Cluttons LLP

Rise in UAE investment by GCC nationals

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976 and with the largest footprint in the region, asserts that the Dubai residential real estate market is now more secure and transparent, enticing investment back to the city. The residential sales market has continued to build on what has been a positive start to 2012. The UAE and especially Dubai is increasingly seen as an oasis of calm within the MENA region with a strong prospect for...

Buyer competition in prime Central London fiercer than ever

Sustained domestic and overseas demand for property in prime Central London has caused a further 25% drop in stock levels at the start of this year, reports property consultants Cluttons. This is resulting in extraordinary levels of competition between buyers for the limited property for sale, while demand remains close to record high levels.

Particular hotspots, such as Chelsea and South Kensington, have seen such strong demand...

Business rates

Peter Chapman, head of rating and compensation, Cluttons, commented on the government’s recent announcement on business rates for 2012/2013:

“The government has now confirmed that the uniform business rate (UBR) is to be increased in-line with the RPI figure of 5.6% for 2012/2013, but has taken into account the concerns of businesses across the UK by allowing companies to defer 3.2 per cent of their annual bill. Although this difference, which represents 60 per cent of...

Cluttons in Oman raises confidence in the delivery of valuation advice

Cluttons in Oman discussed the importance of valuation standards to financial and investment organisations, in light of the current Eurozone crisis and its effect of asset valuations.

Cluttons recognises that the financial insecurity created by the global credit crisis mean that there is a fundamental need to reduce the risk associated with property valuations. Speaking to the Muscat Chapter of the Institute of Chartered Accountants of India on the subject of international...

Equity rich homeowners increase their stake in Central London market

Equity rich homeowners in Central London, who have benefited from strong price growth and low interest rates over the last four years, are moving on up the ladder without the need to sell their existing home. This is worsening the already short supply of property in prime Central London, reports property consultants Cluttons.

Residents of these areas have seen strong growth in the value of their homes over recent years, with a 7.9% increase in prices recorded in Central London...

Cluttons in Oman celebrates its 25 year tenure in the Sultanate

Cluttons Oman, the leading property firm that has enjoyed a presence in the Sultanate since 1986, last night welcomed its clients, VIPs and esteemed dignitaries, including His Excellency the British Ambassador, to a ceremony celebrating Cluttons’ presence and contribution to the Sultanate over the past 25 years.

The ceremony acted as a culmination of the previous year's activities, including a number of CSR initiatives, which focused on Cluttons’ involvement in Oman,...

Correction in Central London rental market brings reprieve to tenants

Tenants in the Central London rental market will welcome the current correction in rental values, reports property consultants Cluttons, following a remarkable period of consistent growth of nearly 9% between Q4 2010 to Q4 2011, reaching a level 10.3% above the market peak in Q1 2008.

Rents fell by 0.4% in Q4, with further falls expected into the spring, as the spike in prices witnessed last year, as a result of a serious...

Mauritius’ leading golf resort announced at the World Travel Awards

Heritage Le Telfair Golf & Spa Resort, hotel partner to neighbouring residential golf estate Villas Valriche which is being marketed by Cluttons Resorts, has been crowned the leading golf resort in Mauritius for the second year running at the World Travel Awards 2011.

The World Travel Awards acknowledges and recognises excellence in the global travel and tourism industry and is regarded as the highest achievement that a travel product can win.

Heritage Golf Club...

Mainly for students

Einar Roberts is a partner in the residential consultancy division of Cluttons LLP and Kerry Glanville is head of property litigation at Pemberton Greenish LLP

The deferment rate is a central component of the enfranchisement price calculation. Einar Roberts and Kerry Glanville explain current guidance on how it should be calculated

To enfranchise, a tenant must pay a sum that represents the...

Telefónica secures office space

Telefónica, represented by Cluttons, completed the acquisition of 50,000 sq ft of office space, with options for additional space, in a new development by The Crown Estate at 20 Air Street, close to Piccadilly Circus.

This is the first office acquisition for Telefónica conducted by the agency team, and linked to Cluttons national estate management remit for Telefónica, and is to be the international HQ of Telefónica Digital, an entirely new division...

Cluttons in Oman offers a comprehensive ‘look ahead’ at the real estate market in 2012

Cluttons, the leading real estate experts that has maintained a steady offering in Oman since 1986, is well positioned to offer a balanced appraisal of the Sultanate’s real estate market. Today the team offer a ‘look ahead’ at 2012, highlighting a number of property trends across the residential, commercial, retail and industrial sectors in Oman, and picking out pockets of growth.

Residential:

Buoyed by high oil prices and a robust...

Cluttons in Dubai predicts a ‘brisk start’ for the UAE real estate market in 2012

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, today offers a snapshot for predicted property trends across the residential and commercial sectors in the UAE in 2012.

Residential:

Having identified general maturing of the marketplace in 2011, Cluttons predicts a brisk start to 2012. There will be a continuation of many of the trends seen in the residential market, with good quality, well-established...

Cost effective consumers still prefer Sharjah over Dubai

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, today announces that the outlook for the real estate sector in Sharjah is encouraging and progressive.

Cluttons also understands that the future of Sharjah’s real estate sector, is to a certain extent, somewhat linked to what happens in the...

Cluttons in Oman reviews 2011 market and notes signs of stability and recovery

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, and is currently celebrating its 25th year of operation in the Sultanate, today offers a review of residential property activity in Oman 2011.

The earlier part of 2011 signaled the start of a more stable and recovering housing market for...

Price Growth Forecasts - London View Winter 2011

Prime Central London property prices rose by 7.9% in 2011, recording a 1.1% increase in Q4 with prices now 2.48% below the market peak of Q3 2007, reports property consultants Cluttons in its London View: Winter 2011. This growth is in line with Cluttons’ end of year forecast of 8%.

Central South West and Central North West London have witnessed the highest growth in the capital recording average price rises of 2.5% and...

Dubai Market Review 2011

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, today offered a review of property activity in Dubai in 2011 as we move into the final weeks of the year. Overall the buzzword for the commercial, hospitality and residential markets has been ‘selective stabilization’, and a general move towards market maturity. A brisk start to business is predicted in January 2012, with the effect that Cluttons has recently engaged 10 new...

Southwark gives Central London a run for its money

Southwark, London’s most sought-after cultural hotspot, is now commanding residential rents to rival prime Central London, reports property consultants Cluttons.

Living on the South Bank, which enjoys world class, iconic views of the Thames taking in Tower Bridge, Canary Wharf and St Paul’s, is a major draw for city professionals who are choosing the flexibility of the rental sector coupled with ease of access to the...

Cluttons cycles across India

Two employees from Cluttons, leading property consultants and chartered surveyors, have helped raise nearly £25,000 after saddling up and taking part in a charity cycle through India for the Kent Multiple Sclerosis (MS) Therapy Centre.

Tony Meire, a partner based at Cluttons’ Maidstone office and Lucy Winzer, a trainee surveyor cycled 450km in sweltering heat across rural Rajasthan from Bundi to the Taj Mahal...

Cluttons comments on Chancellor's Autumn statement:

Peter Chapman, head of rating and compensation at Cluttons, commented on the announcement that small businesses will benefit from business rates relief:

“Of course additional help for small businesses is to be welcomed, however the unfortunate truth is that this is too little, too late. The extended business rates relief will no doubt help some small companies weather the economic storm, but whether it will make any significant impact on the UK’s financial state...

Hidden threats for investors set to rise during 2012

Cluttons, leading international property consultants and chartered surveyors, has today warned of hidden threats to investors in commercial property.

While efforts continue to stimulate the domestic economy, events unfolding outside the UK are still calling the shots on UK property. In the face of global uncertainty, and with senior debt having dried up, the London property market is benefitting from cash injections,...

Cluttons appointed by Telefonica UK for property portfolio

Cluttons, international property consultants and chartered surveyors, has been appointed by leading communications company Telefónica UK, to provide real estate management services across its property portfolio.

Following a competitive tender process Cluttons secured the appointment, becoming Telefónica UK's primary estate management supplier. The contract will see Cluttons provide a range of services including treasury management, property management, rating,...

Cluttons in Bahrain highlights the strength of Salman industrial city

Cluttons, the leading property firm that has enjoyed a presence in Bahrain since 1976, today announces key trends and highlights of the real estate market in Bahrain over Q3 2011. The report notes that there is significant potential in both the manufacturing and logistics market, but that appetite remains soft in the wake of the recent political unrest.

Findings conclude that the manufacturing market has been slightly less affected by the recent political unrest than the logistics...

Cluttons in Bahrain – social housing high on the real estate agenda

Cluttons, the leading property firm that has enjoyed a presence in Bahrain since 1976, today announce key trends and highlights of the real estate market in Bahrain.

