l r, or ca e o lo ap r d ur y p ou Yo ert to y op d pr ere liv de
London & Southern Edition
April 2015
GARDENS P26 INTERIORS P29 PROPERTY INVESTMENT P51 AUCTIONS P61 MORTGAGES P62
Gee-gee whizz!
Our pick of the best equestrian homes P6
The hidden cost of buying a home P3
Help to Buy ISAs –
first-time buyers’ Budget boost P50
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ELLERTON ROAD, WIMBLEDON GUIDE PRICE £6,950,000
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hidden cost of buying a home 3
The hidden cost of buying a home T
Welcome! T
D
e spite the success of the Help to Buy scheme and the hope surrounding the recent announcement of a Help to Buy ISA, finance still remains a significant barrier to prospective homeowners hoping
to step on to the ladder. Many buyers, be they first- or second-time purchasers, find themselves pushed to their financial limits in their attempts to purchase a home. Unfortunately, this can sometimes lead to buyers overlooking the range of extra costs involved beyond
the purchase price. In total, these costs could add anything up to 10% to your total bill, so they need to be carefully factored in to your budget in advance. Here’s our guide to understanding some of the biggest hidden costs of buying a home.
STAMP DUTY
to enlist the help of some friends to help you out. Moving your belongings long distances between family homes, however, is more complicated. Hiring a professional removals firm can cost from a few hundred pounds to well over £1,000 depending on your circumstances, so ensure you shop around to get the best deal.
Stamp duty is a tax charged on all property purchases over £125,000, and is usually the largest additional extra expense to consider when purchasing a home. Last December, Chancellor George Osborne announced an overhaul of the stamp duty system, putting an end to the ‘slab’ method where fixed amounts of tax were charged at certain thresholds. Under the new system, a buyer purchasing a family home for £275,000 will save £4,500, but will still be faced with a bill of £3,750.
FURNITURE AND WHITE GOODS
CONVEYANCING Conveyancing is the legal process of buying and selling a property, and includes registering the transaction with the Land Registry and conducting searches. Quotes vary significantly, with online conveyancers offering packages from around £700 for a £250,000 property. Solicitors also offer deals, but tend to be more expensive.
SURVEYS Surveys help you learn about the condition of building, and alert you to any significant problems which may
make it necessary to renegotiate the purchase price or pull out altogether. There are three main types of survey – a condition report, homebuyer’s report and a buildings survey. A condition report will cost you around £150-£300, while a buildings survey is generally priced in the region of £500-£1,000.
lenders to set up the mortgage. These fees vary significantly, and can average around £1,000. You can usually choose between paying this fee upfront or adding it to the mortgage. Some lenders charge a percentage of the loan rather than a flat cost, so it is vital to assess all of your options.
MORTGAGE ARRANGEMENT FEES
REMOVALS
An arrangement fee is paid to your
If you’re moving down the road from your current home, you may be able
You’ve bought the house, and now you need to fill it. Ensure that you know which white goods (if any) you will need to purchase, as these can eat up a sizable chunk of your budget.
REDECORATING Keep some cash aside for any unexpected repairs and improvements, as very few homes need no work at all. Indeed, most new homeowners spend significantly more than they initially plan on doing up their new property, so don’t stretch yourself to the absolute financial limit before you move in.
EXPERT ADVICE solicitor recommended by the estate agent you found your home through. They often get a hefty commission that can add significantly to your bill. By all means get a quote, but use it to shop around before deciding.”
The HomeOwners Alliance exists to make home owning less stressful, helping people save money with unbiased expert advice. Here, their chief executive Paula Higgins shares her top tips on saving money during a move. Beware estate agent recommendations “Don’t rely on a conveyancer or
Don’t move on a Friday “Moving on a Friday is typically more expensive as it is the most popular day to move. You may be able to save money on your move by being more flexible on the day.” Leasehold vs Freehold “It may seem like technical legal language, but there are few things more important – and potentially costly – about your home than whether it is freehold or leasehold. Less than 80 years left on a lease
means extensions will be costly and homes much more difficult to sell. “Even if you’re buying a property with a long lease, remember maintenance fees and ground rent charges are a major source of contention – ground rent alone usually costs in the region of £100-£250 a year, but even on ordinary flats the annual charges can amount to over £1000.” Mortgage costs: repayments, restrictions and fees “While interest rates are low it’s always worth doing a stress test using an online calculator to see what impact an increase in interest rates would have on your ability to meet repayments. If you’re over 45
or have childcare commitments, the new lending restrictions applied since last April may mean you struggle to find a lender or can borrow a lot less than you expected. As all lenders apply different matrices for calculating affordability, we advise people use a fee-free mortgage broker to find the lender that suits them.” “And watch out for fees – but don’t rule them out completely. Lenders offer a wide spectrum of rate options, all with different fees and incentives. Where one borrower may benefit from paying a fee, others will be better to cut upfront costs and pay a slightly higher interest rate.”
Find out more at www.hoa.org.uk
ough he didn’t quite h live up to his preBudget “no giveaways, no gimmicks” promise, George Osborne’s introduction of the Help to Buy ISA was a bit of a surprise and one that has been broadly welcomed in the property industry. It’s a novel way to reward saving for a deposit on a home that, handin-hand with the government’s start home policy, promises a substantial amount of help for first-time buyers over the coming years. It’s generally agreed that first-timers are the engine of the housing market and any measures to assist in meeting the high deposit requirements of buying a home these days is to be applauded. But unless there’s a major hike in the number of homes being built in the UK, that assistance is only going to be of limited use. First-timers are often competing with investors for homes at the lower end of the market and it is the investors who usually hold the upper hand in terms of cash availability and the opportunity to move quickly when a home comes on the market. While many industry insiders don’t believe there will be a huge surge in buy-to-let when the new pension reforms some into effect on 6 April, there is no doubt that some of those people who will be able to get full access to their pension pots will be looking at property as a lucrative alternative income source to a traditional annuity, or indeed other types of investment. Reports from agents and mortgage lenders show that buyto-let has boomed in recent months, so unless we can construct a significantly greater number of affordable starter homes (if necessary, restricted for sale to young owner-occupiers), there will continue to be pressure on the smaller homes that most first-timers aspire to. Unfortunately, while politicians talk of doubling the number of homes we build and forcing developers to build rather than pace the use of the land they have, the industry itself is rather more sceptical about how quickly these promises can be delivered. Shortages of materials and skilled labour are putting the brakes on housebuilding just as government is pressing on the accelerator. Do any of those asking for your vote in mid-May have a plan for tackling that?
Keith Keith Osborne, editor. ko@whathouse.com @keithosborne69
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Rupert Bates, editorial director of WhatHouse? has been a property journalist for 25 years. He is an award-winning writer who started on local newspapers before becoming a columnist on The Daily Telegraph. He presents the annual What House? Awards, edits leading housebuilding magazine Show House and is property correspondent of The Field magazine.
Managing director Daniel Hill Editorial director Rupert Bates
Keith Osborne started writing about property 12 years ago and has been editor of Whathouse. com since 2010. He is currently a columnist in housebuilding trade magazine Show House and has previously written for Homes Overseas magazine. He has also been a part of the What House? Awards judging panel for a number of years.
Sales director (new homes) Mark Edmondson me@whathouse.com
Stephen Maunder is assistant editor of Whathouse.com, having previously spent 18 months there as a freelance special correspondent. He has a background in academic research and has worked at Sky News as a picture researcher. He has also written for BBC News, Huffington Post UK and the Shropshire Star newspaper. What House?
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Editor Keith Osborne ko@whathouse.com Assistant editor Stephen Maunder sm@whathouse.com Chief sub-editor Suzanne Frost Designer Sarah Davies Contributors Marc Da Silva Nick Parkhouse Richenda Oldham
Head of Sales (London) Andy Lunn al@whathouse.com Sales manager Jay Ali ja@whathouse.com Business development manager Steve Coyle sc@whathouse.com Account manager Ann Chaloner ac@whathouse.com Head of digital Simon Phillips simon@whathouse.com Cover picture: Hill Top House, Beaulieu, Hampshire courtesy of John D Wood, 01590 677233 Published by: Globespan Media Limited, 291-299 Borough High Street, London SE1 1JG T: 020 7940 1070 E: info@globespanmedia.com W: www.whathouse.com Printed by 39zero / Distributed by Royal Mail © 2015 Globespan Media Limited WhatHouse?, ISSN: 02691310
No part of this publication may be reproduced without prior written permission from the publishers. The greatest care has been taken to ensure accuracy but the publishers cannot accept responsibility for errors and omissions.
122 nEWgatE StrEEt london EC1a 7aa
T: 020 7600 0026 W: www.scottcity.co.uk e: property@scottcity.co.uk
BarBiCan, EC2 £825,000 LeasehoLd
farringdon, EC1 £785,000 LeasehoLd
St. PaulS, EC4 £395 Per Week
WESt SmithfiEld, EC1 £440 Per Week
A well-presented spacious ONE BEDROOM apartment in SEDDON HOUSE, BARBICAN with South facing views from balcony towards ST PAULS CATHEDRIAL. The apartment retains many original features including kitchen, bathroom, toilet, good size bedroom and study/dressing room.
City View Apartments located close to Farringdon and Chancery Lane Stations, easy access to the City. TWO BEDROOM apartment benefits from a high standard of fixtures and fittings, under floor heating, walnut veneer doors, oak wood flooring, granite worktops and natural stone bathrooms.
ONE BEDROOM DUPLEX APARTMENT, Located on the first and second Floor of the building. This spacious property has a Large reception room and is currently Being redecorated and being supplied with brand new furniture, and is AVAILABLE NOW.
This 645 Sq. Ft ONE BEDROOM apartment is situated in a Modern development. The property offers a fully fitted kitchen, and finished to a very high standard. Other key features of this marvellous flat are it has a wonderful limestone bathroom and 24 hour concierge. AVAILABLE APRIL.
St PaulS, EC4 £525,000 LeasehoLd
tEmPlE, EC4 £1,550,000 LeasehoLd
BarBiCan, EC2 £335 Per Week
St. PaulS, EC1 £380 Per Week
ONE BEDROOM apartment in Priory House located in a conservation area between St. Paul’s Cathedral and Blackfriars Station. The building was originally a print house. The property offers one bedroom, bathroom, open plan kitchen and reception room, and is situated on the lower ground floor.
Luxury TWO BEDROOM apartment situated in TEMPLE HOUSE. This flats on the ground floor of the building and has been finished to a very high specification and offers fully fitted kitchen, modern bathroom and en suite shower room, two bedrooms, utility room and reception room, high ceilings and secure parking.
This LARGE-STYLE STUDIO flat located on the 5-th floor which benefits from views of the city. The property is fully furnished with big fitted wardrobes, underfloor heating and large original windows leading to a balcony. This property has a light and bright feel, enhanced by the 5th-floor aspect, viewings highly recommended. AVAILABLE EARLY MARCH.
This ONE BEDROOM apartment in a modern development on the fifth floor comes fully furnished throughout and has wooden flooring with exception of the tiled bathroom and fully fitted kitchen. Other key features of this flat include that there is a small private balcony situated off of the bedroom and that there is a day concierge. AVAILABLE NOW.
NHBC – the mark of a quality home
...Buying a new home is a big decision, so you’ll want to know that your property is of good quality and your investment well protected. Only builders approved and registered by NHBC can offer Buildmark, and they must build to the detailed technical standards we have been developing and updating for more than 75 years. It will give you peace of mind to know that all new homes with NHBC’s Buildmark have been independently inspected at key stages during construction, and come with 10 years’ warranty and insurance. This gives you the reassurance that, on the rare occasion when something does go wrong, we’re here to help you.
So, before you buy a new home, make sure it has Buildmark.
Talk to us...
Call us now on 0844 633 1000 and ask for ‘Customer Services’. Or visit www.nhbc.co.uk/myhome H391 08/14
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6 six appeal
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Guildenhurst Stud, Billingshurst, West Sussex • £1.1million
Elegantly tucked away up a long driveway and set in approximately eight acres, surrounded by tree-lined fields with southerly views to the South Downs, this substantial equestrian facility with attached cottage and separate annexe offers a perfect equestrian property. Guildenhurst Stud is conveniently located between the two villages of Wisborough Green and Billingshurst. The attractive cottage includes three bedrooms, three reception rooms, kitchen/ breakfast room and a bathroom with shower room. The house benefits from an oak-framed orangery, featuring a contemporary logburner and underfloor heating. The current owner has converted the older stable facilities into a modern one-bedroom annexe complete with kitchen area and tiled wet room. Externally, there is an enclosed private garden and potting shed. The equestrian facilities include a courtyard of six brick-built
stables with a foaling box in the main block, a feed/utility room and WC. The large hay/lorry barn provides ample storage with two further stables and a tack room. There is an additional stable attached to an office. The paddocks are post and rail-fenced, and have water. They stand on southerly, fertile and free-draining loam soil making them ideal for grazing horses. There are two field shelters and a recently refurbished 60m x 20m all-weather arena.
From: Clarkes Contact: 01903 884820
Six appeal Our favourite equestrian properties on the market right now Hill Top House, Beaulieu, Hampshire £1,999,995
Blomfield House, East Grinstead, Surrey £1.895million
This is an impressive, Grade II listed Georgian country house set in park-like grounds of over eight acres within the New Forest National Park. The house has fine period features and a good range of reception rooms which include a drawing room, conservatory, dining room, two studies, a farmhouse kitchen/ breakfast room and a boot room/utility. The bedrooms are arranged over two floors, with four bedroom suites on the first floor and an additional two bedrooms plus bathroom on the second floor. The property also benefits from a detached cottage, which sits to the rear of the main house and has its own terrace area overlooking the paddocks. The cottage accommodation comprises a fitted kitchen/breakfast room and separate sitting room, plus two en suite double bedrooms. It provides excellent
This is a rare opportunity to buy a new-build that not only has a generous garden but also a paddock next door. Situated on Swissland Hill in the exclusive Dormans Park in Surrey, near the West Sussex town of East Grinstead, Blomfield House is a five-bedroom detached home with triple garage, spaciously set over three floors, and individually designed by renowned housebuilder Millwood Designer Homes. The property is set in a half-acre plot and there is also the opportunity to include the adjacent 2.2-acre paddock by separate negotiation. Perfect if you own ponies or horses, as you’ll be able to keep them close to hand. Blomfield House has an open-plan breakfast/ kitchen/family room with bi-fold doors to the rear garden. The elegant drawing room with a brick-built inglenook fireplace with oak
accommodation for guests or staff, or could provide income as a holiday let. The eight acres of grounds incorporate a large east-facing front lawn, while to the west of the main house is a walled garden with well-stocked herbaceous borders. There is also a productive kitchen garden with a greenhouse, raised beds and fruit trees. Equestrian facilities include two paddocks with triple stabling, which offers easy access to the open forest, a bluebell wood and a small pond with ornamental bridge. Also within the grounds are a double garage and an attractive granary studio, as well as several useful garden stores and an open-fronted barn.
