In many ways, buying property in London is an ambitious move for anybody, at any stage of life. This is true for a number of different reasons. To begin with, London is one of the most renowned and respected cities in the entire world, which simply makes moving there a larger and more significant step. Additionally, however, with the fame and reputation of London, real estate prices in the city are often some of the costliest in Europe.

In fact, as recently as March of this year Telegraph ran an article suggesting that London property prices are proving to be almost oddly recession-proof. The article notes that in the past the shifts in prices of properties in London could serve as previews of similar shifts elsewhere in the UK. However, the London property market is so strong these days that, currently, the prices of homes are increasing in London and decreasing (or increasing at slower rates) elsewhere.

The interesting thing about this trend is that it actually makes purchasing property in London one of the stronger investments in all of real estate these days. Of course, it’s a costly investment, but if property prices keep up their current trends, your property will only continue to gain value. However, you do still need to be strategic when purchasing property, so here is a standard checklist of things to consider throughout the process.

Observe Neighbourhood – London is home to a number of beautiful, historic, and famous neighbourhoods, and rather than focusing first on a property, think first about the neighbourhoods you prefer. Your location will drastically affect the atmosphere of the property, so in many ways this is the most significant factor.

Consider Direct Surroundings – Within the neighbourhood, consider your direct surroundings as you would with any typical property purchase. Meet the prospective neighbours, decide what sort of yard you’d like, and even factor in how convenient public transportation might be.

Factor In Additional Costs – Any time you purchase property, it’s important to factor in the necessary costs that will kick in right away. From Aviva property insurance, to a home security system, and anything else needed to preserve and protect your new property, these costs may as well be attached to the price tag of the property itself.

Consider Customizations – Just as you should factor in the necessary additional costs, think also about the voluntary ones. If you love a property but want to give it a new paint job, for example, you should simply consider that maintenance to be part of the initial cost. This gives you a more accurate picture of what you’re spending.

Have A Plan – Finally, have a thorough plan for your company. If you plan on living in the property for years to come, act accordingly with maintenance and mortgage schedules. If the property is an investment, have a plan regarding how far to take it. This sort of preparation simplifies the acquisition of property.

The post Buying London property in 2013 appeared first on Buildington Blog.

The Mayor, Boris Johnson, has announced the 25 developers chosen to sit on his new land procurement panel, set up to accelerate the delivery of housing in London by making it faster, easier and cheaper for public land owners to bring forward land for development.

As a result of the transfer of assets under the Localism Act 2011 the Greater London Authority (GLA) is currently one of the largest owners of public land in London. The Mayor wants to speed up the release of this, and other publicly held land, to get more homes built for Londoners and support the capital’s economy.

The London Development Panel, set up with the support of London Councils, establishes a framework agreement between the developers involved enabling public land owners, including London’s boroughs and government bodies, to award individual contracts without having to go through a full and expensive procurement process each time – saving them time and money.

It also offers the potential for developers to build now and pay later for land on some schemes procured through the panel, making schemes more viable and generating a better return to the public purse in the long term.

This ‘one stop’ route to development is expected to see the Panel procure up to £5bn of housing led mixed-use development on public land over its four year term.

The Mayor of London Boris Johnson said: “The demand for housing in the capital is reaching unprecedented levels making the potential for development on public land far too important to ignore. The London Development Panel will act as a one-stop shop for public land owners in the capital, making it quicker, easier and cheaper for them to bring their land forward for development, increasing the number of homes being built, creating jobs and boosting the capital’s economy.“

Sir Steve Bullock, Executive Member for Housing, London Councils said: “London is in the grip of an acute housing crisis and we need to build new homes urgently. This new London ‘one stop shop’ list of potential developers means that all of the public sector will have access to a select list of carefully vetted developers in order to support the building of new homes on land owned by the public sector. Investing in housing not only helps tackle the current shortage of affordable homes, but also creates jobs and stimulates growth.”

