A mixture of our Finance news articles from the property world. This includes new developments, auction dates and changes to the UK law.

Design codes make trees ‘de rigueur’ for new developments

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 [...]

City gives green light to flower power tower

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 [...]

New West London Homes

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 [...]

Carbon zero deadline tightened up for new homes

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 [...]

Right to regenerate proposals could favour custom builders

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 [...]

Reality show proposed for showcasing green renovations

A MasterChef reality TV show for green building projects is being floated by house builder and developer trade association Build Europe. The trade body believes such a programme would counteract perceptions that building renovation is ‘old-fashioned and outdated’. “An increasing number of young Europeans are interested in craft professions such as cooking, baking…., occupations that were previously neglected,” said the organisation. The proposal is one of 21 flagged up in its Green Deal and Renovation paper released this week aimed [...]

Glasgow’s Met Tower £100m refurb gets green light

Plans to transform the city’s iconic college tower, dubbed the Met, into a hotel with leisure and grade A office space are set to become a reality. Glasgow city council has granted developers Osborne & Co detailed planning permission to convert the 11-storey tower into a 260-bed hotel with grade A office for up to 1,200 people. The redevelopment of the 1960s B-listed building on North Hanover Street will also offer 25-23,000 sq ft of retail leisure, food and drink [...]

Building industry upbeat about EU trading deal

Construction is gearing up for business as normal with the threat of tariffs and quotas avoided thanks to the trading agreement struck with the EU last month. Trade bodies across the industry are pleased continuity in costs and availability of products and materials is now in place. Construction Leadership Council’s Brexit working group chair James Butcher said: “The mutual co-operation in respect of reducing technical trade barriers and co-operation at the border will also undoubtedly help to avoid some of [...]

Gov’t pledges more new homes for the North and Midlands

Housing secretary Robert Jenrick announced today a rethink on controversial housing need algorithms which favoured the South rather than the North for development. He said an updated method would level up delivery of 300,000 new homes a year concentrating on brownfield and urban sites in England’s 20 largest cities such as Birmingham and Manchester. About £67m is to go to the West Midlands and Greater Manchester combined authorities to help deliver new homes on brownfield sites. The government wants to [...]

Easier public land disposal scheme aims to woo SMEs

The government’s housing accelerator Homes England is simplifying how it engages with developers and housebuilders to bring public land to market. It’s announced a new purchasing system where housebuilders can apply at any time when land comes on stream. Under the old scheme, developers had to join a panel which was renewed every four years. Homes England chief executive Nick Walkley said: “Our new dynamic purchasing system and land led approach really does modernise how we invite bids for public [...]

Homes England hopes vaccine will reverse slump in new builds

 Homes England has reported a year-on-year drop of 56 per cent in the volume of homes started for market sale in the first half of this year. The government’s housing accelerator reported just 2,416 houses were started from April to the end of September compared with 5,052 in the previous year. The number of houses completed decreased by 20 per cent to 3,746 compared with 4,690 for the same period in 2019. Nick Walkley, Homes England chief executive said: “As [...]

Builders Urged: Stockpile EU Supplies

UK Builders are being advised to liaise with their supply chain much earlier than normal as the end of the transition period for leaving the EU looms. Trade body Build the UK has estimated that in the case of a ‘no deal’ Brexit duty and other costs could increase from two to eight percent. Build UK chief executive Suzannah Nichol said: “The overriding message from all businesses is the need for much earlier engagement across the whole supply chain, along [...]