Charlie Wildash

Keeping you informed 🧐 Each week we'll surface headlines that we believe matter to investors, developers and homebuyers. Beyond the base rate hold that dominated the headlines, positive news coming out of Savills caught our attention 👉👉 Savills upgrades its 5-year house price forecast, predicting a 2.5% rise in 2024, a bounce from an earlier -3% prediction. By 2028, expect a 21.6% increase thanks to dropping mortgage costs. Read the full story by clicking the below https://lnkd.in/eSj-Rj3U. #Propertynews #HomeInvestment #MortgageBrokerUK #DevelopmentFinance #UKPropertyInvestment #propertydevelopment #property #PropertyFinance

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The Battle Between V&V and P&P My last official UKREiiF appearance yesterday was on a Panel organised by SLR Consulting in the Industry in Focus Pavilion. Alongside me were Paul Whitaker of SLR, Jon S. (Jon Sandforth) of Homes England, Constanze Bell of Kings Chambers and Hayley Gore of Eversheds. The session was chaired by Mike Axon of SLR. The purpose of the Panel was to delve into the 2023 Appeal decisions for the Homes England and Taylor Wimpey proposals at Pickerings Farm, Penwortham and to look, in particular, at what that decision means for the use of the Vision and Validate approach to masterplanning and transport assessment in major development schemes. The Appeal Decisions, if you've not seen them, are essential reading. As I said to the audience, the key takeaways for me (on the transport planning front) are: a) it absolutely is not the aim of planning to protect the convenience of the car commuter - a predict and provide approach to assessment which invariably assesses unrealistic, worst case scenarios will almost always conclude that developer should be delivering major highway improvements that only encourage car use and increase traffic levels; b) even if a development is forecast to have a residual cumulative impact which is severe, this doesn't necessarily mean that planning permission should be refused - it is merely a factor that must be weighed in the planning balance; c) for all developments, we need to look carefully and critically at active and shared travel links to services, facilities and jobs and find ways of making these effective and attractive; d) Predict and Provide is plainly not the way we should be assessing the transport implications of new development in this day and age. We need to keep pushing back against those that consider it appropriate; and e) whilst there are references to Vision and Validate in Policy, these need to be clearer and stronger, particularly in the NPPF - a task for the Government post 4/7! Many thanks to SLR for hosting.

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We have had several situations where, after the event, clients (as former tenants) have advised that they feel their building surveyor should have recommended use of a section 18 valuation. Read more in our briefing Section 18 - Assisting in Judging Whether or Not Appropriate 👇 #Dilapidations #CommercialProperty #DiminutionValuations #Section18Valuation #CommercialTenants

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A Section 106 Agreement (S106) is a legally binding agreement between property developers and local planning authorities (LPAs) in the UK, named after Section 106 of the Town and Country Planning Act 1990. It outlines specific obligations that developers must fulfil as part of the planning permission process. So what's the. purpose of S106 Agreements: - Mitigate Impact: Ensure that any negative impact of a new development on the local community and infrastructure is addressed. - Community Benefits: Provide benefits to the local community, such as affordable housing, schools, parks, and transportation improvements. - Balanced Development: Promote sustainable and balanced development, aligning with local and national planning policies. Key Components of a S106 Agreement:  1. Affordable Housing: Developers may be required to include a certain percentage of affordable housing units within their project. 2. Infrastructure Contributions: Payments or provisions for local infrastructure improvements, such as roads, schools, healthcare facilities, and public transport. 3. Public Spaces: Creation or enhancement of public spaces, parks, and recreational facilities. 4. Employment and Training: Initiatives to support local employment and training opportunities for residents. 5. Environmental Measures: Contributions towards environmental conservation, such as green spaces, biodiversity, and sustainability initiatives.  How is a S106 Agreement Used? - Negotiation: Typically negotiated between developers and the LPA during the planning process. - Legal Enforcement: Legally enforceable, meaning that failure to comply can result in legal action and halting of the development. - Flexibility: Tailored to the specific needs and context of each development, ensuring relevance and effectiveness.  Benefits of S106 Agreements: - Community Enhancement: Directly benefits local communities by providing necessary infrastructure and amenities. - Sustainable Development: Promotes sustainable growth by balancing new development with community needs. - Planning Approval: Facilitates the planning approval process by addressing potential objections from the LPA and the public.  Example: A developer planning to build a new residential project might enter into a S106 Agreement with the LPA. The agreement could require the developer to: - Provide 30% of the units as affordable housing.- Contribute £500,000 towards the expansion of a nearby school. - Create a new public park within the development. - Fund improvements to local public transport services.  #proppytics #S106 #development#dealsourcing #propertyflip #renovation #refurb #finance#refinance #analysis #dealanalysis #proptech #realestate#ukproperty #newbuild #buytolet #Section106 Agreement #planning#bridgingloan #bridgefinance #jointventure #equity#construction #budget #yield #propertyinvestment #Property #valuation #RealEstate #PropertyDevelopment

