Wigwam Magazine Issue No.9 by wigwampropertynews

ISSUE

No.9

TALKING HOMES WITH PROPERTY INVESTOR MATT SLADE FROM VERTEX INVESTMENT GROUP.

WINTER 2022 wigwampropertynews.co.uk

Wigwam Property News is supported by:

www.optps.co.uk

Specialists in conveyancing, property law and wills

The legal team at Optimum are specialists and experts, so we really know the ins and outs of our area of property law and wills. And because we specialise in these areas, we can focus on the real issues that affect our clients daily: property sales and purchase (residential and commercial), buying land, and drawing up a will. We offer the same approach to all our clients: we listen carefully, we use our expertise to come up with the best course of action for you, and we deal with your issue in a professional and responsive manner, keeping you informed every step of the way. Straightforward legal advice from an experienced law team you can trust.

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From the Editor Welcome to the ninth edition of Wigwam, the only magazine dedicated to property and lifestyle news in Swindon and its wonderful hinterland. We are proud to be in the business of promoting Swindon’s property sector so it is no surprise that we like to praise the town’s estate agents whenever we can. Estate agents sometimes get a bad press, but the Wigwam team can only speak as we find, and our experience is that Swindon’s estate agents are a highly professional and personable bunch. Despite the pandemic, last year was an extremely busy year for estate agents in Swindon. Or maybe it was super busy because of the pandemic, with lockdown forcing many people to reassess the suitability of their homes. So will 2022 see more of the same? For this issue we have enlisted the help of Wigwam sponsors and property experts Optimum, Home Finders, Perry Bishop and Awdry Bailey & Douglas to look into their magnifying glasses and discuss upcoming property trends (see page 14). One thing for sure is that property prices in Swindon will continue to be very accessible compared to just about anywhere else on the M4 corridor and the South West. That’s not to underestimate the challenges faced by first-time buyers, but with a robust job market and decent average salaries, at least the idea of getting on the property market in our town is a dream and not a pipe dream. Jeff King Wigwam Editor

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ISSUE No.9

HIGHLIGHTS

PROPERTY LISTINGS

Wigwam estate agent sponsors Home Finders and Perry Bishop showcase their latest listings.

PROPERTY MARKET PREDICTIONS 2022

Leaders from across the Swindon property sector share their predictions for the coming year.

TALKING HOMES

Property investor and developer Matt Slade on his very personal journey.

EXPERT OPINION

Our expert panel from the property sector in Swindon give their property tips.

WIGWAM PROPERTY NEWS WHY WIGWAM?

Wigwam is an online property magazine that brings you the hottest property news from across Swindon and the surrounding areas.

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How can you get involved with Wigwam Property News? Wigwam is here for the Swindon community to enjoy. There are lots of ways that your business can get involved and here are just some of the ways. Speak to our friendly team for advice on getting the best coverage from Wigwam.

Property News

Featured Property

Expert Opinion

Business Directory

Sharing your news with Wigwam is FREE! Simply send your news story relating to the property market to Wigwam and we’ll upload it to our website and share via our social media channels for you.

We’ll showcase your best properties online, in print and via our social channels, just send us the details and the Wigwam team will do the rest. Result!

Show Wigwam readers why you are the go-to expert in your field through Expert Opinion pieces online, in print and through video.

List your property related business in the Wigwam business directory. There are hundreds of property related businesses in our directory and the listing is free of charge.

Business Reviews

Video Content

E-Newsletter

Advertising

Our lifestyle editors love meeting the local business community and we love writing reviews of your products and services, from beauty salons and day spas to coffee shops and restuarants.

From property tours and product showcases to case studies and expert interviews we can share your property related film and video content. Need help creating video content? We can help.

Advertise your property related business in our digital magazine or on our website and social media channels to give you maximum brand exposure.

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Searching for a new home in Swindon? The Wigwam team are constantly striving to improve both our magazine and digital platforms for readers, users, sponsors and advertisers alike. As part of that journey, we are really excited to announce the launch of a Swindon property search function on the website. For starters you can view a great range of properties to buy and to rent from Wigwam sponsors and we are looking to expand the range of properties we show in the coming months. Swindon offers an oasis of relatively affordable property in the otherwise expensive South West and M4 corridor. Our goal is to become the go-to portal for anybody looking for property in our fabulous town. Watch this space! wigwampropertynews.co.uk/properties

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ISSUE No.9 | 9

swindonhomefinders.com

1 Bed Apartment

To Let.

£925 pcm (£213 pw) Brooklyn House. SN26 7DH A modern and very well presented one-bed apartment situated in the sought after area of Blunsdon Village. This light and airy property comprises of a modern kitchen, living space, shower room and double bedroom. Externally the property benefits from a shared garden. Offroad parking. Gas, electric and water bills are included. No pets. Would suit a single professional. Available 28th February 2022.

Sue Gidney MARLA Managing Director Office. 01793 299135 sue@swindonhomefinders.com

swindonhomefinders.com

3 Bed Home

For Sale.

For Sale £325,000 Mustang Way. SN5 5DY A spacious, detached, family home situated on this modern development in the North of Swindon with great transport links and within close proximity of the Orbital Shopping Centre. Externally the property provides a low maintenance frontage, private and walled rear garden together with a garage and driveway parking. Available with no chain.

Susan Leeburn Director of Sales Office. 01793 299135 susan.leeburn@swindonhomefinders.com

Helping people on the move in Swindon

For Sale 37 Phoebe Way, Oakhurst £315,000

**NO CHAIN** This property has the WOW factor as soon as you step through the front door. The current vendors have updated their home to a high standard. The spacious hallway benefits from bespoke furniture and the oak stair handrails and glass sets this property apart from others.

