edwards for their sterling work.

“The design code will ensure that Springstead Village will develop a strong sense of place with the provision of a market square of shops, community buildings and spaces for play and exercise near every home. The development will bring homes together in small neighbourhoods, each with its own individual character.

“The scheme features slow-speed tree-lined streets and a network of cycleways and footpaths to encourage residents to leave their cars at home. The landscape-first approach incorporates principles of biodiversity and sustainable land use through the provision of green spaces, wildlife protection areas and the preservation of existing natural habitats on site. 

“We take comfort from the fact that the dedication and hard work by so many, resulting in this impressive document, has been recognised by the judges. This further underpins the commitment of the joint venture to its future and current community. 

“In addition, it validates the unanimous approval received from the Joint Development Control Committee for Greater Cambridge Shared Planning Service. The latter being very closely involved in the development of the design code and whom also deserves a lot of credit” 

The award was presented at a ceremony at The Brewery in London.

The Landscape Institute Awards celebrate the contribution of landscape designers, managers, planners, researchers and local authorities towards the creation of environments which bring benefits to people and the planet. In 2023, the awards attracted 150 entries across 17 different categories.

Judges in the Excellence in Landscape Planning and Assessment category were looking for designers to demonstrate a clearly defined strategy providing a sustainable concept which makes the most of available resources and space, maximises its impact on human health and wellbeing and brings benefits in biodiversity.

Michael Cowdy, UK Founding Director at McGregor Coxall, said: “We are thrilled that the Springstead Village Design Code has earned the Landscape Institute’s accolade for Excellence in Landscape Planning and Assessment.

“The essence of the Design Code lies in its robust foundation of living infrastructure, weaving climate resilience and societal well-being into the fabric of Springstead Village’s future.

“Central to this project’s triumph was the close collaboration with Pollard Thomas Edwards, Bellway, and the Greater Cambridge Planning teams, a partnership that was instrumental in bringing the Design Code to fruition.

“Our heartfelt thanks go to the Landscape Institute for acknowledging the strategic impact and transformative potential of landscape-led master planning in shaping resilient, vibrant communities.”

To find out more about Springstead Village, visit https://www.bellway.co.uk/new-homes/essex/springstead-village or call the sales team on 01223 081346.

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Advice for homeowners considering sprayfoam insulation for their roof https://www.padmagazine.co.uk/home-decor/advice-for-homeowners-considering-sprayfoam-insulation-for-their-roof/ https://www.padmagazine.co.uk/home-decor/advice-for-homeowners-considering-sprayfoam-insulation-for-their-roof/#respond Wed, 21 Feb 2024 12:54:19 +0000 https://www.padmagazine.co.uk/?p=22850 It is hardly surprising in a climate in which homeowners are continually being advised about the urgency of…]]>

It is hardly surprising in a climate in which homeowners are continually being advised about the urgency of taking green measures in their properties that insulation should be high up on their list of priorities.

And the arguments for taking sensible steps are difficult to ignore. More than 50% of all energy produced by humanity is lost as heat and by reducing the amount of waste heat going into the environment, we can save money and improve sustainability.

But there are ways of making improvements, and one of the most promoted at the moment – especially as we suffer another miserable winter – is spray foam insulation for roofs.

A quick Google or Facebook search will throw up countless companies offering this method as a quick and easy solution to heat loss in the home. Many others try to attract customers by the dubious methods of cold calling.

The simple advice for homeowners if they find themselves considering spray foam insulation as the answer to their energy efficiency problems: Don’t.

Installing spray foam within a property’s roof void significantly reduces airflow in and out, trapping moisture and increasing the risk of condensation. Most roofs in Scotland are constructed with timber. Timber and elevated moisture levels will lead to decay over a period of time.

This poses a risk to the structural integrity of the roof, considerably reducing the life expectancy of the roof structure.  Furthermore, the presence of spray foam conceals the roof timbers from view, meaning such defects could go un-noticed before the extent of the problem is realised leading to costly remedial repair works.

