In a bid to further support its rapid growth, the property data specialist Sprift, has been selected for PwC’s latest Raise Programme.
Since its launch in 2016, Sprift has worked tirelessly to change market behaviours through improved UK property data – helping to reduce transaction fall-through rates. To date, there are over 28 million properties stored on the Sprift platform. The company has produced nearly 500,000 reports for clients and saved them more than £19.5 million worth of research hours.
The objective of the Raise programme is to make the fundraising process for entrepreneurs and investors as efficient as possible, and to minimise the high levels of disruption typically associated with a fundraise for the management team. This culminates in PwC holding an investor day with 60 warm institutional investors to help propel the selected businesses forwards.
Matt Gilpin, CEO at Sprift, said: “We are thrilled to have been selected to be part of such an impressive programme, and to have made the cut and belong to the top 0.5% of applicants selected. It is excellent to be aligned with a prestigious brand such as PwC, and we are excited about the potential opportunities that lie ahead.
“Sprift aims to be the property data supplier to the industry, and for everyone in the property supply chain to have access to the same single source of trusted data – closing the gap between estate agents and conveyancers. In order to achieve this, we need to extend our marketing presence and to really ramp up our – rapidly growing – operations.”
Sprift offers the most comprehensive source of data on UK properties. The data is made available to any property professional to share with their clients, either through an online dashboard or fully white-labelled vendor and buyer reports. For further information, please visit www.sprift.com.
A new development in Highnam has now been completed, with all of the new homes there now built and sold.
Bellway has provided 88 two, three, four and five-bedroom homes at Lassington Reach, off Lassington Lane.
The housebuilder is now planning to give home-hunters another chance to buy a new home in the area, having recently submitted detailed plans to build 50 properties on a site five miles from Highnam, on land east of Hempsted Lane in Gloucester.
The reserved matters application to Gloucester City Council includes proposals for 30 four and five-bedroom houses for private sale, and 20 affordable homes comprising one and two-bedroom apartments and three and four-bedroom houses. Some of the affordable housing will be suitable for wheelchair users.
The proposed development will also include cycleways, footpaths, and the restoration of an orchard at the south of the site.
Sales Director for Bellway Wales, Billie Oaten, said: “As the last homes have now been built and sold at Lassington Reach, it has been great to see a new community gradually forming, with a real mix of buyers finding themselves their ideal home at the development.
“Customers here have been drawn by the high-quality, great-value homes in a peaceful Gloucestershire location, within easy reach of the cathedral city of Gloucester.
“Our new planned development off Hempsted Lane in Gloucester will also deliver a wide range of homes and we look forward to working with the local authority to move forward with the plans in due course.
“The site offers views of Gloucester Cathedral and the steeple of St Nicholas Church, as well as the warehouse buildings of the city’s docks.
“The development will bring a new lease of life to the area as we welcome new residents, while also restoring the historic orchard at the south of the site.”
The awards are presented for social and environmental sustainability and Wednesday’s virtual ceremony revealed a silver award for Global Good Company of the Year, in recognition of the housebuilder’s commitment to creating thriving communities, building responsibly and valuing people.
Matthew Pratt, Redrow’s chief executive, said: “We’re delighted to win a silver award with our first ever entry into this prestigious and very important awards programme.
“Previously we’ve earned recognition within the housebuilding and construction sector for our sustainability and biodiversity, including awards from organisations like NextGeneration and Ciria’s BIG Biodiversity Challenge. However, this is the first time we’ve competed for such sustainability honours on a multi-sector, international platform and it is an excellent result.”
From a city council’s carbon management programme and an eight-month tech training scheme, to a circular economy event company that only uses waste materials and an initiative in India helping to prepare young women for leadership roles, this year’s GGA winners span organisations both large and small from across the world.
Redrow’s success came on the back of the massive investment it makes in the communities where it builds, a commitment to inspiring the next generation to build, delivery of independently verified 5-star customer service and for adhering to placemaking principles designed to create ‘a better way to live’.
93% of products, services and labour procured locally
98% of waste diverted from landfill
99.9% of timber responsibly sourced and credibly certified
160 trainees recruited, including 107 apprentices
Established in 2015, the Global Good Awards (previously known as the National CSR Awards) recognise and reward organisations of all shapes and sizes that are making strides towards a better world for people, the planet and the global economy. They recognise achievements in sustainable business practice across 15 categories including Company of the Year, Best Start-Up and Environmental Behaviour Change.