Contact: Perry Bishop Swindon | 01793 686305 | perrybishop.co.uk

For Sale 11 Constantine Close, Coleview £235,000

**NO CHAIN** A fantastic opportunity to make this property your own. A great size family home situated on a cul de sac in this popular location. *Please note the property doesn't have central heating*

Contact: Perry Bishop Swindon | 01793 686305 | perrybishop.co.uk

PROPERTY NEWS

MARKET PREDICTIONS

WHAT’S IN STORE FOR THE PROPERTY MARKET IN 2022? LEADERS FROM ACROSS THE SWINDON PROPERTY SECTOR SHARE THEIR PREDICTIONS FOR THE COMING YEAR.

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ast year was a bumper year for the UK and Swindon property markets despite the pandemic and post-Brexit economic uncertainty. Wigwam sat down with sponsors Swindon Home Finders, Perry Bishop, Optimum and Awdry Bailey & Douglas to discuss potential trends for 2022. What will happen to the property market this year? We are excited to see where the market in 2022 takes us. As always there are very much two camps on the sales front. Positive estate agents believe that the market will continue to grow and house prices will stay strong, in particular whilst there is a lack of property entering the market place. Mortgage provider Halifax has just released their findings for the 2021 market with house prices rising by 9.8% for the year, the steepest increase since 1997. The less optimistic agents believe the market cannot continue to grow and with real pressure on our household budgets uncertainty may creep back in and the market may stall. (Susan) A less frantic and calmer market as many people considering a move did so and accelerated their plans post lockdowns and stimulated by the stamp duty savings. I suspect some people put off from craziness will enter the market once more and now have a calmer move. (Phillip) We would anticipate stabilisation following the Stamp Duty Land Tax holidays. (Iain)

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A buoyant market is expected to continue into 2022. (Jas) Will prices continue to rise in 2022? Predicted increase of 6% mostly led by lack of supply and not enough people moving, plus more money in the economy (Phillip). We’re anticipating the prices to stable out as more vendors decide to market their properties (Jas). Probably, reflecting inflation, and assuming continuing buyer demand for those relocating on the back of remote working (Iain). What are the factors that will have an impact on the market? Lack of people moving will keep prices high and stimulate growth, people will still be evaluating their life and lifestyle from the pandemic (Phillip). As more properties become available this should in turn determine property prices stabling out as buyers will have more choice (Jas). The usual factors: supply, interest rates and inflation (Iain). Will there be much regional variation? Trend to move away from the expensive South East will likely continue and people not being so dependent on access to a place of work with work flexibility and work from home continuing (Phillip).

London trends seem to filter down the M4 corridor to the South West region (Jas). In all probability, as there will always be hotspots across the country (Iain). Will the Swindon market follow national trends? We are certainly aware the demand remains strong from potential buyers, in particular within the Swindon area and surrounding villages and we would therefore be delighted to hear from anyone thinking of selling. We have buyers registered, listed and waiting (Susan). We expect this, parts of the north have seen greater inflation in property prices but had further potential and coming from a lower starting point (Phillip). The South West is considered one of the most sought-after regions for prospective buyers in the UK (Jas). We can’t be certain, but the Swindon market is likely to follow general trends although no doubt local factors will also have an influence (Iain). Will the balance between sales and lettings change? The lettings market remains at an all-time high. Swindon has attracted two major new employers to the town and potential employees are following. Amazon’s new fulfilment centre and Panattoni taking over Honda’s site has brought

new energy to the town and a shortage of temporary housing for those looking to rent and, in the longer term, those looking to buy. There is a nationwide shortage of properties to rent with many landlords/investors choosing to exit the market, and tenants choosing not to move as regularly (we are seeing the average length of tenancy over the last 18 months rise from 30 to 40 months), and so this shortage is being more keenly felt in Swindon with the influx of people moving to the town, and looking for rental accommodation. Across our portfolio of rental properties in and around the Swindon area we are seeing an average increase in rents over the last 12 months of 9%. (Susan) The trend of long-term renting is continuing, some lifestyle and most economic reasons for mortgage deposit availability but the bank of mum and dad will help again as people are getting a low return on savings. (Phillip)

Iain Mason Head of Legal Optimum Professional Services imason@optps.co.uk optps.co.uk

Jas Chahal Residential Conveyancer Awdry Bailey & Douglas Solicitors jas.chahal@awdrys.co.uk awdrys.co.uk

Phillip Bishop Managing Director Perry Bishop phillipbishop@perrybishop.co.uk perrybishop.co.uk

This depends on market forces and availability of funds. If interest rates stay low, we would assume that most people will want to buy if they can afford to. (Iain) Susan Leeburn Director of Sales Swindon Home Finders Office. 01793 299135 swindonhomefinders.com

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LIFESTYLE INSWINDON BID

COTSWOLDS MARKETS COMING TO SWINDON TOWN CENTRE SOON A TASTE OF THE COTSWOLDS IS COMING TO SWINDON IN 2022, AS TOWN CENTRE MANAGEMENT COMPANY INSWINDON BID BRINGS COTSWOLD MARKETS TO THE HEART OF THE TOWN’S RETAIL ZONE. A Retail Market will run on Thursdays and Saturdays, along with a Farmers & Fine Food Market on the third Friday of each month. It will have up to 45 stalls, with some regulars and others rotating, promising to offer something for everyone and something new each time. Anita Bellinger, executive director of inSwindon BID, said: “A town centre street market has long been on the wish list of many local residents and businesses." “We’re delighted to be bringing markets back to Swindon Town Centre. We know that there’s a great and long-awaited demand from residents and local businesses." “It will be operated by Cotswold Markets Ltd., who are known for high-quality stalls which people travel to visit". 16 | ISSUE No.9

“There will be a wide range of stalls, including new ones that haven’t run in other locations, so Swindon will have a completely fresh offer."