It is an unregulated field with installers either not aware of the consequences of such products or they are out on what can only be described as a ‘get rich quick scheme’, charging thousands of pounds to install these products which they will have no obligation to rectify at a later date, if, that is, they can be located or contacted afterwards.

One of the arguments used to persuade people to sign up for a course of treatment is that there is moisture in the roof space. Even if this is so, the solution to moisture within a roof void is often not insulation but improved ventilation.

That is why the traditional method of dealing with roof spaces is to install the insulation on at ceiling joist level and have gaps in the eaves and/or ridge to allow air to circulate throughout the space.

Furthermore, the majority of mortgage lenders will refuse or restrict lending where spray foam insulation has been installed, significantly reducing the property’s value where it is deemed not suitable for mortgage purposes.

It is not unknown for people who have spent, say, £5,000 on having their roof sprayed to subsequently have to shell out £25,000 -£30,000 for a new roof in order to make their property mortgageable again.

On top of that, the process itself is often coarse and messy. There are instances where unsuitable contractors have covered the entire space in foam – including the suitcases and Christmas decoration boxes stored in the attic.

Beware of cold callers offering such products. If it sounds too good to be true, often this is exactly the case. Before carrying out any home improvement involving new or seemingly innovative products, consult a professional for advice.

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DEMAND FOR SMALLHOLDINGS CONTINUES TO DRIVE DUMFRIES AND GALLOWAY PROPERTY MARKET https://www.padmagazine.co.uk/press-releases/demand-for-smallholdings-continues-to-drive-dumfries-and-galloway-property-market/ https://www.padmagazine.co.uk/press-releases/demand-for-smallholdings-continues-to-drive-dumfries-and-galloway-property-market/#respond Wed, 21 Feb 2024 07:49:43 +0000 https://www.padmagazine.co.uk/?p=22838 The property market in Dumfries and Galloway has continued to attract high demand from lifestyle buyers with a…]]>

The property market in Dumfries and Galloway has continued to attract high demand from lifestyle buyers with a third of all property sales last quarter (Q4, Oct – Dec) being smallholdings, reports Galbraith.

Smallholdings with land up to 50 acres continued to attract heightened demand from buyers keen to relocate to the area from the rest of the UK, with three quarters being from south of the Border and a quarter being from within Scotland. Demand outstripped supply in this market segment highlighting the draw of rural living in Dumfries and Galloway.

The team in Castle Douglas recorded a 16 per cent increase in the number of viewings conducted during the final three months of the year compared to the same quarter the previous year. Double the number of prospective buyers also registered with Galbraith in Castle Douglas over the same period, indicating a healthy appetite from buyers keen to make their next move.

David Corrie, head of residential sales for Galbraith, located in Castle Douglas, said: “It’s encouraging to witness healthy property sales and buyer activity in our final quarter of last year.  As we enter the busy Spring selling season, the market is indicating a good level of competition from lifestyle buyers who remain attracted to the area given the quality of properties available and the value for money property in the region offers compared with many other parts of the country.

“Dumfries and Galloway is a stunning part of Scotland to live with buyers being attracted to the great outdoors and beautiful coastal scenery, from The Mull of Galloway to Gretna Green and everywhere else in between. With beautiful views and numerous paths for walking, cycling and wildlife watching, as well as offering opportunities for sailing and a wide range of water sports, the region really does offer a fantastic work-life balance for families, especially with hybrid working here to stay.

“It’s no surprise that small holdings are in particularly high demand, offering a sizable portion of land to allow owners to be more sustainable and grow their own, as well as offering ample outdoor space for young kids and their four-legged friends. We have buyers registered with us and ready to make their next move so anyone thinking of selling should take advantage of the current competitive market conditions.”

