020 7538 0102
19th February 2016
Property management group Al Mubarakia has secured a £21m debt facility from Gatehouse Bank to fund the conversion of an office block at Sovereign Court, near Tobacco Dock in Wapping, into 124 one- and two-bedroom apartments. The project, part of a larger plan to develop the area around Tobacco Dock, is expected to take nine months to complete.
Property Week (18/02/2016)
19th February 2016
New data from LonRes shows that average values near the Olympic Park in London’s Stratford have grown from £171,081 in 2005 to £293,105 today, a 71% increase, while averages in the wider borough of Newham are up 47%. Since 2010, their average house prices have risen 60% and 43% respectively, compared with 36% across Greater London.
Evening Standard (10/02/2016)
19th February 2016
A new report shows that asking prices have hit a record high of almost £300,000, with sellers seeking an average of £299,287 across England and Wales so far in February. This marks a £8,324, or 2.9%, increase on the average asking price in January and is £2,738 above the previous high seen in October 2015. London and the east saw the biggest increases, with a 10.5% climb in the past year as averages hit £643,843 in the capital and the east seeing a 10.7% climb to £321,630.
The Daily Telegraph (15/02/2016)
19th February 2016
The Standard says a trend for London homeowners to improve their homes rather than moving to new ones is gathering pace, with a 12.6% increase in planning applications for major home extensions in a year, up from 31,760 to 35,776.
Evening Standard (17/02016)
19th February 2016
The Government has launched a consultation into the feasibility of building upwards on existing properties in London, including blocks of flats and houses as well as shops and offices, without the need for planning permission. Planning minister Brandon Lewis said: “We are now going further and looking to the best ways to build upwards in the capital to deliver much-needed homes in those areas where it's appropriate”.
Daily Mail (18/02/20116)
12th February 2016
New figures show that East London has four times more rooms available to rent than any other district in the capital, with Canary Wharf and the Docklands topping the list with almost 9,000 looking to be filled, at an average rent of almost £800 per month.
The Wharf (11/02/2016)