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Schroders—a high profile investment firm dating back to the early 19th century—is founded on a business model anchored in delivering quality business portfolios, innovative product and market developments, and premium client services. When Architect TP Bennett and Contractor Overbury approached Style to help them create flexible meeting rooms for Schroders’ office in London, the decision to go with seven Classic™ 60 walls was an easy one for the architects and contractor who were already familiar with the Skyfold advantage. Click below to read more about how Skyfold's Classic 60 was the perfect solution to create flexible meeting rooms. #thinkvertical #flexiblespace #architecture #interiordesign #skyfold #innovation #trending #schroders

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The latest construction PMI figures have shown that activity in the commercial property sector has grown for the first time in nine months with the index now standing at 53.9, making it the fastest-growing area of construction during April.    The increase comes alongside a rise in commercial property investment, which hit a one year high in March. With property rental yields growing, we should be in line for further boosts to commercial real estate output in the coming months, with firms in the sector showing confidence in their growth prospects. https://bit.ly/4dGIWcA #CommercialProperty #ConstructionPMI #RentalYields

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Our latest analysis of the commercial real estate sector - carried out by property consultancy, Lichfields UK - shows that its economic contribution declined in 2023 as uncertain market conditions, high construction and financing costs and planning uncertainty weighed on development activity. 🔗 You can read the full report here: https://lnkd.in/eedK3YdE Highlights:   📊 In 2023, the sector contributed a total of £110.2bn (GVA) to the national economy, down more than 20% from 2022 (£137.5bn) and down from the pre-pandemic level (2019) of £116.1bn. 👥 In 2023 it accounted for 5% of UK economic output, down from 7% the previous year, and saw no increase in the number of direct jobs supported (1.37 m for both 2023 and 2022).   ℹ The weaker performance can be attributed in part to a decrease in capital investment. In 2023 the sector invested £60.5bn, primarily into development and asset refurbishment, down 17% year-on-year (from £72.6 bn) and also below the level seen in 2021 and 2019*.   📈 However, taking a five year view it’s clear that the sector consistently makes an important contribution to the UK’s economy that the next Government should foster. In 2023 commercial real estate continued to be a major contributor of tax revenues, generating £3.9bn in transaction costs and supporting a record £31.5bn in business rates.

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Rob Stanton, Landbay’s sales and distribution director, said: “Despite the various pressures faced by landlords, there is still an appetite for further house purchases. “The increase demonstrates the continued attractiveness of buy-to-let as a long-term investment strategy, which is supported by the strong demand for rental properties. “We are committed to providing innovative solutions that meet the evolving needs of both landlords and brokers. “By combining a growing appetite for investment with our expanding product range, Landbay is well-positioned to support the continued growth of the buy-to-let sector.” More than six out of ten of the landlords intending to buy said their main reason was to build a property portfolio. Meanwhile nearly a third (31%) said it was because of an increase in the number of tenants, up from 26% at the end of 2023. Jimmy Baillie #Ukpropertynews #ukproperty #realestate #financialgoals #buytolet #financialintrdusty #ukbrokers #buytosell #investors #taxes #bankloans #mortgageproperty #mortgage #businessdevelopment 