Currently for sale through the Agency Team at Galbraith in Castle Douglas offering a combination of rural and coastal living:

Balgowan Farmhouse & Steading, Ardwell, Stranraer, Dumfries and Galloway, Offers Over £325,000

Balgowan Farmhouse (B-listed) and Steading sits in a slightly elevated position with uninterrupted views over the surrounding countryside, Luce Bay and the coast beyond. The striking curved architecture with conical roof to the front sets this property apart from more traditional farmhouses in the region. Balgowan Farmhouse provides a blank canvas in its current condition however, it has the potential to be a stunning country home sitting in 2.74 acres of land, surrounded by open farmland and within walking distance of the beach.

The Old Lifeboat Station, Auchencairn, Castle Douglas, Offers Over £850,000

The Old Lifeboat Station is an idyllic coastal retreat in a breathtaking location with its own slipway, direct access to the sea and panoramic views of Auchencairn Bay on the Solway Firth. The B-listed property is nestled among six acres of garden and woodland, home to an abundance of wildlife, including red squirrels. Established in 1884, the property was converted and extended by the current owners in the late 1990’s to create an award-winning four-bedroom house.

Balgowan Cottages, Ardwell, Stranraer, Dumfries and Galloway, Offers Over £450,000

1 & 2 Balgowan Cottages offer a beach retreat with uninterrupted views over Luce Bay and a small paddock. Two semi-detached properties with a shared outbuilding, ‘The Bothy’, offering potential to convert the cottages in to one property, subject to relevant planning consent. The property is surrounded by open farmland with stunning views and numerous beaches close by.

Kirkeoch, Kirkcudbright, Dumfries and Galloway, Offers Over £250,000

Former farmhouse Kirkeoch, sits west of Kirkcudbright and enjoys breathtaking views of the Dee Estuary. Kirkeoch represents an opportunity for a buyer to create a wonderful family home in a sought-after area.

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Invest in Leicester Round Table Explores Public-Private Collaboration for Affordable Housing https://www.padmagazine.co.uk/press-releases/invest-in-leicester-round-table-explores-public-private-collaboration-for-affordable-housing/ https://www.padmagazine.co.uk/press-releases/invest-in-leicester-round-table-explores-public-private-collaboration-for-affordable-housing/#respond Tue, 20 Feb 2024 07:27:59 +0000 https://www.padmagazine.co.uk/?p=22815 Forty key figures from the property and construction sector recently convened at an Invest in Leicester round table,…]]>

Forty key figures from the property and construction sector recently convened at an Invest in Leicester round table, hosted by Leicester City Council. The event focused on collaborative efforts to address the city’s growing need for affordable housing.

Chris Burgin, Director of Housing at Leicester City Council, outlined the significant challenge: to deliver the volume of affordable homes required annually to meet the needs of the community, encouraging a united approach between the public and private sectors.

The round table session served as a platform for open discussion and exploration of collaboration opportunities. Property executives from Leicester and Leicestershire delved into potential strategies including joint venture models, innovative construction methods and best practice examples of utlilising public sector assets.

Chairing the meeting was Richard Sword, Strategic Director of Leicester City Council, who said: “Delivering affordable housing for our residents is a top priority for the council, and the significant interest and attendance at this round table demonstrates the strong appetite within the industry to collaborate and tackle this challenge together. By working hand-in-hand, we can create housing solutions that are sustainable, accessible, and enrich the lives of our residents.”

The roundtable focused on several housing challenges faced by the City Council, which declared a housing crisis in 2022, calling for urgent action from the central government to ease pressure caused by the growing demand for affordable housing.

Leicester’s Deputy City Mayor for Housing, Cllr Elly Cutkelvin, said: “We have an ambitious plan to deliver housing for the residents of Leicester, however, we know that we cannot deliver this alone, and we need to work with the private sector in order to respond to the housing challenges in the city.

We are excited about the opportunity to collaborate with our private sector partners in this endeavour to accelerate the delivery of housing for our residents. The discussions during the recent roundtable have highlighted the enthusiasm of our partners to join forces with us in championing our vision. Together, we are committed to ensuring that our residents gain access to affordable and quality homes.”

The event generated positive feedback from attendees, highlighting the crucial role of public-private partnerships in addressing the city’s housing needs. Participants expressed enthusiasm for continued dialogue and collaborative action.