Household names recognised in previous years include M&S, Tesco, Jaguar Landrover, Sky, Aviva, Halfords and Canon.
Unfortunately the Covid pandemic put paid to this year’s live event in London but Redrow representatives were able to join a virtual ceremony that was preceded by topical webinars on subjects including ‘The Environmental Impact of Digital’ and ‘Social Justice is everyone’s business’, while the ceremony itself included quizzes and a special performance by Britain’s Got Talent semi-finalists Kids SOS.
The Global Good Company of the Year announcement was the final award and one of the most hotly contested categories. Redrow was narrowly pipped at the post for gold by Tideway, the company building London’s ‘super sewer’, delivering major infrastructure and leaving the capital a lasting legacy by bringing jobs and recreation back to the River Thames.
Pure Commercial Finance has announced a rebrand under the name of Pure Property Finance and has also announced the launch of its parent company, Pure Advisory Group.
In the last 14 months, Pure Advisory Group saw the launch of two new brands to sit alongside, at the time, Pure Commercial Finance; Pure Wealth Management and Pure Structured Finance.
Heading up Pure Structured Finance, targeting more complex debt structures and higher value transactions, is Managing Director, Andrew Hosford, while Paul Cox is the Managing Director of Pure Wealth Management, an independent financial advisory practice that he runs with fellow Director, Stuart d’Ivry.
Ben Lloyd, Managing Director of Pure Property Finance and Pure Advisory Group, says:
“When we set up Pure Commercial Finance back in 2013, we were solely focused on the commercial and residential investment market and at that time, we considered ourselves as commercial finance brokers exclusively. Since then, we have broadened our FCA permissions and added various regulated consumer products to our service offering residential 1st and 2nd charge with specialist teams within the business to service those client types.”
“With the emergence and growth of those teams it has seen our regulated consumer business catch up our investment business, so we took the view to make our name less niche and more in line with our broader offering.”
“This now closes the loop for Pure Advisory Group on a period of major investment into the diversification of what advisory support we bring to our clients across the various stages of their financial cycle.”
Currently across the group, there are 30 members of staff, with plans to employ more by the end of 2020, if Pure Advisory Group hits their growth targets.
The addition of two brands this year came after Pure Commercial Finance was named Best Commercial Broker at the Bridging and Commercial Awards 2019, as well as being nominated for three of their 2020 awards.
Bellway has sold more than half the homes at a development in Melksham where land has been allocated for a new village hall.
Bellway South West will hand over a parcel of land at Bowood View to Melksham Without Parish Council so a new village hall can be built and will pay £500,000 towards the costs.
There will be 150 homes in total at Bowood View. More than 40 homes have been handed over to their owners so far and many more have been reserved off-plan.
Sales Manager for Bellway South West, Rachel Way, said: “Bowood View has proven popular with people from Melksham and surrounding villages who are looking to secure a new home in this thriving area of Wiltshire.
“Even through a difficult time for the property market, we continued to receive enquiries from people who were looking to move. It is a positive sign for the local economy that people are keen to remain in the area.
“As soon as we were able to reopen the development, appointments were quickly taken up. Changes to stamp duty have also generated an increase in people committing to a move.
“Bowood View demonstrates the wider benefits new developments can bring to communities. As well and the investment in a new village hall, Bellway is providing affordable homes for local people, contributing more than £700,000 to secondary education and a further £45,000 for public art.
“New homes must be accompanied by infrastructure to support the new residents and this will certainly be the case here.”
Strict safety measures have been adopted and people can visit the showhome by appointment. The four-bedroom Wroughton showhome is a detached house with an open-plan kitchen and dining area, a separate living room and dining room which can also be used as a playroom, study or home office. A three-bedroom detached Shipton house is also available to view.
Bellway has made video tours of various house types available on its website page for Bowood View so people can familiarise themselves with the homes before their appointment.
Bellway has received the highest five-star rating from the Home Builders Federation (HBF). This means more than nine in 10 customers who responded to an industry survey would recommend Bellway to a friend.
At Bowood View, a selection of two, three and four-bedroom homes are available to purchase, with prices currently ranging from £219,995 to £378,995. For more information, visit bellway.co.uk or call 01225 569196.
