Furnished holiday home owners face some difficult decisions before the latest budget measures kick in, in April of next year; Previously owners of furnished holiday homes were able to defer capital gains tax payments or offset losses made on their investment against their income. In order to qualify for these benefits, secondary homes had to be furnished, run as a commercial business and available to rent, by the public for at least 140 days a year, with actual lettings for 70 days in the year.
Alistair Darling has put a stop to all benefits, and the result could affect more people than the secondary home owners.
Such measures will make ownership of a holiday home to let far less attractive investment. Many might consider selling their property before next Aprils deadline; sale prices would fall due to a surplus which could provide some bargains for those of us with spare cash. The other side of course is that the letting market will have fewer properties, and owners will be able to charge more.
For those people who have headed the lessons of the credit crunch, tightened their belts and decided to holiday in the UK this year, the price of their holiday accommodation has just gone up. The 2% beer tax hike, the closure of pubs with B&Bs and hotels all impact on the holiday at home market, which has struggled for long enough.
Friday, 24 April 2009
UK Laws for Change of Use of Pubs
UK Pub Conversions- Change of Use
6 pubs a week are calling last orders for the last time with the asking price of the buildings low enough to tempt property developers as well as other retailers. Planning laws on change of use may restrict development to residential property on pubs in certain areas; a city centre pub is more likely to gain permission for conversion to a residential property than the only pub in the village, and some pubs are advertised for sale with full change of use/ planning.
Agents at London-based Paramount Investments said the company would prefer to sell to a new pub landlord but would consider other buyers. Paramount managing director Mark Greig said: “Not all pubs which close down are redeveloped as housing. A lot of them reopen again as pubs or as other businesses.” He added: “Falling property prices are creating tremendous bargains within the pub market for licensees and other entrepreneurs”
So if residential conversion is not available, what changes can be made to the use of the pub for other businesses?
The following classes of use for England are set out in the Town and Country Planning Order 1987. Pubs are in the A4 ‘Drinking Establishment’ class, and can be converted without permission being sought to any of the following;
A1, Shops, retail warehouses, hairdressers, undertakers, travel and ticket agencies, post offices, pet shops, sandwich bars, showrooms, domestic hire shops, dry cleaners and funeral directors
A2 Financial and professional services - Banks, building societies, estate and employment agencies, professional and financial services and betting offices.
A3 Restaurants and cafés - For the sale of food and drink for consumption on the premises - restaurants, snack bars and cafes
Paramount managing director Mark Greig said “Pubs often appeal to retailers because there is a natural crossover in space requirements. As pubs are often around 4,000 sq ft (370 sq m) and have a floor-to-ceiling height of around 8 ft (2.4 m), the sales space is ideal. Furthermore, because pubs also need both basement space for heavy duty equipment and space for deliveries, retailers often find they have ready-made sites for storage.”
UK Pub Sales Agents: Paramount Investments are specialists in the sales and leasing of UK pubs, including freehold pubs, leasehold pubs, inns, public houses, pub tenancies and managed houses.
For further details please contact the investments team on 020 7644 2333
Web: www.paramount-investments.co.uk/
Blog: uk-pubs-for-sale.blogspot.com/
Search: www.uk-pub-sales.net/
6 pubs a week are calling last orders for the last time with the asking price of the buildings low enough to tempt property developers as well as other retailers. Planning laws on change of use may restrict development to residential property on pubs in certain areas; a city centre pub is more likely to gain permission for conversion to a residential property than the only pub in the village, and some pubs are advertised for sale with full change of use/ planning.
Agents at London-based Paramount Investments said the company would prefer to sell to a new pub landlord but would consider other buyers. Paramount managing director Mark Greig said: “Not all pubs which close down are redeveloped as housing. A lot of them reopen again as pubs or as other businesses.” He added: “Falling property prices are creating tremendous bargains within the pub market for licensees and other entrepreneurs”
So if residential conversion is not available, what changes can be made to the use of the pub for other businesses?
The following classes of use for England are set out in the Town and Country Planning Order 1987. Pubs are in the A4 ‘Drinking Establishment’ class, and can be converted without permission being sought to any of the following;
A1, Shops, retail warehouses, hairdressers, undertakers, travel and ticket agencies, post offices, pet shops, sandwich bars, showrooms, domestic hire shops, dry cleaners and funeral directors
A2 Financial and professional services - Banks, building societies, estate and employment agencies, professional and financial services and betting offices.
