Central London office rental values hit double digit annual growth

November 11, 2015 Property News 0

Rental values in central London’s booming office market grew by 10.3% in the year to October 2015, the first time annual growth has hit double digits since April 2008.

The capital saw 1.1% growth in October, as demand for office space continues to overwhelm limited availability, according to the latest CBRE Monthly Index.
 
Despite rapidly rising rents, take-up of offices in central London continues to outpace the 10 year average. Some 3.6 million square feet of space was snapped up by businesses in the third quarter of 2015, with a further 3.8 million currently under offer and expected to complete before the end of the year.
 
Office rents aren’t just rising rapidly in London. Rental values in the office sector grew by 1% across the UK last month, only the third time rents have grown this quickly since the financial crisis, and much faster than the 0.4% seen across commercial property as a whole.
 
Capital values are also growing fastest in the London office market, at 1% in October, some way ahead of the 0.6% for offices outside London, and twice as fast as the 0.5% growth seen across all commercial property. Together, the rising rents and capital values in the UK office market are giving investors total monthly returns of 1.2%.
 
This strong rental value growth means that UK offices are now highly reversionary. The average initial yield for UK offices is now 4.1%, below the pre-crisis low of 4.2%. This compares with the average equivalent yield of 5.4%.
 
The position is even more marked in central London Offices where the average initial yield of 3.1% compares to an average equivalent yield of 4.5%, although strong income growth has closed the gap over the last few months.
 
‘London’s office market has been heating up for some time now, but there is still strong business demand across the capital,’ said Kevin McCauley, head of central London research at CBRE.

‘Rental value growth has not been this sustained since before the financial crisis, and together with rapidly rising property values, landlords and investors are experiencing a booming market,’ he added.

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Historic house with wealth of features

November 11, 2015 Property News 0

When it comes to distinctive homes in the city, it’s doubtful anything comes close to a property in one of Winchester’s most secluded and historic locations.

The Grade 1-listed house in The Inner Close (£4,950 per month, EPC exempt) has been comprehensively refurbished in recent years but with wood panelling and stained glass details it’s doubtful anything else currently available in the lettings market brings such a wealth of features.

With four bedrooms, two bathrooms, and two reception rooms, the house is perfectly geared for 21st Century life despite its ancient origins, especially as it comes with much-prized parking spaces in central Winchester.

In complete contrast is The Lodge at Farleigh Wallop (£2,000 EPC Band B), a newly-built to a very high specification, three bedroom, two bathroom home with three reception rooms and great architectural style. There’s driveway parking and a large garden – the rent also includes the services of a gardener.

Those who dig tending their own plot may be more appreciative of the approximately 1.5 acres at Park Farm House, Over Wallop (£2,995 EPC Band G), which has a wonderful rural location just down the road from Grateley with its fast commuter trains to London. In addition to the main house accommodation of four bedrooms, three bathrooms, and three reception rooms there’s also a self-contained studio that’s perfect for guests, a housekeeper, granny, or nanny!

More compact, but still loaded with style, is a pretty brick and flint cottage at Hambledon (£1,750 EPC Band D), which comes with an alluring set of triples – three bedrooms, three bathrooms, and three reception rooms but these can mixed and matched to suit individual requirements. For those who think country life demands an Aga and a woodburner, this cottage has both.

Rents exclude administration fees, for this information visit CJVIEW.ME/winlet. For more details of the properties, call Carter Jonas on 01962 876838 or email winchester-residentiallettings@carterjonas.co.uk…

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Manor Barns unveiled

November 11, 2015 Property News 0

Hamptons International is delighted to announce the official launch of Manor Barns, a select collection of barn conversions in the delightful village of Twyford, just outside Winchester.

With each building being painstakingly renovated and converted, the development comprises only 11 homes but with a wide range of accommodation and styles that will appeal to a cross section of buyers.

The developer, Bourne Homes Limited, is a family run business with whom Hamptons International has had the pleasure of working with on previous developments in Alton and Farnham. For Manor Barns, Tanya and Andrew Kamm have created a two bedroom show home which will be available to view on Saturday 14 November. In addition other properties may be viewed, although these are still under construction and appointments must be made ahead of time to comply with safety requirements.

Associate Director, Gareth Anwyl of Hamptons International in Winchester believes it is unlikely that the area will see another development of this calibre in such a prime rural position so close to Winchester and thus Manor Barns present a wonderful opportunity for those seeking a country lifestyle with the advantages of having the city on the doorstep.

Sales & Marketing Director, Tanya Kamm of Bourne Homes Limited, said: “There is a fascinating history associated with Manor Barns. We are proud and delighted to be playing a part in the future of this cluster of buildings and creating wonderful homes that purchasers will aspire to.”

Prices for the range of homes start from £425,000 for 1 bedroom; 2 bedrooms from £395,000; 3 bedrooms from £895,000; and £950,000 for 4 bedrooms.

For further details of the launch, please contact Hamptons International Winchester on 01962 842030.…

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New Home at New Road

November 11, 2015 Property News 0

Completely remodelled, extended and modernised, this fabulous detached house at New Road in Swanmore is good as new. With bright and spacious accommodation over two floors, the rooms are flexible to suit demanding family lifestyles with the focus firmly on the stunning open plan kitchen across the rear where there is space for cooking, dining, relaxing and helping with homework as well as entertaining friends and family. The bi-folding doors to the garden suggest spilling out to the paved terrace to enjoy the warmer months when they return.