Rob McGuinn, Vice Chairperson at the property professional services firm MDA Consulting, said: “The collaborative spirit at this round table was inspiring. Collaborating with the council, we can build a mutually beneficial relationship that delivers a future where everyone has access to secure and affordable housing.”

The Invest in Leicester round tables are held quarterly and provide an opportunity for authorities across Leicester City and Leicestershire County to discuss key challenges and opportunities to stimulate collaboration for the good of business and residents.

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MAJOR MILESTONE FOR JEWELLERY QUARTER GATEWAY SCHEME AS BUILDING TOPS OUT https://www.padmagazine.co.uk/press-releases/major-milestone-for-jewellery-quarter-gateway-scheme-as-building-tops-out/ https://www.padmagazine.co.uk/press-releases/major-milestone-for-jewellery-quarter-gateway-scheme-as-building-tops-out/#respond Thu, 15 Feb 2024 08:44:07 +0000 https://www.padmagazine.co.uk/?p=22745 JQ Rise, a striking new 226-home development at the edge of Birmingham’s Jewellery Quarter, has marked the major…]]>

JQ Rise, a striking new 226-home development at the edge of Birmingham’s Jewellery Quarter, has marked the major milestone of reaching its highest point during construction – known as ‘topping out’. The scheme has been delivered by Birmingham-based residential developer and investor Prosperity Group.

JQ Rise is located on Summer Hill Road & Goodman Street. The new homes are spread
across three blocks ranging from four, eight and a 25-storey tower and includes external
communal gardens for residents.

The milestone was celebrated by members of the Prosperity Group team, as well as some of the scheme’s major contributors, including FPMcCann, CBP Architects, and Thornley &
Lumb Partnership.

The building has topped out two years after groundworks were laid. The internal fit out of the building is also being completed at pace, with the development set to welcome its first
residents in Summer 2024.

All 226 new homes have already been sold ahead of completion of the new milestone
residential scheme. JQ Rise is among several Prosperity Group-led projects being developed across Birmingham in 2024, with works set to begin on 146 new homes on Kent Street in Southside and 687 new homes in Digbeth later this year.

Joe Billingham, Chief Executive at Prosperity Group, said: “I am delighted that we have now reached this milestone as we draw closer to completing the entire development of JQ Rise. It is a fantastic project for Birmingham and one that we are extremely proud of. It has seen us transform of a brownfield site to deliver new homes as well as local growth and prosperity.

“JQ Rise is a key part of our exciting development pipeline for 2024, as we continue to
deliver high-quality places for people to live. This moment is a clear sign that we are
delivering for the city.”

Mark McCann, Director at FPMcCann, said: “We’ve been delighted to partner with Prosperity Group on this excellent project. It is a great showpiece scheme right in the centre of Birmingham and one with great unique features that helps elevate the value JQ Rise creates for the city and local area.”

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Building homes and habitats for nature https://www.padmagazine.co.uk/planning-developments/building-homes-and-habitats-for-nature/ https://www.padmagazine.co.uk/planning-developments/building-homes-and-habitats-for-nature/#respond Tue, 13 Feb 2024 09:32:04 +0000 https://www.padmagazine.co.uk/?p=22723 A North East regeneration specialist, which is delivering homes for people with specific housing needs, is also boosting…]]>

A North East regeneration specialist, which is delivering homes for people with specific housing needs, is also boosting local wildlife and biodiversity.

As part of an ongoing drive to make ecological considerations in the design of its projects, Vistry North East is implementing various habitat enhancements at a development of apartments for people over 55, in Penshaw, near Sunderland and at an Extra Care project, in Guisborough, North Yorkshire.

Part of the Vistry Group, Vistry North East enlisted ecological consultants, Ecosurv, to offer pre-construction advice, expertise and ongoing guidance throughout the builds. Operating under its ‘Habibat’ brand, Ecoserv has developed a range of habitat features tailored for bats, birds and bees, which can be seamlessly built into brickwork. Each product has been developed in conjunction with relevant advisory organisations, such as The Bat Conservation Trust and RSPB.

