Henrik Court’s Post

Property and construction news…..   Savills has increased its forecast for house price growth based on an improved economic outlook. The company now forecast 21.6% growth by the end of 2028 (previously forecast at 17.9%). If this did happen the average house price would increase to £346k from its current average of £285k.   Firstsource Solutions has agreed a deal for 15k sq.ft. at Tricorn House on Hagley Road. The business process management service company will have desk space for 240 people, a training room, meeting rooms, breakout space and a kitchen.   Sutton Coldfield town centre is set to undergo a major transformation with Birmingham Property Group and SAV Group releasing artist impressions of what The Gracechurch Centre will look like when completed. Two public consultations will now be taking place. The scheme includes 700 apartments, cafes, restaurants and shops. Two thirds of the current site will be demolished as part of the plans with two new squares being created for public events.   Metalor Technologies have submitted plans for a £15m, 22k sq.ft. precious metals facility to be built on Longbridge Business Park. It is hoped that construction will begin before the end of the year.   Photograph: Latest progress at the Beorma Quarter opposite Selfridges in Birmingham   #property #construction #housing #offices #business  

Cited Property are instructed to sell the House of Fraser in Darlington. Darlington is a historic and industrial market town in the County of Durham, England. Renowned for its engineering industries, award-winning theatre and arts venues.     The subject property is situated in a commanding, corner position at the junction of Blackwellgate and High Row at the southern end of the town’s main retailing area. Thanks to its substantial footprint, the property also benefits from frontages on to Blackwellgate and Mechanics Yard. It is located less than 200 metres from the Cornmill Shopping Centre which is the town’s main shopping destination. Other nearby occupiers include Boyes, Greggs, Caffe Nero and the popular Darlington Covered Market. The property is formed by several buildings that have been amalgamated to provide the current arrangement. The department store totals approximately 145,556 sq ft (GIA) and is arranged over lower ground, ground and four upper floors. The subject property is on a licence to occupy to House of Fraser. The licence was signed in 2021 by SDI (PROPCO 37) Limited. House of Fraser are currently trading from the property by way of a license to occupy. The license is determinable by both landlord and licensee at any point subject to not less than 3 months’ notice. The subject property is a local and cultural landmark that could be suited to an array of alternative uses, subject to planning and feasibility. We believe options include: • New Lease – either with the existing or an alternative occupier on the current demise. • Mixed-Use Redevelopment – we believe the ground floor could be reconfigured to provide a combination of high-quality retail and leisure units. The upper parts could then be repurposed for either residential, office or hotel use. • Leisure – there are numerous requirements for large town centre space from indoor entertainment and experiential leisure occupiers. • Cultural, Health & Community – working alongside the local authority to capitalise on the advancing regeneration of Darlington town centre and repurposing one of the town’s most iconic buildings to a community use. We are instructed to seek offers in excess of £1,000,000, subject to contract and exclusive of VAT. A purchase at this level would reflect a capital value per sq ft of just £6.87. For further information, please get in contact with Benjamin Wood or Bradley Maher. #darlington #retail #sale #assetmanagement #durham #property #commerical #opportunity #getintouch

🚧 Major Changes Announced for Liverpool Street Station Redevelopment 🚧 It's official—Sellar and Network Rail are making significant revisions to their £1.5bn Liverpool Street station redevelopment project. This comes after substantial pushback from heritage campaigners and various stakeholders. The original scheme, which included a controversial 20-storey office block, has been reimagined to be "much more heritage-led." 🏛️ The revised plan has evolved since spring, following over 2,200 objections from the public, local councils, and Historic England. Some of the contemporary additions inside the Victorian station have been scrapped, preserving more of its historic essence. Lead architect Herzog & de Meuron is now focused on retaining key areas of high value while reducing the project's scale and floorage. The office and hotel tower, which initially received a lot of criticism, will still be part of the development but with significant modifications in height and massing to minimize its impact on the surrounding heritage buildings. This rethink aligns closely with Network Rail's enhanced involvement, ensuring a balance between modern needs and preserving historic legacy. As a recruiter, it's fascinating to see how development projects adapt based on public and professional input. It's a reminder of the importance of listening and adapting to stakeholder feedback—something we're keenly aware of in our industry. What are your thoughts on balancing heritage and modernity in redevelopment projects? #UrbanDevelopment #HeritageConservation #LiverpoolStreetStation