The entrance hall extends into a lovely dining hall with a solid wood floor with the rest of the ground floor accommodation accessed from a rear hall including a separate sitting room complete with wood burning stove set in a brick fireplace to warm the chilly evenings. The kitchen is beautifully fitted with a comprehensive range of units in muted chalky tones and including a central island. There is also a cloakroom and a large utility room with a door to the garden.

Stairs from the entrance hall rise to the first floor landing which branches off to four double bedrooms and the lovely family bathroom which has a roll top bath against a feature wall and a separate shower cubicle, all in an elegant period style. The master bedroom sweeps across the rear of the house and has a dressing area and a smart shower room. One of the other bedrooms at the front of the house would make an ideal guest suite with twin wardrobes and its own shower room.

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The house sits well within its gardens which have been included in the refurbishment programme and are now laid out in contemporary style with slate edged paved paths, level areas of lawn with specimen planting and enclosed with smart fencing and a brick wall marking the boundary at the front. Accessed from the rear and via electric wooden gates is a driveway and double garage with a studio above.

Swanmore is a pretty village lying within the Meon Valley where undulating countryside sets the scene, easily accessible by a network of footpaths. There are good local shops and amenities within the village together with easy access to Bishop’s Waltham and Wickham.

Harringtons strongly recommends a personal inspection of this superb home and further details are available by calling the Wickham office on 01329 834835. A price of £675,000 is quoted.…

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Celebrate this Christmas in a brand-new Lovell apartment in Southampton

November 10, 2015 Property News 0

The festive countdown is under-way but there’s still time to move into a brand-new Lovell Homes apartment in Southampton – and make Christmas 2015 extra special.

Only a handful of one- and two-bedroom apartments are available at the company’s fast-selling Mansfield Park development in Harefield, a superb collection of aspirational modern homes less than four miles from the city centre.

“Sales have been flying since we released our Grant House apartments at Mansfield Park earlier this year,” says Lovell field sales manager Melanie Richards. “With only a few apartments still available, we’re advising homeseekers to get in touch now.  Just speak to our sales team and we can help you get settled in ready to enjoy all the Christmas festivities in your brand-new home.”

Designed for 21st century living, the apartments at Grant House include a  one-bedroom, second-floor apartment, with parking and balcony, at £153,500 (£122,800 price after a Help to Buy Equity Loan*). The apartment’s open-plan kitchen / dining / living room is an ideal setting for entertaining and socialising with family and friends while Christmas dinner preparations will go even more smoothly in its well-equipped kitchen featuring a Bosch gas hob, with stainless steel splashback, and a Bosch built-in oven. There’s also an integrated washer dryer. The bedroom has a fitted wardrobe and an attractive outdoor balcony space.

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A small number of two-bedroom apartments are available at Mansfield Park from £174,500 (£139,600 price after a Help to Buy Equity loan), all with allocated parking and a balcony. High-specification appliances, including Bosch hobs and built-in ovens are fitted as standard, with master bedrooms in the two-bedroom apartments all offering en-suite facilities and a built-in wardrobe.

Make your money go further with Help to Buy

The availability of the Government’s Help to Buy Equity Loan scheme at the development is another reason to celebrate – and a great way of making your money go further. Help to Buy allows purchasers to secure a brand-new home with a deposit of just five per cent by accessing a 20 per cent equity loan from the Government which is interest-free for the first five years.

Located on the eastern side of Southampton, Mansfield Park has a surprisingly leafy setting, bordering parkland and trees. Transport connections are excellent with Southampton Airport, Swaythling train station and the M27 all within three-and-a-half miles. What’s more, it’s only seven miles to the M3. The development is within easy reach of the city centre with its destination shopping facilities and busy night life, while if you’re looking for spectacular countryside, the South Downs National Park is just seven miles away.

To find out more, visit the sales and marketing suite and Grant House show apartment which are open seven days a week (11am to 5pm on Mondays and 10am to 5pm Tuesday to Sunday) at Exford Drive, Southampton SO18 5DN.  Alternatively, call the Lovell team on 02380 083043 to arrange a viewing. You can also visit lovellnewhomes.co.uk or download the Lovell Homes app by visiting the App Store and searching for ‘Lovell homes’.…

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Hamptons’ initiative improving service to tenants

November 5, 2015 Property News 0

Hamptons International is working on an initiative to improve services to tenants. Within the lettings industry, the focus is primarily on the landlord; after all, they are the client and the one paying the majority of the letting agent’s fee.

However, Hamptons’ initiative is to ensure that the tenant feels just as important. This stems from the principle that if the tenant is pleased with the service they receive this will result in a positive impact on the landlord.

Increasing staff awareness is key but an exciting part of this initiative is the opportunity for all new tenants to be entered into a prize draw with the chance to win a Fortnum & Mason Hamper.

Sophie Winterson, Lettings Negotiator at Hamptons’ Winchester branch explains: “All our tenants who moved into one of our properties in September were asked if they wanted to be entered into the draw.

“We were delighted to be able to contact Nina Vivash, who had recently moved into a fabulous Hampshire village home, and tell her that she had won.”

Discover more about Hamptons’ service to landlords and tenants by calling the office on 01962 853046 and speak to one of the team.…