Impressed by this habitat feature range, Wienerberger bricks, a key partner in Vistry’s supply chain, has allocated dedicated factory space in their UK facility to manufacture these units for use on new developments.

Across the two developments, Vistry North East is installing eight bat boxes – including three specifically designed for bats during the breeding season; six swift nesting boxes, five sparrow nesting boxes; five bumble bee boxes and ten bee bricks – which provide a host of varying sized nesting spaces for solitary bees. In addition, six open fronted nest boxes – to be installed in retaining walls at the development in Guisborough – will provide additional spaces for insects to live and thrive, boosting biodiversity.

Andrew Mayfield, Senior Design Manager, Vistry North East said: “The loss of habitat for our native wildlife has been a huge driver in the continued decline of many species across the UK. Swifts were added to conservation experts’ red list of the UK’s most endangered birds in 2021 and eight species of bee – a third of the remaining species we have – are currently listed on conservation priority lists, due to their large-scale declines in distribution. These are just two worrying examples.

“However, by thinking imaginatively, working with experienced and knowledgeable partners and implementing design features that create habitat and promote biodiversity, new development can make a positive impact – providing new spaces for animals to live and thrive.

“Our planning and site teams have gone the extra mile on both developments to maximise the opportunities presented and we will continue to explore opportunities to enhance the natural environment in the communities in which we build.”

Graham Jeffery, Managing Director, Ecosurv said: “Wildlife is in a state of decline across the UK with 41% of species reducing in number since 1970. The modernisation of building materials with new designs in recent years has meant that species which previously adapted alongside the built environment, have quite often become excluded from newer buildings. Operating nationally, we have partnered with Wienerberger to combat this problem by producing a range of eco-habitat solutions for a wide range of species including birds (swifts, starlings, sparrows, robins, wrens and redstarts) bats and bees.

“We are delighted to be working with Vistry North East on a number of projects across the region and have been impressed by its progressive approach to the issue of habitat creation on its developments.”

Paul Hodgkinson, Director of Business Development, Wienerberger, Said: “The collaboration between Wienerberger and EcoSurv is testament to the connection between sustainable development and the preservation of biodiversity. By creating spaces that provide opportunities for wildlife we can help reduce species decline across the UK.

“In July last year, MPs debated a call for swift bricks to be made mandatory for new housing development due to declining numbers – following an e-petition which gained more than 100,000 signatures. Eco-habitats allow developers to integrate features such as swift bricks aligning not only with future legislative changes but setting precedents for ecologically responsible development.”

At Penshaw Gardens, just off Station Road in the village, Vistry North East is delivering a complex of 72 apartments for people over 55, in collaboration with Sunderland-based housing association Gentoo Group.

At Guisborough, just off Spring Wood Road, a 83 unit extra care facility, for people with specific housing needs, is currently being constructed for Housing 21, a national provider of Extra Care and Retirement Living for older people of modest means.

Vistry North East is part of Vistry Group, the UK’s leading provider of affordable mixed tenure homes. A young and dynamic business with a Partnerships-led approach – delivered through the Countryside Partnerships brand – the Group is delivering thousands of homes every year for the affordable and private marketplaces. The Group also encompasses a portfolio of retail brands, including Linden Homes, Bovis Homes and Countryside Homes.

Vistry North East is currently active on 15 construction sites around the North East region with a gross development value of just over £630 million and is working with six housing associations and seven local authorities.  

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Discounts on prime property in the Home Counties outpace London – creating opportunities for buyers https://www.padmagazine.co.uk/news/discounts-on-prime-property-in-the-home-counties-outpace-london-creating-opportunities-for-buyers/ https://www.padmagazine.co.uk/news/discounts-on-prime-property-in-the-home-counties-outpace-london-creating-opportunities-for-buyers/#respond Tue, 13 Feb 2024 09:28:07 +0000 https://www.padmagazine.co.uk/?p=22720 Investec research reveals that the average price reduction on £1m+ homes in the Home Counties was 10% in…]]>

Investec research reveals that the average price reduction on £1m+ homes in the Home Counties was 10% in H2 2023 vs 8.6% for a sample of equivalent properties in London.

