Prospective Property Buyers; Act now to move before Christmas

Rightmove House Price Index Key points

New sellers’ average asking prices up by 0.7% on the month, but 3.0% down over the summer period

Two deadlines should focus the minds of frustrated sellers:
- Christmas is 98 days away but average time on the market is 94 days, so buyers and sellers need to get serious now if they are to tie up a deal before the festive season;

- first-time buyer stamp duty relief is due to finish on 25th March 2012.

Market recovery appears as far away as ever three years after the collapse of Lehman Brothers, as key metrics are little changed:

- new sellers again at 23,000 per week as lack of confidence and inability to move remains;

- prices up by 2.5% in three years, compared with 16.4% in the previous three year period;

- unsold stock per estate agency branch still stuck in the high 70s.

While new planning proposals may boost housing market activity in the longer term, initiatives supporting mortgage lending such as FirstBuy are the more immediate requirement.

Rightmove

Cambridgeshire Development Opportunity for Sale

Cambridgeshire Property for Sale

St. Neots
High Street
St. Neots
Cambridgeshire
PE19

Gross External: 25500 sq/ft*

£ 850,000

This development opportunity is located in the affluent Cambridgeshire Town Of St Neots and is conveniently situated within easy walking distance of both the busy High Street (B1428) and the River Ouse.

The A1 motorway and St Neots Railway Station offer great access into London.

Planning permission has been granted for the part conversion part new build of this former storage and workshops to create 24 residential dwellings and 3 commercial units.

In addition, there is no affordable housing required throughout the development, however there is a S.106 contribution.

St Neots Freehold Property for Sale

Herne Bay Property With Planning, Kent

Kent Freehold Property for Sale, Herne Bay

Herne Bay
Central Parade
Herne Bay
Kent
CT6

Net Saleable: 6380 sq/ft*

£ 925,000
Freehold

Located on the Kent North Coast lays the picturesque seaside Town Herne Bay. With over 2 miles of seafront and golden beaches the town is a popular holiday destination.

The development is situated on Central Parade at its junction with Market Street and is directly opposite the sea. The locations also offers easy access to the main line station, sea front, Herne Bay Town Centre and other local amenities.

Planning permission has been granted for the construction of a ground floor commercial unit (A3) and 9 luxury apartments above (7x2 beds & 2x1 beds)

The seller has started some of the construction.

Kent Property with Planning for Commercial and Residential Development

Tring Warehouse With planning for Sale

Hertfordshire Freehold Property for Sale, Tring

Dixon’s Wharf
Dixon’s Gap
Wilstone, Nr Tring
Hertfordshire
HP23

Gross Site Area: 3.95 acres*

£ 1,000,000

Freehold site of approximately 3.95 acres currently occupied by a large single storey warehouse building.

Dixons Wharf is approximately 14 miles from Junction 20 of the M25 and can be reached in under 20 minutes even during rush hour as the A41 Dual Carriage way gives quick access and traffic flow is moving in the opposite direction. Tring Station is 3 miles from Dixons Wharf and has direct access to London Euston (35 mins), Watford Junction (15 mins), Milton Keynes Central (22 mins) and Birmingham New Street (1h 29 mins).

Dixons Wharf has easy access to several local village pubs and will benefit from an on-site catering facility. There is sufficient car parking for everyone on site, including visitors, and all this comes with the added benefit of outdoor seating areas which are ideal for informal meetings in the sun.

The site benefits from planning permission for a new B1 office development which was granted in July, 2009. This planning permission was for 2,739 sqm of Class B1 office floorspace. The approved commercial scheme reflected the layout of the exisitng building footprint and proposed 16 separate commercial units within 4 blocks. The scheme utilised the existing access off Wingrave Rd.

The site is now considered suitable for residential development and a number of reports have been carried out in this respect. Our client is looking at an outright unconditional immediate sale of the site or a partner with expertize in the matter to tackle a 'subject to planning' for residential application.

Further information is available upon request.

Freehold Property With Planning for Sale, Tring, Hertfordshire

London W10 Property for Sale

London Freehold Listed Building for Sale

North Kensington (Cobden Club)
Kensal Road
London
Greater London
W10

GIA: 8397 sq/ft*

£ 3,000,000

Located on Kensal Road in a wonderful Grade II listed building is the "Cobden Club" a members only bar just a stones throw away from fashionable Portobello Road.