A3 Restaurants and cafés - For the sale of food and drink for consumption on the premises - restaurants, snack bars and cafes
Paramount managing director Mark Greig said “Pubs often appeal to retailers because there is a natural crossover in space requirements. As pubs are often around 4,000 sq ft (370 sq m) and have a floor-to-ceiling height of around 8 ft (2.4 m), the sales space is ideal. Furthermore, because pubs also need both basement space for heavy duty equipment and space for deliveries, retailers often find they have ready-made sites for storage.”
UK Pub Sales Agents: Paramount Investments are specialists in the sales and leasing of UK pubs, including freehold pubs, leasehold pubs, inns, public houses, pub tenancies and managed houses.
For further details please contact the investments team on 020 7644 2333
Web: www.paramount-investments.co.uk/
Blog: uk-pubs-for-sale.blogspot.com/
Search: www.uk-pub-sales.net/
Tuesday, 7 April 2009
5 Tips to Find Top Commercial Property Agents
5 Tricks for Locating the Top Commercial Property Agents in the UK
Written by NicheMarketingExplained.com on April 5th, 2009
1. Commercial Property Agents in the UK : Trust Realestate Professionals Who Have Been Successful With Commercial Property
Many commercial property agents make their money from their clients, not from properties. Gauge a letting agent by their real estate success. Then listen to what they have to say.
2. Commercial Property in the UK : Budget Realtors Agencies Achieve Budget Results
No one likes to pay more than they need to, but sometimes property consultants are very cheap for a reason. Often high quality costs a little more. A commercial estate agency or real estate consultant should be selected based on results per dollar, not just on cost.
3. Commercial Property : An Excellent Realtor Expert Costs More
Commercial property sales are often a mystery to people in the UK who know a lot more about residential sales. It makes sense because even many young adults are familiar with residential sales through the process of buying and selling family homes. Less people, however, have been involved in placing a commercial property for sale, so choose a commercial property agency that has vast experience in this field. Vast experience means in the field of commercial property listings.
4. Letting Agents Are Only Useful if They Can Help Find and Purchase the Property to be Let
A commercial property or commercial property for lease must first be found and bought, so a London commercial estate agent is needed. Leave real estate to the realestate companies so you can focus on your business.
5. Commercial Property Estate Agents With no References Should be Avoided
References are the tie breaker when trying to choose between multiple commercial property agents. Avoid a commercial estate agent who can’t or won’t provide references. There is no reason for them not to let you speak to one of their previous customers if they were truly having a great working relationship with them.
Niche Marketing - http://nichemarketingexplained.com/
Written by NicheMarketingExplained.com on April 5th, 2009
1. Commercial Property Agents in the UK : Trust Realestate Professionals Who Have Been Successful With Commercial Property
Many commercial property agents make their money from their clients, not from properties. Gauge a letting agent by their real estate success. Then listen to what they have to say.
2. Commercial Property in the UK : Budget Realtors Agencies Achieve Budget Results
No one likes to pay more than they need to, but sometimes property consultants are very cheap for a reason. Often high quality costs a little more. A commercial estate agency or real estate consultant should be selected based on results per dollar, not just on cost.
3. Commercial Property : An Excellent Realtor Expert Costs More
Commercial property sales are often a mystery to people in the UK who know a lot more about residential sales. It makes sense because even many young adults are familiar with residential sales through the process of buying and selling family homes. Less people, however, have been involved in placing a commercial property for sale, so choose a commercial property agency that has vast experience in this field. Vast experience means in the field of commercial property listings.
4. Letting Agents Are Only Useful if They Can Help Find and Purchase the Property to be Let
A commercial property or commercial property for lease must first be found and bought, so a London commercial estate agent is needed. Leave real estate to the realestate companies so you can focus on your business.
5. Commercial Property Estate Agents With no References Should be Avoided
References are the tie breaker when trying to choose between multiple commercial property agents. Avoid a commercial estate agent who can’t or won’t provide references. There is no reason for them not to let you speak to one of their previous customers if they were truly having a great working relationship with them.