Data was gathered from tens of thousands of properties between 1 June and 1 December 2023.

  • Berkshire saw the smallest average reduction in price (8.5%) whilst also being the slowest market, with £1 million+ homes taking 111 days on average to sell. Prime properties sold fastest in East Sussex (just 74 days).
  • West Sussex saw the largest average price reductions by both absolute value (£187,805) and percentage (12.6%).
  • Surrey had most new listings of homes over £1m, almost double that of Hertfordshire, which had the second most listings.
  • Crucially, the availability of prime property, time taken to sell and average price and reduction varies significantly between the counties Investec explored – meaning that buyers who want to capitalise on opportunities should get to know their target market.

13 February 2024: Prime residential property in the Home Counties has seen significant price reductions of 10% on average since June 2023, as the impact of interest rate increases begins to be felt, according to new research from Investec, the leading private bank.

The figures – based on data from tens of thousands of UK addresses – also cover several postcodes in prime central London and show that discounts on high-end property have been less significant across these areas of the capital (8.6%).

Anecdotally, Investec is seeing high levels of interest in prime property in the Home Counties – particularly in locations within commuting distance of London. The recent price discounts could therefore create opportunities for potential buyers.  

West Sussex saw the largest average price reduction both by value (£187,805) and as a percentage (12.6%) over the period, followed by Essex (11.2%) and Kent (10.6%). London generally proved more resilient, with an average reduction of 8.6% and reductions as small as 4.8% in postcodes such as NW3. However, there was variation in the capital too, where sellers in W2 and W8 postcodes reduced prices by an average of 12% and 11.5% respectively.

Across the Home Counties, prices in Berkshire were the most robust, with an average reduction of 8.5%. However, it was also the slowest market, with £1 million+ properties taking 111 days on average to sell, followed by West Sussex (100 days) and Kent (99 days). Prime properties sold the fastest in East Sussex where the process took 74 days on average.

Unsurprisingly, London properties over £1 million had the highest average sales price at £1.85 million, followed by Buckinghamshire (£1.65 million) and Oxfordshire (£1.62 million). The lowest average was East Sussex with £1.34 million.

Oxfordshire had the smallest amount of new supply, with just 719 new listings of properties over £1 million in the period. At the other end of the spectrum, Surrey has the best new supply – with 2,928 new listings (more than double the Hertfordshire, the next best supplied market with 1,670 listings). This reflects the large amount of prime property in Surrey.

Carlos Mendes, Private Banker at Investec, said:

“The Home Counties are often referred to as a collective, but our research shows that there is a significant variation in the availability and price of prime property in these areas. The gradual return to office-based working has brought the commute time firmly back into focus, so we’ve seen greater client demand for the established commuter towns on the outskirts of London. Proximity to top-performing schools also remains a key priority, as does access to good local restaurants and amenities. In the current interest rate environment, it is perhaps unsurprising to see the larger price reductions occurring further afield, in locations such as West Sussex, where second homes are more prevalent. 

“Every property purchase is unique, and every person’s financial situation is unique. It’s therefore important that high-net-worth individuals work with lenders who understand their ideal home and location so they can access a mortgage that meets their needs, in a timeframe that allows them to seize opportunities.

The findings from Investec’s private banking team covered residential properties for sale from 1 June to 1 December 2023 across the Home Counties of Berkshire, Buckinghamshire, East Sussex, Essex, Hertfordshire, Kent, Surrey and West Sussex and Oxfordshire, and eight prime central London postcodes (NW3, SW6, W8, SW3, W2, W11, SW11, NW8). 

Investec’s Property Index 2024 can be found here: Investec Property Index 2024.

