An SPV limited company, or a special purpose vehicle company, is a type of limited company this is set up for the sole purpose of owning and managing property, more specifically it's usually for Buy To Let (BTL) properties. An SPV limited company is commonly set up and used because it tends to be more tax efficient than owning and letting a company as a private investor or a sole trader, which needs to be done through self-assessment. Accountancy is [...]
SME developers of custom-built homes on multi-plots can now apply for exemption of the community infrastructure levy thanks to new planning guidance released this week. It also allows custom builders to cover a wider spectrum of projects, including customised housing where the home is built ready for occupation, dubbed turnkey. Procurement organisation Custom Build Homes, CBS, and trade body National Custom and Self Build Association, NaCSBA agreed the new guidance was a positive development. CBS planning and strategic engagement director [...]
A new organisation to champion consumer rights and ensure new build homes are built to a high standard has been launched by the government. Natalie Elphicke MP will chair the new homes quality board which will oversee consultation on a new industry code of practice and new homes ombudsman service. “The new arrangements will lead to a step-change in how new homes are built and sold and how customers are treated. The board is committed to driving new-build quality and [...]
The government is under pressure to extend the green homes grant scheme beyond March 2022 after a committee of MPs described current progress as moving at a snail’s pace. Business, energy and industrial strategy minister Lord Callanan admitted only 20,000 vouchers have been handed out since its launch last summer. The slow take-up led the government to extend the original March 2021 deadline by a year. Environmental audit committee chairman Philip Dunne said: “The principle of the scheme should be [...]
A new migration report published on 2nd February from the CITB (Construction Industry Training Board), suggests that only one in ten construction employers understand the government’s new migration system introduced at the beginning of 2021. A pole within the report found that 39 per cent of the 300 respondents were unaware that the rules had even been changed! Further research found that firms, particularly SMEs, were most worried about “prohibitive costs” that could result in sponsors having to pay £1,000 [...]
Waterbeach New Town East is set to get a further 4,500 new homes after South Cambridgeshire district council granted outline planning approval a few days ago. The new development is five miles north of Cambridge and comprises a mixture of one-bed flats and family homes of up to five beds with 30 per cent being affordable. Planning consultants Boyer submitted the application on behalf of RLW Estates – a consortium comprising Royal London, St John’s College, Cambridge and Turnstone Estates. [...]
New developments should be tree-lined, beautiful and of high quality, according to a new draft national design code launched for consultation by the government. Planning authorities are expected to use it as a tool kit to guide them to develop their own design codes reflecting local community views. Housing secretary Robert Jenrick said: “We need to bring about a profound and lasting change in the buildings that we build, which is one of the reasons we are placing a greater [...]
A new 30-storey office tower with green walls and roof nestling next to London’s walkie talkie building has been approved by the City of London Corporation, CLC. Hong Kong-based developers Tenacity Group are behind the scheme which is the first tall building approved by CLC this year. The proposed new tower at 55 Gracechurch Street, between Monument tube station and Leadenhall Market, offers 34,000 sq m of office space and 2,500 sq m of retail, cultural and open space. Fletcher [...]
Plans for 852 new homes to be built next to the Grade II listed Acton Town tube station in West London have moved a step closer. Ealing councillors approved Transport for London’s, TfL, hybrid application to develop the long strip of 3.64 hectares of land hugging Piccadilly and District Line tracks along Bollo Lane. TfL said it would now be going to the market looking for a partner to deliver the homes of which 50 per cent are affordable. Property [...]
All new homes must be carbon zero ready by 2025 and existing ones must meet higher energy standards, the government has announced. Gas-fired boilers are to make way for energy heat pumps in new housing and existing home repairs and replacements are to be more energy efficient. For example, the specifications of extensions, replacement of windows, new lighting and cooling systems are to be raised. Housing minister Christopher Pincher said: “The radical new standards announced will not only improve the [...]
Millions of leaseholders will be given the right to extend their lease by a maximum term of 990 years at zero ground rent, the Housing Secretary Robert Jenrick announced on 7th January. These new measures come as part of the biggest reforms to English property law in over 40 years, fundamentally making homeownership fairer and more secure. These reforms are welcome news for many This news has been welcomed by many, with Richard Beresford, Chief Executive of the National Federation [...]
Empty garages, council houses and land could be a thing of the past under new proposals launched by the government this week. The proposals would allow individuals or communities to challenge councils to release land and empty buildings for development. Housing secretary Robert Jenrick said new ‘right to regenerate’ proposals would make it easier for councils, or any public body, to call for the release of land for redevelopment. “We are cutting through red tape so that communities can make [...]