The developers selected are (click on the name to open company profile on Buildington):

1. Affinity Sutton Homes Ltd
2. Ardmore First Base Partnership Limited
3. BDW Trading Ltd
4. Bellway Homes Limited
5. Bouygues Leadbitter Consortium
6. Carillion-igloo and Genesis
7. Catalyst Housing Limited
8. Countryside Properties (UK) Limited
9. Family Mosaic & Mulalley
10. Galliford Try PLC
11. Hadley Mace Holdings Ltd
12. Higgins Group PLC
13. Kier Limited
14. Lend Lease Europe Holdings Limited
15. London & Quadrant Housing Trust
16. Lovell Partnerships
17. Notting Hill Housing
18. Places for People Homes Limited
19. Redrow Homes Ltd
20. Regenter Limited
21. Rydon Construction Limited
22. Taylor Wimpey UK Ltd
23. The Berkeley Group PLC
24. Telford Homes Plc
25. Wates Construction Ltd

Following a pre-qualification exercise, applicants for the London Development Panel were invited to submit a tender response, which included a requirement to provide proposals for a hypothetical land disposal opportunity. The twenty-five tenderers offering the most economically advantageous tenders were selected as panel members.

The London Development Panel has been procured for a four-year period commencing in April 2013.

The post Mayor of London announces new housing panel appeared first on Buildington Blog.

Property auctions taking place in London in May 2013:

8. May 2013 | Savills
Click here for the auction catalogue.

9. May 2013 | Barnet Ross
Click here for the auction catalogue.

21. May 2013 | Allsop Commercial
Click here for the auction catalogue

22. May 2013 | CBRE Commercial
Click here for the auction catalogue

28. May 2013 | Barnard Marcus
Click here for the auction catalogue

29. May 2013 | Allsop Residential
Click here for the auction catalogue

30. May 2013 | Allsop Residential
Click here for the auction catalogue

Past auctions >>

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Royal Institution of Chartered Surveyors RICS has published a new edition of the best practice guide for the auction practitioner in England and Wales which is a must-read for every first time buyer and seller. The publication offers guidance on what buyers and sellers can expect from their auctioneer.

Download the the guide here.

The post A must-read for every London property auction buyer and seller appeared first on Buildington Blog.

Property auctions taking place in London in March 2013:

19. March 2013 | Allsop Commercial
Click here for the auction catalogue

20. March 2013 | Strettons
Click here for the auction catalogue

25. March 2013 | Savills
Click here for the auction catalogue.

Past auctions >>

The post London property auctions in March 2013 appeared first on Buildington Blog.

Property auctions taking place in London in February 2013 -

5. February 2013 | Allsop Commercial
Click here for the auction catalogue

6. February 2013 | Barnard Marcus
Click here for the auction catalogue.

6. February 2013 | Strettons
Click here for the auction catalogue.

11. February 2013 | Savills
Click here for the auction catalogue.

14. February 2013 | Allsop Residential
Click here for the auction catalogue

19. February 2013 | Andrews & Robertson
Click here to see the auction catalogue

27. February 2013 | Auction House London
Click here for the auction catalogue

27. February | CBRE Commercial
Click here to see the auction catalogue

CBRE Auction update
Passionate bidding pushed prices beyond expectations at CBRE’s latest auction on 27th February, sending final bids on a rarely available freehold office building in the City of London to £3.575m, reflecting a net yield of 3%.

Interest in 2 Devonshire Square and 2 Cavendish Court, London EC2 (Lot 9), was intense prior to the auction with over 50 interested parties, both from the UK and overseas, viewing and investigating the opportunity within the auction marketing period. The property provided over 6,000 sq ft of multi-let offices at a current rental of £116,408pa with imminent reversions and future potential to convert to residential use, subject to consents.

By the time it went under the hammer at The Millennium Hotel, Mayfair, London W1, there was an immense depth of bidding, driven by its location and scarcity value, situated just yards from Heron Tower and The Gherkin.

John Townsend, Head of Auctions, said: “I took 63 consecutive bids in £25,000 increments and the pace of bidding was rapid. This particular sale underlines the huge confidence present in the market where private investors are chasing trophy assets to add to their portfolios, especially in Central London, where they seldom get the opportunity to compete.

Investors loved the transparency of the auction room. We succeeded in generating enormous interest by capitalising on our extensive network at CBRE and our UK and overseas buyers list, as well as drawing on the in-depth knowledge from our City office.

We now have a list of about 50 disappointed investors who missed out on this asset who are seeking similar stock, so we’re keen to unveil more of the same for our 22nd May sale.

This sale further helps dispel the myth that auctions should only be used for selling secondary and tertiary property. For the right product, an auction will attract a huge target audience which will drive pricing and this was evident here.”