Investec offers a range of private bank accounts for clients earning at least £300,000 a year and with a minimum net worth of £3 million. Teams are structured by profession – enabling them to understand the complex earning profiles that HNWIs often have. Clients are looked after by a dedicated private banker who can provide tailored banking, borrowing, savings solutions or foreign exchange. 

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Padel and the growing demand for specialist Real Estate expertise https://www.padmagazine.co.uk/news/padel-and-the-growing-demand-for-specialist-real-estate-expertise/ https://www.padmagazine.co.uk/news/padel-and-the-growing-demand-for-specialist-real-estate-expertise/#respond Fri, 09 Feb 2024 17:23:49 +0000 https://www.padmagazine.co.uk/?p=22693 Full-service law firm responds to huge demand for dedicated, new-build Padel clubs with a specialist, multi-discipline team advising…]]>

Full-service law firm responds to huge demand for dedicated, new-build Padel clubs with a specialist, multi-discipline team advising clients throughout the UK

Full-service law firm JMW Solicitors has launched a specialist Padel team dedicated to serving up legal expertise to the many entrepreneurs in the market for building their own Padel courts and/or opening their own Padel clubs.

JMW’s legal experts in the fields of Real Estate, Intellectual Property, Corporate, Commercial, and Employment have joined together to create what the firm believes is a unique offering, and already the team is working on 37 separate projects throughout the UK.

A very particular demand arising from the ever-increasing Padel industry is the need for expert Real Estate guidance. Paul Burton, partner within the JMW Real Estate Commercial team, explained: “There are multiple issues around the growth of the sport, not least of which is the demand: there is a supply issue, whereby in the UK there are circa 300-400 operational courts, but a need for circa 6000 courts to meet that current demand – which shows every sign of growing exponentially.”

The Padel Real Estate team at JMW has vast experience with dealing with landowners including sports clubs, local authorities, farmers and commercial investors on the other side, bringing together the team’s significant development, occupier, leisure and infrastructure expertise to offer bespoke and flexible solutions to suit a wide variety of situations.

“We know exactly how to flush out the issues at day one and can offer a unique viability product to check that sites are viable prior to too much initial expenditure,” Paul added. “We are able to act fast and we understand this highly competitive market and the race to open in all locations.

“We’re streamlining the legal documentation and process whereby clients can take advantage of what is effectively a one-stop-shop for their needs, working closely with our Construction and Planning teams within our Real Estate offering, and bringing in experts in our other departments, such as our Commercial colleagues who document bespoke profit share arrangements for additional elements of Padel clubs such as food and beverage and pro shops.

“Ultimately, we are the full-service law firm at the forefront of this new leisure area, driving and helping form market standards, bearing in mind that even when deals start completing data won’t be available at the Land Registry for at least six months.”

JMW spotted the Padel opportunity last year when its Managing Partner and Padel obsessive Marc Yaffe was invited by a business colleague to play Padel at his home; following a court-side conversation he realised that the desire to develop the sport was widespread, but was not matched by the necessary legal know-how when it came to negotiating on potential sites, protecting IP and drawing up the commercial agreements necessary to monetise such business ventures.

Marc Yaffe added: “The key element of our offering isn’t just the legal expertise to be found at our firm, but our determination and desire to work together across multiple specialisms with the aim of delivering a fast, effective and specialised service to those in the fast-growing Padel sector.”

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£1.1million paid for large Midlands canal marina sold prior to auction, thanks to Bond Wolfe https://www.padmagazine.co.uk/press-releases/1-1million-paid-for-large-midlands-canal-marina-sold-prior-to-auction-thanks-to-bond-wolfe/ https://www.padmagazine.co.uk/press-releases/1-1million-paid-for-large-midlands-canal-marina-sold-prior-to-auction-thanks-to-bond-wolfe/#respond Fri, 09 Feb 2024 12:58:51 +0000 https://www.padmagazine.co.uk/?p=22681 The interest from potential buyers in a large Midlands canal marina was so strong that Bond Wolfe property…]]>

The interest from potential buyers in a large Midlands canal marina was so strong that Bond Wolfe property agency sold it for £1.1 million a day before its planned auction.