Property and construction news…..   Proposals for 1,300 apartments and commercial space around the River Rea and to the south of Moseley Street, have been approved. The scheme will open up the largely hidden river with new pedestrian routes and public spaces. The developers are Dandara Living.    A building that was once home to one of the world’s largest glass makers Chances, has been placed on the Victorian Society’s endangered buildings list. Located in Smethwick, Birmingham, the company used to employ 3.5k people. Glass was supplied across the world including the White House in the USA, and the Houses of Parliament in London to name just two examples. It is hoped the building will be restored providing houses, business space and a heritage centre - a capital grant application has been submitted to West Midlands Combined Authority.   According to representatives from Knight Frank, Savills, and St Mowden Homes, the best places to purchase a home in the Midlands is Droitwich, Birmingham’s Gun Quarter, Jewellery Quarter, Lichfield, Longbridge, Long Marston, Solihull, Sutton Coldfield and Worcester.   According to Nationwide, house prices increased by 0.4%. The average UK house price is £264,249 (April was £261,962).   According to GetAgent - an estate agent comparison site, Birmingham is currently the third hardest place to sell a house (Leicester and London were ranked one and two). At the opposite end of the scale Sheffield has the most active market. The company’s research findings stated that only 14.3% of properties in England found a buyer within 30 days.   Wavensmere Homes has shared proposals for its £150m Canalside South development in Wolverhampton. Subject to planning consent, 520 homes will be constructed with a range of commercial amenities in dis-used railway arches. 100 new jobs will be created and a public consultation runs until 28 June.   #property #construction #business #housing 

Exciting Investment Opportunity: Prime Rental Property in Leicester 🌟 Location: Orton Road, Leicester, LE4 🏡 Property Type: Detached Property 🔍 Condition: Grade 4/5 – Modern and clean interior 💼 Strategy: Perfect for Renting to Business Professionals This detached property on Orton Road in Leicester offers an incredible opportunity for savvy investors looking to rent to business professionals. With its modern and clean interior, it's ready to attract high-quality tenants. Key Details: 1. Asking Price: £200,000 2. Offer Price: £175,000 (offer secured) Why This Property? Location: Leicester is a bustling city with a strong business community, making it ideal for professional tenants. Condition: The property is in excellent condition, minimizing initial refurbishment costs and ensuring a quick turnaround to market. Investment Potential: With a strategic refurbishment plan and targeted marketing, this property can yield a high return on investment by attracting business professionals seeking quality accommodation. Don't miss out on this prime investment opportunity. Contact us today for more details and to schedule a viewing! #RealEstateInvestment #LeicesterProperty #BusinessProfessionals #RentalProperty #InvestmentOpportunity #PropertyForRent #ModernLiving #PropertyMarket #CashInvestment

Good to be at the NLA tall buildings event last night to see plans for how London's skyline is expected to change in the coming years. The new Government's recently announced mandatory housing targets and limited land supply mean that we can expect to see more building upwards in years to come. Some interesting topics discussed: • The challenges of developing in a constrained space, such as central London, mean that large parts of new buildings are pre-fabricated off-site, and brought on-site just in time to be hoisted in to place. This also has the benefit of speeding up the on-site construction phase, with one case study saying that a new floor is being completed at their current development every 6 days. • As with all areas of construction, environmental considerations are front and centre of developers' minds. In order to reduce embodied carbon emissions associated with demolition, there is a trend towards raising the height of existing buildings. In order to do so, engineers need to have a very good understanding of the existing structure to ensure that there is sufficient load bearing capacity. Hopefully the 'golden thread' requirements of the Building Safety Act will make this task easier in future. • There was a great emphasis on placemaking, with a move towards parts of tall buildings being available for public use. One speaker spoke of creating a vertical high street, with cafes, bars, restaurants, GP surgeries and other uses being spread throughout the building to foster greater connectivity between floors.  #realestate #propertydevelopment #Dentons

