UKREiiF’s Post

Manchester’s housebuilding boom Manchester has seen a boom in high rise building over the last ten years, unlike London where high rises compete in the Capital’s office space market, Manchester’s high rises are mostly designed as residential developments. Remarkably, 500 people lived in Manchester city centre in 1994, by 2025 it is expected to be 100,000. Since 2018, 27 towers have been built in Manchester with a further 20 under construction and 50 more in the planning system. As the rest of country’s cities struggle to build homes at pace, Manchester is succeeding, how? This building boom has been prompted in no small part by the Greater Manchester Housing Investment Fund (GMHIF) established in 2014 by then chancellor George Osborne. The scheme created a fund of £300m that developers could use to help fund projects they otherwise could not afford. They would then pay back the loan over time, with the repayments being placed back into the fund. The value of the fund meant to support the creation of 10,500 homes has now reached almost £1bn. Eamonn Boylan, the Chief Executive of the Greater Manchester Combined Authority (GMCA) said the success of the fund has seen the money “recycled twice” over. The loans would not have been possible without a united approach taken by all ten of the region’s local authorities which agreed to collectively underwrite the loans. What do you think of Manchester’s building boom? Are publicly funded loans the way to get house building started elsewhere in England?

Prefabricated housing will play a huge role in lowering housing costs while property costs continue to sky-rocket. This move by Lennar to acquire Veev suggests that this kind of housing innovation will be widely distributed much sooner than expected. We need lawmakers to make way for more prefabricated housing at greater densities to bring more housing on-line faster. #housing #modular #prefab #affordablehousing #affordablehomes #Maryland #housingpolicy #housingmarket https://lnkd.in/e6uJXe4z

🏡Birmingham Property Market: 📈House Prices: With a rising demand that outpaces supply, Birmingham's average price of £271k offers more bang for your buck compared to the UK average of £285k. Prices have surged 72% in the last decade, and forecasts predict a 19.2% rise from 2023 to 2027, making Birmingham a standout for property investment. 💰Rental Market: Enticed by lower living costs compared to the capital and much improved job opportunities, more and more tenants are flocking to rent in Birmingham, making the rental market extremely competitive, averaging a lucrative yield of 5.17%. The rental market is not slowing down and is set to increase by 19.3% by 2027. 🌆New Developments: The City is undergoing a transformation with HS2, Goldman Sachs, HSBC and the BBC being the catalysts for regeneration. Savills estimate that over 22,000 new homes are in the pipeline for construction by the government-backed Big City Plan. Text 07457403855 to find out more!

"Half-built homes abandoned at a time of severe housing shortages across capital. In total, 24 out of London’s 32 boroughs had at least one halted construction site." At Nextius, we have appetite to fund part-built development projects where there have been cost overruns, construction delays or the existing lender has decided not to extend the loan. The figures were compiled by data analysts MOLIOR LONDON LIMITED. #developmentfinance #funding #construction #housing #housebuilding

Exceptional Investment Opportunity: Historic Property in an Opportunity Zone with EB-5 Eligibility and Seller Financing Options Embark on a lucrative investment journey with this unique property, boasting a rich historical background and situated in a designated Opportunity Zone. This vacant property is not only EB-5 eligible but also comes with the advantage of partial seller financing, making it an unmissable investment prospect. Historical Elegance with Lucrative Tax Benefits: Listed on the Historic Registry, this property exudes timeless charm and architectural grandeur. It presents a rare chance to restore a piece of history while benefiting from significant tax incentives. This project offers the perfect blend of preserving the past and embracing future financial rewards. Strategic Location in an Opportunity Zone: Situated in an Opportunity Zone, this property is a goldmine for investors seeking to capitalize on tax benefits. Investing here could mean deferrals or reductions on capital gains taxes, making it a financially astute choice. Your investment will not only be profitable but also play a pivotal role in the community's economic rejuvenation. EB-5 Investment Opportunity: This property is an ideal venture for those looking to leverage the EB-5 Immigrant Investor Program. By investing in this project, you contribute to job creation and local economic development, while also paving your path to U.S. residency and citizenship for international investors. Versatile Mixed-Use Development Potential: The property's mixed-use zoning opens a world of possibilities. From high-end residential units, chic office spaces, to retail and entertainment complexes, the potential to diversify your investment portfolio is immense. This versatility ensures a resilient investment in an ever-evolving economic environment. Outstanding Potential for High ROI: With its unique combination of historical significance and prime location, this property is poised for a remarkable return on investment. Expect substantial cash flow and capital appreciation, offering both immediate and long-term financial growth opportunities. Ease of Investment with Seller Financing: Understanding the complexities of financing vacant properties, we offer seller financing options to qualified investors. This flexibility facilitates a smoother investment process, allowing you to realize your vision more efficiently. This is more than an investment; it's a chance to own a piece of history, to contribute to community development, and to reap substantial financial rewards. Don't miss out on this multifaceted investment opportunity. Contact us to discover how you can transform this historic property into a thriving, income-generating asset. The future is bright, and the possibilities are endless with this exceptional property. https://lnkd.in/exUwKqaR