Niche Marketing - http://nichemarketingexplained.com/
Friday, 3 April 2009
Contractor Performance ‘’excels’’ at XL Tower
Luxury lifestyle provider, DAMAC Properties has announced that construction at its XL Tower, a modern and elegant commercial tower located at Business Bay, has reached the third floor.The building, being constructed by CSHK Dubai Contracting (LLC) - a group member of China State Construction Engineering (Hong Kong) Ltd is one of two DAMAC projects they are constructing – the second one being ‘Business Tower’ also at Business Bay.
XL Tower reflects a unique elliptical design and provides a total of 161,700 sq.ft. of commercial space to the market. 153,000 sq.ft. will be office space and 8,700 sq.ft. will be dedicated to retail at ground level including shopping arcade, covered walkway, and parking for staff and customers.
“XL Tower is progressing well as per our plan. The pace at which CSHK is operating is encouraging and I am confident that customers will be pleased to move into this state-of-the-art seamlessly integrated property,” Chairman and Founder of DAMAC Holding, Mr. Hussain Sajwani. ‘’ Our continuous progress is testament to our long-term confidence in the real estate market in Dubai and we will continue to focus on our delivery goals.”
On the current market conditions, Mr Peter Riddoch, CEO of DAMAC Properties said that, “The current market correction, presents an opportunity. The current scenario seems painful in the short term but such fluctuations are part of the natural cycle of a growing and maturing property market. No market can beat the supply and demand battle; the market will stabilize and will grow. The underlying demand for property in the Middle East is very strong compared to other parts of the world.’’
Mr Qin Jidong, Deputy Chairman, CSHK Dubai Contracting said that, “We have a proven track record of delivering world class projects and have contracted extensive projects across the region. CSHK plays an active role in the industry by means of sound and responsible management. We have been aggressively driving towards high quality and technically complicated projects.
He added: ‘’We have completed more than 500 projects in over 20 years and have undertaken a number of mega size projects of multi-discipline nature, including industrial, commercial and residential buildings, hospitals, hotels among other projects. We are proud to bring this wealth of experience to the Middle East”.
“We are pleased to build two prestigious projects for DAMAC Properties at Business Bay. XL Tower is a modern and elegantly designed commercial tower that serves as an ideal business location. The tower is equipped with parking on 7 levels with 24-hr security, swipe access, hi-speed internet, and a host of leisure activities like outdoor swimming pool, outdoor jogging track, gymnasium, health club and cafeteria,” concluded Mr. Jidong.
XL Tower project also recorded one of the largest concrete pour in the company’s history when a total of 5,500 cubic meters of concrete was poured in 25 hours
Thursday, 26 March 2009
Gambia Beach Bar and Restaurant for Sale
Gambia Night Club and Beach Bar for Sale - Kololi £800,000
This property is located on the beach front in the main tourist area known as Palme Rima. The site is partially developed and is known as one of the major music venues in The Gambia, playing host to international stars such as Sizzla and Maorgan Heritage from Jamaica, Youssou Ndoour from Senegal and Emerson from Sierra Leone.
The property consists of a covered beach front verandah offering access to the main performance stage, bar and restaurant area. There is a further smaller stage area with covered seating, unfinished VIP area, other unfinished buildings and a large undeveloped court yard.
This property is located on the beach front in the main tourist area known as Palme Rima. The site is partially developed and is known as one of the major music venues in The Gambia, playing host to international stars such as Sizzla and Maorgan Heritage from Jamaica, Youssou Ndoour from Senegal and Emerson from Sierra Leone.
The property consists of a covered beach front verandah offering access to the main performance stage, bar and restaurant area. There is a further smaller stage area with covered seating, unfinished VIP area, other unfinished buildings and a large undeveloped court yard.
Friday, 13 March 2009
UK Pubs For Sale
As the UK is the new overseas property investment destination it seems right to comment on the best commercial investment property available;
Pubs and hotels are now prime targets for the savvy property investor as buying a pub is likely to work out cheaper on a pounds per sq ft basis than buying a house in the same street.