From: John D Wood Contact: 01590 677233
bressemer also opens out onto the garden and it’s a short stroll from the house to the paddock – the morning feed has never been so easy! The kitchen is fitted with Stonehams range of cabinets finished in walnut and has a central island with granite worktops and top-of-the-range integrated appliances. There is also a useful utility room with outside access (perfect if you’ve got muddy riding boots), two cloakrooms, a study and formal dining room. There are four en suite bedrooms, including the master suite with walk-in closet, and the home also fulfils the requirements of today’s homebuyers with a media room and top-floor en suite au pair quarters or guest bedroom.
From: Millwood Designer Homes Contact: 01342 774850
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Weston Place, Dorking Road, Warnham, West Sussex • £1.75million
This is a spectacular Grade II listed family home which dates back to 1450 and retains many original period features, including fireplaces with Elizabethan carvings and oak panelling. The property benefits from grounds of approximately 2.5 acres. These include formal gardens of around 1.5 acres, which are predominantly laid to lawn, with a sizeable natural pond, outdoor heated swimming pool and pool house. The remaining land incorporates equestrian facilities including five stables, a tack room, oversized sand school and paddock. The accommodation extends to over 6,400 sq ft and is arranged over three floors, comprising a spacious reception hall, drawing room, dining room, sitting room
and kitchen/breakfast room on the ground floor, as well as a study, utility room and larder. The master bedroom is located on the first floor and features an en suite bathroom and a range fitted wardrobes. Also on the floor are four further bedrooms, three with en suite bath or shower rooms, and a family bathroom. The final two bedrooms and two bathrooms are on the second floor.
From: King and Chasemore Contact: 01403 264444
Trulls Hatch Farm, Rotherfield, East Sussex Guide price £900,000
Spinnakers, Nettlestead Green, Wateringbury, Kent Guide price £1.5million The current owner has lived at Spinnakers, a charming country house estate of manageable proportions, approached via electric gates over a stone-cobbled drive, for over 40 years. The Arts and Crafts property was built in the early 1920s by the architect Morley-Horder, a contemporary of Lutyens and Gertrude Jekyll. It is a striking dwelling, built of Kentish ragstone with brick quoins, the upper storey clad in oak timbers under a tiled roof.
The property is set in a ringfenced nine acres of park-like grounds which include mature bluebell woods, ponds and paddocks, all offering wildflower meadow habitat for a diversity of wildlife. The boundaries are double fenced and thickly wooded providing seclusion, reinforcement to the country estate ethos. Included in the nine acres is stabling, hay barns, a miniature cross country course, paddocks and a grass ménage. Inside, accommodation is
extensive and well sized, including, from its hallway, study, drawing room, sitting room, dining room, kitchen, utility room, cloakroom and WC, oak staircase, bathroom, four main bedrooms with built-in storage and a fifth bedroom/dressing room, also with storage. The property also has a double garage, single garage and tractor garage, as well as a workshop to the rear.
From: haart Contact: 01622 751222
Those seeking an equestrian home will know how rare it is to find a property which provides the whole package – a beautiful home, excellent stable facilities, off-road hacking on the doorstep, set within reach of good schools, shopping facilities and rail links to London. Trulls Hatch Farm, located in the picturesque Wealden countryside around 6.6 miles from the popular spa town of Royal Tunbridge Wells, combines a charming detached five-bedroom house with paddocks, serviced stable facilities and direct access to a bridleway. Current owner Phillip Hall, three times South East Point to Point champion jockey, who rode his 100th point-to-point winner last year, says: “Back in its day Trulls Hatch was a bustling riding school and many in the local area fondly remember coming here as children for their lessons. It really
is an equestrian haven and has also provided the idyllic post racing environment for our horses, which have benefitted greatly from the calm, good hacking, and direct access onto the bridle path which has helped set them on the road to the next stage of their life beyond racing.” Tim Crundwell at BTF, adds: “This is a delightful family home which you could comfortably move straight into, with excellent equestrian facilities. The property is rural but not isolated and with regular rail services into central London available from stations at Tunbridge Wells, Crowborough and Wadhurst, the property is ideal for those combining a rural and town lifestyle.”
From: BTF Partnership Contact: 01435 864455
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T H E T O W N H O U SE COL L E C T I O N ST U NNING 4 & 5 B E D R O O M TOWN HO U S E S AT WA R R I N E R P L AC E PRICES FROM £1,999,950 TO £2,5 95,000
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FIND OUT MORE ONLINE SHANLYHOMES.COM
020 7228 8686 Photography of Warriner Place. Travel times approximate only. Prices correct at time of press.
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Help to Buy
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11
In the spotlight: Tower Hamlets are beginning to slow down, however, with prices dropping 3.3% last month. Although the numbers vary between sources, recent figures suggest the average property price in Tower Hamlets is £544,893, with flats selling for £423,196, terraced homes for £727,382 and semi-detached properties for £584,086. Tower Bridge is the most expensive area here, while Lansbury is the cheapest.
WILL CROSSRAIL HAVE A BIG EFFECT?
This month we take a look at Tower Hamlets, one of London’s most active boroughs in terms of regeneration. WHERE IS IT? Tower Hamlets is located to the east of the City of London and north of the River Thames. Tower Hill, Whitechapel, Wapping, Bethnal Green, Stepney, Mile End, Bow and the majority of the Docklands area including Shadwell, Limehouse and Canary Wharf all fall within its boundaries.
WHO LIVES THERE? The 2011 Census survey found Tower
Hamlets had the fastest growing population of any local authority in the country, with an increase of 29% since 2001. The total population is now estimated to be in the region of 272,000.
WHAT DO HOUSES WHAT IS THE POLITICAL COST? LANDSCAPE LIKE? In the year to May 2014, Of the 45 councillors in the borough, Labour boasts 22 seats; the Tower Hamlets First party has 18; and the
ESTATE AGENT OUTLOOK
NEW HOMES
Tom Hawkins, associate director of London RDI at Hamptons International
Goodman’s Fields, by Berkeley Homes Aldgate
“The market in Tower Hamlets is currently very strong in the £500-£600 per sqft bracket. There is a very strong demand for purchasers seeking good quality new-build stock close to transport links who have been priced out from other areas.”
Carl Schmid, owner of Fyfe Mcdade “The borough of Tower Hamlets has boomed in the past two years thanks to areas like Bethnal Green and Bow, which offer a vibrant atmosphere and good transport links, combined with a lack of pretension and relative affordability against their trendier counterparts. You can still get a decent twobedroom flat in these areas for under £500,000, while you’d only get a one-bedroom home in Hackney for the same price.”
Conservatives have five. The borough has experienced significant political controversy in recent years, and petitioners are currently attempting to have the 2014 poll rerun.
Tower Hamlets saw the biggest price hike of any London borough – a whopping 43.1%. There are signs that things The latest phase here, Kingswood Gardens, has recently been launched, with prices starting at £735,000. Comprising over 920 studio, one-, two- and three-bedroom apartments and penthouses, Goodman’s Fields is arranged across seven acres and within walking distance of the City, Whitechapel, Shoreditch and Old Street. Goodman’s Fields boasts fivestar hotel-standard facilities for the private use of its residents, including an on-site indoor pool, spa, stateof-the-art gym, private cinema and business lounge. Find out more at www.berkeleygroup.co.uk; 020 3217 1000
Yes. Recent research by JLL found that Whitechapel homeowners will enjoy the biggest increase in house prices – 54% over the next five years – of any London stop on the new Crossrail line. Crossrail is set to be completed by 2019, cutting journey times to Heathrow to just 39 minutes, and Canary Wharf to just three minutes. Price increases in Whitechapel are already outstripping those in central London, and there are various residential schemes either under construction or with planning permission that aim to deliver nearly 1,900 units in the coming years.
WHAT ARE THE CURRENT PROPERTY TRENDS? Tower Hamlets is very popular with second-home buyers, with council tax records in 2014 showing 5,003, or one in 22 homes, are not registered as the main residence of their owners. The figure reflects the significant number of Canary Wharf and City employees living in London during the working week before heading to their family home at the weekend.
ARE THERE ANY REGENERATION PROJECTS UNDERWAY? The large-scale regeneration of the borough continues apace, with a range of new schemes in the pipeline.
Bishopsgate goods yard The Bishopsgate goods yard regeneration hopes to bring 2,000 new homes to the area over the next 10-15 years.
Fish Island In the east, the council aims to bring 3,000 new homes to Fish Island, close to the Olympic Park. The area is a key component of the plan to develop the wider Hackney Wick area.
Leopold Estate, St Paul’s Way There are plans afoot to regenerate the Leopold Estate, replacing old blocks with 470 new private sale and affordable homes.
Blackwall Reach The Blackwall Reach regeneration programme will transform Poplar and bring nearly 1,600 new homes to the local area.
Wood Wharf Wood Wharf is one of the largest proposed regeneration schemes in London, with plans afoot to build up to 4,500 new homes, a school and community centre.
Millharbour A proposal for 900 apartments in Millharbour was deferred by the council last month, with 35 objections putting a temporary stop to the plans to build a 42-storey tower.
Royal Quay, by Regal Homes Limehouse Comprising 90 studio, oneand two-bedroom apartments, the scheme occupies a former warehouse overlooking the Limehouse Cut – London’s oldest canal. Royal Quay combines canalside living with industrial chic architecture; original brickwork facades juxtapose contemporary design flourishes for optimum style, while courtyards provide centre points for residents. Local pubs include Charles
Dickens’ favourite The Grapes, and The Narrow – owned by Gordon Ramsay. Transport links from Limehouse and Westferry deliver commuters to Canary Wharf and the City in minutes. Prices at the development start from £250,000, offering unrivalled affordability for a central London location. Find out more at www.regal-homes.co.uk; 020 7328 7171
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A day in the life of a London estate agent Michael Swait, director of Sandfords in Marylebone, tells us about his working day as a London estate agent.
I
a bsolutely love working in Marylebone and the best thing about my typical day is that I get to be a part of a village that has such a strong community. I have always walked to all my appointments, even when it’s raining, and this is a great way to get to know the local businesses and residents. The atmosphere of the area has meant that I have developed some good relationships, not only with clients but also the people who live and work in Marylebone. So, it’s Monday morning, and after a great weekend with my little girl, I am up and ready for the day ahead. After a mad dash to drop her at nursery, I head to the station to catch my train. I walk from here and pick up a coffee from Carluccio’s on the way, a much needed boost of caffeine after being up half the night with a teething toddler! There are no two days the same, and this is part of the reason I wanted to be an estate agent in the first place. Marylebone has become increasingly popular with international investors who are lured by its charm, central location and continental atmosphere, and working with people from all
over the world is rapidly becoming part of my daily routine. Dealing with potential buyers with such different cultural backgrounds and meeting their property needs is very interesting and rewarding. Back to my Monday morning, and our weekly management meeting, which takes place at our Regent’s Park office. We discuss each office’s figures, any new properties, give our individual updates on existing listings and transactions, and talk about any other business required. Once we have finished the meeting, my day as an estate agent truly begins. My first call as I step foot into the office is in fact from a buying agent I regularly deal with who is property hunting for one of his many high net worth clients. The brief is for a 2,500 sq ft mews house with a budget up to £7 million, Marylebone prime or possibly into Mayfair. I’ve a couple of options that I can show him and get onto my clients to make the viewing bookings. The rest of my morning is spent mostly on the phone catching up with clients and solicitors to check the stages of numerous sales transactions, before taking a few calls from other potential
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buyers. One call in particular has come through from a doctor who has recently been employed at the Harley Street Clinic, and is looking for a family home nearby. There are some beautiful properties around Harley Street, Devonshire Place and Wimpole Street so I am sure there will be something that they will love in this area. My second call is from a wealthy overseas family in China who are looking to invest in property in Marylebone. They have a daughter who is about to start studying at Westminster University and they want to relocate here for the duration of her university course and then potentially rent it out afterwards for investment purposes. After playing catch up and booking in appointments for the rest of the week, I realise that I have a valuation at midday and need to get going. Off I set, on foot of course, to Portland Place where I am meeting a retired banker who now wishes to release his London flat’s significant value, after which he hopes to move out to the home counties for a bit of a slower pace. Sounds awful! Find out more at www.sandfords.com; 020 7224 4994
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Room with a view – Manhattan Loft Gardens, Stratford Harrods Estates offers new homes at luxury Stratford scheme
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e h Manhattan Loft Corporation has made its name across the capital at such landmark schemes as the St Pancras Renaissance Hotel and the Chiltern Firehouse. Now Harrods Estates is offering a new selection of apartments and lofts at Manhattan Loft Gardens on the former Olympic site in Stratford, coinciding with the launch of the agency’s new pop-up shop in Harrods department store in Knightsbridge. This 42-storey double-cantilevered tower claims to be “the first building to offer loft-style living in a high rise”. As well as enjoying spectacular views in every direction, the residents of these new homes will have access to three sky gardens and benefit from a 24 hour concierge. Some loft apartments will offer expansive living spaces and double-height ceilings. Visitors to the Harrods Estates pop-up will be able to take a virtual tour of the apartments using the futuristic Oculus headset software, providing a 3D experience that adds a new dimension to off-plan property viewing. Already transformed in preparation for the 2012 Olympic Games, the
COMING SOON
Stratford site has since found a new role as a public park and major shopping centre. A recent announcement from Mayor Boris Johnson broke news of an agreement to build new institutions connected to the Victoria & Albert Museum, Sadler’s Wells and University of Arts London as part of a so-called ‘Olympicopolis’ project. In 2018, Crossrail will add to Stratford’s impressive public transport connections, which include National Rail, HS1, DLR, tube and numerous bus routes. Harry Handelsman, chief executive of Manhattan Loft Corporation, says: “We are delighted to be collaborating with Harrods Estates within the iconic Harrods department store. There is no better window in London in which to showcase Manhattan Loft Gardens and no better way to underscore the quality of our development.” Manhattan Loft Gardens is due to complete in 2018. One- and twobedroom apartments are available from £615,000. Find out more at www.harrodsestates.com; 020 7225 6700
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St John’s Way SW11 A new way of life is emerging in the heart of Battersea 1, 2 & 3 bed apartments and 3 & 4 bed triplexes Prices coming soon
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networkliving.co.uk Full asking prices referenced and correct at time of press. Shared Ownership and Shared Equity options available on selected homes. Computer generated images and photography of developments.