“Future expansion could include a monthly Arts & Crafts Market, plus the opportunity for Food Festivals, Night Markets and a Victorian Christmas Market."

“Along with other work we’re doing, it will help to attract shoppers from Swindon and further afield, which will be fantastic for local businesses."

“There’s such great potential, as there is for the whole of the Town Centre.”

“A market will be a huge benefit to the Town Centre and is part of our ongoing work to enhance the BID area and increase footfall. It’s been made possible thanks to support for our proposal from the Towns Fund Board who administrate the Towns Fund, a Government scheme to encourage sustainable economic regeneration." “Other benefits will include job creation, stimulating the local economy, and an infrastructure for new and small businesses to grow." “Wharf Green is the perfect site. It’s easily accessible and the markets will be just one of the regular activities we’ll have happening there."

Dave Joynes from Cotswold Markets Ltd. said: “Cotswold Markets Ltd. are delighted to be working alongside inSwindon BID to bring markets back to this historic market town." “This is a really exciting opportunity for us to work alongside the BID and bring our 40 years of experience from operating markets in Cheltenham, Cirencester, Moreton-inMarsh, Fairford, Tewkesbury and Worcester to establish successful markets in Swindon.” Potential traders should contact Cotswold Markets through their website. cotswoldmarkets.com

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PROPERTY NEWS MONEY

TOP 5 TIPS TO SAVE FOR A DEPOSIT THE FIRST THING TO DO WHEN SAVING FOR A HOUSE DEPOSIT IS TO SET YOURSELF A TARGET. Have you ever asked yourself how to save for a deposit? or how much is a deposit for a house? If so, we're here with some useful 'saving for a mortgage' tips. The average UK homeowner puts down a 15% deposit on their first property although the minimum deposit for a house in the UK is usually 5%. 1. Set a goal and stick to it The first thing to do when saving for a house deposit is to set yourself a target. If you’re wondering ‘how much deposit do I need?’ then online mortgage calculators are useful to broadly find out how much you can afford to spend on a house. Once you have that figure you can work out your options for a deposit. As a general rule of thumb, if you are able to save for a larger deposit, therefore lowering your mortgage LTV (loan to value) percentage, you’ll have access to lower interest rates from your mortgage provider. Once you’ve worked out how much you need to save in total, it could be a good option to calculate a monthly target, based on what you can afford and how quickly you want to reach your goal. Most banking apps have functions to assist with your savings goals or speak to your bank to set this up. Set up a standing order to transfer money to your savings on pay day – before you can spend it! 2. Analyse your finances If your savings pot isn’t growing as rapidly as you would like, it may be time to give your incomings and outgoings a quick health check.

Look at how much is coming in and how much you are spending each month. If there isn’t much left over to save, you may want to look closely at whether you can cut down on your ‘non-essential’ expenditure. When it comes to the best way to save for a house there is no one size fits all approach – it’s dependant on your individual lifestyle but generally there will be areas you can cut back. Can you take your lunch to work and cut out your daily take-away coffee? Do you really need all five of those streaming subscriptions? Can you start swishing your clothes instead of buying a new outfit every month? A few key changes to your consumer habits could really see your savings start to mount up. There may be even bigger lifestyle changes you could make – can you move in with a friend or your parents while you save, or forego a holiday for a year or two? Once you’ve started making changes and feel the satisfaction of seeing your savings pot grow, you may find you’re willing to modify your spending habits even further. 3. Can you maximise your income? This may not be an option for everyone, but have you ever considered whether there are ways you could make a little extra cash in your spare time? According to a recent survey by 118 118 Money, almost 68% of employed UK adults have a side business to make additional money on top of their day job. The researchers also investigated the most profitable ‘side hustles’ and those which came out on top were: 1. Podcasting 2. Selling handmade candles 3. Renting out 4. Blogging 5. Selling soft furnishings

4. Is there other help available? For first time buyers of newly built homes the Government-backed Help to Buy Equity Loan scheme can provide a helping hand onto the property ladder, although there are regional price caps and you will still require a minimum 5% deposit. For those fortunate enough to have the option, the ‘bank of mum and dad’ is another way to help you take your first step on the property ladder. According to figures released in 2020, up to one in four purchases are now supported by family and friends - up from one in five in 2019. Other options include pooling your savings with a partner or friend to buy your first home together. The Government’s Lifetime ISA (Individual Savings Account) scheme can also boost your savings if you put them towards buying your first home. If you’re under 40 you can save up to £4,000 each year, until you’re 50. The government will add a 25% bonus to your savings, up to a maximum of £1,000 per year. There is no charge to withdraw the funds if you are using them to buy your first home but other terms and conditions apply. 5. Don't give up When you first start saving for a deposit for a house it can seem like a daunting task. However, taking that first step of setting up a savings account is the start of a wonderfully exciting journey. Take a moment to remember the occasion and tell family and friends you’ve started saving – this will all help you to feel supported through the process, make you feel more accountable to yourself and ensure your loved ones understand you may be cutting back on expensive nights out or trips away. redrow.co.uk

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PROPERTY NEWS LANDLORDS

HOW MUCH IS YOUR RENTAL PROPERTY WORTH ON THE SWINDON MARKET? SWINDON LANDLORDS NEED TO AVOID PRICING THEIR PROPERTIES TOO HIGH OR TOO LOW.

AS A LANDLORD, SETTING THE RIGHT ASKING PRICE IS ABSOLUTELY CRUCIAL IF YOU WANT YOUR PROPERTY TO STAND OUT AND GENERATE INTEREST FROM PROSPECTIVE TENANTS.

Historical lets can be a good indicator

The wrong price (either too high or too low) will deter renters from making an enquiry.

