New UK SDLT (Stamp Duty Land Tax) Rates from Midnight 3rd December 2014

lease see Hamptons International Research Document for Full Details. An excerpt from the report in summary:

The Chancellor has abolished the old slab structure of Stamp Duty. This is good news for the operation and efficiency of the overall housing market. The number of transactions are the real signal of the health of the housing market not the pace of growth of house prices. This move should help to increase transaction activity, allow people to move more easily and with a lower financial burden. This will help the labour market and the economy more widely too. 

The new rates are: 

  • 0-£125K – 0%
  • £125-250K – 2%
  • £250- 925K – 5%
  • £1.5m – 10%
  • >£1.5m- 12%

    These rates are only paid on the value of the property within the threshold ranges so a property valued at £200k for example only pays stamp duty on £75K at 2% rather than on the whole £200K under the old regime.

Maidenhead’s potential recognised as town scoops Town of the Year award

Maidenhead has scooped the very first Town of the Year trophy in the inaugural Thames Valley Property Awards
The award – which recognises the town’s potential and what is being done to achieve it – was presented at a gala evening at Ascot Racecourse last night (Thursday 8 May).Cllr MJ Saunders, cabinet member for planning and property, corporate transformation and Maidenhead, collected the business award along with Bob Dulson, chairman of PRoM (the Partnership for the Rejuvenation of Maidenhead).

Cllr Saunders said: “This award is a ringing endorsement of the tremendous results being achieved by a dedicated group of people, both within and outside of the council, to achieve Maidenhead’s potential and provide our residents with the town they want.

“The award is about what a town can be, and what is being done to achieve that. Through PRoM we have developed a robust strategy for achieving a vibrant town centre and already have a number of developments under way.

“We’re already attracting a good level of interest from potential investors and this award should stimulate that further.”

Some of the initiatives that helped Maidenhead take first place are:
• Broadway opportunity area – architects were recently selected by Ryger Maidenhead Ltd to create a quality community of homes, restaurants, shops and offices

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• Waterways – progress is already being made on restoring neglected town centre channels into a living ring for boating, walking, cycling, fishing or simply enjoying nature
• Chapel Arches – a planning application is in from the Shanly Group for the first of three phases to offer attractive urban, waterside accommodation
• York Road – a feasibility study has been approved for a vibrant civic and cultural area, blended with new homes and businesses.

Bob Dulson, chairman of PRoM, when quizzed by host Jeremy Vine about why Maidenhead deserved the award, said: “It recognises seven years hard work by a lot of people, under the auspices of the Royal Borough and PRoM, preparing a plan for the most exciting regeneration of Maidenhead in its history – and this year looks set to become our turning point.”

He later added: “The award is a credit to the host of people involved, many of them unpaid – elected members, officers, amenity groups, stakeholders, local businesses, the Thames Valley Local Enterprise Partnership and of course members of the public who all give their time, energy, commitment and skills.”

The awards – the first of their kind for the region’s commercial property sector – are a joint venture between The Business Magazine and UK Property Forums.

Barton Willmore sponsored the Town of the Year trophy and the runner-up was Wokingham.

Prime Central London Sales Index – November 2014

Knight Frank’s Prime Central London Sales Index has tracked the performance of London’s luxury property market since 1976. Compiled monthly, the index is based on the valuation of a comprehensive basket of properties throughout our central London office network and is based on actual sales evidence.

See more at: http://www.knightfrank.com/research/prime-central-london-sales-index-2530.aspx#sthash.2lrhfbt8.dpuf

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MAYOR AWARDS OVER £28 MILLION TO TRANSFORM AREAS AROUND CROSSRAIL STATIONS

  • TfL funding will support schemes outside Crossrail stations in outer London
  • Money will help local boroughs improve public spaces and make journeys better for pedestrians, cyclists and public transport users

The Mayor has awarded over £28 million to outer London boroughs in order for them to transform the public spaces around Crossrail stations. The TfL funding will support local borough-led projects at seventeen stations in Greater London and will help cut crime, improve road safety and make areas more pleasant for millions of passengers.