Economy

As accredited and leading experts in its industry, Cluttons notes that Bahrain is continuing to show gradual economic recovery and political stability in light of recent events earlier this year. The IMF has projected a GDP growth of 1.5% in 2011 and is more optimistic for next year...

50,000 professional jobs at risk over next decade due to housing shortage:

Cluttons, international property consultants and chartered surveyors, has warned that 50,000 vital jobs won't be created for London's future professional workers over the next ten years, due to severe housing shortages.

Research published today by Cluttons and conducted by Professor Michael Ball estimates that over 200,000 professionals are expected to join the London jobs market over the next decade. This number is the equivalent of all working professionals currently living in...

20th Kent Property Market Report gives reasons for confidence

A positive outlook for Kent is the conclusion of the 20th annual Kent Property Market Report, unveiled in Ashford today (October 19).

Launched at the 26,000 sq ft Northdown 2 at Eureka Business Park, Ashford, the county's most recently spec-built office complex, the Kent Property Market Report, written by Kent County Council and property consultants Cluttons, is produced by investment promotion agency Locate in Kent, supported by law firm Thomson, Snell and Passmore.

It...

Cluttons Resorts has appointed Alex Upson as director

Cluttons Resorts has appointed Alex Upson as director. He was previously at One Property Solution in Dubai, before which he was a partner at Cluttons, responsible for residential sales in the Middle East.

Cluttons Resorts is a bespoke real estate agency specialising in quality residential properties within resorts and new developments around the world. It is currently marketing projects in the Caribbean, Europe, the Indian Ocean and the Far East.

Cluttons Resorts is an...

Q3 Dubai commercial market reports showing increased tenant activity across the market

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, today announces its latest Q3 market report for Dubai's commercial market as we move into the final quarter of 2011. As tenant activity improves, vacancy levels in the Emirate also continue to rise, moving closer to 50% as more new supply is brought to the market. High levels of supply in new commercial areas is providing smaller businesses with a large amount of choice and competitive...

Q3 recovery and improvement for Dubai real estate is just around the corner

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, today announces its Q3 market report for Dubai's residential market 2011.

The early part of the year was characterised by uncertainty and unrest both within the region and overseas, but Cluttons notes that Dubai is now showing signs of optimistic improvement, citing a report from the IMF predicting GDP growth of 3.3% for 2011 growing to 3.8% next year. The Dubai Chamber of...

Cluttons announces 35th year anniversary in Bahrain

Cluttons, the leading property firm that has enjoyed a presence in Bahrain since 1976, is pleased to announce plans to celebrate its 35th year of dedicated real estate services in the Kingdom. This milestone has been affirmed by the promotion of Harry Goodson-Wickes, a rising star within the Middle Eastern team and a dynamic real estate professional, to head of country. The announcement comes at a time when experts in Bahrain are forecasting slow recovery from the events in early...

Investors focus on the strong West End fundamentals in the face of global uncertainty

According to latest figures issued by Cluttons, leading property consultants and chartered surveyors, investors are seeking the security of the West End office market in the face of global financial uncertainty.

Q2 saw investment activity in the West End reach £962 million, 24% ahead of the 10 year average, driven by expectations of future rental growth. Despite an upturn in planning consents for new schemes, the space under construction over the next three years remains...

Oman – demand for ‘community living’ continues to outstrip supply

Residential property types need to shift with tenant demand - developers need to build more community compounds
Families driving demand for complexes because of their secure environment that is ideal for children
Prices in Grade A apartment compounds upwards of R0600 per month

Cluttons, the leading property firm that has enjoyed apresence in the Sultanate since 1986, today reported that there has been a continued growth in...

Historic building at gateway to Brighton comes onto the market

International property consultants and chartered surveyors, Cluttons has been instructed by Brighton & Hove City Council to market the former youth hostel at Patcham Place, London Road, Brighton, East Sussex.

Following its vacation by the Youth Hostel Association, a lengthy evaluation of all alternative options was carried out by the council and the property was subsequently deemed unsuitable for occupation by any of the council's services due to the age, configuration and...

Luxury villa holidays

Cluttons highly recommends Merrion Charles as a very experienced specialist in the field of luxury villa holidays in Tuscany, Umbria, the Lakes and other regions of Italy.

Contact Merrion through her website www.merrioncharles.com

New homes for Tooting as housing giant Bellway purchases £6.6 million site

Two former car showrooms in Tooting are to be redeveloped to residential blocks. Cluttons, international property consultants and chartered surveyors, assisted Bellway Homes, one of UK's largest house builders, in securing the 0.3 and 0.4 acre sites in Garratt Lane.

The scheme will consist of 86 residential units out of which 34 units will meet the requirements of affordable housing. The project is expected to be completed by Christmas 2012.

Sam Graham, partner, Cluttons,...

Soaring rents set to rise a further £15 per week by Christmas

Average rents in prime central London are on track to reach £1,052 per week by December, an increase of £15 on current weekly rents of £1,037, predicts property consultants Cluttons. This translates into an additional £780 a year for tenants that agree to the increase.

By Christmas, tenants in the capital are likely to be paying 30% more than they were at the trough of the market in December 2009, when weekly rents stood at £809.

Tenants are...

London homeowners test market - desperate buyers paying over the odds

Cluttons revises forecast for national house price growth upwards to 3.5% in 2011, with 4% growth in 2012.
London growth also revised upwards to 8.7%, slowing to 6.7% in 2012.
New tenants paying 20 to 25 per cent higher rental payments than previous occupants.
Annual rental growth is at record high of 20.4% in Q2 2011 with London rental value growth forecast at 11.1% easing to 2% in 2012.
Instability in the financial markets and unrest in London present...

Restoration of Italian properties

Cluttons offers a range of ruined farmhouses in delightful locations in Umbria and Tuscany which are ripe for restoration, but can you do it alone?

If you want to design and rebuild your own home based on a ruined farmhouse or mediaeval watch tower in Umbria or Tuscany, you can do it yourself as long as you have nerves of steel, the patience of Job and very deep pockets. You should also be able to make yourself clearly understood in Italian.

If you can't tick all these...

Cluttons imparts industry insight to Omani students

As a result of a rapidly expanding portfolio of managed buildings, Cluttons, the expert in property management, is offering work experience to Omani college students from the International College of Engineering and Management. The college is associated with the University of Central Lancashire in the UK and runs a facility management course; their students were identified as ideal candidates to work with Cluttons.

Cluttons has a reputation for property and facility management of...

Cluttons buys £5.65m London property on behalf of fund management client

Leading property consultants and chartered surveyors, Cluttons, has advised a fund management client on the freehold purchase of a property on Baker Street, London for £5.65 million, reflecting a net initial yield of 4.9%.

The period property stretches over several floors and comprises of four retail units, all of which are fully let and command a passing rent of £292,000 pa. The residential upper parts have been sold off on long lease.

The Baker Street building...

Tenants now face challenge of climbing onto 'rental ladder'

The strict criteria of tenant referencing companies is squeezing some Central London tenants out of the rental market, reports property consultants Cluttons, as they struggle to meet income and deposit requirements to climb onto the 'rental ladder'.

Since the recession began and rental defaults became more common, it is now routine for referencing companies to insist that a prospective tenant earn in the region of 30x their monthly rent, in much the same way as a mortgage...

Strategy is key for Omani real estate planning

158,000 square metres of Grade A office space to be released into the market
Landlords providing office space will need to adopt pro-active leasing strategies in order to secure tenants
Existing restrictions to VOIP services such as Skype are anticipated to be relaxed within the region
Increased understanding of corporate strategy in the telecoms sector is likely to see additional real estate requirements in the form of retail outlets and office...

Sharjah to capitalise from continued investment in leisure and tourism

Sharjah looks set to capitalise from continued investment in its leisure and tourism sectors
Dubai rental market proves to be competitive for Sharjah commuters
Cluttons views high quality and well-designed residential properties are a step in the right direction.
Sharjah malls are dated and retail units have suffered from lack of investment.
Improvements in infrastructure have helped facilitate Sharjah's industrial sector.

Cluttons,...

Existing period of uncertainty for developers coming to an end

Malcolm Chumbley, Head of UK Development, Cluttons, commenting on the delayed Draft National Planning Policy Framework, said:

"Anything that helps draw to a close the existing uncertainty for developers must be welcomed. However, the real test is only just beginning.

"It is clear that the private sector would welcome any increase in the volume of land available for residential development. With such a severe shortage of affordable housing, this is now a...

Number of hotel rooms in Muscat expected to grow by up to 21% pa over next five years

Despite some fluctuations, development in the number of hotels and hotel rooms in Oman has progressed at an average rate of 7% per annum over the last five years

Muscat, Oman - Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, issued its Oman Q2 reports. According to the report, the economic indicators show that the Sultanate is continuing its recovery from the impacts of the...