If you know what features are popular with tenants at the moment - i.e. work from home space and gardens - this can help you to set the right rental value for your property.

With fewer enquiries, you won't be able to book in as many in-person and virtual viewings. It will therefore be less likely that you receive offers and it will take a lot longer to let your property or even rent it out at all. An experienced letting agency like Home Finders will be able to provide you with all the guidance you need to work out the right rental value and start attracting eager tenants from the get-go.

It's important to look closely at historic and current comparable listings in your area as this will show what tenants are willing to pay, not just what landlords expect. What are tenants looking for?

Think about the location of your property Location, location, location remains all-important to the majority of tenants. Therefore, your asking rent is likely to be informed by factors such as local infrastructure, transport links, green space and amenities. How is the market performing?

So, how do you determine the rental value of a property? Take local and national rental trends into account Gauging current levels of activity and price growth on a local and national level can help you to set a rental value which prospective tenants deem realistic and in line with their expectations. 18 | ISSUE No.9

If demand from prospective tenants is high, you could price your property slightly above average in the hope an eager renter will be keen to beat the competition and snap up your property.

Being greedy will get you nowhere The golden rule of pricing a property to let. It can be hard to take an objective view of your investment, which is where the help of a letting agent becomes invaluable. If your rental price is too high, it could prolong the lettings process and you may need to reduce the price on several occasions. If you let your property with an agency like Home Finders that knows the Swindon market, they will be able to advise you on all of the above to ensure that your rental price is set at the right level so you have the greatest chance of letting quickly and for the best possible price. Contact Home Finders' Managing Director Sue Gidney to arrange a valuation of your rental property on 01793 299135 or sue@swindonhomefinders.com swindonhomefinders.com

Alternatively, if the market is slow, you will need to price your property more economically to make sure it still attracts interest. wigwampropertynews.co.uk

PROPERTY NEWS VICTORIA LOUISE

THE PROPERTY TWINS REVEAL EASY WAYS TO ADD VALUE TO YOUR HOME GLAMOROUS ESTATE AGENTS RECENTLY LAUNCHED THEIR OWN COMPANY, VICTORIA LOUISE.

READY TO INCREASE YOUR PROPERTY’S VALUE? YOU’LL WANT TO HEED THE ADVICE OF TONYA BARNARD AND REA HILL, A PAIR OF 35-YEAR-OLD TWINS WHO WORK AS ESTATE AGENTS.

Go minimal and reduce visible knick-knacks.

The glam duo are known as the Property Twins thanks to their extensive know-how, having spent 15 years working side-byside.

Make sure the exterior and entryway of your home are on-point.

After starting off as trainee letting agents in their home town of Chelmsford, the sisters worked their way up, merged their companies, and launched their own agency called Victoria Louise. Basically, they’re the UK’s version of the Selling Sunset ladies. Now, in an interview with The Daily Express, they’ve revealed five budgetfriendly ways to add serious value to your home and make it more desirable to potential buyers. Declutter You might assume that potential buyers can just visualise a property without all your stuff in it, but clutter can be an obstacle to someone imagining the home as their own.

Tonya and Rea recommend: ‘Open up your space internally so the property is presented to its best potential.’ Prioritise first impressions

"Tidy any rubbish away, clean down windows/doors and add a lick of paint if needed," Tonya and Rea say. "Make sure lights are working and avoid heavy traffic times for viewings. ‘First impressions count!" Secure planning permission Tonya and Rea said: “Selling your home with planning permission could add thousands onto your asking price without even having to do any build work yourself.”

Give your house a name Okay, here’s an insider trick: rather than having a standard house number, give the house a name – think Bramble Cottage if you’re going for a cosy countryside feel, or Palm House if you’re bigging up the house’s windows that are perfect for growing indoor plants. Tonya and Rea said: "House names are very desirable so if the property is suitable, apply for a name as this could help add character and in return demand a higher value." For an in-depth interview with the Property Twins, see the 6th edition of the Wigwam Magazine: wigwampropertynews.co.uk/ magazine victorialouiseproperty.co.uk

Make the garden look great It’s not just the interiors that matter – check your garden is in great shape, too. The twins say: "If you can improve the look of your garden this will really help, gardens are very important now more than ever and can help achieve a higher value."

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COMMERCIAL PROPERTY DESIGNER OUTLET

SWINDON’S DESIGNER OUTLET SOLD AS PART OF £600 MILLION PACKAGE DEAL THE POPULAR DESTINATION ATTRACTS LOCALS AND VISITORS FROM AS FAR AWAY AS THE MIDLANDS AND WALES. Swindon’s Designer Outlet has been sold as part of a £600 million package deal believed to be the UK’s biggest retail property deal in seven years. LaSalle Investment Management, a subsidiary of the property giant JLL, has agreed to buy Cheshire Oaks and the Swindon Designer Outlet from Nuveen Real Estate for £600 million, representing a yield of six per cent. It saw off competition from Bluewater owner Landsec to clinch the deal, which was brokered by commercial property experts Morgan Williams. The sites were first developed by McArthurGlen more than two decades ago. They continued to be managed by McArthurGlen after the sale to Nuveen – and this is expected to continue under LaSalle.