"What is particularly striking is that the bulk of these schemes are squeezed into a relatively small part of the Square Mile, gathered around the cluster of towers that includes 22 Bishopsgate, the Gherkin and the Cheesegrater. At least 18 major schemes – most of them towers more than 30 storeys in height – are now being drawn up for a stretch of land running from Broadgate in the north, past Liverpool Street station, down Bishopsgate and ending at Gracechurch Street in the south. From conversations that Building has had with developers and consultants, it seems at least 10 more schemes in the area are also being developed but have yet to be made public." "If the construction timelines of the City’s commercial developers are to be believed, most of these schemes will be built over the next five years. This would transform what is already one of the busiest thoroughfares in London – anyone who has attempted to fight their way down the narrow pavements of Bishopsgate at rush-hour can attest to this – into one huge construction zone dominated by walls of hoardings for most of the rest of this decade." #construction In Building Magazine, Tom Lowe discusses the surge of proposals for big developments in the City of London as well as how this could transform the area and spark competition between developers. Lowe also discusses the City's past smaller schemes, what it takes for the proposed schemes to be picked over others, the issues that could arise if schemes go ahead at the same time and much more. https://lnkd.in/eWCtzuj2

Property and construction news…..   The latest Smithfield Development proposals have been deferred due to concerns about the size of the open space/central square and its potential use for events. The scheme will see a mix of commercial offices, residential and retail space with leisure developments that include a theatre and a park.   Properties belonging to Birmingham City Council have been auctioned off raising £2.2m. The properties sold within an hour with most of the sales exceeding their guide prices - though one property fell short of the guide price and was not sold, and two other properties were withdrawn before the auction started.   Manchester-based developer Glenbrook has looked to dispel rumours that Birmingham’s Electric Cinema is to be bulldozed as part of a Station Street re-development scheme (which does not include the Old Rep or Crown Pub). Glenbrook has stated that they are looking to retain the cinema but create more screens and feature an exhibition space within it. The company stated it would look to attract an independent operator for the cinema. As part of the wider scheme, Glenbrook are hoping to create a new public space and would ideally like to close the road to traffic. Planning consent has been granted to Goold Estates to construct fifteen industrial and distribution units (2.5k sq.ft to 60k sq.ft. in size) at Bilston Urban Village employment site. The scheme will be called Foundry Park.   #property #construction #business #housing #development

What's Happening in #Tampa / #StPete: The Miami group behind Edge Collective, a mixed-use project in St. Petersburg’s Edge district, has paid $14.75 million for an assemblage of parcels for the development’s second phase! PTM Partners closed on several parcels in the 1100 block of Central Avenue on Jan. 31. The sellers were Tricera Capital and Eastman Equity. The first phase of Edge Collective includes the Moxy Hotel and the renovation of a historic #office and #commercial building. Phase two will include 350 #residential units via a 20-story tower and a seven-story building. The project will also include 20,000 square feet of #retail space and 350 #parking spaces. Construction on the Moxy Hotel is expected to be completed in the next five to six weeks. The hotel team will then need six to eight weeks to officially open the hotel. The group plans to begin #construction on phase two by the end of 2024 or early 2025. https://lnkd.in/gkCNMYJk Nicholas Pantuliano Michael Tillman Thomas Strand, CFA #multifamily #apartment #mixeduse #development #redevelopment #DTSP #stpeterealestate #tamparealestate #cre #realestate

Announced Projects I am looking forward to in #Tampa / #StPete: The Miami group behind Edge Collective, a mixed-use project in St. Petersburg’s Edge district, has paid $14.75 million for an assemblage of parcels for the development’s second phase! PTM Partners closed on several parcels in the 1100 block of Central Avenue on Jan. 31. The sellers were Tricera Capital and Eastman Equity. The first phase of Edge Collective includes the Moxy Hotel and the renovation of a historic #office and #commercial building. Phase two will include 350 #residential units via a 20-story tower and a seven-story building. The project will also include 20,000 square feet of #retail space and 350 #parking spaces. Construction on the Moxy Hotel is expected to be completed in the next five to six weeks. The hotel team will then need six to eight weeks to officially open the hotel. The group plans to begin #construction on phase two by the end of 2024 or early 2025. https://lnkd.in/gkCNMYJk Nicholas Pantuliano Michael Tillman Thomas Strand, CFA #multifamily #apartment #mixeduse #development #redevelopment #DTSP #stpeterealestate #tamparealestate #cre #realestate