Dubai Q2 report - commercial and residential markets showing stability

Office market showing signs that it is stabilizing across the board, balancing out at AED 40 per square foot in areas of high supply
Dubai's commercial market has seen a surge in stock, but demand is focused at the top end of the market
Residential areas such as Palm Jumeirah, the Burj District and Dubai Marina have performed robustly
High-end villa rents are performing positively, demonstrating growth of 1.5% - 3% on Q1 2011

Dubai, UAE; 18...

Property should get back to fundamentals says Cluttons as Q2 report is released

Leading property consultants and chartered surveyors, Cluttons, today releases its quarterly commercial property market outlook.

Head of commercial valuation consultancy, John Barrett, has predicted the IPD Quarterly Index for Q2 2011 will show a slip in returns as the yield impact on capital growth slows, and advises investors to go back to basics and refocus on locations with rental growth potential.

Central London has led the way and has delivered successfully and...

Lake Como

Lake Como, or the Lago di Como in Italian, is the third largest lake in Italy after Lake Garda to the east and Lake Maggiore to the west.

It is also one of Europe’s deepest lakes at over 400 metres, and even the bottom of the lake is 200 metres below sea level. The lake is shaped like an inverted Y and the town of Como lies at the end of the western leg, and Lecco, famous for the superb chocolate made there by the family run firm ICAM

Vacancy rates – how low can they go?

According to latest figures issued by Cluttons, leading property consultants and chartered surveyors, the steady decline of vacancy rates, coupled with plans to decommission office space for conversion into residential use, will see occupiers in London's West End continue to struggle to secure space.

As the government consults on proposals to allow commercial property to be converted into residential use without the need for further planning consent, Cluttons revealed that...

No summer slowdown expected in Central London

The Central London housing market is set to maintain current high activity levels throughout the summer, rather than follow the traditional pattern of a quiet July and August, predicts Cluttons.

The property consultancy released its 'London View: Summer 2011' today, in which it reports that strong demand has driven average central London house values over £1.6 million for the first time since Q3 2008. Buyer demand remains close to record highs, while stock levels are...

City of London planners go up against Government

Cluttons, the international property consultants and chartered surveyors, today commented on the latest news that City of London Planning Officer, Peter Rees will meet Secretary of State for Communities and Local Government, Rt Hon Eric Pickles MP, in opposition to government proposals to allow commercial property to be converted into residential without the need for further planning consent.

Diane Rider, Partner, Planning and regeneration at Cluttons, said:

"It is...

Cluttons predicts a Sharjah “renaissance” by year end 2011

Cluttons, the leading real estate firm that has enjoyed a presence in the Middle East since 1976, today points to a renaissance in Sharjah. The driving factor behind such rejuvenation is the Sharjah government, as it actively seeks to enhance the quality of life in the Emirate for both residents and visitors. Evidence of this trend includes the regeneration of the Al Majaz Waterfront, twinned with the Sharjah Mall Development, the Sahara Mall extension and the emergence of several well...

Central London tenants brace themselves for 8-10% rent rises this year

Rents in Central London are on track to increase by between 8 and 10% this year, putting even greater pressure on the finances of tenants in the capital, reports property consultants Cluttons in its Residential Property Forecasts - June 2011.

The significant pressure on households, who are facing depleting incomes and job insecurity, means that it is unlikely that demand for rental property will be dampened. Tenants have already adjusted to record rent increases of 19.1% in 2010 and...

Rise in relocation activity indicates renewed confidence in the capital

Cluttons has seen a 20% increase in enquiries from relocation agents over the past two months, indicating increased confidence in the capital among the international business community.

Budgets are also increasing to levels not witnessed for several years. Up to the first quarter of this year, the majority of relocation agent activity was on behalf of junior or entry-level employees, and while that sector of the market remains strong, there has been a significant increase in...

A Rare And Delicious Italian Cheese

Cluttons were introduced to this rare and delicious cheese by the owner of Castello Marcosanti, a magnificent boutique hotel and restaurant in the Appenine hills near Rimini. Bruno’s passion for the good food and gastronomic traditions of Romagna has led him to give new life to an ancient local tradition, that of making “Formaggio nella Roccia” literally translated as “Cheese in the Rock”. The secret of this cheese made from ewe’s milk is that it is matured for eight months in total,...

Buyers race to secure Central London homes

Strong competition between domestic and overseas buyers, along with a prevailing stock shortage, is creating ideal market conditions for sellers in Central London, reports property consultants Cluttons. Prices are exceeding the mid-2007 peak by up to 20% in some cases, as buyers compete for the best properties.

Despite the quiet Easter and royal wedding bank holiday weekends, demand levels across the capital rose by almost 50% during March and April when compared to the same period...

Historic church in Wanstead, E11 goes up for sale

Cluttons, leading property consultants and chartered surveyors, has been tasked with the job of selling Cambridge Park Methodist Church in Wanstead.

The site itself covers 0.2 hectares with two existing buildings. The church building was originally built in 1875 and is on one level, with a high-pitched roof. The second building is separated by a small central yard area and sits to the rear of the main building. It comprises two church halls, a kitchen, and lobby area.

The...

Cluttons moves into Flexible Office Space

Leading property consultants Cluttons has launched Flexible Office Space, a new company providing flexible managed commercial space solutions for funds, property companies and corporate occupiers across the UK.

Flexible Office Space will maximise income streams for clients who have empty or poorly-managed portfolios, where conventional leasing has not delivered a solution. The bespoke managed or serviced space...

British benefit from a buyers’ market in Cape Town

It is a classic buyers' market in Cape Town with properties taking 19 weeks on average to sell and then with only 15 % of vendors achieving their asking price. This is good news for foreign buyers who account for almost 7% of total sales, by far the highest proportion of sales in any South African city, with the British a prominent force.

In the first quarter of 2011, Cluttons South Africa reports a lengthening in the average time homes spent on the market before selling, from 15...

Cluttons calls on the Government to review affordable housing’s “noose on development”

Cluttons, the international property consultants and chartered surveyors, has today called on the government to consider reviewing the new affordable housing regime.

Far from providing further social housing, Cluttons believes both private and public residential development is now nearly impossible under the new funding regime which has reduced the viability of many developments across the UK.

Where large numbers of social housing units are required as part of the planning...

Cluttons’ industrial and logistics service launches new corporate services team

Cluttons, a leading property brand and Middle Eastern specialist since 1976, announces the launch of a new corporate services team within its light industrial and logistics division. The remit of the new offering is to provide an adequate consultancy solution for the corporate operator in the GCC.

With the largest footprint of any real estate company in the Gulf, Cluttons offers a reliable and fully accredited business that can undertake many of the functions of an in-house property...

Completion and occupation of “super sheds” look to improve quality of UAE’s logistics market

After years of speculative development that forced international logistics companies to lease inferior quality and light industrial buildings, the report stated that Q1 2011 has been marked by the completion and occupation of a number of "super sheds" that would appeal to many institutional investors.

The recent completion of the 650,000 sq ft shed for the leading CEVA Logistics in JAFZA's south zone for example, is the first development delivered in the region by...

Dubai to regain position as global hub as market shows signs of maturity

Cluttons, the real estate specialist that has enjoyed a dedicated presence in the Middle East since 1976 today issues its market report for Dubai's commercial sector for the first quarter of 2011.

The office market has shown healthy increase in occupier demand during the first three months. This seems to have been fuelled by a number of factors, namely the increased affordability of office rents, the choice and variety of stock on the market and the slow return of...

Oman real estate market to rebound slowly but surely

Cluttons, the real estate specialist that has enjoyed a dedicated presence in the Middle East since 1976, today issues its Oman market reports for Q1 2011 covering the residential and retail sectors within the Sultanate.

According to the report that was compiled by a team of highly qualified property experts, the market is still affected by international uncertainty and market volatility although there have been some positive signs over the past year. However, growth prospects...

Budget conscious tenants dominate London lettings

Restrictions on mortgage finance and low consumer confidence is driving fierce competition for lower cost rentals across London and resulting in a severe shortage of homes to let in the region of £250 - £400 per week, Cluttons reveals in its Residential Property Forecasts April 2011.

While around 40% of tenants are seeking property at this price level, only 15% of the available stock is priced under £400 per week. This is placing considerable upward pressure on...

Dubai’s residential sales market stabilises Q1 2011

Cluttons, the real estate specialist that has enjoyed a dedicated presence in the Middle East since 1976 today issues its market report for Dubai's residential sector in Q1 2011.

According to the report, residential sale transactions in Dubai saw a natural increase in January and February. This was aided by the fact that Dubai is witnessing some positive activities; resurgence of available finance for property investments, as mortgage lenders such as Barclays, Standard Chartered...

