- DATE : December 17, 2019
Hyde Park Residential was appointed to raise £3m for the project after senior debt had been secured. This phase of the project includes the acquisition of two properties, one in the centre of Cambridge and the other in Glasgow (pictured above) and the redevelopment of the sites into two hotels.
With a Gross Development Value of £27m the two hotels of 57 keys and 98 keys respectively are set to open to the public within 18 months following a multi-million pound redevelopment program.
Nicholas Portelli, founder of Hyde Park Residential commented “we are very pleased to have assisted our client secure the necessary funding for this ambitious and very exciting project. We are confident that we will be able to provide investors with similar opportunities in the near future and we look forward to more successes in 2020”.
“Our client’s intention is to create a portfolio of properties initially in key urban locations across the UK, combining affordable luxury accommodation with creative and guest-centric design” Nicholas added.
The main focus will be to offer an affordable pricing strategy, delivered to a 4-star plus fit out but without the food and beverage components of a full-service hotel. The portfolio will expand to locations such as London, Edinburgh, Cardiff, Brighton and Bath.Read More
- DATE : October 28, 2019
Alex Morton, the Head of Policy at the Centre for Policy Studies think tank argues in the report ‘Stamping Down’, that stamp duty has distorted the market to such an extent that the costs of cutting it are far lower than generally realised.
The report quotes evidence that shows that a 1% cut in stamp duty rates increases housing transactions by around 20%. It also shows that more housing transactions lead to more homes being built, as developers respond to market incentives and the fact that more people are in the market to buy new homes which makes it easier to sell new build properties.
The report carries on to say that ‘if transactions were returned to their historic level through other reforms, the boost from stamp duty on top of this would be high, to the point where raising the SDLT threshold could be nearly cost-neutral if accompanied by a 3% surcharge on properties purchased by non-resident overseas buyers – i.e. as investments rather than homes to live in’.
Colvile, Director of the Centre for Policy Studies, said: “It’s no coincidence that stamp duty is
one of the taxes that people hate the most. It’s a huge barrier to people
living in the kind of homes that best fit their families and their lives. And
as our report has shown, the current sky-high levels are doing more harm than
“We urge the Government to take bold action to stamp down on stamp duty, and get the property market moving again.”
- DATE : October 21, 2019
Further to some speculation over the weekend Capital & Counties Properties plc (“Capco“) announced this morning that a consortium led by Candy Ventures, an investment vehicle of Nicholas Candy, is in the early stages of considering a possible cash offer for the entire issued and to be issued share capital of Capco.
Earlier this year, Capco proposed to split its prime London estates of Covent Garden and Earls Court, then last month said that there was progress with parties interested in buying the Earls Court mega project.
UK-based Capital & Counties shares traded 9% higher this morning on the news reaching a market capitalisation of £2.1 billion.Read More
- DATE : September 9, 2019
Hyde Park Residential has entered into a joint venture with Malta based ARQ Group, to establish Trafalgar Real Estate Developments Limited. This new UK registered company aims to introduce both Maltese and international investors to development opportunities in the London real estate sector.
Targeted development sites will be in and around Central London within the Greater London commuter belt, therefore having excellent road and rail connections. This focus is driven by the lack of supply of more affordable housing in Central London or that is within a reasonable commute to Central London. Demand is driven by a combination of first-time buyers as well as persons working within the Greater London area.
Hyde Park Residential is one of London’s leading, independent property advisory and acquisition firms. This year the company was included in the PrimeResi directory of 50 best buying agencies in Britain.
ARQ is a professional services organisation based in Malta, providing a wide range of corporate and advisory services to local and international clients operating within different industry sectors.Read More
- DATE : August 29, 2019
As talk of a ‘no deal’ Brexit (and now a general election) continue, and the trade dispute between China and the US carries on, it comes as no surprise that global financial markets are uneasy. Recent announcements of GDP contraction in the UK and Germany do not help either.
Despite this backdrop some investors are carrying on with business. Earlier this month builders Berkeley Group unveiled plans for a 1,800-home ‘King’s Road Park’ scheme in Fulham, and the Battersea Power Station Chief Executive was quoted saying that sales are now “running at £10m a month” . Similar activity is being registered in the commercial sector. Earlier today it was announced that Mayfair Capital completed on its £113m acquisition of the Bonhill Building in Shoreditch from Legal and General.
Notwithstanding the current uncertainty, London is managing to retains its place as a key investment destination and the weakness of the pound is making it more attractive.