Kensal Road leads off the northern most end of Ladbroke Grove, at the Sainsbury's roundabout. The Club is the last building on the left side of the road, just before Meanwhile Gardens.

The building would be suitable for continued use/owner occupation/conversion or redevelopment (STPP).

Planning permission has been granted subject to a S.106 for the conversion of the existing building into a ground floor gallery & 3 residential dwellings (1x1 bed Apt, 1x2 bed apt & 1x4 bed hse)

GIA 8,397sq.ft

S.106 contribution approximately £3,000

The seller is seeking OIEO £3,000,000

Cobden Club West London Residential and Commercial Property for Sale

Student Accommodation Property Investment; Do your Research

Landlords hoping to invest in student accommodation in London have been offered advice on where to look.

David Lawrenson, property letting expert and owner of LettingFocus.com, pointed out that student letting is a sub-set of the market and has unique features.

"It's a good time to be a student landlord on the whole. One of the key things to look out for on the student market [is that] you have got to get the kind of property that is in demand for students," he noted.

"[It has got to be] in the right area and it has got to be [at] the right time as well because students only look at certain times of year - and that varies by university."

While the majority of first-year students will have been assigned university accommodation by this point, there will still be a number of older students looking to find property to rent in London and in their own university towns.

"One of the key things to be careful of with student lets is that with rising fees coming in, you have to look at the level of demand coming in for that particular education institution where you are buying, because some places are in less demand than others," Mr Lawrenson posited.

"With introduction of fees for students and the increase in cost of university [it] has focused minds a bit more about which university to go to, so look at the level of demand coming through for that particular university."

This may not be the same level of demand that landlords were expecting, but it helps to know the limitations of the local rental market.

Another thing to look out for, according to the expert, is that large companies do not come into an area and build university accommodation blocks that "soak up" most of the student demand.

"If you're not careful you could end up in an area which becomes oversupplied," Mr Lawrenson warned.

His advice came after research from Lloyds TSB revealed the average house price in new university towns has risen by 70 per cent since 2001.

London Property to Rent

Middlesex Property With Planning For Sale, Stanmore, North London

Jubilee Line Property With Planning for 5 Bed Home

Stanmore
Glanleam Road
Stanmore
Middlesex
HA7

Net Saleable: 4000 sq/ft*

£ 1,150,000
Freehold

Glanleam Road can be found in the North London suburb of Stanmore. The property is located on a private road moments from a superb range of shops, cafe's and bars in Stanmore.

Local transport links are available nearby from Stanmore Underground Station (Jubilee Line).

Planning consent has been granted for the demolition of the existing bungalow and for the construction of single family dwelling.

The scheme comprises 5 bedrooms, 4 bathrooms circa 4,000 sq ft.

The property will also benefit from a carriage driveway and large south facing rear garden.

Middlesex Property and Land For Redevelopment

Basingstoke Freehold Property for Sale

Property With Planning for Sale in Basingstoke

Darwell House
Essex Road
Basingstoke
Hampshire
RG21

NIA: 7299 sq/ft*

£ 2,100,000
Freehold

This exclusive development is located close to the mailine railway station and Basingstoke Town centre.

Planning permission was granted for the erection of a side extension, construction of a second floor and minor alterations to existing building to form 14 no flats with associated parking and landscaping (7 x 1 beds & 7 x 2 beds)

All the flats benefit from large lounges, fully fitted luxury kitchens with dining area, good sized bedrooms, bathroom and storage cupboards.

All 14 flats are let on an AST basis @ £125,000 p.a.

Hampshire Property for Sale, Basingstoke

Streatham Freehold Property for Sale, Lambeth, South London

Streatham Investment Property For Sale, Lambeth

Gleneldon Road
Streatham
London
SW16

NIA: 11198 sq/ft*

£ 2,600,000
Freehold

Gleneldon Road is located in Streatham in the London Borough of Lambeth. The subject property is situated on the south side of Gleneldon Road and is bounded by residential units on Gleneldon Road to the north and east, by gardens and thereafter residential units to the south, and by Bournevale Road to the west.

The property is easily accessible via public transport. There are a number of bus routes operating on Streatham High Road (A23) and Tooting Bec Road (A214) providing access to the surrounding areas and Central London.

Streatham Railway Station is located approximately 0.26 miles to the south on Streatham High Road (A23), which provides services to London Victoria and London Waterloo. Tooting Bec Underground Station (Northern line) is approximately 1.4 miles to the north west of the subject property. The immediate area is primarily residential and benefits from a range of independent shops, bars and restaurants.

