In 2006, we extended our sales services to managing this new housing stock and selling to purchasers through the Affordable Housing Scheme. Buyers financing the purchase of an affordable home under the Scheme have two basic options; buying with the assistance of their local authority through the Shared Ownership Scheme, or availing of private finance (97% currently available from selected lenders). property conveyancing services are provided by the highly talented conveyancers of the reputed conveyancing company.
The price paid represented a net initial yield of 8.4% and the purchaser was represented by Cyril Leonard & Co., whilst Jones Lang Wootton represented the vendor.
New Look, one of the U.K’s fastest growing fashion retailers, has taken a new 4,695 square feet store at The Dolphin Centre, Poole.
This important fashion retailer has taken a 15 year lease at a rental of £270,000 per annum with upward only rent reviews at five yearly intervals.
Commenting on the new store, Richard Low, Portfolio Manager at Landlords Hermes, said: We are delighted that New Look are moving to this larger store.
This marks the beginning of a very exciting time for the Dolphin Centre and we anticipate being able to make further announcements about the other major opportunities within the Centre later in the year. The virtual disappearance of the pre-let from the London market in recent months, is returning the office pipeline to its traditional speculative pattern.
Only 17% of the 174,000 sqm in 26 developments that went under construction in the last quarter was pre-let. Some 144,000 sq m was started speculatively.
Despite the publicity that lettings of over £500 per sqm receive, the vast majority of current lettings remain in the £200-£300 psm range, showing little rental growth.
Important new office design changes in London in last three years, result in nearly 70% of 1998 applications on offices comprising mixed use developments rather than pure office schemes. The 1999 pipeline suggests a rise to 90%. A critical paper questioning the green commitment of speculative housebuilders attracted the first prize in this year’s Barrie Tankel Partnership Project Award annual award scheme.
First established in 1988 to reward excellence in the research and presentation of individual study, the annual award is open to final year quantity surveying and building surveying degree students for their final year dissertation.
Building surveying students, to whom the award was opened up this year for the first time, in fact scooped three of the prizes.
The first prize, of £500, was awarded to building surveying student Andrew Bailey of the University of West England in Bristol for his dissertation entitled The Greening of the Speculative Housing Market which explored the nature of green consumerism, The report concluded if green practice is to make a considerable impact on the housing stock, the Envirorunental Standard should be enshrined within the Building Regulations along with a number of financial initiatives to influence environmentally conscious decisions.