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Nuveen took over the Swindon and Cheshire outlets in 2008 for its UK Outlet Mall Fund. The deal is the biggest since 2014, when Landsec paid £696 million for a 30 per cent stake in Bluewater shopping centre in Kent. Housed within the beautifully restored Grade II listed buildings of the Great Western Railway, the South West's most popular Outlet Village boasts a huge variety of shops and brands, not to mention restaurants and coffee shops, many of which stay open until late. News of the sale will be magic to the ears of shoppers in Swindon and beyond as the Designer Outlet is the place to go for an amazing range of brands, among them Calvin Klein, Tommy Hilfiger, Polo Ralph Lauren, Lacoste, John Lewis, Jack Wills, Vans, Boss, Puma, Nike and Converse. mcarthurglen.com

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INTERIORS INSPIRATION

PURPLE REIGN INTRODUCE THIS DRAMATIC PURPLE-BLUE HUE TO YOUR HOME IN 2022 SAYS JULIETTE WILLS. OK, so its official name is ‘periwinkle’ – a bold yet somehow gentle blue-purple combo that’s going to be everywhere in 2022. Why? Because it’s Pantone’s colour of the year, and that means you’ll see it on everything from wallpaper to cushions, toasters to tiles. It’s not for the faint-hearted, and it’s much more feminine and trickier to style than previous colours of the year (such as coral and dark blue) but it’s a shade that’ll really lift your spirits, and who’s to say we don’t need a bit of that right now? ‘Under The Banana Tree’ Wallpaper £42 per roll lusthome.com

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Cornflower Blue Armchair £250, next.co.uk Flamingo Dinner Plates £8 for two, matalan.co.uk

Electric Blue Mushroom Lamp £22, habitat.co.uk

If it’s a bit too purple for you, then opt for a more solid blue – I go by football teams when talking about blue: Chelsea blue (royal blue), Tottenham blue (navy) and Man City blue (sky blue). I love this classic mushroom lamp from Habitat in electric blue, but if you’re not a kid of the ‘80s and find it a bit in your face, the softer cornflower blue of the armchair from Next might do the trick. If Prince - there is no squiggle on my keyboard for his proper name - was a) alive and b) revamping his spare bedroom, he’d go for this knockout purple sofa. Periwinkle would look amazing in a room that gets a lot of light, but equally at home in a north-facing room as it has such warm, uplifting tones. Basically, you can’t go wrong with it, especially if you’ve got high ceilings and big windows. Check out Passionate Lilac from eco-paint specialists Yes Colours for a pretty good match. As far as trying to match periwinkle with other colours, consider baby pink, sunshine yellow or pale lilac. If painting or papering an entire room is a bit too much for your eyes, inject a burst of colour into a white bathroom with periwinkle towels or a pale pink bedroom with a periwinkle bedspread. Don’t be afraid to stick to a bright white to really show off the depth of colour – periwinkle is such a bold, stand-alone colour that it doesn’t need a colourful friend. Perhaps it’s best to instead let it take its rightful place at centre stage, whether that’s big time on your walls or more subtly on your kitchen table – and yes, Pantone have a mug for that.

Periwinkle Mug £17.50, pantone.com

Eco-Paint in Passionate Lilac by Yes Colours £20 per litre yescolours.com

Cornflower Blue Sheepskin Rug £80, baastool.co.uk

Small Blue Gluggle Jug £10, oliverbonas.com Purple Velvet Sofa £799, cultfurniture.com

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TALKING HOMES WITH THE MANAGING DIRECTOR OF VERTEX INVESTMENT GROUP

MATT SLADE Wigwam caught up with Vertex Investment’s founder and director Matt Slade to talk homes and a business journey that has come a long way in a very short space of time. WATCH THE WIGWAM TV PROPERTY TOUR

TALKING HOMES MATT SLADE

To begin with, could we talk a little about your personal property journey? Some of my earliest childhood memories are walking around building sites. My dad undertook a fantastic conversion project of an old barn into residential housing near Bath/Bristol, taking several years to complete. It was a real labour of love and I was sent with him (from around age six) almost every weekend and after school, mainly to stay out of my mum’s hair while she looked after my younger brother. I loved climbing the scaffolding and would try and lend the builders a hand where possible – they were great memories and experiences to have at that age, and I very clearly caught the property bug from those moments on! We lived in a modern estate house at the time. It was initially intended to be a temporary stay until we moved into a barn conversion, however due to the ever-increasing interest rates at the time, that was not to be, and I ended up remaining there until leaving home for university. I read Natural Science at Cambridge University, and although from a modest upbringing myself (I went to a state technology College in Kingswood, Bristol) many of the friends I met at Cambridge were business savvy and already lucky enough to own London property themselves. Throughout that time (2001-2004) property prices were exploding at an unprecedented rate, running somewhere between a 10%-25% increase per annum every year! Any dream of ownership at that point was completely unachievable, as I had no savings or family money (and frankly anything I could get my hands on soon disappeared at the uni bar or ‘van of death’ kebab van!). However, as a skint student, I certainly sat enthralled by stories describing sums (that sounded eye-watering at the time) being made ‘risk free’ simply by being lucky enough to own property at the time.

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TALKING HOMES MATT SLADE

"I started out my professional career as a management consultant based in London."

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What was the first property you ever owned? The first property I purchased was a 2-bedroom terrace house in St George, East Bristol. It was a probate property and in barely habitable condition throughout. The idea was to gain planning permission for two flats and then convert the building, selling the flats at the end for a reasonable profit. I’d started out my professional career as a management consultant based in London after uni and after a few years generating income this allowed me to get a 95% mortgage approved. With credit cards loaded up (it’s very hard to save whilst renting in central London), I’d finally got my foot on the bottom rung of the property ladder. It all felt worth it now. For over half a decade, I’d watched house prices spiral up and up, without the ability to do anything about it. Finally, it was my big moment – all the hard work to this point had paid off and I could finally make a start in property. I paid £157,000 for the property and the completion date was August 8th, 2007. The next day. The next bloody day, on August 9th 2007, BNP Paribas announced it was ceasing activity in three hedge funds specialising in US mortgage debt, precipitating the global financial crash. Within a month, people were queuing in the street to withdraw funds from Northern Rock, the first UK bank run in 140 years. I’d not even bought the property particularly cheaply at the time! A neighbour laughed out loud when I disclosed how much along with a genuine ‘why here!?’.