Bryan & Keegan Estate Agents are a
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Why choosing Bryan & Keegan can help you achieve a far better result...
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360 Brockley Rd Brockley London SE4 2BY www.bryanandkeegan.co.uk
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Isn’t it iconic? Work is well underway to transform one of the capital’s most-loved buildings into the hub of a brand new community
T
here can be few buildings in London – particularly industrial ones – that instil as much affection in the capital’s residents and visitors as Battersea Power Station. Since it was decommissioned in the early 1980s, many Londoners will have looked on with despair as numerous ambitious plans to repurpose the iconic structure – including as a theme park or football stadium – fell by the wayside. With each successive aborted project, the Grade II listed giant fell into greater disrepair. Thankfully, some 30 years after it last produced electricity, the power station and the 42-acre site on which it sits are being transformed by a multibillion-pound regeneration scheme. The master plan, by New York-based architect Rafael Viñoly, provides nearly 4,000 new homes, 250 shops bars and cafés, three hotels, over three million square feet of office and commercial space, and new public open spaces. Work is surging ahead on the first phase, located between the power station and the Victoria railway lines. The chimneys – among the most recognisable features on any city skyline in the world – are being brought down and carefully rebuilt to exacting heritage standards. One of the chimneys has already been completely removed, and when its replacement has been assessed, the other three will follow and their brand new doppelgangers will restore the building to its familiar shape by the end of 2016. All this, along with the wider Nine Elms regeneration scheme going on around it, will be served by a new extension to the Northern Line and a proposed new bridge over the Thames to Pimlico. Thames Clipper services will also stop at the jetty in front of the power station, utilising the river to offer speedy links east and west. Battersea’s reputation – somewhat unjustified – as being difficult to get to will certainly have to be reappraised when these are all in place. The Battersea Power Station Development Company (BPSDC) says it aims “to build a strong, robust and sustainable community” on the site, which will encompass over 560 ‘affordable homes’ and encourage local, independent businesses to make a vibrant and individual new ‘high street’ that won’t be swamped with
all-too-familiar brands. Public leisure facilities will include a six-acre park that opens up the riverfront and Thames Path riverside walk. There will also be public squares and recreation areas across the site and the power station’s northwest chimney will incorporate a transparent passenger lift and 360-degree viewing platform over 100m above ground, which is sure to be a major tourist draw. The power station building will also house an entertainment zone and 2,000 capacity auditorium. Residents will have an even wider range of amenities to utilise. There’s a 5,000-sq-ft Residents’ Club that will include a bar, private dining, library and cinema while many of the residential blocks will incorporate a communal roof garden for the exclusive use of those who live there, each offering far-reaching views across London. BPSDC has enlisted a team of world-class architects to provide a new range of draw residents and visitors to this new community. Big names such as dRMM, Wilkinson Eyre, Foster + Partners and Gehry Partners will each bring their own distinctive creativity to different phases of the site with some truly striking buildings and spaces. For example, the centrepiece of Gehry’s project is an angular tower called The Flower while Foster + Partners have commissioned the designers of New York’s High Line urban park to landscape a 355m roof garden on their building. So far, three phases of properties have been released at the development. At Phase 1, the Ian Simpson Architectsdesigned Circus West, only penthouses remain for sale, priced from £7m. At Phase 2 – the power station building itself – two-bed apartments start at £2.75m, while at Phase 3, Frank Gehry’s Prospect Park and the Foster-designed Battersea Roof Gardens, prices for a one-bedroom property start at £1.006m. The first residents will move into Circus West next year, along with the first wave of shops and amenities. The Northern Line Extension, which will connect new stations at Battersea Power Station and Nine Elms to Kennington, is set to be ready by 2020 and the whole regeneration project is scheduled for completion in 2025. Find out more at www.batterseapowerstation.co.uk; 020 7062 1840
From top: How the finished Battersea Power Station scheme will look Substantial room is given over to parks and public spaces The Flower in Prospect Place, by Gehry Partners One of the penthouses at Circus West The turbine halls are transformed into shopping and office space A Foster + Partners apartment at Battersea Roof Gardens
Find your new home at whathouse.com/new-homes
london
Fancy a brew? T Ever-popular Twickenham proving a draw for buyers and investors at Brewery Wharf h e Borough of Richmondupon-Thames has long been an attractive area for a whole range of property buyers and investors, its leafy streets, numerous parks and open spaces, great schools and transport connectivity drawing in young and old, single people and families alike. The borough encompasses such desirable residential areas as Kingstonupon-Thames, East Sheen, Barnes and of course Richmond itself. Another of its well-known neighbourhoods is Twickenham, perhaps most famous as the home of English rugby and now the home of a new homes development from St James, Brewery Wharf. It’s an area that property owners, once they’ve discovered it, find they don’t want to leave, says Paul Hopkins, managing director of St James (North London): “In our experience, the property market in Twickenham is predominantly driven by local demand. This is evidenced by the fact that over 60% of reservations for new homes at our Brewery Wharf development, a collection of apartments and houses directly opposite the station, are local
investors and movers, keen to either invest in bricks and mortar or secure their next new home in the area.” It’s an opinion with which local estate agent, Nancy Miller of Dexters, concurs: “Demand for homes in the Borough of Richmond upon Thames is predominantly driven by locals keen to stay local. Towns such as Twickenham and St Margarets are both areas with such compelling appeal. This trend is something that stretches throughout the borough, with demand for both new and traditional homes alike. I’ve worked in the area for 15 years and have moved many people three or four times within these areas.” However, the area is proving enticing for buyers who can’t afford city prices, moving out of London’s centre to its
outer suburbs. Miller adds: “Twickenham fits the bill for many different types of buyers – its idyllic position on the banks of the Thames provides the opportunity to enjoy fantastic views, great shopping, waterside restaurants, outstanding Ofsted-rated schools and lovely Thames riverside walks, in addition to its many parks and national landmarks. The fast train to London Waterloo takes 20 minutes station to station, which is perfect for city commuters. Brewery Wharf is a collection of luxurious, high-specification apartments set on the site of a former brewery and, more recently, a post office sorting depot. A public piazza is incorporated into the design of Brewery Wharf and will include an attractive water feature, two restaurants and a new cultural centre. A limited number of two-bedroom apartments remain, with prices starting from £550,000. There is also a selection of four- and five-bedroom houses available, set within a gated mews – price on application. Find out more at www.brewery-wharf.co.uk; 020 3002 9457.
One landmark you don’t want to miss if you’re selling or letting a property in London.
ACR Properties is a friendly and professional, independently owned Property Company with over 20 years combined experience in Lettings, Property Management and the Acquisition and Disposal of Investment Property.
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17
18 london
Find your new home at whathouse.com/new-homes
Try before you buy A trend for would-be buyers to test-drive a new home with a short lettings period before taking the plunge is growing in central London
R
u nning away with itself a year ago amid tales of sealed bids and rival buyers eyeing each other at full-to-the-brim open-house viewings, the London property sales market has slowed in recent months. At the top end, recent changes to stamp duty and concerns over whether the looming general election will bring with it a ‘mansion tax’ have led to a more cautious market. Remaining buoyant however, the London property market has seen a rise in lettings exchanges and, with ‘try before you buy’, a growing trend. Leading London property agents are seeing a growing number of sellers who, keen to achieve an income, place their properties on both the sales and lettings markets, with many open to allowing potential buyers let a property before deciding if they wish to commit to purchasing outright. Susan Cohen, head of sales and lettings at Pastor Real Estate, says: “We have a delightful pied-à-terre at
Clarges Mews [Mayfair], which is the perfect solution for someone who wants to ‘try before they buy’ as it is available to purchase or to rent. We are beginning to see a growing trend of people renting specific homes or in areas they wish to familiarise themselves with before committing to a purchase.” Leading specialist in ultra-prime lettings, Mark Tunstall, founder of Tunstall Property London, adds: “The practice of ‘try before you buy’ is more prevalent with overseas purchasers, who often look to rent a property before committing to a major financial investment. It is impossible to really get a feeling for an area without living or visiting there for a period of time and this, coupled with the increase in stamp duty which has made buying a property even more expensive, often leads overseas buyers to first rent a property to get to know a certain area, location or development before committing to a substantial investment in their property of choice.”
TWO EXAMPLES OF ‘TRY BEFORE YOU BUY’ LONDON HOMES
Pastor Real Estate’s luxury, interior-designed apartment in Clarges Mews, Mayfair, is a one-bedroom property available to let for £800 per week or to purchase for £1.5m. The 610-sq-ft apartment has been beautifully refurbished with wood flooring throughout, a high-quality fitted kitchen with granite worktop and integrated appliances, and a contemporary bathroom suite. The property is available to rent fully furnished, enabling the tenant to move straight in. Find out more at www.pastor-realestate.com; 020 3195 9595
Reaching new heights in selling and letting every type of property. Your property is probably one of your most valuable asset, when it comes to selling or renting your property, an agent with considerable knowledge and experience is essential. As such, we are fully committed to providing you with a top quality service and ensuring that things move along as swiftly and smoothly as possible. We provide our service at competitive commission rates, and on a no sale no fee basis.
tel: 0203 743 0333 | email: info@canaryproperties.co.uk
Russell Simpson is currently offering The Court House in Chelsea, a historic 6,609-sq-ft conversion one of the oldest local courthouses in London into a luxurious mansion, available to rent at £10,000 per week or to buy for £14.5m. The main house boasts five en suite bedrooms and the grand master bedroom occupies the entire top floor, with his-and-hers en suite bathrooms, walk-in wardrobes and private studies. Find out more at www.russellsimpson.co.uk; 020 7225 0277
20 london
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That’s entertainment! Octagon’s magnificent 48 Totteridge Common shows the way for seriously luxurious fun at home
O
ctagon has made its name, and won a (champagne) bucket full of awards to boot, on the back of its unerring eye for what homebuyers at the very top of the market are looking for in a home. The company specialises in one-off homes that, while often traditional in architecture, are at the forefront of interior specification and technology. David Smith, marketing director for Octagon, has seen trends change constantly over the years as buyers aim ever higher for the very latest innovations. He says: “The now obligatory cinema and media rooms, leisure suites with indoor pools, spa facilities and gyms are getting more fabulous as we go from year to year. Our Totteridge house is a perfect example, which comes complete with a glass bridge linking the leisure wing to the main house, mosaic-tiled steam and sauna units, a glass-walled gym with the very latest equipment, and a wonderful games den with retro video and pin table games. “But Octagon clients like to always go one – or should I say six – steps further. So starting outside, we have supplied private, all-weather jogging tracks circumnavigating the grounds and Russian-style bathhouses built outside in the garden, with all the correct Finnish timber sourced for the walls. “Elsewhere, we have a beer pump for draught ales fitted in the relaxation room bar, tasting rooms outside the custom-built wine cellars, irrigated freshwater ponds for the owners’ rare
fish collections, and outdoor heated swimming pools (often infinity) with retractable water fountains, so as the sun sets, and the pool and garden lights go on, they can enjoy a mini ‘Versailles’ vista in their back garden.” Approach up the tree-lined drive and step inside 48 Totteridge Common – a one-off residence that has taken two years to build and which is currently being marketed for £16m – and you enter a world that is perfect for both relaxed family living and grand entertaining. Quality and elegance pervades every room, thanks to exquisite decoration and furnishings by Rachel Beckett of R Interiors. The spectacular double-height main entrance hall has a classic marble floor and a specially commissioned Italian chandelier that cascades from the top of the house, while the broad sweep of bespoke carpeted marble stairs and lofty, full-height windows add aristocratic ambience. A discreetly positioned passenger lift serves all three levels of the house, which will definitely find favour with owners and staff alike. On the ground floor the super-size kitchen has an informal dining area, a large island breakfast bar, bespoke painted cabinetry, a hidden walk-in pantry, and impressive range of builtin Wolf and Gaggenau appliances. A drawing room, family room and formal dining room provide plenty of options for relaxing or entertaining. If there’s a big party on the horizon, why not get the caterers in, who can use the lower-level professional kitchen. (Ed Miliband’s not the only one who can benefit from two
kitchens!) Fitted out with commercial stainless steel appliances, it is linked to the upper-level kitchen by an electrically operated dumb waiter. Also on the lower level are the temperature-controlled wine cellar and home cinema, where you and your guests can sit back into reclining leather seats as the latest blockbuster starts to play on the giant 10ft-wide screen. Your butler can quietly mix exquisite vodka martinis behind a backlit onyx cocktail bar to the rear. A huge glass window on one wall of the kitchen overlooks the 10-metre indoor swimming pool and comprehensive spa and leisure suite, with gym, steam room/sauna and changing room with shower. The games room is kitted out with a purple pool table alongside the retro games. The luxury continues upstairs with five en suite bedrooms, all with plenty of custom-built fitted storage, while the master bedroom suite has a spectacular marble-clad bathroom and a mahogany-lined walk-in dressing room. At the top of the tower, with three viewing windows and an extended roof space, is a space that is ideal as an office or studio ‘eyrie’. Outside are three acres of grounds with areas of lawn, formal landscaping, woodland and terracing, and there is a self-contained two-bedroom apartment for staff or independent family member above the four-car integral garage. Find out more through selling agents Statons (020 8445 3694) or Knight Frank (020 7861 6002).
