The government’s IT crowd is moving into the “tech cluster” October 4, 2016 The Government Digital Service (GDS) – the team behind government websites and other services – is moving into Derwent London's The White Chapel Building. GDS has pre-let the top two floors of the building – 53,700 square feet – paying an initial rent of £2.8m per annum. The move from GDS is part of the government's plan to [...]
Value growth for properties in the Nine Elms development set to fall dramatically by 2020 October 3, 2016 Value growth for residential properties in the Nine Elms development is set to fall dramatically over the next three years. According to JLL, average value growth for residential property across Nine Elms was nearly 35 per cent between 2011 and the end of 2015. However, this is set to drop to growth of just six [...]
Tritax Group partners take a stake in the world’s first property exchange planned for 2017 October 3, 2016 The City has come one step closer to becoming home to the world's first securities exchange for commercial property. The International Property Securities Exchange (IPSX) will be the first exchange for trading stakes in companies that own single commercial properties. It is set to launch in 2017. Four Tritax Group partners have now invested in the [...]
Housebuilder share prices climb on chancellor’s £5bn stimulus package for the industry October 3, 2016 Housebuilders' share prices have been climbing today after chancellor Philip Hammond announced he would be providing a £5bn stimulus package for the industry. Hammond will be setting aside £3bn to help build 25,000 homes during the parliament and a further £2bn to encourage developers to build on surplus public land. At time of writing, Persimmon's [...]
Philip Hammond unveils £5bn housebuilding stimulus package October 3, 2016 Chancellor Philip Hammond has announced a £5bn stimulus package for housebuilders, including a £3bn fund to help build 25,000 homes during this parliament. The fund will give loans to small and medium sized housebuilders and those using innovative building methods such as offsite construction. It will also provide funding for infrastructure. Read more: London has fallen out [...]
Battersea developer says project provides huge boost to the British economy October 2, 2016 The developer behind the regeneration of Battersea Power Station has claimed that the project will provide a £20bn boost to the British economy. An economic impact assessment by the Battersea Power Station Development Company (BPSDC) quantified the economic injection of the transformation and added that the project will have created over 20,000 jobs, according to reports in the Sunday Telegraph. [...]
Landlords threaten to hike rents after tax changes kick in October 1, 2016 Landlords have claimed they will be forced to raise rents as a result of the government's string of tax changes and crackdowns on the buy to let sector. A new survey also revealed private sector landlords will not be able to invest as much in improving their properties as a result of the extra charges [...]
New homes on sale this weekend at one of the tallest residential towers in Europe and a historic mansion in Hampstead September 30, 2016 South Quay Plaza, Canary Wharf From £695,000 The arrival of Crossrail trains at the latticed Foster + Partner-designed train station in Canary Wharf will be a “gamechanger” for the area, according to Berkeley Homes. That’s why the developer has chosen the business hub– and the station’s Sterling Prize winning architects – to create its tallest [...]
London swells the taxman’s coffers by paying almost half the country’s levy on home purchases September 30, 2016 The government collected £3.4bn of stamp duty from the London's homebuyers according to statistics released today. The number represented 46 per cent of the total amount of stamp duty paid in the UK over the last year. And together with the rest of the south-east, together the two areas accounted for more than two-thirds of the [...]
Britain’s most expensive streets revealed: Zoopla unveils rich list of top 10 priciest neighbourhoods in London September 30, 2016 The UK's top 10 most expensive neighbourhoods are all still in London and they're all still eye-poppingly pricey – but they are getting cheaper. Well, some of them. Top of Zoopla's property rich list is Kensington Palace Gardens, W8, where the average property will set you back £38.3m, followed by The Boltons in SW10, where a [...]