The UK licensed property market is being flooded with cheap empty pub and hotel sites as a combination of cheap beer in supermarkets, rising costs and the smoking ban have taken their toll on the pub trade.The coming months may see the acceleration of the pace of pub closures as pub landlords, breweries and pub companies have had to face up to the pressures of the credit crunch.
The British Beer & Pub Association estimates that four pubs are shutting down every day and that the rate of closures is 14 times faster than in 2005. There are just over 57,000 pubs in Britain today, compared with 69,000 in 1980.
Beer sales in pubs, relative to other outlets such as supermarkets, have been falling for 30 years and according to the BBPA, beer sales over the bar are at their lowest since the Great Depression.
Pub shares have suffered "extraordinary underperformance". Many have retreated 50 per cent from their 2007 highs. Several UK pub chains, embracing high-street names such as the Slug and Lettuce, Hogshead and Walkabout, have collapsed or been forced to sell.
Buying a Pub or Hotel Suitable for Redevelopment
Pubs have a flexible A4 planning 'use class' that normally can be changed to A1 use (say, for a newsagents), A2 (a delicatessen or a firm of solicitors or architects) or A3 (restaurants).
Alternatively, buyers can apply for planning permission to convert the pub or hotel into a residential property. Often pubs come with land, beer gardens or car parks that can be developed. Unless it's a village pub, where community issues come into play, planners are sympathetic to alternative uses. Pubs close because they are not successful businesses and redevelopment helps regenerate the area. In run-down areas, planners often want to keep a commercial use for the pub because this boosts local employment.
Before you buy a run down pub or hotel in need of refurbishment or redevelopment, explore different ways of achieving the best return on your property investment
Modernising a pub. A general decorative overhaul can push up the value of a run down pub or hotel without involving planners, architects and a big investment,.
Converting a pub. At its most simple you might take a large public house or hotel and turn it into flats, but this still involves complex investment budgeting and financing. There's often a large gap between the value of a pub and what it might fetch if redeveloped or converted to offices, shops or flats - but there are also a lot of costs involved, and often a lot of pitfalls. Sometimes it's more profitable to convert the pub into a single house. Planning consent will normally be required in both scenarios. Many Victorian pubs are listed, which can complicate conversion projects.
Change of use as a pub. The conversion of a building from one of business use into housing is a more complex proposition. For example, when converting a pub or hutel into flats, the big, initial risk is trying to buy the property without first applying for planning consent for 'change of use'. You should never buy an investmnet property on the assumption that 'change of use' is possible without serious research into the planning issues and a detailed conversation with local planning officers. Many hotel and pub sales like this are achieved only when they are 'subject to planning', that is, the deal will only be completed, and the full purchase price paid, when planning permission is granted. It is more likely that planning restrictions will be less stringent on a city pub than on a country pub.
The following pubs could either be converted or redeveloped into residential or mixed use accommodation.
Miners Arms
North Wingfield Road, Grassmoor
Chesterfield
Derbyshire S42
Gross Site Area: 5759 sq/ft*
£ 145,000 + VAT Freehold
Printers
Union Road,
Oswaldtwistle
Accrington
Lancashire BB5
£ 185,000 + VAT Freehold
For more Uk Pubs for Sale visit http://paramount-investments.co.uk/
Pubs and hotels are now prime targets for the savvy property investor as buying a pub is likely to work out cheaper on a pounds per sq ft basis than buying a house in the same street.
The UK licensed property market is being flooded with cheap empty pub and hotel sites as a combination of cheap beer in supermarkets, rising costs and the smoking ban have taken their toll on the pub trade.The coming months may see the acceleration of the pace of pub closures as pub landlords, breweries and pub companies have had to face up to the pressures of the credit crunch.
The British Beer & Pub Association estimates that four pubs are shutting down every day and that the rate of closures is 14 times faster than in 2005. There are just over 57,000 pubs in Britain today, compared with 69,000 in 1980.
Beer sales in pubs, relative to other outlets such as supermarkets, have been falling for 30 years and according to the BBPA, beer sales over the bar are at their lowest since the Great Depression.
Pub shares have suffered "extraordinary underperformance". Many have retreated 50 per cent from their 2007 highs. Several UK pub chains, embracing high-street names such as the Slug and Lettuce, Hogshead and Walkabout, have collapsed or been forced to sell.