WE CAN GET YOU MOVING Mastermove helps you buy at Kingston Riverside while we take the hard work out of selling your existing property, by arranging valuations, appointing an estate agent, taking care of all the paperwork and even paying the agents’ fees. Mastermove helps you move into your brand new Redrow home in three simple steps: Step 1 - Choose your Redrow home at Kingston Riverside and register on Mastermove. Step 2 - We’ll appoint an estate agent to market your property. Step 3 - When a sale is agreed, Redrow will pay the agent’s fees leaving you free to reserve your new Redrow luxury apartment. Call now to find out how simple your move could be.
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22 london
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Election outlook
What next for the London property market?
L
ast year, the London property market saw significant price increases across the board. Ahead of the upcoming general election in May, however, things have started to slow down a little, with buyers and
sellers feeling a little more cautious. Here, four top London estate agents give us the lowdown on their hopes and expectations for the property market ahead of the election.
MICHAEL WILSON, director of sales at Mountgrange Heritage, Central London “We are already experiencing some reticence in the market from both vendors and buyers, and with the dangled threat of the mansion tax we are obviously sympathetic. Looking through the optimistic crystal ball, whichever government comes to power we would like to see a real commitment to stepping up housing supplies for the lower end of the market, as without young buyers starting on the property ladder we agents at the higher end will not eventually be able to welcome them as clients, and we feel everybody has the right to own their own home.
“With regards to our particular sector, we of course see a number of buyers and tenants from overseas who have undoubtedly kept the market buoyant. It would be a sad day when a government actively discourages foreign buyers, especially those who intend to put down roots in the capital, educate their children here and not least contribute to our economy. Therefore, in an ideal world we would like to see no mansion tax but a fairer system of collecting taxes from people related to their income or monetary wealth.” “We are now in a crucial time before the general election, and the uncertainty that surrounds it has naturally had an impact on both the market and homeowner sentiment. Those who need to move right away are leaning more heavily on advice from their agent on market conditions and pricing accordingly, with success. Others, as is typical of a pre-election market, are awaiting political certainly before making a move. One outcome that many fear, particularly in the capital, is the introduction of a mansion tax. The case against it has been made public and arguments for such a tax have been significantly undermined, but there is still a possibility that it could go ahead. There are risks involved for
SIMON ARMITAGE, of Druce, South Kensington and Chelsea “Should a mansion tax be introduced, property worth over £3m is going to be hit with an estimated £23,000 a year in tax. In South Kensington and Chelsea, a £3m property is not some large mega-mansion, but rather a three-bedroom flat, for which it seems absurd to charge such a substantial tax. As neither Labour nor the Liberal Democrats have yet laid out the exact details of a mansion tax, the main issue at the moment is the uncertainty of what this will bring. “A significant proportion of our
buyers are from Europe and the Middle East and it may be the case that these buyers, familiar with a similar tax in their own countries, will become less interested in investing in a city which similarly charges the tax they are seeking to avoid. As a result, there may be a shift in the different nationalities investing in South Kensington. I do not feel that a mansion tax will affect the strength of the market significantly in the long term, but it will certainly lead to a lack of activity for the six months or so following its inception.”
MATTHEW DABELL, director of Aspire in South West London “While the market currently ticks along in London, many people are sitting on the fence until after the election, when we expect buyer enquiries to pick up significantly, as, regardless of the final result, there should be a little more certainty for the foreseeable future. “From a lettings perspective, governments over the past 30 or so
ANDREW ELLINAS, director of Sandfords
years have reduced the protection offered to tenants, which has resulted in more homes to rent and helped stoke the buy-to-let market. If Labour were to gain control in May, however, they have confirmed they are keen to see a reintroduction of rent controls with longer tenancy agreements, which may result in the more casual landlord selling up.
“From a residential sales perspective, all we really want is certainty. Again the main area of concern is whether, after the recent changes in stamp duty, a new government could tinker further and add in a mansion tax as well. There is no getting away from the fact that a home is always going to be an investment and uncertainty can destroy belief in the market. Ten years ago, 59% of 25-34 year olds owned their own home in England – but now that figure is down to 36%. These people are now renting from
private landlords. The biggest issue facing a new government is simple in that for many years we have not been building enough new homes. We apparently need about 245,000 new homes a year to keep pace with demand and we are running at about half that level. As the most likely result of the election is another hung parliament with at least two parties having to `do a deal’, it may well mean a further period of no one party being prepared to grab the bull by the horns.”
both the property industry and the wider economy if it’s imposed and, in the short term, there could be some disruption as a result. “Post-election, the market will undoubtedly pick up again, although recovery time will depend on who is elected and their policies. The best result for the property market will be a stable government, and whether that is a coalition or not isn’t important. The worst result would be a hung parliament with another election being called soon after. Also, the market needs a government that helps ease up restrictions on people raising finance. Getting a mortgage now is proving extremely difficult, if not impossible, for many people.”
NEW IS GETTING YOUR NEXT HOME WITH HELP TO BUY With the Government-backed Help to Buy scheme you could take your next step up the property ladder sooner than you think. Buy any new Barratt home in England worth up to £600,000 and you could be eligible. Here’s how it works: you provide a 5% deposit and the Government gives you an equity loan of up to 20% of the property’s value. That means you only need a 75% mortgage and you’ll still own 100% of your new home.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER LOAN SECURED ON IT. Limited availability, selected plots only. Subject to status, terms and conditions apply. See www.barratthomes.co.uk for full details. BDW Trading Limited (number 03018173) whose registered office is at Barratt House, Cartwright Way, Forest Business Park, Bardon Hill, Coalville, Leicestershire LE67 1UF (“BDW”) BDW is a subsidiary of Barratt Developments PLC. The Homes and Communities Agency (“HCA”) provides an equity loan for 20% of the purchase price of the property. The equity loan provided by the HCA is secured as second charge on your property. The amount you have to repay to the HCA may be more than the amount of the equity loan provided. Help to Buy England Scheme is available in England only and on properties up to £600k. Prices correct at time of going to press. Advertising images may include upgrades as home spec can vary.
The Hyde Housing Group Making a lasting difference, Working with Local Authorities The Hyde Group is an award winning provider of homes and makes a significant contribution to meeting housing needs and improving people’s quality of life. Hyde is one of the largest housing associations working in England, owning or managing circa 50,000 homes with a focus on London, Kent and the South Coast of England. Hyde built high quality new homes for 4,413 people in 2014/15. Of these, 83% pay a subsidised price, with 3,643 people housed in a new Hyde affordable home. Hyde is acutely aware of the housing crisis in the UK. A continuing decline in levels of house building, combined with increased demand, particularly within London and the south east of England, has increased housing costs significantly and impacted on local economies. Members of our team will be at MIPIM 2015 promoting New Challenges; New Partnering Solutions our Local Authority Offer launched earlier this year.
CGI of proposed Hyde HA Development in Harrow, London
Hyde is committed to tackling the housing shortage and reducing some of these impacts by: • Developing 1,000 mixed tenure homes a year with a focus on increasing this further • Delivering quality management services across all tenures and uses • Maximising life chances for residents through Hyde Plus’ support service • Retaining a strong financial covenant and commitment to invest for the future
We believe that the answer to delivering more homes, particularly ones that are affordable or are available for low cost ownership, is to work collaboratively with local authorities. A partnership approach allows local authorities to match their assets with our experience of mixed tenure development and regeneration, to create housing and communities in the most cost-effective and sustainable way. True partnerships can be achieved in a number of ways: • A joint venture model with sharing of risk and reward • Sharing the build programme: Hyde develops and sells the commercial elements of a mixed tenure scheme and the local authority develops and retains some or all of the affordable/social homes, to deliver an ongoing revenue • Hyde acts as the development and/or sales agent for the local authority • Traditional regeneration projects • Stock transfer opportunities
We have the financial capacity, A1 Moody’s credit rating and the highest validation from the Homes and Communities Agency. Equally, our reputation for innovation and creativity in designing new solutions for delivering affordable homes means we are an ideal partner for local authorities. We are committed to communities and places for the long term, supporting our developments with high quality, coordinated management services. These core objectives as a registered provider distinguish us from other market housing developers. We are open to ideas, so let’s do more to work together, pooling resources, ideas and ambitions, to create homes for people that need them the most.
We look forward to working with you in the future. To arrange a meeting, please contact: Simon Vevers Development Director, Regeneration simon.vevers@hyde-housing.co.uk Tom Shaw Development Director, South Coast tom.shaw@hyde-housing.co.uk Mike Johnson Development Director, London and Kent mike.johnson2@hyde-housing.co.uk
26 armchair gardener
Find your new home at whathouse.com/new-homes
It’s all going to pot... Use pots or containers filled with flowering plants, herbs or vegetables to brighten up your garden, says Richenda Oldham
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T
h ere are many advantages to growing plants in containers. The biggest benefit undoubtedly is that you can move the plant to anywhere you choose, which is particularly useful if the plant needs shade or sun.
CHOOSING A POT OR PLANTER You’ll be spoilt for choice when looking for a plant container. Make sure that whatever you choose is large enough for the plant and has a hole in the bottom to allow drainage. Pick a style that suits the style of your garden and check that any terracotta pots you pick are frost-proof. Although plastic containers are inexpensive and retain moisture, you will need to protect roots in the winter from freezing. Bear in mind the final weight of a fully planted pot, which will be harder to move. If you are worried about being able to move your pots around, choose lightweight containers, such as resin, fibreglass and plastic, which are not so porous.
PLANTING UP Choose your planting mix carefully, as it must be capable of holding water and yet porous enough to drain well. There are plenty of commercial multipurpose potting mixes to choose from and you can improve them by adding water-retaining crystals, which provide water when the plant needs it. Don’t use soil from the garden, as it can have weed seeds, insects and fungal diseases. To prevent the compost from blocking the hole at the base of the pot, cover it with a layer of broken terracotta shards. You can also purchase terracotta feet to raise pots off the ground when you display them on a patio, which will aid drainage and stop moisture building up at the roots.
3 4
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CARING FOR YOUR PLANTS Plants that are grown in containers will need frequent watering to prevent them drying out. You will also need to feed the soil, as watering will wash the plant food away.
HERE ARE SOME IDEAS TO GET YOU STARTED: • Glazed pots • Stone pots • Wooden tub planters • Zinc double handled troughs • Painted terracotta containers or pots
• Galvanised metal pots • Concrete urns • Copper bowls • Ceramic pots • Wooden crates
1. Dutch courage:blue and white painted terracotta flower pots with crackle glaze finish, £6.50, www.berryred. co.uk 2. Trio treat:triple flower pot with embossed hearts, £15.99, www.retreat-home.com jardiniere; 3. Boxing clever:personalised raised planter crate, £59.95, www.plantabox.co.uk; 4. Classical ornament:Victorian jardiniere, £799, www.haddonstone.com; 5. Clipped-art:set of three rattan planters, £149, www.livingitup.co.uk;
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HOW SMALL CHANGE COULD MAKE YOU BIG RETURNS There aren’t many investment opportunities with a 2,000 year old heritage. But this is a coin with the seal of approval from the first Emperor of Rome. It is a gold ‘Aureus’ struck in 15-13 BC, featuring both Augustus, the Emperor and a butting bull. This Augustan Aureus is priced at £32,000. In 2013 an Aureus from 15-13 BC was auctioned for US $425,500, 227% up on its $130,000 estimate. Another, with a unique heifer design, sold for £300,000 in 2014. Uncorrelated with other asset classes, rare coins and stamps provide several thousand Stanley Gibbons Investment clients with strong portfolio diversification and the potential for capital growth.
To find out more call 0845 026 7170 or visit sginvest.co.uk/whathouse The value of your investment can go down as well as up and you may not get back what you put in. Stamps and certain other collectibles are not designated investments for the purposes of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 and as such are not subject to regulation by the Financial Conduct Authority (FCA) or otherwise. Stanley Gibbons Investment does not provide valuations.
For the latest on the property market
interiors 29
@What_House
Super sleek and boldly eye-catching, the Rococo kitchen from Crown Imperial is a contemporary design that features a non-reflective finish, which is soft yet extremely durable. The twin islands help create an informal dining area, www.crown-imperial.co.uk
The Casa kitchen, shown here in grey, is a mixture of contemporary and country, with stylish practical details such as curved corner units. Schüller kitchens are available from www.inhouseuk.net A combination of ash heartwood veneer and Arctic White soft lacquer give this modern Cadre kitchen both warmth and panache, www.rational.de/en
A sophisticated blend of light and dark shades gives this traditional handmade The Vao kitchen by Team7 is an example of how a traditional material such as wood can be used to great effect in a kitchen an individual, but welcoming feel. Mixing and matching is a popular modern kitchen. An absence of handles contributes to the clean lines of the cabinets, www.wharfside.co.uk trend as it helps to give an unfitted feel to a kitchen, www.rencraft.co.uk
Puttin’ on the glitz Richenda Oldham checks out what’s cool in kitchens...
K
i tchens are just for cooking in, right? Well no, not any more. The modern kitchen has evolved from being a strictly utilitarianarea where meals were prepared and then served elsewhere to a central living hub, where the whole family can congregate to relax, watch television, talk and even work. This new identity for kitchens reflects the busy lifestyle of homeowners, for whom meals have less significance than they did 20 years ago. As such, kitchens
are larger to accommodate living areas, which feature tables and islands as well as sofas and chairs and designated work areas, as the trend for flexible working increases. There is a definite move towards more environmentally friendly kitchens, which use recycled materials and for sleeker, streamlined designs in a more open setting. Because kitchens have become much more of a living space, their design has become even more significant, with a leaning towards a more sophisticated look overall.
MINIMALISM Minimalism has become a particularly dominant theme, featuring kitchens with clean lines and natural materials. Details such as hidden handles and extremely discreet push mechanisms aid this move to an uncluttered space. Timber panels and natural flooring are key features.
