020 7538 0102
16th January 2015
Property developer Ballymore and Malaysia-based Eco World Investment (EWI) have formed a joint venture to purchase three major residential developments, from Ballymore: Arrowhead Quay in Canary Wharf, phase two of London City Island on the Leamouth Peninsula, and phase two of Embassy Gardens in Nine Elms, for a total of £428.7m. Collectively, the three schemes will deliver 2,800 new residential units, along with 250,000 sq ft of commercial, leisure and office space, and will be worth £2.2bn on completion. EWI will hold 75% of the JV, with Ballymore holding the remaining 25%.
Construction News (13/01/15)
16th January 2015
The Ernö Goldfinger-designed Grade II-listed Balfron Tower in Poplar is to be refurbished by a consortium led by property developer Londonewcastle. A planning application for the 1960s Brutalist masterpiece, sister to the Trellick Tower in north Kensington will be submitted by May, with a decision expected by September.
Property Week (16/01/15)
16th January 2015
Research by estate agency Haart suggests about half of the mortgage savings that result from a move to a cheaper property outside London are wiped out by the high cost of getting to work by rail. Many would-be commuters are now turning to the regenerated areas around London’s mainline stations, including communities in London Bridge, Waterloo, Paddington.
Evening Standard (14/01/15)
16th January 2015
Sarah Sands, writing in the Evening Standard, examines some new trends in housing in the capital. She notes that the configuration of homes is a reflection of society, and that nowadays the aspiration lies in kitchens and bathrooms, while dining rooms and studies have become redundant through informality and technology. She is also impressed with the many ingenious solutions to housing problems devised by Londoners, and believes that the housing market is a trigger for profound social change and much of it for good.
Evening Standard (13/01/15)
16th January 2015
report from PwC and the Urban Land Institute has suggested that Birmingham will overtake London this year as the UK’s most attractive city for property investment, as Asian and American funds buy up more of Britain’s buildings. A shortage of available assets and high price tags on office buildings in London will drive investors to look at Birmingham, the report said. Berlin topped the list of cities in which to buy property in 2015, followed by Dublin, Madrid, Hamburg and Athens.
Source: The Daily Telegraph (14/01/15)
16th January 2015
Figures from the Bank of England show that mortgage rates ended 2014 at their lowest level in 20 years. The average two-year fixed-rate mortgage with a 25% deposit fell from 2.17% in November to 2.08% in December, the lowest since records began in 1995, according to the BoE. The average rate on a two-year variable mortgage dropped from 1.81% in November to 1.63% in December, while five-year fixed rates with a 25% deposit remained at 3.21%, both record lows.
The Times (12/01/15)