That bit at least was solid. I was (and still am) very much a technophile and figured more and more people would soon be able to work remotely (in the same way I often could at the time). The logic was a gradually increasing exodus from London to Bristol and the regions, leading to gentrification in the ‘edgy’ areas close to the city centres. At that point however, that was simply my hunch about the future. On the ground, the reality was I found myself with a barely habitable property, no funds to do the works (I’d figured on getting development finance post planning permission – no chance of that now) and a global credit crunch and property deflation forming up nicely in the background. Bloody brilliant!! Undeterred (and with seriously no other option) I hit the project with full gusto and naivety to match. Weekends, evenings, hungover mornings, friends drafted in to help. Everything I could do myself I did, steaming wallpaper, clearing out sh*t filled saniflows and plumbing, demolition of a 30ft garden wall by hand. Fortunately planning permission was granted, and I employed a local building firm to complete the conversion. I borrowed every penny I could, including personal loans and maxing credit cards to get the project over the line. By this point in 2008 the sales market was dead, with property going for a song. I knew the underlying Buy To Let fundamentals were good, and so I decided (I think partially I was in denial about making a loss) to get a BTL mortgage on each flat

and rent them out. I genuinely think the surveyor took pity on me as he passed a valuation at £140k each (I think I’d have got just £100k each in an auction situation). It allowed me to clear most of the debt, although I was now saddled with a personal loan or two and had to face a BTL fixed interest rate of 8% for 2 years! The rent wasn’t enough to cover the mortgage so I ended up putting hundreds of pounds a month from my salary into the BTL mortgage payments to ensure they got paid. Despite everything however, I’d somehow survived and learnt more than I could ever have been taught! I still own those flats to this day and was right about the area, it being declared one of Bristol’s most up and coming areas in more recent years.

"By this point in 2008 the sales market was dead, with property going for a song."

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TALKING HOMES MATT SLADE

How did you first get involved in the property business professionally? I’d always wanted to get into property since I was a kid and although that first project was tough on the finances – I’d loved every minute of actually being at the property and overseeing the works. My consulting career was taking off and I figured I’d continue to invest any spare money I made there into further projects. It was tough going as I invested almost every penny I could get my hands on, but by taking on more and more projects, I gradually built up a decent sized portfolio of rental property. Each one had some form of renovation, conversion, new build or value-add element to the property (rather than just buy and rent). Tell us about your recent whole house restoration project in Bath? That was the renovation of a Grade I listed building on The Circus. It has a fantastic ground floor kitchen, when we first bought the property there was stud work that obscured the lovely coving on the kitchen ceiling, we were able to remove that and return it to a kitchen format. We also installed a large quartz island which is a very practical addition to the kitchen. One of the fantastic things about Grade I listed properties are the features. We’ve been able to restore meticulously the window shutters and they work fantastically now. Upstairs there is a really special living area with stunning views, the Georgians built a huge set of

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windows that run from floor to ceiling, they also have a massive bay which allows it to have three aspects. The whole entertaining floor is part of two rooms, so we have the drawing room at the north side of the house and then we have the withdrawing room at the south side of the house. From the north side there are views out onto the fantastic Circus at the front of the house. The en-suite bathroom forms an integral part of the master suite. When we purchased the property it was a bedroom, so we were very lucky to get planning permission to convert it into a bathroom. It has some lovely features like the his and hers shower and a roll-top bath. And the bathroom is also lucky enough to have amazing views onto the Circus. In addition, it’s equipped with some really nice features, including an original Georgian fireplace, perfect for some crackling heat while you are having a sumptuous bath. Up close on the outside, the intricacy of the design becomes even more apparent, along with the truly mindblowing skill of the masons, with each section carved by hand from solid ashlar stone in the 1700s, without access to electricity or modern tools! And as a historic factoid, by placing acorns along the top of the Circus, John Wood, the architect, was making references to the legend of the founding of Bath following Bladud’s discovery of the healing hot waters; his leprous pigs were cured when they discovered the hot spring while foraging for acorns.

"At our core, we are very much an investment company". WATCH THE WIGWAM TV PROPERTY TOUR

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PROPERTY NEWS CELEBRITY HOMES

ADELE’S 'EASY ON ME' VIDEO FILM SITE NEAR MONTRÉAL IS FOR SALE!

173-ACRE VINEYARD DOMAINE DUMONT CHAPELLE STEAGNÈS FOR SALE, PRICED AT $4.37 MILLION U.S. DOLLARS.

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Photo credit: Engel & Völkers Montréal

Adele has a talent for choosing stunning backdrops for her music videos, and the one she chose for her hit song 'Easy On Me' is no exception. A 90-minute drive from Montréal, the 173-acre vineyard Domaine Dumont Chapelle Ste-Agnès is now for sale, priced at $4.37 million U.S. dollars. The vineyard estate contains six buildings, including the 1846-built main manor house which was renovated in 2021, a castle with a new reception hall, a chapel, a guesthouse, and several more buildings. There are a total of ten bedrooms and 14 bathrooms. The manor’s red ballroom forms the focal point and served as the set for Adele’s music video of “Easy On Me,” which was

released in 2021, and even includes a portrait of the singer. The estate is a private vineyard with over 7,000 vines and a production facility for making ice and port wine. It also produces maple syrup from its 11,000 trees. Exterior architecture is unique with sumptuous interiors. The wine rooms have a French flair with beautiful vaulted ceilings and terracotta tile floors. The versatility of the buildings and interior spaces give many commercial options to the next owner. Located in Sutton, Québec, it is only a short drive to the American border. Adele is one of the most successful recording artists of the 21st century. Her new single has already been watched more than 200 million times on YouTube,

making the red ballroom of Domaine Dumont Chapelle SteAgnès very recognizable to her millions of fans. In the last year, Adele has experienced both ups and downs, going through a painful divorce, losing 100-pounds, and a recent highly acclaimed live television concert from the Griffith Observatory in Los Angeles. 'Easy on Me' has set the record for the highest number of streams of a song in one day on Spotify. So far she has won an Oscar, a Golden Globe and 15 Grammys. Domaine Dumont Chapelle SteAgnès is listed by David O’Malley of Engel & Völkers Montréal. toptenrealestatedeals.com

