Paul Rickard

Very interesting market for us right now - Six enquiries this week alone for properties to start as holiday let’s from 2025, all in Falmouth. One has already signed, waiting for one to come back, two viewings arranged Monday. Two were not suitable for our portfolio - best not to take on ones where the fit is not quite right and the property is not to the standard we aim for. Previously used as family homes only, the second home council tax premium and other rising costs, has pushed people to make the houses now pay for themselves. From the outset clients are made aware of our strict health and safety criteria, and very honest conversations are had about rates, initial cost outlays and future legislation to come. This knowledge instantly instills a level of trust and security for clients, feel secure that they aren’t being dubbed into ridiculous and unacheiveable returns, and their property is in safe hands. In all honesty I felt business might ‘stay still’ for the coming months, and wasn’t sure we would have much growth. Our own personal churn rate is steady, which I put down to carefully chosen properties and clients. Despite two children with sickness bugs it’s still been a productive week! #cornwall #holidayhomes #tourism #selfcatering

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Straightforward Property Finance 👍 Speak to us about your next purchase / project Property finance shouldn’t be complicated PMJ Capital Lee Barton Keiran Holmes

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The Acorn Portfolio Product has now gone in to overfunding. If you're a qualifying investor, don't miss out on this fantastic investment opportunity, get in touch with me to find out more. #acornpropertyinvest #acornpropertygroup #propertyinvestments #investors

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Really looking forward to the #propertyinvestorshow. If you're keen on exploring the UK property market from a unique perspective while earning either regular income or capital growth, visit us between tomorrow & the end of Saturday at stand 222 at the ExCeL London. Looking forward to seeing you there. #propertyinvestments #propertyinvesting #investors #investments #propertymarket

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Interesting piece on the Real Estate Investment Trusts (Reits) to 'keep an eye on' when rates are cut: https://lnkd.in/eJVQFFhN #valentinethomas #investmentmanagement #investmenttrust #reit

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Leasehold and Freehold Reform Act 2024 UPDATE Following the introduction of The Leasehold and Freehold Reform Bill on 27 November 2023, the Leasehold and Freehold Reform Act 2024 was given Royal Assent on 24 May 2024. The legislation excludes provisions to cap existing ground rents (aside from within the valuation calculation as noted below) but this may be introduced in future legislation by a new Government. The most relevant changes introduced by the Act are summarised as follows: Marriage value – the requirement to pay this has been removed which will result in premiums for leases with under 80 years unexpired being much lower; Deferment and Capitalisation rates are to be prescribed by the Secretary of State, and reviewed every 5-10 years; Ground rents when calculating lease extension and enfranchisement premiums – where the ground rent is in excess of 0.1% of the capital value of the premises, the amount of ground rent capitalised will be capped at 0.1% of the FHVP value;   Note: This is only for the purpose of calculating the price for of extending a lease or buying the freehold. Lease extension length – this is increased from 90 years to 990 years; The qualifying 2 year period of ownership for lease extension and house claims has been removed; Landlord’s costs will no longer be recoverable from the leaseholder, except in low value claims; In buildings with non-residential parts – the permitted commercial property element has been increased from 25% to 50% of floor area bringing more buildings within the scope of enfranchisement rights; and Process improvements – freeholders can now be forced to retain any non-participant flats or commercial areas, again increasing the opportunity for leaseholders to make a collective. If you would like to discuss this further please do not hesitate to get in touch with us. #cbre #cbreresidential #cbreliving

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This should be compulsory reading for anyone sitting on a Planning Committee or involved in policy-making. Brilliant analysis which sets out why we: 1) desperately need to reform our broken planning system; and 2) ensure we reform it in the right way. If we can reduce risk in the planning process, we would increase investment into housing.👇👇

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Whilst it’s positive to see the Bank of England have cut interest rates, it's still too little and is stifling growth. The case for further reductions is clear to see. Millions of homeowners are facing higher borrowing costs, with many on fixed rate deals that expire soon, increasing their monthly repayments by hundreds of pounds. This is also stifling the wider housing market and reducing the numbers of new homes that are being built, despite this being at a time of a housing crisis. I’ve been making the case for this for months, including this article in Inside Housing: https://lnkd.in/eP7pK_GZ

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Excited to connect with clients and colleagues at IBM Think London this Tuesday! There’s a lot happening. Emily Ransley and I are looking forward to sharing cross-industry insights on the foundational role of data in driving business and AI strategy, including: 📈 How to assess, benchmark and improve data maturity across your organisation 🔍 The critical role of data governance in modern enterprises Join us for a conversation on how to leverage data to unlock innovation and growth! More info and the agenda available here: https://lnkd.in/eUH6S4f3 #IBMThink #DataGovernance #DataMaturity #AIstrategy #DigitalTransformation

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Enjoyed sharing my thoughts with BTR News on the evolution of BtR investment in the UK. Do get in touch if you want to discuss or are seeking advice on investing in the sector. Gerald Eve Capital Markets

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Are you a provider of shared ownership, or anyone who advises or deals with shared ownership property? 🏠 If so, take note of the latest changes to the Capital Funding Guide ⬇️ 🗝️ The key takeaway: - revised affordability guidance has been published in a new Section 6B - previous affordability guidance remains in place under Section 6A during the transition period - full implementation of the revised guidance will take place by end of July 2024 If you want to know how this might affect you, I’m always ready to chat 📞 Foot Anstey LLP Women in Residential Property Justine Parsons Jacqueline Goodwin #sharedownership #plotsales