The properties comprise four semi detached Edwardian houses that have been broken up into 30 flats (22 x studios, 7 x 1 beds & 1 x 2 bed) on an assortment of tenancies (1 x Regulated, 1 x assured, 28 x ASTs)

The buildings benefit from a large rear gardens and off street parking.

Rents average £109 pw, Current Local Housing Allowance Rates are £184.62 pw for studios and 1 bedroom apartments and £230.77 pw for 2 bedroom apartments.

Current Income £171k pa Potential ERV £277k pa
Potential Break-up value circa £3.6m

NIA 11,198sq.ft and GEA 13,815sq.ft

All offers should be exclusive of any VAT which may be charged on the purchase price.

Lambeth HMO Investment Property For Sale

Investment Finance News: Landlords 'should be optimistic' about buy to let opportunities

Landlords with property to rent in London and other parts of the UK are increasingly turning their thoughts to expanding their portfolios, an independent property industry expert has said.

Malcolm Harrison commented that many landlords are right to be optimistic about their buy to let prospects, as the rental market will "remain very tight" until there is more housing stock and a wider range of UK mortgage offers for first time buyers.

"There is no house building, there is a shortage of decent housing in many areas and you can't get a mortgage, so quite a lot of people are going to be very dependent on buy to let investors," he pointed out.

"I think [landlords] are right to be cautiously optimistic anyway because we don't know what is happening with the overall economy yet."

Mr Harrison's comments come after LSL Property Services published research showing half (49 per cent) of landlords think now is a good time to invest in their portfolios, with 86 per cent are planning to do just that in the next few months.

Investment Finance News

Birchington Development Opportunity for Sale

Property With Planning for Conversion

Birchington
The Square
Birchington
Kent
CT7

Net Saleable: 4879 sq/ft*

£ 340,000

Birchington is a quiet popular Town located on the Kent North Coast. This development opportunity is situated at the rear of 8-10 Birchington Square and is a few minutes walk to the local shops, bus routes, railway station and local amenities.

Full planning permission has been granted for the conversion of existing outbuildings into 2 residetial dwellings and the erection of 4 new build houses.

All 6 houses will benefit from 2 bedrooms and off-street parking.

Net saleable approximately 4,879sq.ft

Kent Investment Property for Sale

London Retail Landlords Are Better Off

Landlords who have retail property in London are likely to be better off than their counterparts in town centres.

Matthew Hopkinson, director at the Local Data Company, explained that landlords are finding it tougher to let their town centre retail spaces for a number of reasons.
He explained: "There are lots of aspects about town centres which make it much harder [to let].

"There are a number of dynamics, and those dynamics vary depending on where you are in the country and the type of shop and population that you are serving."
Mr Hopkinson added that infrastructure issues, such as parking and the size of the retail space, are causing problems for landlords.

He claims many retailers want a space that has ease of access and parking that supports their business.

However, landlords who have retail property in London may not need to be too concerned, as Iain Smith, spokesman for the London Chamber of Commerce and Industry, recently said that London is the "best business city in the world".

London Commercial Property News

Central London Investment Property For Sale In Bloomsbury

Bloomsbury Investment Property for Sale

King's Mews
London
Greater London
WC1N

GIA: 10512 sq/ft*

£ 5,650,000
Freehold

The buildings are situated on the eastern side of Kings Mews and can be accessed from Theobalds Road or Northington Street.

The property is located in Bloomsbury in the London Borough of Camden. Chancery Lane Underground station is approximately 350 metres to the south of the property on the corner of High Holborn and Grays Inn Road.

The site comprises a row of 6 freehold buildings. It is our clients wish to retain 2 of the units (preferably 25-26) The Kings Mews buildings are an assortment of low rise commercial buildings with one residential flat across the top floor of numbers 29 and 30.

The buildings for sale form part of a larger consented scheme for residential development. The buildings are now being sold separately and accordingly any prospective purchaser will need to make a separate planning application.

However, given than Camden Council granted a residential consent over the larger property, it could be argued that the principle of residential use for these properties has been established.

Having regard to the size of the buildings and plots for sale, there is potential for the development of mews houses in place of the buildings (subject to all necessary consents).

Individual buildings or parcels can be purchased.

There is an opportunity to develop the buildings on Kings Mews into mews style houses, subject to all necessary consents.

Investment Property in Bloomsbury