Revenues have so far reached £16.4m from the sale and Townsend added: “We are receiving considerable post sale interest which will push revenues up further. Investors are buying where they see opportunity for active asset management in the ‘here and now’, as much as for the long term value of their stock. “

Other highlights of the sale included:

• A portfolio of trade counter investments offered on behalf of Wolseley, in regional locations including Christchurch in Dorset, Salford and Scarborough. All these investments sold for between £154,000 and £445,000 with net yields ranging between 7.5% and 9.8%.
• A prime freehold bank investment let to HSBC in Cheapside, Wood Green, London N22 with just two years to a tenant’s option to break and four years to the end of the lease, sold prior to auction. Expected to achieve between £1.4m/£1.5m, it sold for a net yield of just over 6%.
• A convenience store in Chichester, West Sussex, let to Southern Co-Operatives Limited at a rent of £65,000pa until 2028 also sold prior. This pub conversion was let with the upper parts sold off on a long lease and sold for a net yield reflecting just over 6%, a price significantly in excess of the target price of £900,000/£925,000.
• A substantial vacant office building located on an established business park in Telford comprising over 85,000 sq ft, was offered with a disclosed reserve of no higher than £450,000. The property sold in the room for £530,000, reflecting a capital value of about £6 per square foot.
• A 12,200 sq ft multi-let office building in Harrow was offered on behalf of Joint LPA Receivers. Let at £99,719pa, it sold in the room for £797,000 reflecting a net yield of 11.8% and £65 psf Capital Value.
• A motor trade and car showroom investment in Newport, Gwent, let to Pendragon Property Holdings Limited until 2021 at a rent of £152,740pa, sold prior to auction for a net yield in the region of 9%.
• A prime freehold retail investment in Felixstowe let to New Look until 2023 at a rent of £57,500pa, sold for £592,000, reflecting a net yield of 9.1%.

Past auctions >>

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Property auctions taking place in London this month -

11. December | Strettons
Click here for the catalogue.

13. December 2012 | Barnett Ross
Click here for the catalogue.

14. December 2012 | Countrywide
Click here for the catalogue.

17. December 2012 | Andrews & Robertson
Click here to see the auction catalogue

18. December 2012 | Allsop Residential
Click here for the auction catalogue

18. December 2012 | Auction House London
Click here for the auction catalogue

19. December 2012 | Barnard Marcus
Click here for the auction catalogue.

Past auctions >>

The post London property auctions in December 2012 appeared first on Buildington Blog.

Here is the list of most popular London buildings on Buildington during week 45 (5. November – 11. November 2012).

1/6 ▲ Ludgate House Blackfriars Road, London SE1 (photo)
2/1 ▼ Dudley House Park Lane W1
3/2 ▼ Rolls Building Fetter Lane EC4
4/- ▲ 138-142 Queensway Queensway W2
5/3 ▼ London Phoenix Centre Phoenix Place
6/5 ▼ Palestra Blackfriars Road SE1
7/7 = Battleship Building Harrow Road W2
8/4 ▼ 5 Merchant Square Merchant Square W2
9/15 ▲ International House St Katharine’s Way E1
10/13 ▲ Tresco House Lisson Grove NW1
11/9 ▼ Diageo HQ Lakeside Drive NW10
12/11 ▼ Field House Bream’s Buildings EC4
13/ – ▲ Eland House Bressenden Place SW1
14/20 ▲ The Point North Wharf Road W2
15/14 ▼ Savoy Strand WC2
16/16 = Ropemaker Place Ropemaker Street EC2
17/8 ▼ Old Marylebone Town Hall Marylebone Road W1
18/10 ▼ Newcombe House Notting Hill Gate W11
19/- ▲ Horseferry House Horseferry Road, London SW1
20/- ★ Harcourt House Cavendish Square, Marylebone W1
21/- ★ One Churchill Place London E14
22/21 ▼ Moor House London Wall EC2
23/- ▲ Holland House Bury Street EC3
24/- ▲ 7 More London More London Riverside SE1
25/- ▲ Ensign House Juniper Drive SW18

Signs explained:
▲ Up from last week
▼ Down from last week
- Was not on the list last week
★ First time in top 25

Check rankings for previous weeks

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There are currently more than 2600 London UK buildings on Buildington! Start browsing London buildings by postcode.