MONOCHROME Classy and understated is one of the top trends, with natural tones, greys and creamy neutrals. This is offset
perfectly by warm metallics, such as bronze, copper and brushed nickel, and natural flooring such as slate or wide timber planks. Colours to choose include charcoal, grey, buttermilk or earthy browns.
COLOUR There are plenty of big bold colourful kitchen designs around. Plus using a combination of different colours is bang on trend and can give your kitchen a modern, updated look. Try dark wood and white cabinetry or cabinets painted
in different colours. For example, an island painted a darker tone than the rest of the units.
LIGHTING There are plenty of big bold colourful kitchen designs around. Plus using a combination of different colours is bang on trend and can give your kitchen a modern, updated look. Try dark wood and white cabinetry or cabinets painted in different colours. For example, an island painted a darker tone than the rest of the units.
30 interiors
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Say it with flowers From bold prints to delicate sprigs, choose floral accessories to give your home a spring boost, says Richenda Oldham Blooming marvellous...with its pink flowers and green leaves this cherry blossom wreath will bring spring into your home, £35, www.tch.net
Floral notes...summer meadow flowers transform this birchwood tray into a work of art, £28, www.berryred.co.uk Lavender blue, dilly dilly...the scent of freshly picked lavender flowers will melt all your troubles away; lavender scented candle, £8.50, www.kiss-air.com
Coming up roses...this gorgeous Polly Pink Rose and Taupe floral cushion would look equally fabulous in a country cottage or a town house, £25, www. giftwrappedandgorgeous.com Paperchase posies...these pretty floral paperchains are a charming alternative to bunting - makes up to 10 metres of decorations when assembled, £5.99, www.oakroomshop.co.uk
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interiors
31
And the little one said “Roll over...”
Children need more dedicated storage room as they grow older, so a bed with built-in storage underneath is ideal; Clamber Doodle bed, £1195, www.loaf.com
It’s good to plan ahead when buying a bunk bed – choose a design that can convert into two single beds ready for when the bunk beds are no longer required; Stowford bunk, £595, www.aspace.co.uk
Paint the walls of your child’s room in neutral colours and then use colourful wall stickers that can be peeled off when no longer required; London Bus and Taxi wall border, £22, www.kokokids.com
For many children, their bedroom is their special den, so make it as fabulous as possible with fun accessories that will inspire them; Buddy Whale rug, £189, www.kelaty.com
Richenda Oldham consults her inner child on how to create cool bedrooms for children
D
esigning a bedroom for your child has to be one of the best parts of being a parent. This is a strictly-for-fun job, whether you are creating a nursery for a baby or hangout space for an older child. While nursery furniture and cots for babies are adorable and almost irresistible, do try to remember that babies grow up fast; a cute, tiny bunny-painted chest of drawers and matching chair will not meet the needs of an active six-year old. So if you do want to indulge yourself with a fullblown nursery, budget for a makeover in least five years’ time...
Although pastels are adorable for the new addition, brighter, bolder accessories are funkier and more likely to be appreciated by an older child.
COLOUR
BEDS
When choosing colours for walls, try not to get too hung up on pink for girls and blue for boys. It is perfectly acceptable to paint the walls a neutral shade and then add colour through accessories, such as curtains, cushions, rugs and furniture.
It’s easy to see why bunk beds are so popular when many children’s bedrooms are often the smallest room in the house. Plus, children love sleeping up high, and if they don’t share the room with a sibling, it makes inviting friends for a sleepover
ARTWORK Wall stickers are brilliant for adding instant interest without the cost or commitment of wallpaper and can be removed without damaging the paint beneath. Try to discourage posters stuck to the walls with Blu-Tack, which will pull the paint off. Instead, encourage children to display their posters or artwork in frames, which can be bought inexpensively from many large supermarkets or DIY stores.
much easier. Cabin beds and high sleepers are practical space savers (as well as lots of fun) and can come with desks, storage and seating, all within the footprint of the bed. Alternatively, there are some amazing bed designs to choose from, including castles, racing cars, caravans, camper vans, tents, forts...
FINISHING TOUCHES Good storage is essential if you are to maintain any sense of order in your child’s bedroom as they grow older and accumulate more stuff. Colourful baskets can be used to pack away toys and books – put them either beneath a standard single bed or in a corner. Themed duvet sets are excellent for creating a new theme without committing to redecorating the whole room. Use blackboard paint on a section of wall to make an area where you child can express their ideas in chalk. Memo boards are also good for displaying a child’s treasures.
This enchanting caravan bed comes complete with a canvas roof and opening door, £1295, www.idyllhome.co.uk
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34 surrey
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For the latest on the property market
Bourne this way Buy one of Millgate’s new homes on the outskirts of Farnham and you may find yourself in familiar territory...
L
u xury homebuilder Millgate is returning to the Surrey town of Farnham with a new, exclusive development due for release in May 2015. Highcroft is a collection of three high-specification five-bedroom detached homes in the verdant Bourne Wood area to the south of the town. Though the show home is not going to be ready for a few weeks, the properties are currently available offplan from £2m. The Bourne Wood area could be described as a ‘film star’, appearing regularly on the big and small screen. From It Ain’t Half Hot Mum to Harry Potter via Gladiator and Sherlock Holmes, the woods have hosted them all, netting the Forestry Commission more than £650,000 over the past 14 years alone. It is also a haven for bird
species such as nightjar, tree pipit and the Dartford warbler. Jonathan Cranley, sales and marketing director of Millgate, explains: “After the tremendous success of our previous development, Tattingstone, we are very eager to return to Farnham, bringing forth a superior collection of homes that mirror the adjacent Georgian properties in the area. “Understanding Bourne Wood’s popularity as a film location only increases the rare exclusivity to live in this area. It’s a truly idyllic location and we are proud of its filmmaking fame.” Edgerton House has a Georgianinspired design. The three-storey detached house is set within south-facing landscaped gardens. Neighbouring Beaufort House and Glenwood House have their own
unique designs but share an enviable specification including bespoke kitchens with hand-painted floor and wall cabinets together, granite and composite stonework surfaces, farmhouse sinks and high-quality integrated appliances. Farnham’s range of boutique shops and high street brand stores provides for everyday needs, also boasting regular farmers’ markets as well as large superstores – plenty to satisfy all but the most demanding shopper.
The array of bars, cafés and restaurants around the town centre provide a great choice for the town’s residents. In addition to Bourne Wood, Farnham benefits from a number of scenic and historic areas. Farnham’s 12th-century castle has an adjoining 320-acre deer park while Frensham Common and Alice Holt Forest are both within easy reach, ideal for walking, riding and cycling. There is even sailing available on Frensham Ponds and the area is blessed with
numerous high-quality golf courses. Farnham is ideally situated for the commuter, with its main line station just eight minutes away from Highcroft, and journeys into London Waterloo taking just 54 minutes. On the boundary between Surrey and Hampshire, Farnham is just 12 miles from Guildford and 29 miles from Winchester, with connections to many destinations on the A3, A31 and M3. Find out more at www.millgatehomes.co.uk; 01252 821102
LIME WALK WEMBLEY
SHOW HOME NOW OPEN LIME WALK COMPRISES A CONTEMPORARY COLLECTION OF 1, 2 & 3 BEDROOM APARTMENTS • Intelligently designed layouts offering a fantastic specification
• A 5 min walk from Wembley Park Station with links to the West End within 30 mins on the Jubilee line*
• Moments from Wembley Stadium, the SSE Arena and the London Designer Outlet
• Less than a mile from Fryent Country Park offering 254 acres of open space*
Prices from £280,000† Flexible buying options available Marketing Suite & Show Home open Thursday to Monday, 10am to 5pm, Sunday 10am - 4pm Viewings by appointment only
networkliving.co.uk
0203 667 1516
LIME-WALK.CO.UK
Computer generated image of Lime Walk. Internal images of previous Network Living developments. *Travel times and distances approximate only taken from Google maps and TFL. †Prices correct at time of press.
36 surrey
More news and interviews at whathouse.com/news
Agent insight We speak to James Quantrell of Winkworth in Guildford
sought-after location. Guildford boasts excellent shops, some of the best schools in the country, top notch eateries and a varied nightlife and cultural scene. What types of property is Guildford known for? Guildford and its surrounding villages offer homes to suit every taste, from pretty period houses and cottages in villages such as Shere, Shamley Green, Puttenham, Shalford, Wonersh and Hascombe to cottages and larger Victorian housesin the Charlotteville, Warren Road and Waterden Road conservation areas. You’ll also find 1920s homes in Ganghill, lovely Victorian homes close to the town centre and train station, 1950s, 60s and 70s homes in Burpham and Merrow, and more modern infill developments throughout the town.
Could you please give us a brief introduction to the property market in Guildford? Guildford has a strong selection of different property types across a
significant price range. Nestled in the lush Surrey countryside but within easy commuting distance to London, it’s easy to see why the town is such a desirable and
What types of properties do you sell and let? At Winkworth we sell the more desirable properties, including everything from exclusive one-bedroom apartments to an eight-bedroom country home with 20 acres of land.
How much do properties typically cost to buy and rent? House prices in Guildford generally start from £400,000 for a twobedroom home. On the lettings side, properties start from about £1,200 per month for a one- or twobedroom apartment. What are the current market trends in Guildford? A third of buyers above the £1.5m mark come from London, with international buyers only making up 5% of the market. Most of the local buyers have come from London in the past and have been here for a few years. Local Guildfordians are starting to move out towards Godalming, Cranleigh and further afield. Upsizing here accounts for 55% of the market, with just 8% of buyers downsizing. Based on data since 2012, properties priced £750,000-£1.5m make up 54% of the market. Which areas in and around the town are particularly popular at the moment? The roads to the south of the town centre with views over Pewley Hill and Pewley Common are the most desirable – particularly Warwicks
l a n t a n a estates sales
lettings
* 1 & 2 b e d ro o m a p a r t m e n t s n o w a v a i l a b l e t o re s e r v e ‘ o ff p l a n ’ a t Tr a m w a y P a t h , M i t c h a m . Completion Summer 2015. E n q u i re N o w.
Bench and Warwicks Bench Road. These rarely come up, and when they do we normally sell them for above market value within days. Where should investors be looking to buy property? Investors should look to Victorian properties within walking distance of the train station. These types of homes normally rent out for over £1,500 per month, giving good yields and capital growth. What do you expect to see happen in the local market during 2015? I expect to see steady price increases at a similar level to those last year. As the London market cools, Guildford will get more expensive. Buyers want more value for money and don’t mind the commute to London as long as they are within the ‘golden hour’. The great private and state schools here, combined with the A3 road to London and the coast makes Guildford a number one choice for many buyers moving out of the city. Find out more at www.winkworth.co.uk; 01483 339977
PHASE II NOW OPEN DON’T MISS OUT - VISIT US TODAY
A SELECT DEVELOPMENT OF 1, 2, 3 & 4 BEDROOM HOMES WOODPECKER CRESCENT, BURGESS HILL, WEST SUSSEX RH15 9XY
0333 321 8903
thecoppice@croudacehomes.co.uk
The Ashurst, 4 Bedroom Home
The Clayton, 4 Bedroom Home
A SELECT DEVELOPMENT OF 3, 4 & 5 BEDROOM HOMES CUCKFIELD ROAD, HURSTPIERPOINT, WEST SUSSEX BN6 9SD
0333 321 8656
chalkersvale@croudacehomes.co.uk All imagery is illustrative and may vary from shown. *Available incentives are subject to reservation criteria, scheme approval and restrictions (including the Government Help to Buy scheme) and can be development specific, please ask our Sales Consultants for more information.
HELP TO BUY SCHEME AVAILABLE*
38 sussex
Find your new home at whathouse.com/new-homes Sian Jenkins of Show Business Interiors talks through the show home:
Show home highlights family appeal of a new home in Etchingham Professional designer styles five-bedroom house at new East Sussex village development
T
h e High Weald of Kent and Sussex is a beautiful area to visit and an advantageous place to live, since it combines mile after mile of scenic countryside with some very convenient transport links. Etchingham is no exception, a small settlement near the East Sussex/ Kent border, surrounded by fields and woods but with its own Victorian station providing regular services to Charing Cross and Hastings. It’s an idyllic setting for many who
have grown up in the countryside and also for those looking to escape life in London but who need access to it. Millwood Designer Homes is tapping into both markets with Parsonage Croft, its collection of 21 new homes on the edge of Etchingham. The selection of three-, four- and five-bedroom homes being offered by the award-winning housebuilder are due to complete spring/summer this year. Already, a number have been reserved from the original release, so
opportunities to secure the size and type of house to meet your needs are beginning to diminish. The great news for buyers with young families is that the development is going up next to the new primary school, which is replacing the old village school, and is on the doorstep of a new community hall, village green and landscaped village square. The show home is open Thursday through to Monday each week, from 10.00am to 5.00pm. Prices start at around £350,000.
“The minute that you enter the hallway, you feel the space that this home offers. The separate dining room has a beautiful mango wood dining table which seats eight and is dressed for dinner in a casual, country style, as well as a solidwood dresser unit painted in a soft ivory tone. “The contemporary, high-gloss kitchen with granite worktops has a breakfast island with three feature pendant drop lights above, to visually divide the large space. Open-plan, it features a breakfast area with a beautiful solid-wood painted sideboard, a large dining table for informal family meals, and an occasional linen chair for reading and admiring the views of the garden. “The living room is soft and welcoming, with a large fourseater traditional-style sofa in a wide-stripe linen fabric, which co-ordinates with the curtains and pelmets, and a bespoke upholstered footstool/coffee table to the centre of the room. To the front of the room, a deep-buttoned linen Chesterfield sofa has a collection of cushions in contrasting fabrics and soft tones, inviting you to take your shoes off, sit back and relax.
