RICS urges government to re-examine commercial use classes to aid flexibility of use going forward, as the Q1 2020 RICS UK Commercial Survey results point to a sharp deterioration in market sentiment, particularly in retail. Following what appeared to be a promising start to the year for the commercial market, social distancing measures and forced […]
Developer Southern Grove has today revealed details of its first autonomous, city centre apartment hotel. The £5m scheme, named ‘The Workshops’, represents a new hospitality concept for short-term city lets featuring ‘hands-off’, self-contained apartments. These will be let under Southern Grove’s burgeoning hospitality division. The development in Garden St, Sheffield, is an offshoot of a […]
Aspen Bridging has completed a £225k residential bridging loan in just 10 days, using its desktop valuations system to circumnavigate the current surveying shutdown prompted by Covid-19. The loan, which was finalised at a 0.84%pm flat rate over 10 months, was secured by an experienced property developer on a penthouse in Birmingham city centre to […]
‘Product-less’ lender, Octane Capital, today announced that it has completed on a £7.5m developer exit loan to a client of Alpe Capital secured against a completed 15-unit block of flats in South West London. The development funder needed to be urgently repaid as the developer had been delayed in starting the works by over a […]
Legal & General announces that it is investing £150m into Sheffield’s West Bar Square development to deliver the first phase of this substantial mixed-use project in partnership with Developer Urbo and Sheffield City Council, as it continues to invest for the long-term, supporting the UK’s post crisis economic growth prospects, jobs and housing needs. The […]
Aspen Bridging has become the first UK lender to state it will lend on pre Covid-19 property values. Under the market leading offering, all valuation bases are to be provided on the special assumption of normal market conditions as were prevailing as of March 1st, 2020 without the coronavirus and any associated economic impact. The […]
Since we last conducted this survey at the end of March, the number of Covid-19 cases around the globe has more than doubled. But as many countries have reached peaks in the numbers of new infections, some clarity is emerging. Focus is now turning to ending the lockdowns, and in a few countries, some nonessential […]
The West Midlands Combined Authority (WMCA) has approved a further suite of multi-million-pound investments to unlock and transform former industrial sites across the region including Fountain Lane in Sandwell and Abbotts Lane, Coventry. As well as providing housing supply, new commercial premises and high-quality public amenities in line with the WMCA Design Charter standards, the […]
Pluto Finance has closed a £13m development exit bridge loan for Signia in Wembley, London HA9. The facility provides a development exit loan to allow time for the experienced developer to sell the available residential units and provides an equity release to fund new acquisitions. The completed mixed-use scheme is located at the bottom of […]
Real estate businesses are facing a LIBOR crunch, with over half of property businesses with borrowing yet to speak to lenders about alternative interest rate benchmarks, finds research from the law firm Collyer Bristow. Collyer Bristow surveyed 60 real estate business in the UK and found: 70% are aware that LIBOR is being phased out. […]