Good, genuine and natural

Cluttons in Italy (after careful sampling) is happy to commend Enzo Tiberio's excellent Tuscan wines to our readers.

Az. Agricola TIBERIO di Nocentini Enzo 52028 Terranova Bracciolini (AR) Tuscany

The name of Enzo Nocentini’s great-great grandfather was TIBERIO, and that is the name Enzo has given to his vineyard on the Tuscan hills between Florence and Arezzo. As the head of the fifth generation of the Nocentini family, vintners since 1831, he personally cultivates...

Abu Dhabi market to end two year stalemate during Q2 2011

Cluttons, the real estate specialist that has enjoyed a dedicated presence in the Middle East since 1976 today issues its Abu Dhabi market reports for Q1 2011 covering the residential, commercial, retail and industrial sectors within the Emirate. This report is issued at a time when Cluttons has launched an Abu Dhabi property price Index, to provide international investors with a trusted and easy tool and to help foster knowledge and transparency in the marketplace....

No April fool as London businesses are hit by rates hikes

London businesses will be hit by massive hikes in their business rates this week, according to property consultants Cluttons.

As bills start to arrive with up to 23 per cent increases for some central London office occupiers, already under-pressure London firms will struggle yet further.

Following the Government's five-yearly revaluation of commercial property in 2010, business rates liabilities are set to soar in the Capital.

Peter Chapman, head of rating and...

Umbria flies high

Tuscan oil is often assumed to be the best in Italy, but in neighbouring Umbria it's taken very seriously too. In fact, land-locked Umbria is the only region of Italy to have its entire production of extra virgin olive oil classified as DOP (Denominazione di Origine Protetta or Protected Designation of Origin) by the European Union.

A tasting tour of the countryside is not just likely to reveal some delicious varieties, it's guaranteed to. The Umbrians have gone one step...

Planning: no longer a walk in the park for the South Downs

Following the creation of the South Downs National Park last year, changes to the planning regulations covering the Park are due to come into force on Friday 1 April.

The park, which extends almost 100 miles, from Winchester in the west to Eastbourne in the east, and covers some 15 local authorities, was established in 2010 to conserve the natural beauty and wildlife of the area.

From Friday, the newly created South Downs National Park Authority will be responsible for all...

Cluttons advises DTZ Investment Management on £19m Southwark, SE1 purchase

Leading property consultants and chartered surveyors Cluttons has advised DTZ Investment Management for one of its in-house managed funds, on the purchase of Bankside Central, Southwark Bridge Road, London SE1 for £18,750,000 reflecting a net initial yield of 7.61%.

Let in its entirety to FBC (Futurebrand) Ltd with a guarantee from Interpublic Group Inc to December 2016, the property was the subject of an award-winning, design driven refurbishment and redevelopment in 2001 to...

Fishmongers’ Company agrees lease restructuring

Fishmongers’ Company agrees lease restructuring with Derwent London plc at Morelands Building, EC1.

The Fishmongers' Company, one of the Twelve Great Livery Companies of the City of London, and Derwent London have completed a restructuring of the headlease at Morelands Building, an 80,000 sq ft office and retail complex on Old Street, London, EC1.

Derwent London has surrendered its current 45 year interest and taken a new lease of 125 years. Derwent London will pay...

West End occupiers face uphill battle for space and rising rents

According to the latest figures published today by Cluttons, the leading property consultants, a shortage of good quality office space in London's West End is taking its toll on activity levels, leaving occupiers facing a an uphill battle to secure space and the prospect of higher rents.

The vacancy rate over the quarter fell from 5.9% to 5.4%, the lowest level since January 2009. However, in certain submarkets - for example, Soho - the stock shortage brought around a vacancy...

Decision highlights need for developers to ensure LPAs follow equality legislation correctly

Court of Appeal decision highlights need for developers to ensure LPAs follow equality legislation correctly

Key points:

Equality Impact Assessment should be undertaken for any proposals with the potential to impact on minority groups.
Failure to assess the impact of a development in determining a planning application could be grounds for a legal challenge.
While the potential impacts of a legal challenge on this issue are serious, the...

Families plump for Pimlico

Pimlico is fast becoming a haven for London buyers seeking centrally located homes for often half the price of those a few minutes away in Belgravia, reports property consultants Cluttons.

With investors and international buyers competing fiercely for the limited property for sale in prime Central London, the increasingly family orientated market in Pimlico is attracting buyers seeking more affordable family homes in the capital with a long term view. They are relaxed about buying as...

Superior parking facilities play key role in maximising occupancy levels

Cluttons Oman, the leading property firm that has enjoyed a presence in the Sultanate since 1986, today highlights the impact of car parking facilities on occupancy levels in commercial developments in Muscat. Ample, secure and well-managed parking is one factor that sets Grade A development ahead of the competition and ensures that supply meets market demand.

According to the Cluttons team, a new generation of commercial buildings across the city do not address this significant...

Central London buyers must move fast to secure prime property

Extremely low levels of property for sale are likely to remain a feature of the Central London market for the foreseeable future, and buyers need to adjust to viewing fewer properties before making an offer, says property consultants Cluttons.

Cluttons' data shows that current stock levels are 60% lower than the same period a year ago and 93% down on the same period in 2008. Where in the past the average buyer could reasonably expect to view upwards of ten properties before...

The thin wedge of opportunity

Cluttons Q1 commercial property market outlook (CPMO) research, highlights the challenges facing potential investors during 2011.

Cluttons believes that while inward yield movements have driven returns over the last year, the scope for further capital growth from a hardening of yields is limited. This factor, combined with limited prospect for rental growth beyond the prime Central London office and retail sectors, will lead to a dampening of returns. Furthermore subdued economic...

London residential rents will grow ahead of incomes this year

Residential rents in Central London will grow by 3.0 per cent this year, slightly ahead of the expected increase in average incomes, according to the latest forecasts from property consultants Cluttons and supported by RICS' January 2011 UK Housing Market survey.

Andrew Stanford, Head of Residential consultancy division at Cluttons, comments: "This year's growth will have a positive impact on yields during a year when capital value growth will be at 2.5 per cent,...

Cluttons forecasts strong growth in Central London

Prime London property prices will continue to see positive growth during 2011 and over the next five years, predicts property consultants Cluttons, which released its five year residential forecasts today.

The current critical shortage of property and continued strong demand are expected to drive prices in central London up by 2.5% over the coming year, which is broadly in line with growth in 2010. These factors, combined with anticipated improved economic conditions, are expected to...

Cluttons launches Abu Dhabi Property Index

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, today announces the launch of its Abu Dhabi Property Index, which helps benchmark property values in the Emirate. The introduction marks the successful evolution of the Dubai Property Index, launched in October 2010 and Cluttons' strong strategic presence in the GCC region.

The Index offers comprehensive price data for both villas and apartment sales over the past year. Such...

Craftsman-built homes launch in Whitstable

Invicta Fields, an elegant collection of just ten craftsman-built detached houses has launched in fashionable Whitstable, for sale through property consultants Cluttons.

The development, by prominent local developer Murston, is surrounded by trees in a quiet location off a private road, just minutes away from Whitstable station which connects with London in 90 minutes. There are seven 4-bedroom houses and three three bedroom houses, aptly named after sailing craft, which have been...

Cluttons bolsters team with new finance director

Leading property consultants Cluttons has recruited a new finance director to its growing team.

Richard Dunkley has joined Cluttons after spending eight years as NB Real Estate's group finance director. Dunkley, who trained at Pricewaterhouse Coopers, has a wealth of financial experience in the services sector in both public and private companies.

Commenting on the appointment, Cluttons' senior partner Bill Siegle said: "We are delighted to have secured the...

Cluttons secures resolutions to grant outline planning permission for sites in Sutton

Property consultants Cluttons' planning and regeneration team has secured resolutions to grant outline planning permission for residential redevelopment of three sites currently owned by the London Borough of Sutton. The sites are surplus to the borough's operational requirements and are now to be sold to developers.

Following its replacement with a new facility, the former Hallmead Day Centre in Anton Crescent recently opened on adjoining land and is to be redeveloped with...

Property investment market

Cluttons' Head of research Sue Foxley offered her views on the property investment market on Wednesday 26 January when she took part in an online masterclass on the outlook for 2011, hosted by Asset TV.

Alongside Richard Urwin, Head of Investment at BlackRock and Dawn Kendall, Head of Investment Strategy and Product Development at Architas Multi-Manager, the discussion saw the panellists give their thoughts on hot topics of the moment including predictions for the global economy...

London tenants sacrifice spare room as rents climb

Rising rents are forcing many London tenants to search for smaller properties, creating fierce competition for one-bedroom flats, reports property consultants Cluttons.