“The fireplace and woodburning stove are wonderful features in the room, and we’ve emphasised this with a textured wallpaper on the surrounding wall, while the occasional furniture is finished in a tonal paint effect. The crystal light fittings enhance the quality feel to this living room. “Upstairs, the bedrooms are all very spacious. We have designed the master bedroom with an understated elegance, wallpapered in a timeless design. The bed has a bespoke winged headboard in a nude sandy-pink tone, with elegant bedside tables and a co-ordinating double chest of drawers. The bed linen is soft ivory and champagne tones. “This is a wonderful family home and gives potential buyers the opportunity to see the high specification and quality of build that you can expect from all of the homes at Parsonage Croft. Hopefully, our creative interior designs also give you some inspiration as to how you could dress your new home.” To find out more, visit www.parsonagecroft.com; 01580 388007
B UY YOUR DREA M HOM E WI TH J U ST A 5% DEPOSIT USING HELP TO BUY* s on
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H I G H S T R E E T, E T C H I N G H A M
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PARSONAGE CROFT
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TN19 7AD
3 bedroom family homes priced from £350,000 *(Example: £350,000 less Help to Buy at 20% equals just £280,000)
Over 50% Reserved - A delightful collection of 3, 4 & 5 bedroom homes in the picturesque village of Etchingham Show Home Open Thursday - Monday 11am - 5pm Call 01580 388007 | www.parsonagecroft.com
Help To Buy is subject to scheme rules
40 sussex
Find your new home at whathouse.com/new-homes
Rural living
Browndown • £695,000 A pretty threebedroom Grade II listed thatched cottage near Old Heathfield with approximately 21 acres of land, plus a barn and stables. Dating back to the 17th century, this picturesque cottage is located just over half a mile down a private driveway. There is also scope for development, with planning permission for an extension already granted by Wealden District Council.
with BTF Partnership in Heathfield
H
ere, Tim Crundwell at BTF Partnership’s Heathfield office tells us about his favourite rural properties available to purchase right now in East Sussex.
Find out more at www.btfpartnership.co.uk; 01435 864455
Whiterede • £700,000 This beautiful fourbedroom cottage in rural East Sussex is available to purchase for the first time in 50 years. Whiterede is located just outside the village of Five Ashes and is situated approximately 2.5 miles from Mayfield, home to excellent schools and shopping facilities. Originally a farmworker’s cottage, the property boasts a dining room with a wood burning stove, a study with rustic wooden floorboards and a generously sized living room with an inglenook fireplace and inset wood burner.
Hidden Spring • £995,000 An attractive four- or five-bedroom 1930s’ farmhouse set within 22 acres of land near Heathfield. Hidden Spring is currently a working smallholding with campsite and yurts. The business itself is not included in the sale price, but further details are available for those interested in continuing to run it.
Knowledge with the personal touch
Specialists in new homes sales, lettings, management
020 3589 0250
hello@wigmorejones.com
www.wigmorejones.com
42 kent
Find your new home at whathouse.com/new-homes
New luxury barn-style homes come to Kent village
Detached houses combine traditional design with modern spec
H
i llreed Homes has announced the launch of its prestigious new development in Fairseat near Wrotham, Kent. Oakwood Farm comprises eight four- and five-bedroom, barn-style detached homes in Vigo Road, a rural lane dotted with substantial family properties. Each home has been individually designed and sits within a large private garden. Located in a convivial and quiet courtyard setting, this development offers a rare exceptional opportunity to acquire a brand new, substantial property in this setting, just on the edge of the North Downs. Space is one of the prime features of these homes and with accommodation ranging from 2,179 sq ft to 3,016 sq ft, they offer plenty of it for modern family living. Plot 1 (pictured) is a view home, with flooring and light fittings included. This property gives buyers an insight into the stylish approach given to the homes, from the architectural
façade reflecting the Kent vernacular to the quality of the build and the calibre of the fixtures and fittings, which needless to say are bang up to date to meet the demands of homebuyers today. For those reserving a plot at an early stage, there is an opportunity to personalise their property from a wide range of wall and floor tiles, kitchen units and wall colours, to really make their mark on their new home from the moment they move in. The sales office on-site provides many samples of these options, which can be discussed with the sales team. Despite its verdant setting in the heart of the Kent countryside, this newly created retreat offers easy access to major roads such as the M20, M26 and A20 and rail networks (regular services from Borough Green and Wrotham station, under 10 minutes away by car) and is just 25 miles from central London. Jo Richards, head of sales and marketing says: “These particular homes at Fairseat offer the very latest
in 21st-century living wrapped in an architectural envelope of traditional Kent-style architecture, making them highly desirable, so we anticipate a great deal of interest following our launch.”
Purchase assistance is available, including part exchange, whereby Hillreed Homes buys the purchaser’s current home (subject to criteria), and Home Change, an incentive whereby the company works with the estate agent
Search thousands of brand new homes on the UK’s leading new homes portal.
No.1 whathouse.com/new-homes The UK’s leading new homes portal
to promote the sale of a buyer’s current property with the benefit of no fees. Prices at Oakwood Farm currently start from £965,000. Find out more at www.hillreed.co.uk; 01732 823676
o o
Oakwood FARM
Fairseat WROTHAM • KENT • TN15 7LT
Just eight luxury 4 and 5 bedroom homes
Marketing Suite
NOW OPEN
Mill House
Prices from
£965,000 Featuring - luxury fitted kitchens and bathrooms, integrated appliances, large gardens & surrounded by farmland Viewings by appointment only
01622 822505
Farmstead
marketing@hillreed.co.uk
Also at Iwade, Sevenoaks and Kings Hill
Ask us about Part Exchange or our Home Change scheme
www.hillreed.co.uk
44 kent
Find your new home at whathouse.com/new-homes
A life of luxury
Old Cloth Hall, Cranbrook • £2.65m
with Jackson-Stops & Staff
W
hether you’re looking for a classy one-off period property or something with contemporary family living in mind, there is a significant range of options available to you in Kent. This month, the Cranbrook and Sevenoaks branches of estate agent Jackson Stops & Staff share their favourite luxury properties currently on the market in Kent. Contact: www.jackson-stops.co.uk; 01580 720000 (Cranbrook), 01732 740600 (Sevenoaks)
Weavers Cot, Biddenden • £1.95m Weavers Cot is a magnificent country house dating from the early 16th century. The accommodation here extends to 5,000 sq ft over two floors, with spacious and inviting reception rooms, two of which boast splendid inglenook fireplaces. The gardens and grounds are particularly interesting, having been landscaped to provide colour and interest at all times throughout the year.
A magnificent timber-framed Grade II listed residence originating from the 15th century. The well-proportioned and spacious accommodation is arranged over three floors together with a practical cellar below, extending to almost 6,500 sq ft. There is a wealth of splendid period features to the interior, including stunning fireplaces, oak panelling, parquet flooring, leaded light windows and latch doors. Outside, the gardens and grounds are a delight, creating a secluded setting for the property.
Chiddingstone House, Sevenoaks • £3m
Chiddingstone House, built in 2000, offers spacious, light and airy family accommodation with classy flourishes including high ceilings, internal shuttering and cast iron coal effect fires. This expansive property also offers further potential living accommodation in the boarded attic rooms, subject to the necessary planning consents.
FAIRLAWN WARREN ROAD • COOMBE HILL • KINGSTON UPON THAMES
Firgrove Homes present the opportunity to savour elegant living at Fairlawn, an exclusive gated collection of just four beautifully appointed luxury residences benefitting from landscaped gardens, a private meadow and three secure parking spaces per property. Comprising a Victorian mansion sympathetically renovated and converted to two 5/6 bedroom homes and two new detached 4/5 bedroom homes built in complimentary style, these homes blend classic and contemporary and exude quality and style. Two available, prices from £2.5million
elegant living on kingston’s private coombe hill estate
Showhome open Wednesday to Sunday from 11am - 5pm Warren Road, Coombe Hill, Kingston upon Thames KT2 7HY
JOINT SELLING AGENTS A DEVELOPMENT BY
www.firgrovehomes.co.uk
FIR29117 Fairlawn - What House? Magazine CD: 25/11 (created week 49) Size: 168x265mm
020 8947 9393
020 8971 8111
STATION ROAD, AYLESFORD, ME20 7JH
HO ME I T ’S A S M A L L WO RD W ITH A BIG M E A N I N G A stunning new gated development of 4 & 5 bedroom houses in the picturesque village of Aylesford, Kent. Beautifully landscaped with a mixture of imaginatively designed homes Ashlin Quarter is the perfect place to call home.
FOR FURTHER DETAILS AND TO MAKE AN APPOINTMENT
W E B : W W W. A S H L I N Q U A R T E R . C O M / K E N T TEL: 01622 790 090
EMAIL: INFO@ASHLINQUARTER.COM
Help to Buy
MARKETING SUITE/SHOW HOUSE OPENING HOURS, 10AM – 5PM, 7 DAYS A WEEK Prices are correct at time of going to press. Computer Generated Imagery is for illustrative purposes only. Interior pictures are of the show house at Ashlin Quarter, the Blackwell and furnishings are not included. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Available on new build homes up to £600,000 subject to the Government’s ‘Help to Buy’ terms and conditions and only available to customers where a primary mortgage is secured. Not available on second, additional homes, buy-to-let or let-to-buy properties. The equity loan is interest free for the first five years and needs to be a minimum of 10% of the purchase price up to a maximum of 20%. After five years, an annual fee of 1.75% of the outstanding equity loan is charged. This is increased annually at + 1% RPI. Subject to status, terms and conditions apply. 014767 ASHLIN WHAT HOUSE? AD D2 (PRINT).indd 1
07/01/2015 11:20
46 hampshire
Find your new home at whathouse.com/new-homes
Well, well,Wellesley Housebuilder announces release of first phase of Hampshire redevelopment
N
a tional housebuilder Bellway has announced that it will soon be unveiling the initial release of homes at the first phase of building at Wellesley, the name given to the regeneration (or Urban Extension Project as it is formally known) of the 630-acre former Aldershot Garrison site. Bellway at Wellesley will provide 228 new homes, of which 35% will be ‘affordable’ homes. Work started on the site last year and the first homes are scheduled for completion now. There will be a mix of one- and two-bedroom apartments and two- to five-bedroom houses – a range that is sure to attract a diversity of buyers from first-timers to growing families to downsizers. Apartments will have private balconies and every house will come with its own private garden. All homes will have a good internal specification that includes stylish fitted kitchen units and sleek white bathroom fittings. Prices for this first release will be announced nearer launch. In all, the master plan includes
3,850 new homes at Wellesley along with two new primary schools, community and leisure facilities, new play areas, sports fields, allotments, a heritage trail and 270 acres of green space. The development will also see some of the town’s historic and listed military buildings, including Cambridge Military Hospital and Headquarters 4th Division, refurbished and brought back into use as homes and community facilities. Claire McGoldrick, area sales manager for Bellway Homes Thames Valley, remarks: “We’re excited to be involved in such a large-scale project as Wellesley, and especially to be the first to bring new homes to the area. The location is ideal, right in the middle of Farnham, Farnborough and Guildford, meaning residents will never be short of things to do. Aldershot itself is undergoing extensive regeneration at present, and we’re proud to be a part of it.” In fact, the market town of Farnham is just four miles from the new development, and the university town and shopping hub of
historic Guildford is 11 miles away. Nearby Aldershot has plenty of shops of its own, as well as a farmers’ market, leisure park, cinema,
theatre and some excellent sports facilities, including its football stadium, ski centre and numerous amateur clubs. The sixth form college
Thinking of selling your home? Do you know how much your home is really worth? Find out with our FREE valuation service. It’s a quick and easy process that you can carry out online or over the phone. Visit www.whathouse.com/value-my-property/value-myproperty-now or call us now on 01245 835 053.
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£?
in Farnborough will be a draw for buyers with teenage children. To find out more visit www.bellway.co.uk; 0118 933 8020
Artist’s impression. For illustrative purposes only
Prices from
£575,000 Sat Nav: W7 3ST
BentleyCourt UXBRIDGE ROAD
Bentley Court is a new development of nine, 2, 3 and 4 bedroom homes tucked away in a gated court located off Uxbridge Road in Hanwell, Ealing. All the properties have private gardens and parking making this a fabulous environment for London living. For more information please contact Lea Valley Homes
The development is located next to St Mellitus Church, an imposing Gothic style building of the Edwardian period situated in the heart of Hanwell.
E | sales@leavalleyhomes.co.uk W | leavalleyhomes.co.uk
Specification includes Paula Rosa Manhattan kitchens with granite worktop, integrated AEG appliances, flooring throughout, contemporary fully tiled bathrooms and en-suites.
T | 01923 251799
Eight unique Grade II listed 2, 3 and 4 bedroom barns converted to a high specification, retaining many original features. All properties have private gardens with plots 1, 2 and 8 having the added benefit of a paddock.
Prices from £650,000
‘The Barns’ Merton Grange is situated in an idyllic rural location on the edge of Gamlingay in South Cambridgeshire. The approach is via a private drive with far reaching views either side across fields.
Specification includes: Fully fitted kitchens with integrated appliances including range cooker and wine cooler Flooring throughout Contemporary fully tiled bathrooms & en-suites, including vanity units and heated towel rails Oak panelled internal doors with pewter finished handles.
Tel : 01923 251799
Email: sales@leavalleyhomes.co.uk www.leavalleyhomes.co.uk
48 hampshire
Find your new home at whathouse.com/new-homes
Hampshire – a buyer’s guide with Hatchards Homefinders
The Hart District, around Fleet, has been voted Britain’s most desirable place to live, and features a wide range of housing, with modern four-bedroom detached homes selling for around £500,000.
EAST HAMPSHIRE
T
h e prospect of relocating NORTH HAMPSHIRE to a new area can seem intimidating, especially if Those who need to commute daily you’re not yet sure exactly are drawn to this area for the tranquil where you want to live. and unspoilt landscapes, within an Hampshire is one of the UK’s relocation hour of London Waterloo. West of hotspots, with buyers flocking here for Basingstoke, Overton and Whitchurch a more relaxed lifestyle, great schools boasts a range of properties, from thatched cottages to large and excellent transport links. Hatchards Homefinders is an country homes. To the east, villages expert search agent that guides like Rotherwick and Newnham the perfect compromise buyers smoothly through the property offer town and country. market, and here Katie Sutton and between Robbie Massey give us the basics on These detached properties appeal what kinds of homes potential buyers to families needing more space, TLL2300_Layout 1 19/03/2015 13:28 Page 1 and prices are typically around £1.5m. might find around the county.