ASK THE EXPERT AUSTEN DAWSON

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ASK THE EXPERT

LOOKING TO ADD VALUE TO YOUR PROPERTY? HOW MUCH DOES AN EXTENSION ACTUALLY COST? As mentioned in my previous column, there are plenty of extension options out there, and they all generate different value rates. You’re not only paying for building materials and contractors, but also a host of professionals who need to make sure your build follows legislation and is structurally safe. Prices can vary massively based on which company you choose to work on your project and the size of the job. Here are some rough guides to what you can expect to pay for different extensions.

Single-Storey Rear Extension £40,000 - £50,000

Two-Storey Extension £70,000 - £80,000

The most recognizable extension, and perfect if you have the garden space to spare. A rear extension allows you to open up existing space, such as your kitchen/dining area, or lets you transform the whole of your ground floor.

If you’ve got the money, an extension of multiple levels can revolutionise your home. Expand your living space, add on new bedrooms, the sky’s the limit. Of course, all this extra room will take a hefty amount of work and funds. However, rooms like an extra bedroom generate a lot of new value.

Wrap-Around Extension £50,000 - £60,000 Like a rear extension, but it also incorporates any available side space. These are commonly added onto period properties, mostly from the Victorian era, that tend to have an alleyway to utilize. You could also just take your home out into this alleyway and create what is called a side extension.

Conservatories £15,000 - £25,000 Not only a fantastic way to brighten your home, conservatories have the added advantage of being constructed mainly off site. This can save you money, as well as helping you avoid making concessions at home for construction.

It is always important to do detailed research on architectural designers and builders. Shop around when it comes to professionals – you’ll be surprised by the pricing difference. At Austen Dawson our prices start at £720 for our planning package, whereas we’ve heard of other architects charging as much as £5,000! Make sure you get a contract and payment plan that has you in control. Preferably only release payments after agreed design or construction milestones have been completed. If a deposit is required by your chosen builder, bonds are available to protect your initial outlay. Look into your permitted development rights - this is a scheme set up by the government that allows homeowners to extend without needing planning permission. The rules can get a little complex, so have one of your building or architectural team talk you through this. Finally, always ask for references when it comes to the contractors building your project. If possible, request a visit to see their previous work. If any professional refuses to put you in touch with past clients, stay clear!

Bradley Quesnel Managing Director, Austen Dawson 01367 358080 austendawson.co.uk

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ASK THE EXPERT AWDRY BAILEY & DOUGLAS

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ASK THE EXPERT

NEW YEAR’S RESOLUTIONS FOR THE (RECENTLY) SEPARATED FROM AWDRY BAILEY & DOUGLAS. If you are having to deal with separation this New Year, try not to worry. At Awdry Bailey and Douglas we offer a sympathetic ear and a free initial consultation, where we can explore all your options in order to help you find practical solutions. We understand that no one wants to be dealing with separation or divorce, particularly on top of what has been a very trying year, but if things need to change, please get in touch. The following resolutions are suggested to help you move forward:1. Ensure that you put the needs of your children first – Any relationship breakdown is upsetting and particularly when there are children involved. You need to ensure that you agree with your partner what to say to the children and whether this can be done together. The children will be upset and will need to know that you both love them and that your role as a parent won’t change. If they struggle to comprehend what is happening there are agencies who can help and provide support. Most schools will also have excellent pastoral care to help the children during this difficult time. 2. Don’t put off getting good advice – When relationships break down everybody will give you advice and it is easy to feel overwhelmed and lost. You may also initially be concerned about the potential cost of legal advice. The first thing I would suggest is to take advantage of our free initial consultation. When you are in the middle of so much change, just being able to talk to a friendly, experienced Family Lawyer can really help. We will talk you through all your options in plain English, offer practical, realistic advice and try to help you see a way ahead in these uncertain times. If you decide to go ahead, think of the cost as a short-term expense for longer term gain.

Particularly when looking at pensions. Financial agreements are very much based on your specific needs and it's important that you take control of your future. 3. Stop and breathe – It's very important that you have time to think about what has happened and to consider your next steps. Is there an opportunity to consider counselling and is it recognised that the relationship has come to an end? It's very easy for things to be said which you may regret later. If you can, try and discuss interim arrangements to give you breathing space while you look at the bigger picture. 4. Be aware of your options – You need to have a clear idea as to the financial assets within the relationship to include income, capital, and pensions. You can also review your position ie. can you increase your hours at work to improve your mortgage position? What housing would meet your needs if you are having to sell the property? Are you entitled to benefits? How much does it cost to stay in the house? These are all factors which are particular to you and once you have a better idea, the future is less daunting. Our advice is tailored to your specific needs and circumstances. 5. Alternative Future – Lastly, although the relationship breakdown may have been unexpected, once you adopt the resolutions as noted above, this will make you feel that you have a say in your future and more importantly control. We will help you get there and provide support and advice as required. I hope these resolutions will help, but if you feel that you could benefit from further advice, please do get in touch with me. I offer a free initial consultation, with a friendly listening ear.