Buying a Pub or Hotel Suitable for Redevelopment
Pubs have a flexible A4 planning 'use class' that normally can be changed to A1 use (say, for a newsagents), A2 (a delicatessen or a firm of solicitors or architects) or A3 (restaurants).
Alternatively, buyers can apply for planning permission to convert the pub or hotel into a residential property. Often pubs come with land, beer gardens or car parks that can be developed. Unless it's a village pub, where community issues come into play, planners are sympathetic to alternative uses. Pubs close because they are not successful businesses and redevelopment helps regenerate the area. In run-down areas, planners often want to keep a commercial use for the pub because this boosts local employment.
Before you buy a run down pub or hotel in need of refurbishment or redevelopment, explore different ways of achieving the best return on your property investment
Modernising a pub. A general decorative overhaul can push up the value of a run down pub or hotel without involving planners, architects and a big investment,.
Converting a pub. At its most simple you might take a large public house or hotel and turn it into flats, but this still involves complex investment budgeting and financing. There's often a large gap between the value of a pub and what it might fetch if redeveloped or converted to offices, shops or flats - but there are also a lot of costs involved, and often a lot of pitfalls. Sometimes it's more profitable to convert the pub into a single house. Planning consent will normally be required in both scenarios. Many Victorian pubs are listed, which can complicate conversion projects.
Change of use as a pub. The conversion of a building from one of business use into housing is a more complex proposition. For example, when converting a pub or hutel into flats, the big, initial risk is trying to buy the property without first applying for planning consent for 'change of use'. You should never buy an investmnet property on the assumption that 'change of use' is possible without serious research into the planning issues and a detailed conversation with local planning officers. Many hotel and pub sales like this are achieved only when they are 'subject to planning', that is, the deal will only be completed, and the full purchase price paid, when planning permission is granted. It is more likely that planning restrictions will be less stringent on a city pub than on a country pub.
The following pubs could either be converted or redeveloped into residential or mixed use accommodation.
Miners ArmsNorth Wingfield Road, Grassmoor
Chesterfield
Derbyshire S42
Gross Site Area: 5759 sq/ft*
£ 145,000 + VAT Freehold
PrintersUnion Road,
Oswaldtwistle
Accrington
Lancashire BB5
£ 185,000 + VAT Freehold
For more Uk Pubs for Sale visit http://paramount-investments.co.uk/
Wednesday, 11 March 2009
Gambia Beach Front Hotel Investment
Gambia Beach Hotel Investment For Sale - Kololi
This property is located on the beach front in the main tourist area known as Palme Rima. The plot is 80 m by 212m and is fenced on all sides.
14 x 1 bedroom apartments
14 x studios
7 x 2 bedroom apartments
There is a further strip of vacant land with space for a similar development or a number of individual properties.
Kololi is a resort town on the shore of the Atlantic Ocean in Gambia. Kololi is the main tourist area of the Gambia, with the main hotels such as the Senegambia and the Palma Rima. Kololi is monitored by the Gambia Tourist Police.
The Gambia is Europe’s closest tropical destination and Africa’s smallest nation, lying along the mangrove- and jungle-tangled banks of the Gambia river, and stretching from a short Atlantic coastline of sandy beaches into the heart of West African sahel.The gambia is the holiday destination, especially for winter sun holidays, for tourists from all over Europe.
This property is located on the beach front in the main tourist area known as Palme Rima. The plot is 80 m by 212m and is fenced on all sides.
14 x 1 bedroom apartments
14 x studios
7 x 2 bedroom apartments
There is a further strip of vacant land with space for a similar development or a number of individual properties.
Kololi is a resort town on the shore of the Atlantic Ocean in Gambia. Kololi is the main tourist area of the Gambia, with the main hotels such as the Senegambia and the Palma Rima. Kololi is monitored by the Gambia Tourist Police.
The Gambia is Europe’s closest tropical destination and Africa’s smallest nation, lying along the mangrove- and jungle-tangled banks of the Gambia river, and stretching from a short Atlantic coastline of sandy beaches into the heart of West African sahel.The gambia is the holiday destination, especially for winter sun holidays, for tourists from all over Europe.
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