It’s been all go here at VATBRIDGE! This week we attended the Bridging & Commercial Awards 2018. Sadly, we didn’t win – but there’s always next year. There’s been a lot going on in the commercial property world too…
Last time we looked at a Grade office development in Belfast, developers and ‘eco’ building, UK construction rebounding and transfer pricing tax.
This time we’re looking at a regeneration zone in London, letting agent fraud, the collapse of Lambert Contracts and converting the Stockport sorting office.
Greenwich Peninsula Regeneration Zone
London is growing all the time and soon there will be even more in Greenwich. The upcoming regeneration zone has a whopping £8.4 billion budget and it set on 1.6 miles of waterfront.
It’s thought that it could create nearly 16,000 homes in the area over the course of the next 15 years, which is great news for businesses.
In 2013, developer Knight Dragon bought a 150-acre chunk of land there – and it’s set to be one of their best investments to date.
Find out more about this news story via Homes & Property.
Could PropTech Help To Reduce Letting Agency Fraud?
PayProp, a successful PropTech firm, claim that making rental payment automated can significantly reduce fraud from rogue letting agents who withhold client money.
The government have responded to the rise in this kind of fraud by requiring all agents to now be a CMP (Client Money Protection) member – coming into force April 2019.
The idea is to protect both the tenant and the landlord when a letting agency misappropriates the funds or go out of business.
Find out more about this news story via Property Reporter.
Lambert Contracts Goes Into Administration
The collapse of the construction firm, based in Scotland, has meant that a total of 77 staff members have lost their jobs so far. The firm were reportedly struggling with cash flow issues.
This follows the news of several other Scottish construction businesses going under in the last couple of weeks.
The company had offices in Aberdeen and Paisley and turned over £14.7m in the year to 30 April 2017.
Find out more about this news story via BBC News.
Sorting Out The Stockport Sorting Office
The former sorting office on Exchange Street has been recommended approval to convert the building into apartments and commercial space.
Rowlinson and Housing Capital Trust submitted plans for the building in January after it remained vacant from 2010.
The plans include over 100 apartments and 12,000 sq ft of commercial space (with room for offices and retail space).
Find out more about this news story via Place North West.
That’s all for this week, make sure to stay tuned for more commercial property news. If you want even more up to date information then please visit our Twitter page at @VAT_BRIDGE – where you’ll find a whole bunch of daily news and insights.