Carol Dawe Solicitor, Family Law Awdry Bailey & Douglas Solicitors 01793 384127 carol.dawe@awdrys.co.uk awdrys.co.uk

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ASK THE EXPERT OPTIMUM PROFESSIONAL SERVICES

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ASK THE EXPERT

WHY IT IS UNWISE TO IGNORE A PLANNING ENFORCEMENT NOTICE Of all the letters you might receive from your local planning authority, a planning enforcement notice is surely among the least welcome. It means you – or activity you have been carrying out – has come to the attention of the local planners and they have deemed rules have been broken. So why would you receive a planning enforcement notice? There are two common scenarios which would prompt one to be issued. Either you have been carrying out development without the required planning permission; or you have failed to comply with any condition or limitation, subject to which planning permission has been granted. If an enforcement notice is not appealed or withdrawn and it takes effect, or if an enforcement appeal is submitted but is unsuccessful, the requirements of that enforcement notice must be complied with, within the relevant compliance period. Many homeowners, unfortunately, are tempted to ignore a notice, but as lawyers specialising in property law our advice is: do so at your peril. In fact, while to undertake development without planning permission, or make changes to a building without planning permission is not usually an offence (unless a listed building is involved), failure to comply with an enforcement notice

is a criminal offence. Successful prosecution could result in hefty fines. Even if you avoid prosecution, the enforcement notice is sure to come back to bite you when you try to sell your house. If you have already gone ahead with building work without permission, or have not complied with the conditions of planning permission, there is an element of time limitation. Usually, the development will be immune from enforcement if no action is taken within four years of substantial completion for a breach of planning control consisting of operational development; within four years for an unauthorised change of use to a single dwelling house; or within ten years for any other breach of planning control (essentially other changes of use). However, these time-limits do not prevent enforcement action after the relevant dates in certain circumstances. What if you have an enforcement notice on your property when you come to sell? Even if the relevant time has elapsed, if an enforcement notice is active it will be a red flag for any potential buyers and their legal advisers. You’ll need to justify and explain what has happened and hope the buyers will accept this.

Indeed, you may have complied with an enforcement notice, but the local authority has not got around to removing this from your property. Again, this needs explaining to buyers and the process of having an enforcement notice removed may not be quick. Alternatively, lawyers on both sides will need to agree an indemnity in the exchange contract that both sides are happy with – and this takes time. If you want to get on and sell your house, the last thing you need is a time-consuming hitch caused by an enforcement notice. There is one bit of good news. The number of some types of planning enforcement action has declined in recent years, but don’t assume that means the planners are being more lenient. More likely, there have been fewer contraventions for them to get their teeth into. The wisest course of action, before you do any building work or alterations, is to check whether planning permission is needed or if it falls into the category of ‘permitted development’ - work you are allowed to carry out without seeking formal planning approval. Our advice is to avoid any activity which may lead to the planners issuing an enforcement notice. But, if you are unlucky enough to have one land on your doormat, then act quickly and seek legal advice.

Iain Mason Head of Legal Optimum Professional Services imason@optps.co.uk optps.co.uk

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ARTS & CULTURE WYVERN THEATRE

BILLIONAIRE BOY Where: Wyvern Theatre When: Wed 23 – Sat 26 February 2022 The bestselling children’s author David Walliams and the award-winning Birmingham Stage Company have teamed up again for a brand-new production of Billionaire Boy. This will be their third collaboration after the Olivier Award nominated Gangsta Granny and acclaimed Awful Auntie productions. Billionaire Boy started life as a David Walliams novel for children in 2010, published by HarperCollins Children’s Books, and was filmed for the BBC in 2016. Billionaire Boy tells the story of Joe Spud, who is twelve years old and the richest boy in the country. He has his own sports car, two crocodiles as pets and £100,000 a week pocket money. But what Joe doesn't have is a friend. So he decides to leave his posh school and start at the local comp. But things don't go as planned for Joe and life becomes a rollercoaster as he tries find what money can't buy! David Walliams said: ""What a magnificent show! If this production as on Britain’s Got Talent, I’d be giving it the Golden Buzzer! It couldn’t be better!"

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David Walliams has become one of today’s most influential writers. Since the publication of his first novel, The Boy in the Dress (2008), illustrated by the iconic Sir Quentin Blake, he has celebrated more than ten years of writing success with global sales exceeding thirty-two million copies, and his books have been translated into fifty-three languages. David’s titles have spent 138 weeks (nonconsecutive) at the top of the children’s charts – more than any other children’s author ever. He closed 2018 as the UK’s biggest-selling author for the second year running. In addition to his fiction, David has worked with Tony Ross on six picture books as well as three bestselling short-story collections, The World’s Worst Children. Neal Foster is the adapter and director of Billionaire Boy. He is the Actor/Manager of The Birmingham Stage Company which since its foundation in 1992 has staged over eighty productions. The company has become one of the world’s leading producers of theatre for children and their families, including Horrible Histories Live on Stage for fourteen years in the UK, Dubai,

Abu Dhabi, Qatar, Bahrain, Hong Kong, Singapore, New Zealand and Australia. Neal has written and directed all of the most recent Horrible Histories shows including the Barmy Britain series seen in the West End, across the UK, and abroad. Billionaire Boy will be his third David Walliams stage show after Gangsta Granny and Awful Auntie. In 2019 he directed the world premiere of Tom Gates which he also adapted alongside author of the books, Liz Pichon. Billionaire Boy is adapted and directed by Neal Foster, designed by Jackie Trousdale, lighting by Jason Taylor, sound by Nick Sagar and music by Jak Poore. Billionaire Boy is suitable for ages 5+ Tickets are available from: swindontheatres.co.uk

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Building Contractors Specialising in Extensions, Loft Conversions and General Building Projects.

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