Where traditionally the majority of city workers have opted for a two-bedroom property, giving them a spare bedroom or a study, Cluttons has seen a sharp rise in demand for one-bedroom apartments as tenants try to keep rental costs down. The usual cycle of workers upsizing to a larger property after a year or so has...

Buyers anxious to secure properties before bonus money arrives

Homebuyers in Central London are moving quickly to find and secure properties before bonus buyers hit the market and competition for the best quality property heightens, reports property consultants Cluttons.

There has been a flurry of activity during the first two weeks of January, as buyers who started to look at the end of last year return to the market, keen to secure a home before cash-rich bankers are in a position to proceed with purchases. Values of quality property in prime...

Barbados is back!

Last year, Cluttons said that the buzz was returning to Barbados and that property sales and rental activity was picking up. This year they can confirm that Barbados is clearly back on track.

Cluttons Barbados has had a successful year with an increase of approximately 70% in sales completed versus 2009. As Barbados enters its winter peak buying months, it is obvious that buyers are now returning to the Barbados property market. Villas, hotels and flights are booked up and it is...

Cluttons in Maidstone welcomes in New Year and toasts successful end to 2010

A mixed road lies ahead for retail and office markets in Kent in 2011. That was the message that emerged as James Stefanopoulos, associate in the commercial agency department of property consultants Cluttons' regional office located on Albion Place, Maidstone, bade farewell to a busy 2010 and welcomed in the New Year.

James Stefanopoulos commented: "2010 was a good year for the industrial and retail markets in Kent with prime retail and modern industrial premises still receiving...

Better times ahead for Dubai’s real estate market

Cluttons, the real estate specialist that has enjoyed a dedicated presence in the Middle East since 1976 today issues its Dubai market reports for Q4 2010 covering the residential, commercial and industrial sectors within the Emirate.

The report highlights that investors' confidence is restored again in the real estate market in Dubai within specific locations and developments, with the re-emergence of key lenders including Tamweel, one of Dubai's largest Islamic mortgage lenders,...

Spell of increased activity in Abu Dhabi is expected in the spring of 2011

Cluttons, the real estate specialist that has enjoyed a dedicated presence in the Middle East since 1976 today issues its Abu Dhabi market reports for Q4 2010 covering the residential, commercial and industrial sectors within the Emirate.

According to the report, and against all positive predictions, Abu Dhabi continued to experience a downward pressure on commercial and residential rental prices throughout the summer months. This is in contrast to the sales market,...

Cluttons in Brighton welcomes in New Year and toasts successful end to 2010

A mixed road lies ahead for the retail and office markets in Brighton in 2011. That was the message that emerged as Bill Shipley, head of property consultants Cluttons' regional office in Brighton, bade farewell to a busy 2010 and welcomed in the New Year.

"2010 was a varied year for the office and retail markets and the outlook for 2011 is similar," Bill commented.

"Prime supply remains low with few opportunities to satisfy the retailers' long list of multiple...

Berlusconi and democracy

Quotes from an article in The Economist 18 December 2010.

"Italy's prime minister scrapes through a parliamentary confidence vote. But there may still be an early election."

"One thing is clear: December 14th was not a great day for Italy's parliamentary democracy.....His (Berlusconi's) supporters barely troubled to deny the wide-spread allegations of vote buying. A representative of a small regional party that had once belonged to the ruling majority likened the atmosphere...

The Royal Parks appoints Cluttons to let and manage The Royal Parks’ lodges

Cluttons' residential agency and portfolio lettings management teams have been awarded a prestigious three year contract by The Royal Parks to let and manage the lodges within the Royal Parks. The Royal Parks is an executive agency of the Department of Culture, Media and Sport and is responsible for the management of London's eight Royal Parks.

The lodges are held within The Royal Parks ‘Better Buildings' portfolio, which aims to generate revenue for the parks by...

West End office rents will grow by more than 8% over the next four years, say Cluttons

Leading chartered surveyors and property consultants Cluttons today releases its December 2010 West End Offices Update.

Head of Commercial division, John Wood comments, "Given the diminutive supply backdrop, the upturn in occupier demand for space is translating into strong rental growth in most West End sub-markets. Investors are demonstrating their confidence in the market, and are focussing on assets with development potential."

"Whilst occupier demand...

Cluttons - successful property management is the key to 100% occupancy levels in the UAE

Now is the time to invest in professional management of property
A short term view will lead to falling standards and loss of income
Successfully managed Cluttons properties showing 100% occupancy levels
It is cheaper to maintain a building well than make repairs in the future

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976 and with the largest footprint in the region, urges property owners to...

Books about Italy

Most people from Britain, the U.S.A or northern Europe who choose to buy a first or second home in Italy do so because they are attracted not just by a generally more clement climate, by the excellent food and wines but also by the wealth of artistic and cultural history in which the whole country abounds.

There are many books available on all these topics as well as on the experience of expatriates who have settled in Italy and have been sufficiently entertained by the people they...

Cluttons Resorts launches Six Senses Laamu Residences, Maldives

Madivian president, Mohamed Nasheed, has said investors and foreign nationals can now buy properties, many on 50 year renewable leases. The first to offer private residences is Six Senses Laamu, towards the southern tip of the Maldivian archipelago which is being marketed by Cluttons Resorts.

Six Senses Laamu Residences is located on the privately owned Olhuveli Island in the Laamu Atoll towards the south of the Maldives archipelago. From Male International Airport, it takes...

Landlords cherry pick tenants as competition in rental market grows fierce

The acute shortage of rental property in the Capital is driving landlords to cherry pick tenants and in some cases ask for larger deposits, reports property consultants Cluttons.

With the number of applicants competing for each property on the increase, many landlords find themselves in a position where they can select the tenant with the most secure employment prospects or those who are likely to cause the least wear and tear to the property.

Lynn Hilton, partner for...

Competitive pricing key to securing a best price sale

The secret to selling in the current market is to focus on creating footfall in a property by pricing correctly from the start, advises property consultant Cluttons.

With the current shortage of stock, some agents will often overvalue a property just to win the instruction. However, as buyers are better informed than ever before, this approach is unlikely to lead to the best final sale price. Cluttons has instead been pricing properties to sell, and in most cases this has...

yoo berlin launches in city centre

yoo berlin, the much anticipated city centre project, has been launched this month by Cluttons Resorts in a prime location in Berlin Mitte, on the River Spree between the famous Berliner Ensemble theatre and the Friedrichstrasse. A development by Zurich based developer Peach Property Group, yoo berlin will offer 'yoo inspired by Starck interiors' by world leading design company yoo and architecture by Eike Becker Architects, Berlin.

With ‘yoo inspired by Starck interiors',...

High quality stock driver of price growth in the capital

Good quality properties in desirable buildings or streets are driving strong price growth in prime Central London reports property consultants Cluttons.

These sought-after properties are achieving in excess of the asking price, with a number of instances where properties have gone to sealed bids to cope with buyer activity over the past few months.

High demand from city workers looking to spend their bonus cash, overseas buyers and those who have been waiting for the right...

Stormy times ahead for housing market, says Cluttons, but London offers protection

Leading international property consultancy and chartered surveying firm Cluttons, has this week released its forecasts for the residential market for the next two years. The forecasts cover UK and Central London house prices and the rents in Central London.

Its findings on UK residential sales reveal that:

London will outperform the UK because of higher value business activity and the potential to take up activity cut by the public sector. The financial services sector is...

Kent Property Market Report reveals confidence in county

The 19th Kent Property Market Report, launched on 21 October at Princes Park, Dartford, reveals that in spite of a challenging year for the commercial property industry, demand for industrial space in Kent and Medway is up by more than 50%, several large deals have been secured and the county's investment promotion agency reports a 14% increase in new projects with property requirements.

The annual Kent Property Market Report is written by Kent County Council and leading...

London’s star shines brightest despite fears of Government cuts

Leading chartered surveyors and property consultants Cluttons released its quarterly commercial property market outlook.

Head of Commercial valuation consultancy, John Barrett pinpoints long term trends in the commercial property market and finds that, despite worries about Government cuts, Central London's retail and office sectors are in remarkably good shape. However, after four quarters of capital growth, he predicts that the IPD Quarterly Index for Q3 2010 is likely to show...

Cluttons comments on Spending Review

The Government has announced its intention to fund the development of 150,000 new homes between now and 2014/5. However, based on an annual average of 30,000 per year this only represents a small (5,000) increase on the 25,550 built in 2008/9, the latest figure reported by the HCA.

It is therefore apparent that there will continue to be a strong reliance on the private sector for the delivery of new homes, to meet the projected need of 240,000 new homes per annum to keep up with...

Cluttons advises Invista on purchase of Bank Chambers, London

Cluttons advised Invista Real Estate Investment Management ("Invista") on a deal to purchase Bank Chambers on Borough High Street, London, from a private Irish investor for £5.75m, reflecting a net initial yield of 6.52%.