Bellway has shown its commitment to Leicestershire by investing more than £11 million into local facilities and infrastructure over the past 10 years.
Since 2010, five-star builder Bellway, which has its East Midlands head office at Meridian Business Park in Leicester, has delivered 21 new homes developments across Leicestershire in this time.
As part of the planning agreements for these developments, Bellway has made significant contributions into the local area, including education, transport links and health care.
Bellway is currently building in three Leicestershire locations – Heather, Frisby on the Wreake and Waltham on the Wolds – which will all benefit from a boost to their economy.
In Heather, Bellway will be contributing more than £66,000 towards education, as well as over £17,000 towards GP services. Frisby on the Wreake will benefit from a £390,000 contribution towards local education, while Waltham on the Wolds will receive investment into education, library facilities, health care and a new bus stop.
Carolyne Watkinson, Sales Director for Bellway East Midlands, said: “It is extremely important to us that we invest in the local communities we are building new homes in.
“Over the past 10 years, we have worked closely with the authorities across Leicestershire to ensure we are delivering much-needed new homes and investment for new and existing residents.
“We are really proud of our longstanding commitment to the area and we will continue to invest in the county as we deliver our current and future developments.”
Many of the contributions will have been made under the terms of Section 106 planning agreements. These are signed by developers and the local authority to ensure infrastructure is available to support new developments. In addition, Bellway regularly offers support to charities, schools and community groups close to its development and raises money for Cancer Research UK as its corporate charity.
Bellway has a five-star rating with the Home Builders Federation (HBF), which means more than nine out of ten customers said they would recommend the housebuilder to a friend in the HBF’s National New Homes Customer Satisfaction Survey.
More information on the homes currently being built by Bellway in Leicestershire can be found at bellway.co.uk.
Work is set to start on a new housing development in Hampton Magna near Warwick after detailed plans were approved by the local authority.
Bellway has been given the green light by Warwick District Council to build 147 new homes on the 17-acre site off Daly Avenue, on the south-eastern edge of the village.
The development, which will be known as Hampton Trove, will include a range of one, two, three and four-bedroom houses and bungalows, alongside public open space, a children’s play area and allotments. A total of 59 of the houses, along with two of the bungalows, will be provided as affordable housing for local people available through shared ownership or rent.
Elaine Brown, Head of Sales for Bellway South Midlands, said: “Our new development in Hampton Magna will help meet the growing demand for new housing in the Warwick area.
“We’re providing a wide variety of house types from our new artisan range to cater for the needs of local buyers, whether they’re first-time buyers, growing families or downsizers.
“We’re also going to be investing heavily in the local area through the planning agreement for the development, with more than £1 million in financial contributions towards education, health, sports and other facilities nearby.
“This is a sustainable location for new housing, within walking distance of a primary school, medical centre, post office and convenience store. It’s also less than a mile from Warwick Parkway railway station, which has direct trains to Birmingham and London Marylebone.
“We’re already seeing a great deal of interest in this development and I would encourage anyone hoping to find their new home here to visit our website and register to receive the latest updates as they become available.”
Bellway’s financial contributions towards the local area will include £454,370 for Aylesford School in Warwick, £224,000 towards extending the number 16 bus service between Hatton and Kenilworth, £169,174 and £122,674 for indoor sports facilities at local leisure centres, as well as further contributions towards supporting children with special educational needs, bus stops, new highway infrastructure, libraries and outdoor sports.
Bellway South Midlands is building new homes at development across Warwickshire. For more information, visit bellway.co.uk.
Conexus Law, the specialist advisory firm that provides legal and commercial advice to clients who work in sectors where the built environment, technology, engineering and people converge, are tipping ‘turnover rent’ as a potential go-to model for the commercial lettings sector as landlords and tenants continue to experience unprecedented operational challenges. However, where historically turnover structures would see a landlord share in the good times with the tenant, measures undertaken on a global scale have had an unmatched negative effect on the performance of businesses with a necessary physical presence – cafes, bars, restaurants, and retail.
As would-be commercial tenants grapple over whether and on what terms to take on new leases, and existing tenants look for ways to adjust to difficult and unpredictable economic circumstances, Conexus specialists have tipped ‘turnover rent’ (where rent is linked to the turnover of the tenant) for a possible resurgence.
