Derbyshire is very fortunate to benefit from an enviable selection of period property, Derby particularly boasts some of the best examples of Georgian period property outside of Bath and London. There are some very good examples in the various market and small towns of Ashbourne, Matlock, Bakewell and Melbourne. When restoring a period property it is all about the details, these are the things that the untrained eye will miss but can make or break the overall quality of a period property renovation. There is little point getting the sash windows mouldings and glazing proportions to match perfectly and then fitting the wrongs style or period of window furniture or hardware. Even with the brick work it’s not just the correct type of brick and mortar it’s the bond and pointing. There is no point in laying a perfect row of the correct bricks in stretchers with 15mm weather strike pointing. When it should be brushed 5mm English bond, so ask yourself a question before you hand over your period property or renovation project to a building contractor are they really period property experts? You will only have one chance to get your renovation project right and leave a wonderful legacy for future generations to enjoy. So take the time to make sure you have the right renovation specialists managing your period property renovations.
£100,000 pounds lost in your garden?
January 22, 2012
Is your garden a potential development site? Could it be worth tens of thousands of pounds? If so how do you know? Well the answer to most people and even novice property developers is that they do not. So how do you liquidate that cash tied up in a side or rear garden the first step is to obtain the “planning gain”. This is the uplift in value of the site or property when planning permission is granted, the next pocket of cash is the developer’s profit. This is the profit obtained by the developer who takes the site to a saleable finished dwelling or other building. The planning gain can vary massively dependant on many variables. The developers profit can also vary greatly but most developers look to take profits between 12-18 percent dependant on the risk of the build and the saleability of the finished product. The profit is the gross development valve (GDV) minus the build costs, land value and soft costs. So how do you find the profit? You need to find a good planning consultant and a joint venture partner, they will take you through planning and offer you a profit share when the development is completed.
Construction industry sees 5,000 firms go to the wall since 2010
January 20, 2012
The construction industry has seen over 5,000 firms go into liquidation since 2010 and Pwc are expecting 2012 to be a similarly tough year. 2011 saw a 6% rise in insolvencies from 2010 with the final quarter seeing 656 construction firms fail. Many firms have been hit by a double whammy of a massively reduced speculative development and new build demand coupled with a huge slow down in public sector building projects. Interestingly as the market stalls and construction firms suffer from a lack of new tenders arriving at their offices. Other fragments of the construction and property market are seeing some increase in activity. With planning consultants and architects seeing a growth in those sat on land and disused buildings looking to maximise their value or prepare site for sale through value engineering.
Property market welcomes £4 billion pledged by government to kick start developments
November 29, 2011
The property market has been desperate for new build housing stock and assistance for first time buyers. The governments announcement that it will back the proposed new-build mortgage indemnity scheme coupled with the 4 billion it plans to invest to kick start stalled developments means Christmas has come early for the property sector? Well it is good news but is it what they really want? Developers, house builders, main contractors and surveyors are all keen to see a sensible return to 95% loan to value mortgages. Once home buyers can easily secure their dream homes with a 5% deposit the housing market will open up. This will really assist the UK’s economic recovery as it will increase employment in the property and construction sectors.
Adverse structural survey scuppering your property sale or purchase?
October 22, 2011
Have you found your dream home only to find out it has some structural issues? Frightened by structural problems? Worried about underpinning? There are many issues that can affect properties but those affecting the structural integrity of a house or business premises are the ones that concern buyers and sellers the most. So what is the best course of action if the survey comes back with structural issues? There are two positive steps that can be taken dependant on the issues concerned. If it is a simple defect like a defective lintel most competent building contractors should be capable of pricing up a sensible structural solution. If the problems are more serious you need a good structural engineer who will be able to provide recommendations and the best value solutions. For just a couple of hundred pounds you could save thousands by avoiding unnecessary work or missing out on your dream property. Many people are very concerned about structural issues that can often be resolved for less than a year’s mortgage payments. Interestingly many people go ahead with property purchases only to find out later that structural problems exist that have been concealed. How often have we heard “we did not know anything about it until we took the render or plaster off”. Whatever the structural issue it is without a doubt sensible to get an expert opinion. Often there can be temporary fixes that might not last but can save thousands in the long term.