Speaking about the sale, Jack Stacey, Assistant Fund Manager at Invista said: "The purchase of this well-located building, with its good access to the City and London Bridge station, is a strong investment for Invista, where our proven asset...

Cluttons announces two high profile appointments

Cluttons is delighted to announce two high profile additions to its team; Darren McGill and Sue Foxley. Darren McGill joins as a partner of both Cluttons Capital Partners and Cluttons' commercial division advising on private client fund management. Sue Foxley joins as head of research.

Commenting on these significant appointments, senior partner Bill Siegle said: "We are delighted to welcome two high profile professionals to our successful teams. The addition of a...

Central London house prices fall for the first time in 18 months

Central London house prices fall for the first time in 18 months, says Cluttons, while the residential rental market has been buoyant and strong demand has led to rents rising by 4.3% this quarter

Leading international property consultancy and chartered surveying firm Cluttons, has this week released its quarterly London View, reviewing the Central London residential sales and rental markets.

Its findings on the residential sales market reveal that:

prices in Central...

Cluttons launches Middle Eastern Property Index at Cityscape Dubai 2010

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, today announced the launch of its Middle Eastern Property Index, which helps benchmark property values in Dubai. The introduction coincides with the first day of Cityscape Dubai 2010, the largest and most influential real estate investment and development event in the region, where Cluttons will take a significant presence.

The Index offers comprehensive price data for both villas...

UAE real estate showing growth prospects in medium to long term

Cluttons, the real estate specialist that has enjoyed a dedicated presence in the Middle East since 1976 today issues its UAE market reports for Q3 2010. The findings of the report support the belief that the UAE is still affected by international fiscal uncertainty and market volatility. However, growth prospects remain strong in the medium to long term, and the UAE remains a powerhouse as the logistical hub for the region, with enviable oil and gas resources. As Dubai looks to...

Warning to tenants as London lettings market sprints ahead

Tenants are losing out on prime property by failing to move in time with the fast-paced London rental market, according to property consultants Cluttons. Record demand and restricted supply have meant that the average time on the market for a typical rental property is down to five days, compared to 20 days in August. The firm warns that applicants need to be prepared to pay a holding deposit immediately after a viewing to be sure of securing a property.

The competition for property...

Cluttons ally with Vigor Renewables in dynamic renewable energy venture

Cluttons' Commercial division has been selected by Vigor Renewables to acquire a significant number of sites as part of its rapid growth to become the UK's leading developer of renewable power generation sites.

Vigor Renewables is a specialist developer of wind and solar PV installations and through partnership enables site owners to benefit from renewable energy, both from a power and commercial perspective, with no capital outlay.

The company launched in 2009 to...

Villas Valriche ranked among the world's best golf resorts

The luxury Mauritian golf and beach resort Villas Valriche, marketed in the UK by Cluttons Resorts, is ranked among the World's Top 20 Golf Resorts in a special report produced for Primelocation.com, the UK's leading property portal.

The report names the best golf resorts in the world for location, judged on the quality and variation of the golf combined with the quality of the residential offering.

"This is a genuine list based on my golfing experiences,"...

UK house price growth exceeds expectations over the first half of 2010

UK house price growth exceeds expectations over the first half of 2010, but a period of stability now expected.

Leading international property consultancy and chartered surveying firm, Cluttons, has this week released its August 2010 Residential Property Forecast.

UK House price growth in 2010 has so far exceeded expectations, with the annual rate of growth now standing at around 10%. Andrew Stanford, head of Cluttons' Residential professional division, comments "We...

Cluttons appoints new head of Maidstone commercial agency

Property consultant Cluttons is delighted to announce that James Stefanopoulos has been appointed as an associate to head up the commercial agency department in Maidstone.

Prior to joining Cluttons, James worked at Hindwoods Hunter Payne as an associate for five years. He has more than 12 years experience advising clients on commercial property in the region.

The Commercial division at Cluttons offers property consultancy services throughout the UK and Middle East. In...

Cluttons expands residential agency with new Islington office

Cluttons is set to extend its area of operations with the launch of a new office in Islington on 2 August. The move indicates the renewed level of optimism in the property market and Cluttons' commitment to building on its ongoing success in Central London.

Cluttons has a long established relationship with Islington from a residential professional, commercial retail and a land and development perspective, but this is the first venture into this part of the capital for the...

Cluttons Resorts offers a rare development opportunity in Tuscany, Italy

Planning restrictions can be fierce in rural Tuscany, famous for its rolling countryside, renaissance art and breathtaking architecture. Cluttons Resorts is therefore delighted to be marketing this 32 hectare site, just 15km's southeast of the medieval city of Siena, which has been granted full planning permission.

The estate of San Martino in...

The future is bright despite short-term uncertainties

Cluttons has released its quarterly commercial property market outlook research, in which head of valuation and investment consulting, John Barrett pinpoints long term trends in the commercial property market as well as identifying more immediate hazards.

Long term reasons to be optimistic ...

"Going forward, if confidence returns to investors, we expect the property sector to attract its fair share of capital, given its generous yield profile, and...

Who'll have grand designs on an old timber barn on the Hoo Peninsular?

An unusual opportunity has arisen to buy and restore a detached timber barn in "Great Expectations" country. The Maidstone office of leading property consultants and chartered surveyors Cluttons has been instructed to sell The Barn at West Street Farm near Cliffe, on Kent's Hoo peninsula, with a guide price of £145,000.

Located about three miles from Rochester and 30 miles from Central London, this timber barn probably dates from the early Victorian period and...

Cluttons re-appointed fund manager for All Soul's College, Oxford

Following a competitive re-tender, property consultant Cluttons is delighted to announce that it has retained its mandate to act as fund manager for All Souls College, Oxford's urban investment portfolio.

The portfolio forms a core part of the college's endowment fund and contains diverse interests spanning direct commercial investments, indirect investments in third party funds, and substantial residential and commercial ground rents. Under Clutton's management, the All...

Cluttons announces exciting joint venture with VPC in Far East

Leading international property consultancy and chartered surveyors, Cluttons has today (8th July 2010) agreed terms for a strategic alliance and business venture with VPC Asia Pacific, to undertake commercial property consultancy operations across the region.

With 40 offices in major Asian countries - Malaysia, China, Thailand, India, Singapore, Taiwan, Japan and Indonesia - VPC Asia Pacific in association with Cluttons will offer a wide range of real estate services, drawing on the...

Cluttons issues Middle East regional property market reports second quarter 2010

Governments look to major infrastructure projects as route to economic growth

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976 today issues property market updates covering Abu Dhabi, Bahrain, Dubai, Oman and Saudi Arabia. This move comes as the firm increases their regional presence and strength. The reports offer independent insights into the regional real estate markets. They focus on the current economic situation and the...

Dubai property market presents buyers with the upper hand

Middle Eastern property experts Cluttons report price drops are creating positive signs of growth in all sectors

Cluttons, the real estate specialist that has enjoyed a dedicated presence in the Middle East since 1976 today issues its market report for Q2 2010. The findings of the report support the belief that Dubai currently represents a buyer's market, offering softer prices that allow potential property purchasers a strong negotiating position across all sectors. This...

US bankers’ return boosts rental prospects for London landlords

US bank employees are among the rise in corporate tenants making a timely return to the market, according to property consultant Cluttons, offering a boost to landlords following George Osborne's emergency Budget.

Several locations across prime Central London, including Kensington, Chelsea, Holland Park and Wapping, have seen an increase in tenants relocating for business, largely from America and Europe. Traditionally, a high percentage of residential property in these parts of...

Cluttons appoints new Bahraini professionals

Cluttons, a leading real-estate consultancy in Bahrain that commenced operations in the Middle East in 1976, has today announced the appointment of Ammr Donia and Bassam Kameshki, within their Middle East valuation and strategic consultancy teams. Such additions to the team are seen as part of the firm's continued efforts to achieve their strategic objectives and future vision.

Tim Glover, Chief Executive Officer of Cluttons, comments: "On behalf of Cluttons I wish to...

James Hyman, partner for residential sales, comments on the Budget

"The fact that the expected hike in capital gains tax comes into force from midnight tonight means that there is no opportunity for investors and second homeowners to avoid the tax increase, thus underpinning prices.

"Had there been any form of cooling-off period, we could have seen a flurry of activity as this part of the market rushed to sell, leading to a surplus of stock. The immediate application of the tax has prevented it going from a seller's market to a buyer's market...

Empty nesters flock back to London

Parents who swapped the capital for the Home Counties a generation ago in order to raise their children are heading back to Central London, reports property consultants Cluttons.

Now, with children having left home for good and prices in some areas of London at a more affordable level than they have been for several years, Cluttons has seen an upturn in middle-age-to-retiree homebuyers looking to return to the buzz of a London lifestyle.