 

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Improvements will include:

  • Creating safe and secure walking and cycling routes and facilities;
  • Developing seamless interchanges with local bus networks and taxis;
  • Making improvements to the public realm and streets, on station forecourts and adjacent roads;
  • Improving lighting in the surrounding areas in order to reduce crime

The improvements will be made by 2019, and will follow a hugerange of other benefits that customers will experience when TfL takes over services between Liverpool Street and Shenfield from 31 May next year, ahead of Crossrail arriving.

Customers on all of the new TfL-run rail services will benefit fromimprovements, including staff at every station at all times that trains are running, better accessibility provision, including a turn up and go service for anyone needing ramps onto trains, full integration with TfL fares and ticketing and a more reliable service.

The Mayor of London, Boris Johnson, said: “It is hard to believe how far Crossrail has come; it has moved forward at an astounding pace. Now the key construction is well underway it is only right that we turn our attention to the areas around the stations. This funding will help boroughs complete a wealth of improvements in order to make travel safer and more pleasant for hundreds of thousands of Londoners.”

Leon Daniels, TfL’s Managing Director of Surface Transport, said: “TfL-run Crossrail will revolutionise travel across London, cutting journey times for millions, easing crowding and transforming access for disabled Londoners. As we do this, it is also important to make local improvements around our stations, making it easier for passengers to use or interchange with Crossrail services, whether they have arrived by rail, bus, foot or bike. This funding will do that – transforming public spaces for the benefit of everyone.”

TfL-run Crossrail will carry over 200 million passengers a year, boosting London’s rail-based capacity by 10 per cent, easing crowding and providing faster journey times. It will help London keep pace with a rapidly growing population and will support new jobs and economic growth.

Crossrail is the first transport project to deliver integrated designs with three elements in mind, including the station, above the station, and improved public spaces that surround them. These have been designed in close partnership between TfL, local authorities, Network Rail and Crossrail Limited.

London’s Leading Areas for Wealthy International Buyers

With the final apartments being sold at luxury development The Lancasters for somewhere in the region of £16million, Bayswater has firmly established itself as a property area where rich overseas buyers are drawn to. 

The north side of Hyde Park is currently in the process of a complete transformation, and has been earmarked by many wealthy overseas buyers as the place to invest in. Properties in Bayswater are, in the main, striking grand Georgian terraces although they have mostly been subdivided into upscale apartments to rent or buy. Although there are a few properties in need of a little TLC, on the whole, recent sensitive redevelopments have replaced this with a level of refitting and luxury that you would be hard pressed to find anywhere else in London, making this part of the Capital prime for investment.

Henry Sanderson Homes are a property refurbishment and interior design business, primarily focused on the redevelopment and refurbishment of luxury apartments in Bayswater. The company provides a complete package for landlords, many of which are overseas, so tenants can move into the property with just their toothbrush and a suitcase of clothes if they so choose. 

“The Lancasters has certainly helped to draw interest from overseas investors into this area as a whole, which in turn is pushing up rental yields,” says Tim Wilson, CEO of Henry Sanderson Homes. “Most of the clients we deal with are from the Middle East, who are wanting to secure a slice of the lucrative property market in London, and have earmarked Bayswater as an area to watch.”

In fact, Bayswater is fast becoming London’s worst-kept secret in terms of property hot spots and with its central location and elegant homes, finding properties in this elite neighborhood is becoming harder and harder.

“Finding the right sort of property to refurbish and securing it at the right price is something that we have developed a reputation for,” says Wilson. “Clients like to know that we can help them with every aspect of the property, from changing the layout to maximise on every available inch of space to helping the negotiations to acquire the freehold.”

Wilson adds that the overwhelming majority of buyers like to keep hold of these properties to rent out, which is why they offer a full interior design solution, providing everything that potential tenants need. “So for the landlord many miles away, they can be assured that their properties are completely tenant ready and will provide luxurious living with the daily essentials of life,” Wilson says.