A round-up of all things #realestate so far in February: Barratt Developments plc has agreed a £2.5bn deal to buy its rival housebuilder Redrow. Under the terms of the all-share deal, Barratt will pay a premium of about 27.2% to Redrow’s share price, valuing the company at £2.5bn. Redrow shareholders will own just under a third of the new group. Niche commercial property agent Compton has begun the £27.5m sale of the Hoxton Campus on behalf of Aviva Investors. The guide price equates to a capital value of £851/ sq ft and a net initial yield of 7%. Compton described the sale as “offering a rare opportunity to acquire a portfolio of three prime central London office buildings.” HUB and Bridges Fund Management Ltd. has agreed to an £88m forward funding deal with Singapore-based property developer, City Developments Limited (CDL) to deliver Yardhouse, a 209-home co-living scheme in Wood Lane, West London. Logicor, Blackstone’s European logistics platform, has secured planning consent to redevelop a 330,000 sq ft, BREEAM Excellent warehouse in Salford. Construction is due to commence in Q3 2024, with planned completion in Q4 2025. Upon completion, the former base of retailer Littlewoods will become known as Bolton 330. The joint venture between Oxenwood Real Estate and Alberta Investment Management Corporation (AIMCo) has obtained planning permission to build a last-mile logistics facility in Acton. Ealing Borough Council approved a 106,000 sq ft warehouse to be built on the 4.7-acre site just off Uxbridge Road. Cubex and JV partner, ALARA INVESTMENTS LIMITED, are delighted to announce their first unconditional acquisition as a partnership of a brownfield site located in the Temple Quarter Enterprise zone in central Bristol. The site is located less than a 3-minute walk from the University of Bristol’s new Temple Quarter Enterprise Campus which is due to open to 4,500 new students in 2026. The scheme will have a GDV over £100 million. Urbanite Living Limited has kickstarted the freehold sale of a portfolio of purpose-built student accommodation (PBSA) properties in the UK for £130m. The five properties offer a total of 999 student bedrooms and are located in key Russell Group cities of Leeds, York, Sheffield, and Glasgow, and are a combination of currently operational assets and new build schemes set for occupation this year. Student developer Downing has completed the acquisition of a car park site in Brighton. The former Bennett’s field car park, next to Brighton & Hove Albion’s Amex Stadium, will be redeveloped into a purpose-built student accommodation (PBSA) scheme comprising 555 bedrooms. All articles can be found on React News and Property Week #development #realestate

Commercial real estate: Don't miss the forest for the trees. Development is not cheap. If you look closely you may be able to find a property thats's 1. Similar to what you want to develop ground up. Meaning buildout costs may be minimal 2. Has additional land to develop ground up in the future 3. Is the correct zoning or has potential to be re-zoned for what you want to do 4. Has current tenants in place on relatively short lease to help carry the debt for a bit 5. Already has most of the infrastructure in place: curb cuts, parking, water/sewer etc... If you are focused on ground up development, don't automatically dismiss existing property. You may be able to find an existing physical property on the market that allows you to do what you want to do from a ground up development perspective, but at a cheaper overall cost and quicker turnaround.

If you led Housing Policy in the UK what would you do? I would ask developers to think about housing capsules, buy houses landlords did not want and would build 4 story units instead of being focused on one house one family policy. Units and sq feet focus costs to yield returns. Landlords are readying their exits why not offer incentives to sell to tenants or councils who need and want to buy. Right now incentives are non existent so why not offer the tenants the right to buy with cash in the same way council houses were bought but with specialist finance capability. Engineering capital should feature heavily in the policy development, building and removing planning is only 25% of the story, what about the current available stock. This is about moving the market. Housing policy is about shifting the barriers and moving the flow to benefit those who need a roof. Policy should also encourage entrepreneurs as such councils should be able to buy empty houses and renovate. As a country who like to build it surprises me we have not done more in the capsule space, ideas from Denmark and Sweden should be easy enough to ship and infrastructure speed from China's play book is something not to ignore. I think where we excel is in the architecture, engineering, carpentry and focus planning. Housing policy needs to yield models from a global platform to accelerate the availability in the UK.

There will be 198 units across two blocks, comprising of one and two bedroom apartments. The development is expected to offer an anticipated rental return of 6.35% and boats a 999-year lease. Properties at Portside Place start from £181,000. Work is expected to start in Q4 of 2024 and be completed in Q2 of 2026. Big Red Construction Limited is undertaking the development’s construction with an architectural design by NC Architects. Mitchell Walsh, chief executive of Integritas Property Group, said: “The launch of this brand-new development represents another significant milestone for IPG, offering investors and renters alike the chance to enjoy a slice of one of the most vibrant and fastest-growing places in the UK. “It comes at a great time for the North West property market, with Savills recently outlining how the North West is forecasted to deliver the highest house price growth over the next five years. I think people are now really switched on to the amazing communities we have across the region, and investors continue to show a strong commitment to helping the North West compete on the world stage.” Jimmy Baillie #Ukpropertynews #ukproperty #realestate #financialgoals #buytolet #financialintrdusty #ukbrokers #buytosell #londonproperty #taxes #bankloans #mortgageproperty #mortgage #businessdevelopment