The capital has...

Cluttons signs Memorandum of Understanding for KSA office

Cityscape Jeddah, KSA - A leading international property consultancy and chartered surveyors, Cluttons, has today signed a memorandum of understanding (MOU) with Saudi International Development Company (SIDC), a subsidiary of Al Bundakji Holdings, to jointly undertake commercial property consultancy operations in the growing real estate market in the Kingdom of Saudi Arabia.

The joint venture will operate under the brand name of Cluttons and will offer a wide range of real estate...

Cluttons appoints new senior planner

Cluttons is delighted to announce the appointment of Tom Smith as a senior planner in the Land and development division.

Tom joins the planning and regeneration team with over 9 years experience of development planning and specialises in all forms of planning applications and appeals in London and the South East. He has an excellent track record of guiding development through the planning system to achieve the best commercial result, while cultivating strong working relationships...

Commercial division wins National Air Traffic rating agency role

Following a competitive tender, property consultant Cluttons has been appointed rating agent for NATS, the UK's leading air traffic service provider.

Cluttons' experienced rating team will provide advice relating to NNDR issues across NATS' highly diverse property and asset portfolio, which comprises close to 120 communications towers as well as a number of offices, warehouses and training facilities across the UK.

John Wood, head of Cluttons' Commercial...

Shard Points Middle Eastern buyers South of the River

Middle Eastern and other foreign buyers are now setting their sights on residential property in SE1 for the first time, reports property consultants Cluttons.

The buyers, who traditionally look to invest in prime Central and West London, have been attracted south of the river by the new Shard development being built at London Bridge, due for completion in 2012, and the continued expansion of More London, the capital's growing business community to the West of Tower Bridge....

Cluttons' graduates go back to school

On Monday (May 17), a team of nine graduates, from chartered surveyors and property consultants Cluttons, undertook a volunteering project to revamp the reception children's play area at Shacklewell Primary School in Hackney.

As part of the firm's corporate responsibility, Cluttons encourages its employees to work as volunteers in a broad range of initiatives within the community.

In partnership with Business in the Community (BITC), the graduates tasks included painting...

Cluttons appoints new partner to planning and regeneration team

Cluttons is delighted to announce that development specialist Christopher Frost has joined the planning and regeneration team as a partner.

Chris has over 15 years experience and specialises in major planning and development projects. He has an excellent track record of residential, mixed-use and commercial projects and has extensive contacts within London planning authorities.

Malcolm Chumbley, head of the Land and development division at Cluttons, comments "Chris'...

Cluttons announces new partner and associate promotions

Cluttons is delighted to announce the promotion of Teri Ashton (client accounting) to partner at the firm.

Cluttons has also promoted the following to associate: Steven Hasler (telecoms), Sarah Mason (development agency), Richard Hole (residential lettings), Will Jones (residential lettings), Judy Voisey (residential sales), Ed Fielding (residential management), Lauren Hunt (residential valuation), George Tait (residential management), Sonya Allan (firm's accounts).

CGT could rise to 40% on non-business assets

James Hyman, partner for residential sales at Cluttons, comments on the news that CGT could rise to 40% on non-business assets:

"The forecast 22% uplift in capital gains tax to 40% could give the London market the supply it has been crying out for over the last 18 months. Many second homeowners and investors will see that this as an opportunity to come out of the market for the short term. Even if they were to hold onto the properties for any increase in value over the next...

Cluttons Residential Property Forecast

Cluttons Residential Property Forecast: Central London and UK residential values set to improve over 2010, but the improving forecast is reliant on short-term government measures and low interest rates.

A leading international property consultancy and chartered surveying firm, Cluttons, has this week released its May 2010 Residential Property Forecast.

The short-term outlook for UK house prices has improved slightly with growth of 1% predicted for both 2010 and 2011....

Lib Dem Mansion Tax proposals will not be implemented

James Hyman, partner for residential sales at Cluttons, comments on the announcement today that the Lib Dem Mansion Tax proposals will not be implemented:

"The property market will be breathing a sigh of relief today as it was announced that the Liberal Democrat's ‘Mansion Tax' plans will not be implemented as part of the new collation government policies.

"If it had been implemented, we were likely to have seen a bottleneck at the middle of the market...

Cluttons Resorts launches Pinheirinho on the Alentejo coast, Portugal

This summer, Cluttons Resorts will begin marketing Pinheirinho Hyatt Golf & Beach Resort located on the stunning and undeveloped Alentejo coast in Portugal.

This low density luxury residential resort will be fully branded and managed by Hyatt Hotels & Resorts and will feature a five-star luxury hotel, Park Hyatt...

Cluttons builds on recent success with new high street offices in Wapping

Property consultants Cluttons is building on its success in Central London in the last 12 months by relocating its existing Wapping offices to larger and more prominent waterfront premises on the high street.

The opening of the new offices represents a significant new investment by Cluttons, reaffirming its ongoing commitment to both Central London and the local area, which is set to reap the benefits of the reopening of the East London Line and the ripple effect from the 2012...

Family homes drive capital’s rental market price growth

Large family homes are driving up rents in the capital according to the latest data from property consultants Cluttons. This is particularly true of Central West and North West London in typically family friendly areas such as Holland Park and St John's Wood.

Rents in Prime Central London rose by an average 3.1% over the first quarter of 2010, with five-plus bedroom houses seeing the highest uplift in rents at 7%. These properties are the top choice for families who have been...

Cluttons reveals ‘community living' to be at the heart of Dubai's real estate fortunes

Heightened interest in the Jumeirah district shows market to be maturing out of an oversupply situation

Market report for Q1 2010: Whilst the residential market in Dubai remains undoubtedly soft with sales down 2.9% for the quarter and rentals 5.4%, heightened interest around residential developments may signal resumption in transactions over the next two quarters.

The report finds that interest is concentrated in residential property for purchase or rent is concentrated in...

Commercial property market outlook

Central London office market rebounds faster than expected

As the robust nature of London's micro-economy masks fragility elsewhere

Offices

The resilience of London's micro-economy is leading a recovery in commercial property rental values 9 months earlier than expected, so say leading international property consultants and chartered surveyors, Cluttons LLP, in their latest Commercial Property Market Outlook, but concerns persist about the continuing recovery of...

La dolce vita on the shores of Lake Como, Italy

This week, Cluttons Resorts launched a new development on the shores of Lake Como in Italy. Residenza del Lago Azure is an exclusive private gated development of 28 villas and apartments with a choice of one, two and three bedrooms. This new hillside development has magnificent and unobstructed views over the lake. The homes will be built with local stone to complement the location. The interior design is chic and modern and features large picture windows to maximize the views.

The...

Market outperforming returns

Last year, in a challenging market environment, Cluttons' investment and fund management team's client portfolios achieved total returns of between 8.8% and 14.9%, significantly ahead of the IPD Monthly Index which recorded a return of 2.2%.

The team also gained industry recognition being nominated for Property Manger of the year by Global Pensions and voted into the top 10 firms for investment in a recent Estates Gazette survey.

For further information please see...

Budget 2010

James Hyman, partner for residential sales at property consultants Cluttons, comments on the Chancellor's decision to keep Capital Gains Tax at a flat rate of 18% and the implementation of 5% stamp duty on properties over £1million:

"Keeping capital gains tax at a flat rate of 18% may seem like a boost for the property market, but this is still going to create great uncertainty going forward. With the UK facing the prospect of a great deal of belt tightening in the...

City jobs boost highlights shortage of rental supply in the capital

The current boost in recruitment in the banking sector is pushing up rental demand in and around the City, highlighting the shortage of rental property. However, this will not lead to a steep rise in rents in the capital, according to property consultants Cluttons.

The latest figures from recruiters* show that financial institutions are back on the hiring trail, with the number of vacancies now double compared to a year ago. This influx of new city workers is being met with a severe...

Within five days of launching Weston, St James in Barbados, joint agents Cluttons Resorts and Cluttons Barbados have received 225 enquiries and 90% of the properties in the first phase have been reserved.

Robert Green, director, Cluttons Resorts said: “We are confident that this is not only the best value project in Barbados but across the Caribbean. Weston, St James offers us exactly what our client’s are looking for; excellent value properties in a Grade A location....

Empty Business Rates - who can help?

There can be no more despised tax for commercial property people than the Government's empty business rates.

This new charge on empty business premises came into force on April 1, 2008; owners having been granted relief on unoccupied properties previously by the 1988 Local Government and Finance Act. Under that Act empty industrial property was granted 100 per cent relief while all other commercial property received 50 per cent relief following an initial three months exemption....