Fenny Marina is on the southern arm of the Oxford Canal at Station Fields in Fenny Compton, near Southam in Warwickshire, with 85 boat berths, a three-bedroomed bungalow and extensive outbuildings.

Bond Wolfe listed the property with a guide price* of £950,000+ in its livestreamed auction on Thursday 8 February, but after multiple enquiries and competitive offers it was sold 24 hours before the auction took place.

The new owners are Crafted Boats Ltd, a family-owned firm of specialist boat builders and repairers based in Bromsgrove, founded in 1953.

James Mattin, managing director and auctioneer at Bond Wolfe, said: “It was a pleasure acting for our client for whom we have successfully sold the marina.

“He can look forward to a well-earned rest after many years ownership and we are very pleased for the purchasers Crafted Boats Ltd, the ideal party to take the marina on to the next level.

“This is a perfect example of our unique hybrid open market and auction offering working in tandem.

“Our comprehensive marketing campaign coupled with the target of a specific auction date focused the minds of seriously interested parties, resulting in a pre-auction sale for well over the guide price.”

Fenny Marina is an established inland waterway marina originally developed in the 1970s with various income streams and the prospect of more if the business is developed.

The dry dock is a separate business that pays £1,250 in rent per month to the marina, with additional income from diesel, LPG, pump-out, waste disposal and chandlery sales.

Aaron Pinder, a director of Crafted Boats Ltd, said: “We want to thank James for all his help and time, as we don’t think this would have happened without him.

“Our plan for the marina is to continue to operate the mooring and services but to look at improving the facility.

“We will also be offering, as we do at our other sites, repaint jobs, hull and top side work, grit blasting and epoxy coating, pressure wash and blacking, plus engine repairs, to name just a few of our services.”

The marina is approached via a recently resurfaced private driveway with electric security gates leading to a car park, with the marina basin beyond.

The office, chandlery and stores face the canal towpath with the dry dock and bungalow at the southern end of the basin.

The entire property extends to around 6.12 acres, while the marina basin itself taking up approximately 4.46 acres with direct access to the canal and a fixed, serviced pontoon mooring with capacity for 85 berths.

The detached and extended three-bedroomed bungalow that comes with the sale has a rear garden and spacious area at the front, with a hallway, kitchen, reception room, utility area, bathroom and bedrooms inside.

MFG Solicitors provided legal advice on the deal for Crafted Boats Ltd, while Freeths Solicitors advised the vendor, whose identity has not been disclosed.

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New home on the cards for Harrogate’s Tourist Information Centre https://www.padmagazine.co.uk/press-releases/new-home-on-the-cards-for-harrogates-tourist-information-centre/ https://www.padmagazine.co.uk/press-releases/new-home-on-the-cards-for-harrogates-tourist-information-centre/#respond Thu, 08 Feb 2024 16:15:57 +0000 https://www.padmagazine.co.uk/?p=22672 Visitors and residents will be able to access details about Harrogate’s attractions over longer hours with plans to…]]>

Visitors and residents will be able to access details about Harrogate’s attractions over longer hours with plans to relocate the town’s tourist information centre.

The centre is currently housed in the Royal Baths, but under plans which are due to be considered by North Yorkshire Council’s executive member for open to business, Cllr Derek Bastiman, it will move down the road to the nearby Royal Pump Room Museum.

The new base is set to open every day except Monday from 9.30am until 5pm, meaning it will be open an extra 15 hours every week, staffed by visitor and experience assistants.

The number of people accessing the centre have dropped drastically since Covid-19 – from 135,000 a year in 2019 to 68,000 last year.

“This fall in numbers is in line with the national average as more people access services online,” said Cllr Bastiman.

“By moving the centre we can make best use of our staff, improve the access and maintain a service that is vital to the local economy. And we can reduce overheads and look to rent the current building as well.”

Cllr Bastiman will make a final decision at the meeting on Tuesday next week (February 14).

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