Across the sector parties are seeking to achieve a compromise, and there are no hard and fast rules steering the negotiations. Whilst some sectors have thrived – data, hosting, and connectivity, as well as e-commerce and the tech industry, others have seen their revenue decimated, and through no fault of their own.
Emma Cordiner, from Conexus Law, said: “Changes in consumer habits and routines, financial uncertainty and even fear, will no doubt continue to impact on the ability of commercial tenants to cover the rent following the recent and on-going upheaval, and this is where ‘turnover rent’ may play a part. Traditionally, turnover structures would see a base level of rent paid (usually around 75-80% of the open market value), and a top-up element which would be a percentage of the tenant’s net turnover over a given time period – usually between 5-12%. This would generally have been in tandem with a landlord option to fall back on a full open market rent if turnover fell below a certain threshold, and in some cases, keep-open covenants by the tenant such that turnover could be optimised, but in the current circumstances such measures would clearly defeat the object of assisting tenants.”
However, whilst pinning rental levels to the performance of a tenant’s business during this unique period of economic uncertainty may be one answer, turnover rent provisions in leases can be complex. Moreover, the task of gathering and providing evidence of turnover, as well as the verification or audit of calculations can be burdensome and even costly. These calculations also have the potential to lead to dispute, and any party considering a turnover rent structure, or indeed any change to existing rental or wider letting arrangements, would be advised to take expert advice.
Emma Cordiner added: “The turnover rent approach could prove a useful tool for both prospective and existing commercial tenants, as well as to landlords. If we assume a period of zero turnover, no longer unthinkable, a turnover rent structure with a base rent element would at least provide the landlord with some degree of certainty of continued rental income, and some capacity to continue to satisfy any related debt obligations and covenants. At the same time, the tenant might be cushioned from the very worst of any ongoing or renewed impact on its business. Then, whilst at first glance, a turnover-only structure will look hugely unpalatable to a landlord, faced with the dual prospect of tenants that simply won’t survive if they must pay a rent over and above a level linked to their income, and a potentially tough lettings market, this type of structure might begin to look more feasible.”
As of 1 August, it is up to employers to decide how their staff can work safely, including whether that means working remotely or coming into the office. So how are companies responding to the new guidance?
At the Burrough Court business hub, near Melton Mowbray in rural Leicestershire, the team believes that blending the right mindset with the right materials is key to creating COVID-secure premises for their tenant clients. Their aim throughout lockdown and heading into the new normal has been to empower those using their business units, office space and meeting rooms to feel safe and confident about doing so.
“Despite the lockdown I have continued to use Burrough Court as the place is quiet, spacious and I have always felt safe here. The team have managed the past few months incredibly well, maintaining a sense of calm and normality that has allowed me to crack on and focus on my business, which has been invaluable to me in these challenging times.”
Jim Overend, Managing Director, Gamechanger Consulting Ltd, tenant at Burrough Court
Nestled in 22 acres of peaceful woodland, Burrough Court is a hive of productivity. The family-run business park provides workspace for companies of all shapes and sizes. With the coronavirus pandemic reshaping how we work, the business is taking an active role in showcasing COVID-secure office premises, as demand for rural office hubs ramps up.
“It’s clear that the working world isn’t going back to the way it was anytime soon. That presents both a challenge and an opportunity. Rural office locations like Burrough Court, which is easily accessible by car and has on-site wellness amenities, have a key role to play in providing productivity hubs for forward-thinking companies. As such, we need to be at the forefront of providing COVID-secure premises.”
‘We’re all in it together’ is at the core of Burrough Court’s messaging and approach. The on-site signage is one clear example of that approach. High-quality, professionally produced signs speak volumes about the level of seriousness required but are balanced through the use of friendly language and Burrough Court’s familiar colours and fonts. Essentially, the team has taken the government’s messaging and added some soul and personality to it.
“As a business owner involved first-hand with the installation and delivery of Covid-19 safe equipment across the UK, I’m really pleased to see Burrough Court implement a number of safe and friendly systems. Their approach is non-obtrusive and clear, from the installation of sanitiser stations to friendly signage. They are following government guidelines not just with professionalism but with outstanding aesthetics. This approach has made my staff and I feel very comfortable in the current climate. We feel safe and productive at work.”
