UK surveyors report surge in activity as investors try to beat tax rise

By James Russell In News & Current Affairs No comments

LONDON – British property valuers reported a surge of activity on Thursday as property investors tried to beat an increase in transaction taxes on rental investments coming into force in April. Demand for housing remains buoyant, lifted by tight supply, record employment and cheap mortgage rates, even as the global economic outlook darkens — something […]

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Construction industry ends on a high

By James Russell In News & Current Affairs No comments

Growth in the UK construction industry picked up in December from a seven-month low in November, helped by a rise in commercial building on the back of the country’s economic recovery. The Markit/CIPS UK Construction Purchasing Managers’ Index rose to 57.8 from 55.3, above the median forecast of 56.0 in a Reuters poll of economists. […]

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Record Fine for Flats built without permission

By James Russell In News & Current Affairs No comments

There was an interesting article in a recent copy of the London Evening Standard, where Hackney Council have issued a record fine of £735,000 to Garland Development Ltd. Additionally, the Council ordered that the apartment block valued at £10,000,000 and built by the Developer is demolished. This is a long-running dispute, and in 2011, Hackney […]

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British Land expects build costs to rise 5-6%

By James Russell In News & Current Affairs No comments

British Land is factoring in annual construction cost rises of 5-6% on central London sites. The developer said: “There are signs that increases in construction costs are moderating, reflecting lower raw material costs. “However, tender prices still reflect limited capacity in the industry with contractors seeking to restore margins and limit their risk exposure. “In […]

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More bolt trouble for Severfield

By James Russell In News & Current Affairs No comments

The company forced to replace dozens of giant bolts on the City’s Cheesegrater skyscraper has run into more difficulties on another high-profile London project – this time the £650 million US embassy in Vauxhall. Steelwork firm Severfield took a £6 million hit on the skyscraper in results last month after some of the bolts broke […]

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