020 7538 0102
28th July 2017
Red Door Ventures, the developer owned by Newham Council, has been granted permission to convert East Ham Old Fire Station into a mixed-use development of seven flats and a restaurant. Work on the Grade II listed building will begin in November, and is expected to be completed by next summer. The engine room will be converted into an eatery, while the upper floors will be turned into five one-bed and two two-bed flats, all for private rent.
Newham Recorder (21/07/2017)
28th July 2017
House prices in London and other big cities could remain stagnant, Virgin Money has warned, noting its caution over issuing new loans in the capital for fear that borrowers overstretch. Virgin said: “The UK housing market is expected to remain resilient. However, in the near-term there may be some areas of weakness to be navigated. We remain vigilant about the potential for certain regions to see house-price weakness”. In the six months to June 30, gross mortgage lending came in at £4.3bn for the bank, taking its share of the market to 3.5%.
Financial Times (25/07/2017)
28th July 2017
The number of homes bought and sold has fallen to the lowest since October last year, according to HMRC. On a seasonally adjusted basis, there were just 96,910 residential sales last month, down 3.3% from May and the first time this year that the number of house sales has fallen below 100,000 a month. HMRC said that although transactions were up 1% compared with last June, this was partly because sales last year were dampened by stamp duty land tax changes introduced in the budget.
The Times (22/07/2017)
28th July 2017
The government is to consult on proposals to crack down on leaseholds on new-build homes and a dramatic reduction in ground rents. The trend for new-build houses being sold as leasehold has accelerated in recent years, with leaseholders often finding themselves caught out by clauses allowing for dramatic increases in ground rent. The Department for Communities and Local Government (DCLG) said its proposals aimed to make future leases fairer by reducing ground rents to zero so they "relate to real costs incurred".
The Daily Telegraph (24/07/2017)
21st July 2017
Tower Hamlets Council’s strategic development committee has rejected proposals for a part 18- and part 37-storey residential and hotel block in Limehouse. The plans, submitted by West India Property Investments Limited and architects Simpson Haugh and Partners, would have seen 320 hotel rooms and 202 residential flats, as well as retail and community floor space, built at 82 West India Dock Road, near Westferry DLR station. A conservation and design advisory panel meeting last October raised a number of concerns about the project, including the height of the building in comparison with its surroundings, the high density of homes within it, and the designation of just 34% of the properties as affordable.
The Wharf (18/07/2017)
21st July 2017
The state-owned Abu Dhabi National Exhibitions Company, owner of the ExCel London conference centre, has formed a venture with housebuilder Mount Anvil to deliver up to 1,000 apartments next to the venue. The company is yet to apply for approval to build on the land, about two miles east of Canary Wharf, which is currently used as a car park.
The Independent (17/07/2017)