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We are a property recruitment consultancy specialising in the built environment from funding and investment to design, construction, management and maintenance
Just in case there was any doubt, your rent really is growing faster than your income
Goldman Sachs confirmed yesterday what we all have know long ago: the rent is too damn high.
Goldman took a look at shelter - either mortgage or rent costs- inflation that has been increasing steadily over the past few years. The inflation for "shelter" is responsible for about 40% of the Consumer Price Index, which measures changes in what the consumers are spending their money on each month. Shelter spending has been increasing by about 3%.
Continue reading...Royal Bank of Scotland has become the second major lender to clamp down on large mortgages, announcing it will restrict lending on loans above £500,000 as fears grow that the London property market is entering bubble territory.
The move came as figures from Nationwide building society showed UK house prices hit a new peak in May breaking the previous high reached before the financial crisis to hit an average of £186,512.
Continue reading...Neither David Cameron nor George Osborne needs much encouragement to appear in a safety suit and a hard hat. In a rare double act in April the prime minister and chancellor visited a building site on the M1 to promise that more than 200 rail, road, broadband and water projects would be heading for completion this year. It was part of a bigger national infrastructure plan, a wish list of almost 650 schemes, from HS2 to better drainage on the M3.
The momentum will continue in this week's Queen's speech, which is expected to contain an infrastructure bill attempting to fast-track contentious projects, including fracking.
Continue reading...The London property developer Telford Homes has seen its profits more than double in the latest sign of surging demand for bricks and mortar in the capital.
Telford Homes is the latest homebuilder to benefit from the mismatch between demand and supply in London, with Wednesday's announcement of bumper profits following spectacular results from Barratt, Bovis and Persimmon earlier in the year.
Continue reading...The infrastructure group Balfour Beatty said on Tuesday its chief executive Andrew McNaughton had quit as it warned that 2014 pre-tax profits would be significantly lower than previous expectations.
The company said the weakness came from its British construction business, where it now expects a £30m shortfall in 2014. As a result, overall pre-tax profits for 2014 are seen in the range of £145m to £160m.
Continue reading...UK house building is enjoying its longest run of growth since before the financial crisis in a further sign of Britain's booming property market.
Housing construction grew for a 15th month in April, the longest period of continuous growth since 2006/07 according to the Markit/CIPS construction PMI.
Continue reading...Police say the man died on the construction site in Brighton East when the wall fell on him at 9.30am on Monday
A construction worker has been killed when a wall collapsed at a Melbourne building site.
A man who was working at the site of a property under construction in Brighton East died when a brick wall collapsed at 9.20am (AEST) on Monday, police said.
Continue reading...Cushman & Wakefield, the world’s largest privately-held real estate services firm, announced today that it has expanded into Malaysia. The new office in Kuala Lumpur is C&W’s 35th office in Asia Pacific.
Gerald Eve has appointed a new head of its Manchester office to spearhead its continued expansion in the North West as part of its regional growth plan.
Mark Walsh, previously Cushman & Wakefield’s managing partner for the North of England, joins Gerald Eve as partner and will be responsible for heading up the firm’s Manchester office. Mark brings a wealth of experience and his skills will supplement and seek to grow the services offered including business rates, building consultancy, lease advisory, valuation and planning and development activities across the region.
Ken Thurtell, Gerald Eve’s regional partner, said: “The regional offer has always been central to Gerald Eve’s way of working and that is why we have continued to invest in our regional offices in recent years. With more and more evidence of increased activity outside of the South-East of England and more demand from existing clients for regional coverage, we can see further opportunities for growth.”
Simon Rees, managing partner of Gerald Eve, added: “There are some exciting opportunities in the North West marketplace and Mark brings with him the skills and contacts to really capitalise on these. We look forward to working with him in delivering these opportunities and offering enhanced services to new and existing clients.”
Gerald Eve has a team of 20 currently working in the Manchester office, which forms part of a regional network alongside offices in Birmingham, Cardiff, Glasgow, Leeds, Manchester and Milton Keynes.
Property consultant WSP, the firm behind the engineering design for The Shard, estimates that a minimum of 77,000 new homes could be provided by taking to the skies and developing above the service buildings.
This would represent almost 20% of the 400,000 residential properties that London needs over the course of the next decade, while the added benefit would be being able to redevelop ageing and unused healthcare facilities at the same time.
A report by the London Health Commission recently revealed that between £50 million to £60 million was being spent each year on maintaining NHS buildings that were either not used or not fit for purpose.
WSP pointed to other examples around the world, such as in the United States, where private developers are allowed to invest in healthcare facilities and turn the top levels of them into residential properties.
Bill Price, director of the property consultant, claims there is no technical reason why London couldn't follow suit.
He does, however, stress that not every hospital in the capital should be redeveloped into an apartment block.
WSP's estimation is based on their analysis of 79 individual existing NHS buildings in London, allowing for 100 square metres per apartment and using a mixed height overbuild development strategy, with a combination of six, 12, and 18 storeys.
But it does not consider hospital buildings with A&E facilities on site, as developing on these would cause a number of specific planning and construction issues.
This initial analysis by the firm is to be followed by a wider study, which will be published in the autumn, detailing an estimate of overbuilding on all appropriate municipal buildings in the London area.
If all the new residential buildings included 18 extra storeys, WSP estimates that the strategy could provide 118,000 homes – more than a quarter of the estimated need that was outlined by Mayor Boris Johnson.
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