Andy Galpin, Director, Motion Retail, tenant at Burrough Court
Physical changes to the site have also been implemented, from the creation of single person zones in bathroom and kitchen areas to the installation of hand sanitiser stations across the site. While individual offices are the responsibility of their tenants, the team has reworked communal areas to encourage social distancing of 1m+, for example by removing the central table and chairs in the internal breakout area known as the Den.
“I was pleasantly surprised and relieved to see a hand sanitiser station at each entrance to the building. It made the decision to return to the office less fraught. The availability of disinfectant wipes in the kitchen is also a great idea and I find myself wiping down surfaces and door handles religiously. I’m happy to see that the on-site coffee shop has reopened for takeaways and that the communal areas have all been redesigned to allow people to sit at a safe distance apart.”
Philip Tatham, Publisher, Monsoon Books, tenant at Burrough Court
Embracing the opportunities that the new normal provides has also seen the Burrough Court team work with one of their clients – a steel fabrication company – to produce the ‘corona hinge.’ Applied to every external door on site, the corona hinge prevents doors from closing fully, meaning that they can be opened hands-free.
“Becoming COVID-secure at Burrough Court has been about combining practical measures with personal touches.
We’ve given each of our tenants’ employees their own branded bottles of sanitiser, for example, as well as providing sanitising sprays and wipes in communal areas such as kitchens.
We’re also providing free ‘Zoom Rooms’ to clients who need additional space for video conferencing, which has become such an important part of enabling continued productivity.”
Burrough Court has also installed new, washable flooring in the on-site Pilates/yoga studio. And while the gym hasn’t reopened yet, clients can use loose weights and other portable equipment in the paddock outside. With woodland trails criss-crossing the site, there’s also plenty of scope for outdoor exercise.
The amount of space available to use means that everything from parking and bicycle storage to outdoor seating allows for social distancing. Being located in the Midlands, Burrough Court is well located for those looking for a rural office hub that can be accessed from all four corners of England with relative ease.
“Our enquiries now are definitely more focused around the benefits of rural office accommodation and ease of access by vehicle or even bike. In fact, we even signed up two new forward-thinking tenants in the middle of the lockdown. It’s up to all of us to help shape the new normal and to ensure that we create working environments that encourage reassurance and wellbeing as well as delivering security in the face of COVID.”
A housebuilder building new homes in Gloucestershire is making financial contributions of over £9 million towards improving facilities and infrastructure across the county.
Five-star builder Bellway Wales currently has eight housing developments under construction in Gloucestershire. Four of these are in the Gloucester area – in Brockworth, Churchdown, Hunts Grove and Highnam – while the other three are in Tutshill, Newent, and Lydney in the Forest of Dean, and in Charfield in South Gloucestershire.
The new homes at two further developments in the Gloucester area, in Brockworth and Hardwicke, have all been completed and sold.
As part of the planning agreements for these ten developments, Bellway has made significant investment in the local area.
In Churchdown, where 465 new homes are being provided at Pirton Fields, more than £6.1 million is being contributed towards local facilities, with nearly £5 million towards education – comprising £2.7 million towards primary education, £1.7 million for additional secondary school facilities at Chosen Hill School and more than £500,000 towards pre-school places.
In Brockworth, Bellway has provided £1.2 million as part of its Cotswold Chase development and a further £42,000 as part of Millbrook Grove, while in Hardwicke, £540,000 has been invested as part of Hardwicke Grange. In Highnam, where all the homes at Lassington Reach have now been sold, £435,000 is going towards community facilities.
Elsewhere across the county, more than £640,000 is being invested in Charfield as part of St James Mews. Bellway’s Manor Chase development has brought investment of £166,000 in Tutshill near Chepstow and Picklenash Grove in Newent has provided contributions totalling £117,000.
Sales Director for Bellway Wales, Billie Oaten, said: “The financial contributions we are making as part of our Gloucestershire developments represent a major investment towards local education, healthcare and road improvements.
“These contributions will benefit families moving to our homes in Gloucestershire, and existing residents who already live in the county.
“We have a longstanding commitment to Gloucestershire and are proud to be delivering much-needed new homes and investment around Gloucester and the county, and we look forward to continuing to help enhance the areas which surround our new homes.”
Bellway has a five-star rating with the Home Builders Federation (HBF), which means more than nine out of ten customers said that they would recommend the housebuilder to a friend in the HBF’s National New Homes Customer Satisfaction Survey.
For more information on the new homes Bellway is building in Gloucestershire, visit bellway.co.uk.
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