Buyers can consider the vibrant town of Petersfield for four-bedroom terraces at around £350,000 or detached six-bedroom townhouses for £2m. Surrounding villages such as Froxfield, Steep and East Meon offer beautiful rural properties for under a million. The villages around Alton appeal to commuters. Stunning new-build homes with a traditional feel give buyers the best of both worlds – an energy-efficient property with a period feel. Further down the A31 you reach Alresford, a handsome Georgian town of colour-washed houses, reputable eateries and old-fashioned pubs. The surrounding villages of Cheriton and Beauworth are very appealing and quintessentially English. Rail commuting may take a little longer, but clients who are able to work more
Cambridge 3 seater sofa was £1459 - now £969
flexibly or who don’t need to travel by train are drawn here for rural living, value for money and great schools.
SOUTH HAMPSHIRE Winchester, often nicknamed ‘little London’, is hugely popular with relocators seeking a cosmopolitan lifestyle. This small city has it all: fantastic restaurants, cinema and theatre, endless events, farmers’ markets and concerts in the Cathedral. Winchester is also a popular choice with downsizers who don’t need huge gardens. Housing here varies from Victorian terraces to Georgian mansions, and there are some terrific new developments in the city centre appealing to investors and firsttime buyers. Twyford, Shawford and Hursley offer village life only minutes from central Winchester. These areas offer great local schools and a vibrant social life for young families. Travelling further south brings you through small farming villages like Upham, Owlesbury and Meonstoke to Bishop’s Waltham. Within the triangle of large hospitals, this area is popular with medics who can live close
to work and buy superior properties at London prices.
WEST HAMPSHIRE The New Forest National Park, with 145 miles of wild heathland, is home to secluded hamlets such as Sway, Bramshaw and Brook. These areas cater for those who want to get away from it all, and enjoy walking and sailing. On the coast, you will find the delightful Lymington, which is renowned for its market and fishing. The Test Valley, with Stockbridge at its heart, is a stunning town with specialist shops and galleries. Romsey, a bustling medieval town with a beautiful abbey, boasts properties ranging from three-bedroom terraced houses for £250,000 to four-bedroom detached houses for £650,0s.
Find out more at www.hatchardshomefinders.co.uk; 07958 906150
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If you are searching for the finest hand-built leather upholstery without the usual extravagant price tags, then you need to look no further than the latest Thomas Lloyd brochure. By selling direct from our factory you get furniture at Trade Prices and of a far higher quality than you would from your local shops at similar prices.
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St John’s, Chelmsford
Creating new communities across the South
Inland Homes are currently regenerating areas across the South providing quality homes with an emphasis on design and sustainability. Visit our fabulous range of Showhomes to discover more.
Charterhouse Mews, Chelmsford
DEVELOPMENTS INCLUDE: Carter’s Quay, Poole 1 & 2 bedroom apartments and 2, 3 & 4 bedroom houses
Abbeywood Park, Markyate 1 & 2 bedroom apartments and 2, 3, 4 & 5 bedroom houses
Vista, Drayton Garden Village, West Drayton 2, 3 & 4 bedroom houses
The Comptons, Wooburn Green 1 & 2 bedroom apartments and 3 bedroom houses
St John’s, Chelmsford 2, 3 & 4 bedroom houses
COMING SOON:
Charterhouse Mews, Chelmsford 1 & 2 bedroom apartments and 2 bedroom houses
Carter’s Quay, Poole
Vista, Drayton Garden Village
Alexandra Gardens, Iver 2, 3 & 4 bedroom houses
The Comptons,Wooburn Green
For further details call 01494 762 450 or email sales@inlandhomes.co.uk Showhome open at this development
Please check website for current availability. Computer generated illustrations are indicative only and subject to change.
www.inlandhomes.co.uk
50 help to buy
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Budget 2015: What is the Help to Buy ISA and how does it work?
T
h e Help to Buy ISA was announced by Chancellor George Osborne in this year’s Budget. It’s the latest government plan designed
to aid first-time buyers in their quest to get on to the property ladder. The scheme hopes to build off the back of the success of Help to Buy, by allowing prospective buyers who save up
to £200 a month access to a 25% savings boost provided by the government, up to a maximum of £3,000. These graphics explain the parameters of the scheme and how it works.
How the Help to Buy: ISA will work
First time buyer opens a Help to Buy: ISA
First time buyer makes deposits and government bonus grows
Buyer purchases their first home and government bonus made available 25% government bonus Max £3,000
Max monthly bonus £50
25% government bonus
Max monthly deposit £200
First time buyer savings including tax-free interest
Home purchased The bonus is available on homes up to £450,000 in London, and up to £250,000 outside London
Maximum initial deposit of £1,000
get to the point selling off plan now the point | the upper drive | hove The Point is an elegant boutique development of just eight luxury 1 and 2 bedroom apartments and one stunning 3 bedroom penthouse, all with private outdoor space. Spacious and stylish, each with a luxurious specification which will seduce and delight. Tremendous attention has been paid to every detail and the advanced design, incorporating sustainable energies, will please the most discerning purchaser. Prices from £295,000
01273 829300 e: thepoint@mishonmackay.com w: www.mishonmackay.com Computer generated image is for illustrative purposes only. Exact finishes must be verified.
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investment 51
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Of pensions, conspiracy theories, tax and elephants As pension reforms kick in, finance expert Lawrence Watts considers their implications HOW TO SPOT AN before taking a mind excursion... ELEPHANT
I
t hought it was the right time to discuss pension liberation, announced by George Osborne in last year’s Budget, and coming into force from 6 April this year. From there, my mind wandered to a couple of other linked issues concerning government policy on this issue and how far the lengths to set up tax avoidance schemes have gone. Bear with me!
PENSIONS For years, the default retirement position for any personal pension savings was the pension annuity. You invest a lump sum with a pension company and they promised either a level or increasing pension for the rest of your life, and with the insurance compensation scheme, the annuity was practically guaranteed by government.
In the 1990s, a £100,000 pension fund would buy a level pension of circa £11,400 per year for a 65-yearold life. In 2015, the same lump sum will buy you £4,950. The new position for ‘personal pensions’ is that once you turn 55 (eventually to be 57), you can take 25% of your pensions savings (normally, but sometimes more or less) as tax-free cash (but now called the ‘pension commencement lump sum’ – note the words “tax-free” have disappeared) and the rest you can take as income and pay tax, depending on your marginal rate. If you manage your pension properly, it should pay out an income for life and, on your death, it could provide either an income or lump sum to your spouse and, potentially, to your children. My view is that, for many people, leaving a pension to their children will be a big draw, rather than the current position where the annuity usually dies with you and your spouse/partner. Children will be able to draw on your pension at their rates of tax in their lifetime. This is a significant change. Others will surrender their pension and invest in property. Remember that, apart from the tax-free lump sum, the rest is taxed at 0%, 20%, 40% and 45%. You could spread your taxable income over many years, after taking the tax-free lump sum, to reduce/avoid tax by keeping as close as possible to your lowest possible marginal rate. Or, in other words, try not to take large
lump sums that push you into a higher tax rate. You cannot gift your pension to a lower rate tax-paying spouse. The bigger picture could be for those in public and private sector pension schemes that offer a ‘defined benefit’, inflation-linked, guaranteed pension. Imagine you were offered an inflation-linked pension of £12,000 per year at 60, or a transfer lump sum instead, of say, £450,000 (and that is the roughly the amount of pension savings you would need to buy a £12,000 inflation-linked pension), from which you could take tax-free cash of £112,500, and rightly or wrongly, the temptation to buy that Porsche could be irresistible. Furthermore, you could then arrange to gift some/all of your lump sum to the children on your death. In particular, if you were in ill health and knew your mortality was shortened, wouldn’t you be tempted to take the transfer sum for part of your spouse/ children’s inheritance. (NB Just to be clear, not all public sector schemes will offer a transfer value.) With a lump sum of £112,500, you could certainly put a deposit on a buyto-let or two. You could then take the other £337,500 as income over many years, or leave it be.
THE TRUTH IS OUT THERE.... Now this is where I get all ‘Mulder and Scully’. In the 1990s, high annuity rates also paid high income tax receipts to
government. Furthermore, government legislated to make sure annuity providers backed up their annuities with government gilts. Governments then had a steady source of buyers of gilts and index-linked gilts to finance the fiscal deficit. A government regulator, the Financial Services Authority (as it was back then), was very clear on the importance of annuities and, indeed, indexed-linked annuities seemed to be the default compliance position. As a financial adviser, you needed (and still do) to be very careful before recommending anything but an annuity. Suddenly, annuity rates fall, governments buy up gilts via quantitative easing and annuity rates tumble even further, and so do tax receipts. Governments need tax revenues more than ever and the golden goose is dying. So, what can the Exchequer do? Well, they can let everybody take much of their pension now in lump sums; more tax now, and then change the rules to make annuities look even less attractive. Lo and behold, more tax revenue! Much, much later, when tax receipts drop from pensions income, because everybody bought a Porsche when they first retired, a new parliament will need to come up with another way to take revenue from pensioners. We shall see. Lawrence Watts is a chartered financial planner with HBB. Contact 07982 235543, 01727 862477
So much of pension planning centres round tax planning that reminds me of Samwise Gamgee, who was Frodo’s companion on their Middle Earth jaunt. Sam’s abiding desire was to see the famed Oliphant, which was, it turns out, a gigantic elephant. What can be more ridiculous than a creature with huge ears, a long trunk, a tiny tail and two huge tusks, as big as a house and all grey to boot? How can it be? But I guess if you saw an elephant in a room, it would stick out just a bit and the description would ring true. And so, who would have thought that it was possible to gift earned income offshore to a charity, and actually then receive back capital and a huge chunk of tax. Or indeed, opt to be a film producer and as a “trading” film producer, offset losses against your tax bill. What about setting up a music production company that generates losses that you also offset against income. Who would have thought it possible? You see, explaining a tax scheme can be difficult, but when you see one it’s pretty obvious. Tax avoidance schemes are not illegal, but some do seem a little too ridiculous. When was it okay to donate to charity and get your money back with tax? How could investing always lead to a trading loss?
You can keep in the picture with Veyo Chain View Launching in Spring 2015, Veyo is a comprehensive conveyancing portal that will enable Estate Agents and their clients to view the status of other transactions in the housing chain. Find out more at www.veyo.co.uk
“The portal will offer greater transparency to everyone involved in the sale and transaction of a property�
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Hold on!
pensions 53
Affordable housing specialist warns retirees against investing their pension directly in property
A
s his firm launches a new annuity product, a stark warning has been issued by Andrew Mahon (pictured) of The Equfund Group to people thinking of acting on this year’s pensions reforms by withdrawing their funds to invest in buy-to-let property. Mahon says that while property can be a great provider of income – as long as owners maintain the property and understand the relevant laws – it is simply not a get rich quick scheme any longer. There’s a lot involved with becoming a landlord, he says, that retirees may not have considered: “You need to learn how to fulfil all of your legal responsibilities, including complying with building regulations, tenancy legislation, tenancy deposit protection, gas safety measures and immigration checks – to name but a few.
“It is no longer a simple process letting out property; nowadays there is a heavy administrative burden for landlords and if you fail to fully understand the requirements before purchasing an investment property, you are entering a potential minefield.” He goes on to question whether retirees will make good landlords: “I worry that people who are looking to use their pension pot to invest in buyto-let property might not have the required knowledge. There are currently over 100 different pieces of legislation affecting landlords; unless people are confident that they understand all of their legal obligations, they should reconsider whether buy-to-let is the right option for them.” Mahon raises concerns about the true affordability and financial commitments of buy-to-let in these circumstances: “Unless retired people have a great deal of pension money
to deploy into their investment, they will usually need to take on a buy-tolet mortgage. A retiree will often not have a regular salary to fall back on if the investment goes wrong, therefore there may be dangers in tying up all of your capital in property.” There are major differences between home loans for owneroccupiers and those for investors, he warns: “Buy-to-let mortgages require much heftier deposits; the average buy-to-let loan requires a 25% deposit compared to the standard 10% a purchaser will pay for their own home. If you invest your pension in this way, you could use up most, if not all, of your savings. The Equfund Group has recently launched The Real Estate Annuity Plan (‘Reap’), which offers the benefit of receiving a fixed income without the hassle of taking on landlord responsibilities and risk.
It works by providing people who want a property-based income from their pension savings with the chance to lend their money to an affordable housing provider, which renovates derelict properties to bring them back into habitable use. In return, lenders receive a fixed income at a rate above all of the current traditional insurance- or pension-based annuity plans. Reap is fee-free and offers a flat interest rate of 7% p.a. on the money lent to the renovation programme for an initial five-year period. The entry level is £15,000, which might make Reap an attractive alternative for individuals who are unable or unwilling to commit themselves to a buy-to-let mortgage in their retirement years. Find out more at www.myreap.co.uk; 0151 625 0800
Fantastic Investment Opportunity Prices from £134,995 for a 2 Bedroom Family Home “The Tweed” at Tannery Court, Tasker Street, Walsall, WS1 3QW
Call 0845 873 2888 or email tannerycourt@lioncourthomes.com Tannery Court, 45 - 51 Tasker Street, Walsall WS1 3QN www.lioncourthomes.com
tax 55
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Who wants to be a tax-free millionaire? What’s the truth behind the myth that you can earn a fortune and pay no tax? Lawrence Watts explains...
R
e ading the national headlines, you’d think that no one earning serious money pays a penny in tax. But in among all the talk of offshore accounts and non-doms, is it really possible for a million-pound earner to avoid a hefty tax bill and stay within the law? In actual fact, there are some welltrodden, tax-efficient schemes set up and sponsored by government, which have been around for years. Let’s say your annual earned income is a nice, large round number – £1m, for instance. Your income tax charge (let’s ignore national insurance) is £436,143. It’s a lot of money. But what happens if you invest it as follows...