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Citu and USRF tie up £200m partnership CITU The sustainability-led firm has signed a memorandum of understanding with Urban Splash Residential Fund and SURE Capital Partners, covering an initial 600 homes across its development portfolio. The partnership marks an important marker in Citu’s growth plan to bring “sustainable, future facing places and homes can be accessible for all” forward across Yorkshire. This is USRF’s second partnership, following a similar agreement with Urban Splash. The MoU covers 600 homes with opportunity to grow, and includes an initial purchase of 52 Citu homes within Leeds’ Climate Innovation District, and at Kelham Central, Sheffield. Yorkshire-born Citu creates homes that work to Passivhaus principles, making them approximately 75% more energy efficient than a traditional home in the UK. The firm manufactures its buildings in its Yorkshire factory. Jonathan Wilson, managing director at Citu, said: “This partnership marks a significant step forward for Citu, and we are delighted to have found an aligned partner with the right expertise and ambitions to join us on this journey. The partners said the deal will help SME Citu further expand its reach while giving USRF the opportunity to offer sustainable living solutions to families across the county. The move diversifies USRF’s portfolio, adding single-family homes to its offering, as well as expanding its footprint in Yorkshire following its acquisition of East Street Mills in Leeds last year. Akeel Malik, partner at SURE Capital explained: “This deal connects capital with regeneration, allowing us to play a pivotal role in creating vibrant new neighbourhoods. Leeds and Sheffield are exciting, transformative cities where people want to live, work, and play, and we’re proud to help drive that change. “Our mission is to cultivate a portfolio of design-led homes for renters – an approach that aligns perfectly with Citu. We have found the ideal product in their award-winning homes and communities.” SURE (Sustainable Urban Real Estate) Capital Partners is an entity set up to connect capital with “best in class” Developers. Urban Splash chair Tom Bloxham is a partner. He said: “SURE has investors ready to commit to design-led homes. It’s a concept that’s been proven with Urban Splash and now with Citu. “I have long been an admirer of the regeneration work undertaken by Chris and Jonathan and team at Citu and was very pleased to see this deal close. This is another example of how SURE Capital is bringing UK and international institutional capital to work supporting the very best UK SME developers like CITU, Urban Splash and Javelin Block – with whom we completed a deal last year in Birmingham. “This deal will both bring good returns to our investors and help fund much needed new sustainable homes and regeneration in UK regions.”

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Tickets on sale now for the Place North West #Offices and #Workspace conference. Developers are rethinking their portfolios and development pipelines as the office sector undergoes a revolution in employment patterns accelerated by technology and the pandemic. The flight to quality might work for some property companies for now, but what will happen to the large quantities of secondary space left behind – will they ever be let again as offices? Hear how to refresh your office stock and maintain the right market position. How can North West office developers rethink their strategies to embrace the occupier experience demanded right now and deliver greener, healthier offices into the market in the right places at the right time? Speakers confirmed: Dominic Brankin, property director, Government Property Agency Sabine Dunstan, development manager, Capital&Centric Danielle Adler, senior workplace consultant, TSK Group Aidan Thatcher, director of place, Wigan Council Helen Hodgkinson, chief people officer, TLT LLP Jay Patel, director – planning North, Savills Dan Podesta, associate director, Civic Engineers Joe Rigby, managing director – North, CBRE Lee Treanor, director, HBD Philip Scott, fund manager & head of manchester, Schroders Capital

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A welcomed change as the UK government is reintroducing plans for rental properties to achieve an EPC rating of C by 2030. This change, spearheaded by Ed Miliband, reverses the previous government's decision to abandon the EPC C target by 2025. The initiative aims to enhance energy efficiency across the private rental sector, aligning with broader environmental goals and reducing energy costs for tenants. #Sustainability #EnergyEfficiency #EPC #GreenHousing #NetZero #Retrofit https://lnkd.in/eijGwJyj

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Our view of the first quarter BTR market is now live. A few key highlights: - UK BTR investment hit £1.3 billion in Q1 2024, up 21% year-on-year and the strongest first quarter on record. - Investors continued to up their exposure to different subsectors, with Co-living accounting for 20% of deals by value. - Investment into London has bounced back, with 52% of Q1 BTR investment flowing into the capital, compared with 23% in 2023. Viability challenges are easing and a softening in yields has given investors more confidence on pricing and return metrics - There are 110k complete BTR homes in the UK, accounting for just 1.9% of the private rented sector. Projected population growth means the sector has a challenge on it's hands to increase this percentage. The annual pace of delivery of BTR homes would have to double from 14k per annum to 28k per annum to reach 5% market penetration by 2030, equating to 300k complete homes. - Build cost inflation has been moderating, down to 3.1% in 2023, from a peak of 15.5% in 2022, according to BCIS. Inflation in material and labour costs is likely to be close to zero for the next year or so, which will support viability and reduce pressure on margins. - Annual BTR rents rose by 4.7% in the to February 2024, which reflects a return to more sustainable levels of rental growth following the peak of 15.4% in 2022. Download and get stuck in to the full report here: https://lnkd.in/eY_YvRgV

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