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The Royal Institute of Chartered Surveyors (RICS) most recent Global Commercial Property Monitor, which indicates a 53% increase in occupier demand overall in the sector, demonstrates this growing interest. Not only are office spaces growing, but demand is also rising in the retail and industrial sectors, rising by 38% and 56%, respectively. This comprehensive demand shows a dynamic and active market. The number of new construction projects, particularly for retail spaces, is rising, indicating that growth in the industry is anticipated. Furthermore, capital value estimates for premium office buildings—which are anticipated to rise by 13.1%—have prime office properties in a euphoric state, and all rent expectations remain optimistic. Newer, energy-efficient homes are the center of interest for investors, suggesting a shift toward sustainability. Despite concerns about prices, it is hard to ignore the strong market fundamentals, which motivate investors to view real estate pricing objectively.

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Explore the latest #RICS Practice Alert on phoenix firms – crucial reading for RICS APC and AssocRICS candidates, as well as qualified surveyors. Dive into the Ethics, Rules of Conduct and Professionalism competency on https://buff.ly/4akBfWY 📖 #property #surveying #buildingsurveyor #quantitysurveyor #CPD #RICSAPC #surveyor #AssocRICS #lovesurveying #valuationsurveyor

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𝐒𝐚𝐯𝐢𝐥𝐥𝐬 𝐎𝐂𝐌 – 𝐓𝐡𝐞 𝐦𝐨𝐬𝐭 𝐚𝐜𝐭𝐢𝐯𝐞 𝐚𝐝𝐯𝐢𝐬𝐨𝐫 𝐢𝐧 𝐭𝐡𝐞 𝐋𝐨𝐧𝐝𝐨𝐧 𝐑𝐞𝐬𝐢𝐝𝐞𝐧𝐭𝐢𝐚𝐥 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 (𝐋𝐑𝐈) 𝐦𝐚𝐫𝐤𝐞𝐭   In 2023, Savills specialist LRI team advised on more than £0.5bn of transactions.   With the largest and most established team in the sector, we continue to lead the market in advising on a wide range of operational assets, from trophy buildings in Prime London’s most desirable addresses through to best-in-class Multifamily assets in London’s key rental districts.   Davina Clowes, Head of London Residential Investment, Savills OCM, comments: “Following an extremely active Q1 2024 for our team, with over £300m of transactions closed, we are 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭𝐢𝐧𝐠 𝐬𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐚𝐜𝐭𝐢𝐯𝐢𝐭𝐲 during 2024 and are currently marketing and preparing for market 17 separate opportunities, spanning Prime Central London portfolios and house builder forward sales, through to highly-amenitised first and second generation stabilised Multifamily assets.”   𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐮𝐬 𝐟𝐨𝐫 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐨𝐧 𝐨𝐮𝐫 𝐥𝐢𝐯𝐞 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬: Davina Clowes, Head of London Residential Investment: DClowes@savills.com James Laverack: Director, Residential Investment and Development – LRI james.laverack@savills.com Laura Skoda: Associate Director, Residential Investment and Development – LRI laura.skoda@savills.com Matthew Higgins: Associate Director, Residential Investment and Development – LRI  matthew.higgins@savills.com   Peter Allen | Andrew Brentnall | Piers de Winton | Polly Simpson | Reem Yousef | Jake Sheffield | Rose Crossfield  #LRI #Investment #opportunitites #operational #ocm #multifamily

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Any further growth in the UK residential market will likely come in the second half of this year. Emily Williams, director in Savills residential research team, says: “The UK housing market has performed more strongly than many had anticipated this year, with an anticipated rate cut and improving economic outlook creating more capacity for house price growth.” Learn more about the property sectors lenders and investors are most interested in ➡ http://savi.li/6045YmMjD #FinancingProperty #RealEstate

