News
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Dubai Real Estate Shows Significant Gains
A recent spike in real estate values in Dubai is bringing back echoes of the Emirate’s property-market crash four years ago. The International Monetary Fund has estimated the residential market is up 16% in the 12 months to April with the real estate consultancy CBRE painting an even frothier picture, saying in a recent report that rents went up by more than 30% in a year. The reported commenced that [...]
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The Secrets of Stamp Duty
Once again, stamp duty has hit the headlines with reports released this week suggesting the tax paid when buying a property is damaging the housing market. Stamp Duty Land Tax, or SDLT, is charged by the Government on any residential property sold for more than £125,000 and is estimated to raise more than £3bn for the Treasury each year. The amount charged varies on the price paid for a property [...]
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Shops to Homes Plans Cautiously Welcomed by LPC
Government plans to allow local authorities to convert swathes of empty high street shops have been cautiously welcomed by LPC Living. Accordingly to The Telegraph, a consultation paper by planning minister Nick Boles will be issued later this week which will encourage local authorities to concentrate shopping facilities within a couple of high streets. All other areas could be converted to housing. With an estimated 14% of the country’s shops [...]
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Dubai Creek Harbour: A new “city” in Dubai
One of the main roads through the United Arab Emirates – the E44 or ‘Ras Al Khor Road’ – is receiving a makeover with a new boulevard taking shape not far from Dubai’s mangrove forest at the head of its iconic creek. New signage being installed this month identifies the project as “Dubai Creek Harbour”. Newly-planted date palms line both sides of the road and cranes, trucks and earth-movers, conspicuously [...]
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Trust Bids for West End Car Park
Manchester-based agents Zameero Ltd, acting on behalf of the Pervaiz Naviede Family Trust, have submitted an offer for a car park investment in London’s West End. The site, which is being sold by Savills, has previously been on the market, however the current asking terms are £3,500,000 which equates to £46,000 per car parking space. Recent re-sales of some of the spaces have achieved in the region of £80,000. he car park has an ERV of £300,000 per [...]
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A Sheffield Steal?
Manchester-based agents Zameero Ltd, acting on behalf of the Pervaiz Naviede Family Trust have this week submitted an offer on a prime freehold retail and office investment in Sheffield. The site, at 54-56 Fargate, is located approximately 500 metres north west of Sheffield railway station and Sheffield Hallam University’s city campus. The investment comprises a retail unit let to O2 which provides 78% of the income let until 2015 and associated office space let on various terms [...]
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Trust Makes Bid for Hull Site
The Pervaiz Naviede Family Trust (PNFT) has today submitted an offer for a residential investment in the city of Hull which is being sold by Eddisons on behalf of receivers. Manchester-based agents Zameero Ltd made the bid on the ‘Urban One’ development on Spring Street located 500 metres north of the city’s railway station and a short walk from St Stephen’s Shopping Centre. The investment comprises 34 apartments including the freehold with an estimated rental [...]
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Healthy Living is Worth its Weight in Gold
Dubai’s leaders have hit on an unusual way to encourage residents to lose weight: they are running a scheme for the next 30 days where participants can win a gram of gold for every kilogram of weight they lose. Obesity is an increasing concern for Dubai’s two million inhabitants with the United Arab Emirates (UAE) currently ranked the fifth fattest nation in the world. It’s estimated that collectively the population [...]
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UK Debt Map of Limited Use to First-Time Buyers
Housebuilder LPC Living has warned off would-be housebuyers from relying on a ‘debt map’ launched this week when considering their eligibility for a mortgage. Payplan, one of the UKs largest debt management companies, launched the interactive service earlier this week. The report, based on 40,000 inquiries, shows the number of people to seek debt advise within a particular post code area as well as the average debt per person and [...]
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Water Taxi Service to Create Waves in Salford
An ambitious plan to create a water taxi service linking Salford Quays to Manchester city centre could be approved by council leaders as early as next week. According to an article in Place North West, the Irwell River Park Taxi Project would provide a ferry service for commuters and leisure travellers between MediaCityUK and Chapel Wharf, close to the Lowry Hotel. Intermediate stops are proposed at the Imperial War Museum [...]