The post Most popular London buildings 2012 week 45 appeared first on Buildington Blog.

Let’s take a quick look at the new projects that were most viewed in Buildington during October 2012.

De Vere Gardens development in May 2012

1. De Vere Gardens De Vere Gardens, Kensington, London W8
Type: leisure, residential
Completion: 2014
Developer: De Vere Estates
Architect: David Chipperfield Architects
Main Contractor: Sir Robert McAlpine
Buildington page: De Vere Gardens

Park House in October 2012

2. Park House Oxford Street, Mayfair, London W1
Type: retail, offices, residential
Completion: November 2012
Developer: Land Securities
Architect: Robin Partington Architects
Main Contractor: Mace
Buildington page: Park House

The Atrium development in September 2012

3. The Atrium Park Road, St John’s Wood, London NW8
Type: residential
Completion: 2013
Developer: Profin
Architect: PDD Architects
Main Contractor: Shepherd Construction
Agents: Ashton Chase
Buildington page: The Atrium

Screen capture of The Textile Building website at www.thetextilebuilding.com

4. The Textile Building 29-53 Chatham Place, London E9 6PE
Type: residential
Completion: forthcoming
Developer: Aitch Group
Sales: Stirling Ackroyd
Buildington profile: The Textile Building

Screen capture of Henry Moore Court image gallery at www.henrymoorecourt.co.uk

5. Henry Moore Court Manresa Road, Chelsea, London SW3
Type: residential
Completion: Autumn 2012
Developer: Carlyle Group, Athos Group
Architect: Hamiltons Architects
Main Contractor: Galliford Try
Agents: Aylesford
Buildington page: Henry Moore Court

Fitzroy Place construction site in June 2012

6. Fitzroy Place Mortimer Street, Fitzrovia, London W1
Type: mixed use
Completion: 2014
Developer: Exemplar Properties, Aviva
Architect: Lifschutz Davidson Sandilands
Main Contractor: McGee
Agents: CB Richard Ellis, Savills
Buildington page: Fitzroy Place

Screen capture of the website for Sixty London at www.sixtylondon.co.uk

7. Sixty London Holborn Viaduct, London EC1
Type: offices
Completion: Summer 2013
Developer: Axa Real Estate
Architect: Kohn Pedersen Fox Associates
Main Contractor: Balfour Beatty
Agents: CBRE
Buildington page: Sixty London

Screen capture of Fitzrovia Apartments website in November 2012 www.fitzroviaapartments.co.uk

8. Fitzrovia Apartments 50 Bolsover Street, Fitzrovia, London W1
Type: mixed use
Completion: 2012
Developer: Manhattan Loft Corporation, Ridgeford Properties
Architect: Make Architects
Main Contractor: John Sisk & Son
Agents: Druce, Knight Frank
Buildington page: Fitzrovia Apartments

Quadrant 3 in January 2012

9. Quadrant 3 Glasshouse Street, Soho, London W1
Type: retail, offices, residential
Completion: November 2011, opened 2012
Developer: Crown Estate
Architect: Dixon Jones
Main Contractor: Sir Robert McAlpine
Agents: CBRE
Buildington page: Quadrant 3

St James's Gateway development in June 2012

7. St James’s Gateway Piccadilly W1
Type: mixed use
Completion: 2013
Developer: Stanhope
Architect: Eric Parry Architects
Main Contractor: Lend Lease
Buildington page: St James’s Gateway

See also: Top 10 New Property Developments in London archive
More London Developments: Browse all the New Developments in London.

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The post Top 10 new property developments in London October 2012 appeared first on Buildington Blog.

1. Savills 25 properties in Buildington (sales, lettings)
2. Nash Bond 7 properties in Buildington (sales, lettings)
3. CBRE 24 properties in Buildington (sales, lettings)
4. De Vere Estates 1 property in Buildington (development)
5. Athos Group 1 property in Buildington (development)
6. Jones Lang La Salle 25 Properties in Buildington (sales, lettings)
7. Pantelli Associates 1 property in Buildington (development)
8. Ridgeford 1 property in Buildington (development)
9. Derwent London 14 properties in Buildington (development)
10. Manhattan Loft Corporation 4 properties in Buildington (development)

Click here to see all the London property companies in Buildington.

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The post Top 10 London property companies October 2012 appeared first on Buildington Blog.