To start with, you need to have some spare cash. In the first instance, your £1m is invested into an Enterprise Investment Scheme, where you can claim back £300,000 against your tax. Then you invest £200,000 into a venture capital scheme, so that’s another 30% of the amount invested that you can claim back – £60,000. You then invest £100,000 into the Seed Enterprise Investment Scheme and receive £50,000 back in tax. So, the tax returned so far is £410,000. You could then top up your pension and get much of the last remaining bits of tax back. Of course, if you don’t invest wisely, or don’t take advice, you could actually end up losing all your investment and having some genuine
losses to offset against future income. To retain the tax benefit, you have to hold the investment for five years, by which time the investment managers should have set up an exit strategy. So, it could be possible to invest, as above, each year for five years and thereafter annually sell your investments, reinvest the lump sums each year. You receive tax relief again, and all things being equal, it would then be possible to earn £1m per year and hardly ever pay any income tax, ever. Even without any investment growth the annual return is 30% plus. Now that’s what you call a tax play. One word of advice, though do take professional advice before investing in any scheme.
Lawrence Watts is a chartered financial planner with HBB. Contact 07982 235543, 01727 862477
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pensions 57
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Buy-to-let boom ahead? New figures suggest property investment will tempt one in five of those exercising their pension freedom
A
n ew survey has revealed that over one third (38%) of people over 50 are planning to take advantage of new pension freedoms coming into effect this April to access additional funds from their pension pot at 55. And 20% of those planning to withdraw their pension come April are looking to invest in property. That’s the conclusion of a new study carried out by holiday letting specialist holidaycottages.co.uk.
Perhaps not surprisingly, Londoners form one of the largest groups keen to invest some of their pension pot in bricks and mortar. Nearly half (47%) of respondents in the capital looking to withdraw their pension say that property investment is in their plans. A holiday is the preferred intention of just under half (42%) of those looking to access their pension from the age of 55 – which could potentially be good news for those whose plans involve buying a holiday property to let.
Combine these last two findings and it looks like the holiday letting market could be set for a boom, with more holiday homes being bought at the same time as an increase in demand from the over-55s market. Already this year, holidaycottages. co.uk, which manages 2,000 holiday homes across the UK, has seen a 32% hike in bookings compared to this time last year. Even with general uncertainty about the economy ahead of the general election, this suggests the holiday rental market is in good shape. Norfolk is one of the top performing regions, says the firm, with occupancy up 17% compared to this time last year. The south coast has seen an increase in occupancy of 9% year-on-year. Returns can be good, if you pick the right property. With average properties in the South West hovering around the £250,000 mark, the average weekly holiday rental income in Cornwall is £918 per week in peak summer, while Devon holiday cottages booked through the company last summer saw an average income of £901 per week. Further research by holidaycottages. co.uk points buyers in the direction of the ‘right’ property, identifying
the features that will enhance and maximise rental income. A hot tub, for example, can increase revenue by 44%, making them a potentially profitable addition, while pet-friendliness is also in demand – over a third of bookings through the company are from those taking a dog with them. Unsurprisingly, properties with sea or water views can command higher rental income per week, which can result in up to 24% more revenue than the average holiday property. James Morris, director of holidaycottages.co.uk, says: “More often than not, customers are looking to get away to a property which offers a little more luxury than their own home. Hot tubs, swimming pools and open fires are among the features most in demand, and location, of course, plays an important part. “Dog-friendly properties appeal to a wider market of people who like to take their pets on holiday. Wi-Fi, too, is becoming more of a standard feature, and small touches such as welcome packs and local information really help towards encouraging repeat bookings and recommendations. “More and more people, both
domestic and foreign tourists, are choosing the UK for a holiday. With bookings up 32% this year, there is a real opportunity for the holiday letting market. Some of the new properties which joined us in January have already been booked for almost 50% of the year, showing that demand is extremely strong for UK holidays.
To find out more about earning income on a second home financed by your pension fund, visit www.holidaycottages.co.uk; 01237 426256.
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EO - Advert v2.indd 1
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Inspired by tradition
TRADITIONAL CHARACTER, CONTEMPORARY LIVING If you're searching for a new home with traditional charm as well as all the internal features you desire for comfortable, convenient and stylish living, look no further than Hopkins Homes and Hopkins and Moore. We are East Anglia's leading developers, building collections of homes to exceptionally high standards, each one individually designed to complement its setting, be it town, village, countryside or coast.
Call us or visit our website for further information hopkinshomes.co.uk • 01394 446860 Hopkins Homes builds traditional award winning homes throughout Suffolk, Norfolk, Cambridgeshire and Essex
OUR NEW DEVELOPMENT HAS ARRIVED!! SUPERB OFFERS INCLUDING HELP TO BUY AVAILABLE* This much anticipated new development opens 28th February. Consider yourself invited to come along and see the first release of stunning homes available to reserve now. We’re sure you’ll find the perfect home for you.
Timperley Place Church Lane, Deal, CT14 9QG Our Marketing suite opens 28th February to 2nd March from 11am to 6pm
2, 3 and 4 bedroom homes. Prices from £185,000 FOLLOWING THE LAUNCH, MARKETING SUITE OPEN THURSDAY TO MONDAY 11AM TO 6PM. CALL US 01622 626 816† FOR EXCLUSIVE OFFERS VISIT PERSIMMONHOMES.COM Imagery is for illustration purposes only. External elevations including treatments, materials, window positions and sizes are subject to change at any time. *Available for a limited period only, subject to status. Terms and conditions apply, including full asking price. Some offers may be subject to availability and/ or stage of construction, and offers may be withdrawn at any time without notice. This offer may not be available in conjunction with any other promotions or schemes. *The Help to Buy scheme has specific terms and conditions and is subject to affordability criteria as defined by the Homes and Communities Agency. Help to Buy equity scheme is available on all plots in England, with a full purchase price up to £600,000 subject to status. Terms and conditions apply. This scheme is subject to availability and may be withdrawn at any time without notice. Not to be used in conjunction with any other purchase assistance scheme, offer or promotion. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE, YOUR EQUITY LOAN OR OTHER DEBT SECURED ON IT. Full details available on request. †Calls will be charged at fi ve pence per minute from a BT landline and may cost considerably more from mobile and other phones. Contact your service provider for more details. Details correct at time of going to press.
CB THE CROFT AT
BASTON
D E SIG N E D E X C L U SIV E LY F O R T H E O V E R 55 S
Homes from £149,995 with a choice of purchase options including Part Exchange
AwArd w inning Homes built exclusively for tHe over
M
ake your life your own at The Croft at Baston, a stylish development surrounded by beautiful grounds, with a variety of facilities and services close by to suit every lifestyle.
The development consists of 49, one and two bedroom bungalows, as well as three bedroom chalet bungalows for those who want a little extra space.
The Croft at Baston is not just a place to live but a community of like-minded neighbours who enjoy a lifestyle full of possibilities.
The properties by What House? ‘Best Retirement Development’ Winner Larkfleet Homes are located around attractive walkways and gardens, creating a pleasant community environment.
The Croft at Baston, Mayfield Gardens, Baston, Lincolnshire PE6 9QW
www.larkfleethomes.co.uk email baston@larkfleethomes.co.uk
...better, because we care We care about quality
We care about customers
We care about your energy bills
All the homes have been designed to need minimal ongoing maintenance so homeowners can benefit from the independence and security of property ownership without the day-to-day concerns of property upkeep.
A community club house is also on site where residents can enjoy from £149,995 taking part in their own 1 bedroom bungalows hobby, activity groups 2 bedroom bungalows from £179,995 and regular communal 3 bedroom chalet bungalows from £249,995 events.
A new development, built exclusively for the over 55s. Call 07825 275820 for more information.
We care about the environment
We care about the community
55 s What’s more, Larkfleet offers a range of buyer services, to make your move to Baston easy and trouble-free.
Award winning developer
Sales office and showhome open daily 10am – 5pm
auctions 61
More about auctions at whathouse.com/property-auctions
Five ‘golden rules’ of buying at auction I
Auctioneer Paul Bridgeman gives his guide to successful bidding at a property auctions s buying at auction a risky business? It’s a question that is often asked of Paul Bridgeman, auctioneer at Clive Emson Auctioneers in Essex, and his answer is, that with research and restraint, it needn’t be. Bridgeman says: “Business is fundamentally about weighing risk against profit, and with the right knowledge buying property to renovate can be a good bet. “With the credit crunch still fresh in our minds, fortunes can be made and lost with the rise and fall of the property market. High-risk strategies may produce an overnight fortune, while lower-risk strategies can provide a relatively secure income along with capital growth in years to come. “With all signs pointing to a strong recovery and with estate agents reporting of properties selling within days where could be better to search for a property to renovate than auction?”
Clive Emson Auctioneers holds eight five-day auctions a year, stretching from Essex to Cornwall, offering hundreds of lots across southern England. Many of the lots offered require renovation, improvement or have potential for extension, which to a prudent buyer will offer a fantastic opportunity to add value. Bridgeman says: “With the old saying ‘caveat emptor’ (meaning ‘let the buyer beware’) resonating in our minds, many people ask how safe it is to buy a property at auction. You don’t need to be a property professional to buy at auction, but you do need to ensure you are prepared and have done all that a prudent buyer would do before entering into a contract. At the fall of the auctioneer’s gavel, a legal contract is made.” He adds that if you follow the five ‘golden rules’ you could find yourself reaping the rewards of a successful and quick transaction.
01276 408495
RULE 1. Look through the
auctioneer’s catalogue to identify any lots that are of interest. The lot information will provide you with viewing details allowing you to book an appointment. The catalogue will also provide photos, elevations, location plans and, more importantly, a guide price.
RULE 2. Obtain a copy of the
legal documentation. This is the information the seller’s solicitor provides and can include special conditions of sale (which may contain extra fees and cost in addition to the bid price), local authority searches and, in the majority of cases, all the documentation required for making an informed decision on whether to bid or not. It is important to remember that if you are not fully au fait with property law, you should seek independent legal advice from a solicitor or a licensed conveyancer.
RULE 3. If you require a survey,
have this carried out before you commit yourself to a legally binding contract.
RULE 4. If you are successful, you
will have to pay a 10% deposit in cleared funds (or £3,000, whichever is the greater) to the auctioneers at the point of exchange, together with the auction administration fee. If you require finance, again arrange this before committing yourself to the contract.
RULE 5. Arrive on the day of the
auction in plenty of time. You will need to register and obtain a bidding number. Without this you may not be able to bid and may have your bid refused by the auctioneer. Don’t forget to pick up a copy of the addendum (a list of amendments to the catalogue or documentation which will form part of the contract) and finally…relax!
Find out more at www.cliveemson.co.uk; 01245 205778
62 mortgages
Find a great mortage deal at whathouse.com/mortgages
Homeowners outnumber mortgage holders for first time since the 1980s The generational divide is also widening, with the majority of homeowners now 65 or over, says Nick Parkhouse
N
e w data has revealed that the number of people in England who own their homes outright is now higher than the number of people buying with mortgages for the first time since the 1980s. The English Housing Survey has revealed that the balance of ownership in England has tipped in recent years and there are now more owners than mortgage holders. While 7.4 million households in England are outright owners, the figure for mortgagedowners is 6.9 million.
YOUNG PEOPLE MORE LIKELY TO RENT Housing groups have warned of a ‘pricedout generation’ as the figures revealed a widening age divide. The majority of outright owners, 4.5 million households, have a resident aged 65 or over while the proportion of 25- to 34-year-olds who are owner-occupiers has dropped from 59% to 36% over the past 10 years.
Younger people are now increasingly likely to be found in private rented accommodation with just under half of 16- to 34-year-olds now renting from private landlords. The number of people renting has also increased in recent years, with the latest figures showing that 19% of households rent privately and 17% live in rented social housing. Neal Hudson from property consultancy Savills said the change in tenures was probably “a combination of both market and demographic factors, with fewer first-time buyers entering the market and more babyboomers approaching retirement and paying off their mortgage, helped by low mortgage rates”. He added: “The recent pick-up in first time buyer numbers will perhaps slightly slow the trend but will not be sufficient to reverse it. While house prices remain high relative to incomes and housing delivery remains below
required levels, we will continue to see the private rented sector expand.”
WINDING BACK THE CLOCK The National Housing Federation said the figures showed how the younger ‘priced-out’ generation had been hit by the rising market. Chief executive David Orr said: “As house prices continue to rise we’re in danger of winding back the clock on homeownership, with only the privileged few having any hope of affording it. “At the moment people who can’t buy a home have little or no choice but to rent privately, going from one short-term let to another at an ever-escalating cost. We believe that everyone should have a home they can afford, which means having more affordable homes to rent or buy through shared ownership and a private rental market that’s fit for purpose.”
Found a house you love? We’ll find you the perfect mortgage to match. We specialise in all types of mortgages including: • New Home purchases • First time buyers • Remortgaging • House Moves
• Self employed • Landlords • Buy to Let • Specialised bespoke options
whathouse.com/mortgages Prolific Mortgage Finance Ltd is a registered company in England & Wales under company number 06334944. Prolific Mortgage Finance Ltd is an Appointed Representative of Home Counties Mortgage Protection and Finance Ltd who is authorised and regulated by the Financial Conduct Authority. There may be occasions where we may charge a fee which will depend on your circumstances. In these situations we will inform you at an early stage, the fee typically being no more that 1% of the total loan amount.YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED UPON IT. The actual premium for protection products will depend upon individual circumstances. Please ask us for a specific customer illustration be contacting us by completing our enquiry form or telephone the office directly. *The above mentioned products are not regulated by the FCA and accordingly the protection normally afforded does not apply.
We aim to relieve you of as much of the burden as possible Nick Sellick founded Estate Insurance Group to provide a unique property owners insurance product. Since then we have grown with our clients, providing insurance for their ever diversifying business needs. Part of this growth has been delivered by the successful incorporation of Ian Gibson Ltd who have brought with them their considerable experience and knowledge. Our clients include large corporations, SMEs and high net worth individuals. On their behalf we insure: Residential portfolios Commercial premises Sports facilities Shopping Centres Project Developments
General Office Industrial Parks Hotels Investments Abroad and many more
Our goal is to simplify your search for insurance by delivering a consistent, professional and cost effective service, backed up by risk management and advice relevant to your needs.
To find out how we can help you with Property Owners’ insurance, Commercial insurance, Contractors’ All Risk insurance and Environmental insurance contact us on +4420 7939 7200 or email info@eig.biz www.estateinsurancegroup.com