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Your favourite Knight Frank Policy Matrix is back... Final installment this week now that #Labour have published its manifesto. So, how's it looking now? Both parties quite chunky on #land and #development. Labour going a bit further on rental reform by pledging to abolish leasehold, Conservatives promising more for First Time Buyers. Some similarities: brownfield-first approach to building, with fast-track planning on previously developed land in cities a key priority for each, plus more locally-led housebuilding stipulated on both sides. Some contradictions: 320,000 homes per year with a "cast-iron commitment" to the Green Belt, and, unlocking homes affected by nutrient neutrality without weakening environmental protections. #housebuilding #generalelection Oliver Knight

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𝐎𝐂𝐌 𝐋𝐑𝐈 - 𝐌𝐚𝐫𝐤𝐞𝐭 𝐋𝐚𝐮𝐧𝐜𝐡𝐞𝐬   Our team of leading 𝐋𝐨𝐧𝐝𝐨𝐧 𝐑𝐞𝐬𝐢𝐝𝐞𝐧𝐭𝐢𝐚𝐥 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 experts currently have 17 𝐬𝐞𝐩𝐚𝐫𝐚𝐭𝐞 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 either live or being prepared for market, including:   1.      Prime Central London (#PCL) portfolios 2.      Housebuilder forward purchases 3.      Highly-amenitised, stabilised Multifamily assets   Matthew Higgins, Associate Director, Savills OCM, comments “We have a range of opportunities from £5m to £200m across London, suitable for a mixture of capital from HNWIs to Institutions both in the UK and overseas.”   Davina Clowes, Head of London Residential Investment, says “The investment case for London remains compelling. The quality of real estate available is exemplary. Each of the assets we are trading positions well on an IRR, yield and per-unit basis. 50% of instructions are traded off market, so please ensure our team are aware of your current requirements”.   For more information, contact the team: Davina Clowes, Head of London Residential Investment: DClowes@savills.com James Laverack: Director, Residential Investment and Development – LRI james.laverack@savills.com Laura Skoda: Associate Director, Residential Investment and Development – LRI laura.skoda@savills.com Matthew Higgins: Associate Director, Residential Investment and Development – LRI  matthew.higgins@savills.com   Peter Allen | Andrew Brentnall | Piers de Winton | Polly Simpson | Reem Yousef | Jake Sheffield | Rose Crossfield  #LRI #Investment #opportunities #operational #ocm #multifamily

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📈 Positive Trends in Lender and Investor Sentiment! 🌟 Savills has revealed a significant improvement in lender and investor sentiment compared to 12 months ago at their 36th Financing Property presentation in London on May 22, 2024. According to a survey conducted at the event, there is an increased willingness to lend and invest, especially in the living sectors, residential development, and prime logistics. 🏡📊 Nick Harris, Savills' Head of UK and Cross Border Valuation, highlighted that sentiment around pricing has improved across all property sectors. He noted, "Positive sentiment is returning, with the living sectors, residential development, and prime logistics most favored by the London lender and investor community." Despite a challenging end to 2023 with only £40bn in assets traded and a slow start to 2024, there is optimism for market recovery. Mat Oakley, Head of Commercial Research at Savills, added, "Some sectors will recover quicker when interest rates come down. We are already starting to see yields harden for retail warehouses, industrials, and hotels." 🏢🏨 📰 Read more @ https://shorturl.at/PnsaY For expert advice and top-notch real estate services, connect with Oasis Developers Limited. We help you navigate the ever-changing property market with confidence! 🌟🏢 #RealEstate #Investment #PropertyMarket #Savills #OasisDevelopers Shankar Devarashetty Venkat Pabbathi BEng, MSc, MCIOB, PMP

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Some big changes to Class Q and rural planning.

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Excellent commentary by Anna Gardiner- MSP's (Paul McLennan) please take note of the evidence in other countries.. rent control = less property + higher rents. We need an end to the uncertainty and risk from current housing bill that currently has Scotland un-investable. Lets start with the consensus by all stakeholders on need for better data and start properly tracking the PRS market, affordability rates across the country and the % of the "Mark to Market" gap between Passing Rent and Open Market Rent Value... so we can identify problem areas and SG can deploy the support where needed... "you can't manage what you don't measure" Robin Blacklock John Boyle John Blackwood David Alexander Miles Gilham

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