Cracked or sunken concrete floors and driveways
October 8, 2011
Cracked concrete floors and drives can be repaired using various methods including resins and stitching bars. The repairs can vary in costs and complexity but they can often be the symptoms of other issues like cracked and damaged drains or poor subfloor infill material. So how can you tell if you have a more serious issue? There are several checks than can be done usually the excavation of trial holes or the drilling of bore hole concrete samples. These give indications of the areas that have been drilled or excavated but they cannot guarantee that the entire area of a floor or concrete is in a stable condition. There are various repair methods including slab jacking using polymers to force up the damaged floor and stabilise the sub floor. The only way to be completing sure you have resolved the issue is to remove the concrete excavate and reinstate the floor or concrete. The other consideration is the cause of the original issue very often damaged or leaking drains or poor original construction technique are the cause. Damaged underground water pipes can also be an issue, even water wells, Washery tanks, old dumps or tips can be are another cause. So what is the best thing to do if you face one of these issues? Find a good structural engineer or a building contractor who can put you in touch with a structural engineer.
Estate agents and buyers switch on to lower energy costs
September 22, 2011
The Royal institute of Chartered Surveyors has reported improved valuations on properties that feature stainable and low energy improvements and features. Buyers and agents have been slow in appreciating the increases in a properties capital value from money invested in sustainable and energy saving features. Now reports are showing that both property purchasers and Estate agents are prepared to up sale prices for greener and more eco friendly dwellings. With the introduction of energy ratings and the increases in fuel costs buyers are much more switched on to energy saving additions to properties. It seems that buyers are more focused on savings in running costs than their green credentials but the outcome is the same. Interestingly it has been sited that a similar issue revolved around central heating in the 70’s when buyers were not prepared to pay a premium for properties featuring central heating. In the 70’s many buyers did not see this as an essential on their wish list. With the running costs of large period properties ever increasing those that feature retrospective insulation and other sustainable features buyer can now see a clear pay back and are more prepared to pay more for these additions.
Asks the experts free building and property advice
June 25, 2011
Do you have a building or property related question and you are not sure where to get the answer? Having a long track record of success in the building industry in the midlands for many years we have built up an enviable network of trusted and seasoned professionals that can assist in all building and property issues. We want to hear from YOU!
Please leave a comment and let us put it to our panel of experts and we will be able to give you some free advice that could save you thousands of pounds. We have access to some of Derbyshire’s finest, commercial surveyors, property lawyers, mortgage brokers, structural engineers, quantity surveyors and architects.
UK construction industry set to boom as new builds are forecast to rise by 18 percent
May 6, 2011
The figures come from a recent survey of house builders and paint a surprisingly favorable picture of the UK speculative development and house building sectors. Following this construction costs are expected to rise by 2% as the spare capacity in the sector is taken up. The price of new build homes is also expected to rise by around 3% and this often signals a balance point in the property market. So the next question is what will happen to land values? With new build sites languishing at around 60% of their value during 2007 many site owners have been playing a waiting game.
New house building levels low but there are still active developers
April 22, 2011
Whilst official reports may state that house building is not progressing as it once was ; from which one could easily get the impression that such projects have completely come to a standstill in the U.K., it is good to see and note that new housing schemes are currently progressing with examples such as Belper where a previous industrial site is being used with residential properties presently under construction. I am also aware of a large development about an hour and a half?s drive away from Belper at York where 540 new houses have just started to be built within a mile or so of the city centre.
Developments such as the above show that housing schemes are in fact active and whilst nationally they may not be at the level they once were, things have not stopped and where you live, or near to where you live, may be better than you would expect in that new houses are still being built.