Investors hurry to sell ahead of possible CGT hike

Property consultants Cluttons is reporting a noticeable uplift in the number of second home-owners and long term investors in Central London putting their properties on the market with a view to selling before the end of March. This is due to speculative fears that the Government will be making changes to Capital Gains Tax in this year’s Budget.

The current flat rate of 18% was introduced in 2008, replacing the variable rate linked to income tax rates and taper relief....

Central London prices set to surge 6% in 2010

Leading international property consultants and chartered surveyors, Cluttons, predicts prices in Central London will rise by sharply up 6% by the end of this year, with a further 4% increase during 2011. This contrasts sharply with a mere 1% growth for the rest of the UK, which will further increase the price gap between the Capital and the rest of the UK.

The report also predicts that rents are set to increase by 7% over the next two years, which is good news for buy-to-let...

Oxfordshire update

Such were the effects of the recession it is not an exaggeration to say that in 2009 Cluttons Styles & Whitlock was instructed on more shops in Oxford City Centre than in any previous 12 month period, including three shops in High Street as well as others in Turl Street, Broad Street and Gloucester Green. However demand, especially from independent operators such as Mr Simms Olde Sweet Shoppe and Footprints, has held up well and most are now let or under offer. Rental levels are...

Dubai property market overview – quarter four 2009

Report synopsis

The economy – market braced for debt repayments in 2010

A sluggish recovery in Dubai’s property market Q4 2009 suffered from a hit in market confidence during Dubai World’s possible default
Cluttons currently believes that there are continuing downside risks to the value of property as the market braces itself for the next series of debt repayments in 2010
It is felt that Dubai’s location as a centre of trade and...

2010 could herald changes to capital gains tax

The practice of ‘flipping’ second homes is likely to be outlawed for all as a result of the MPs expenses scandal whilst even the rate of capital gains tax may revert to parity with higher rates of income tax writes Shelagh Burke, an associate at Cluttons.

The uproar over MP’s expenses and in particular the tactic of ‘flipping’ second homes while claiming mortgage interest payments, council tax and the cost of refurbishments, has meant that capital...

Cluttons in Brighton reports first prime retail letting in the city this year

Cluttons Brighton office reports the first prime retail letting to take place in Brighton in 2010.

Cluttons’ associate Colin Brades advises: “retail agents in Brighton were encouraged by the level of requirements seen in the last quarter of 2009 and whilst the unfortunate weather conditions curtailed what had been an optimistic start to the festive trading period, many retailers remain cautiously optimistic about anticipated trading condition during 2010”....

Now is the time to buy in Barbados

The buzz is returning to Barbados and activity is picking up. Cluttons Barbados is optimistic about 2010 with figures over the last quarter showing significant signs of improvement in property sales enquiries and actual transactions. The number of serious enquiries are up by 80% this December and January compared with the same period last year.

Home buyers are attracted by the potential to negotiate a discounted price with high expectations of rental and capital growth. This is...

Wapping is an early winner in London’s Olympic letting race

With more than two years still to go before the start of London’s Olympic Games, the lettings market is already starting to benefit says property consultants Cluttons.

Key senior Olympics officials have recently taken up residence in Central London, renting properties in and around Wapping with its quiet location and classic warehouse conversions. The opening of the East London Line this spring is also set to radically improve links to the heart of the games at Stratford...

Riverfront flats most resilient in Central London

Properties with a view of the River Thames are the most resilient in times of economic turmoil, reports property consultant Cluttons. The latest research from Cluttons compares riverfront and non-riverfront properties in the Central London market.

On average, riverfront flats have lost just 4% of their value in the past two years, compared to a fall in average prices of 13% for those properties in the same area that do not have river view. There are a number of factors that make...

Central London house prices end year with strong growth, while rents continue to fall

Sales highlights • Sales prices in prime Central London rose 3.8% in Q4 2009, with the annual rate of growth this year standing at 7.7%. • Having fallen to -20.6% below peak levels in Q1 this year, prices have now rebounded to -12.8% below their Q3 2007 peak.• There has been an uplift in domestic demand in many areas, with the improving economic outlook in the capital serving to sharply improve confidence in job security.

James Hyman, partner for residential sales,...

December property sales buck seasonal trend

December has been unseasonally busy reports property consultants Cluttons. Traditional trends would dictate that the weeks running up to Christmas offer a seasonal lull in property market activity as people wait until the New Year to sell houses or look for a new home, but this year Cluttons reports a busy market with both buyers and sellers out in force in Central London.

James Hyman, partner for residential sales, says: “This has to be one of the best Decembers we have...

Peter Chapman comments on Empty Rate Relief extension announced in 2009 Pre-Budget Report

Alastair Darling today announced in his Pre-Budget Report that he is extending Empty Rate Relief for one year and increasing the amount at which empty properties are subject to rates from the current rateable value of £15,000 to a rateable value of £18,000 and above for the financial year 2010-11.

According to the Chancellor this will exempt an estimated 70 per cent of empty properties from the charge.

While this move is naturally welcomed, in the current...

New appointment to planning and regeneration

Cluttons is delighted to announce that Nigel Abbott has joined the planning and regeneration team as a partner based in the London office.

Nigel has over 20 years experience in the planning profession working in both the public and private sectors with Stroud District Council, Dalton Warner Davis LLP, Chapman Warren (now part of the RPS Group) and Knight Frank. During this time Nigel has worked on a wide range of projects for clients including developers, investors, landowners and...

Professionals turn to prime property investments in the Capital

Increasing numbers of those working in professional services are taking a long-term view of the property market and becoming property investors for the first time, reports property consultants Cluttons.

The past six months have seen a 40% increase in demand for property worth around the half million mark from solicitors, accountants and doctors who now see the residential property market as a good investment. With average savings rates less than 1%*, these cash rich investors are...

The Board of Investment (BOI) in Mauritius announced the launch of the Integrated Resort Scheme (IRS) in 2002, aimed at opening up the property market to wealthy foreign investors and creating a boom in the country’s tourist industry. With a minimum starting price of US$500,000 foreigners can also obtain residency status and with that various tax benefits.

These resorts have been strictly monitored by the BOI and only...

Cluttons' Residential Property Forecast

Recovery in sight for turbulent property market.

Leading international property consultants and chartered surveyors, Cluttons, releases its residential forecasts this week. The forecast predicts that the recent recovery in prices will continue in the long run, although it may see a step backwards next year before resuming its upward trend. Depending on fluctuations in the economy, external markets and lending conditions, Cluttons forecasts prices to grow by up to 2% in 2010 in a...

Promotions at Cluttons LLP

Cluttons LLP is delighted to announce the following have been promoted to salaried director at the firm: Ben Cullum (commercial valuations, Bahrain) and Ihsan Kharouf (commercial valuations, Bahrain).The firm has also promoted the following to associate: Richard Paul (commercial valuations, Dubai) and Ben Ward (investment and fund management, head office).

Sellers cash in on Central London price bubble

Central London property sellers are achieving prices in excess of the August 2007 peak of the market, as a direct consequence of the current stock famine, reports property consultants Cluttons.

The small number of homeowners who have decided to put their properties on the market over the last few weeks as confidence has turned, have been astounded at the price levels being achieved, which are as much as 5% in excess of pre-credit crunch prices. This is a direct result of the fact...

Council property management contract extension

Cluttons LLP’s contract to provide commercial property advice to Brighton & Hove City Council has been extended for an additional two year period.

Since originally securing the contract in 1995 and successfully tendering for renewal in both 2000 and 2005, Cluttons has continued to act as the Council’s Urban Portfolio Estate Managers providing both strategic property advice and a comprehensive range of property management services including the settlement of rent...

Increase in sealed bids drives Central London prices back to 2007 levels

Sealed bids and gazumping are once again prominent features of the Central London property market, as the severe shortage of homes for sale drives prices back to 2007 levels.

Property consultants Cluttons estimates that approximately 10% of sales are generating multiple offers and ending in sealed bids, with the vendor often achieving in excess of the full asking price. Properties which are particularly sought-after, such as family houses and large apartments in prominent...

Ludicrous Lib Dem 'Mansion Tax' would be disastrous for wider economy

James Hyman, Partner for Residential Sales, comments: "The impact of the Liberal Democrats' proposed 'Mansion Tax' on the wider economy would be significant alongside the new 50% top tax band on high income earners which is being introduced in April.

"The disposable income of the UK's top earners would be severely slashed as a result of these combined policies, which would undoubtedly impact all sectors of the economy as well as the housing market. The majority of people buying...

Central London office market to experience little relief from 2010 Rating Revaluation

Large rises and disparities forecast across the capital’s business rates bills.

Almost all office occupiers in central London will see a large rise in their business rates bills as a result of the 2010 Rating Revaluation. However, these rises are likely to include a number of inconsistencies that should be challenged as quickly as possible to avoid being overcharged. That is the message from property consultants, Cluttons in this latest report on the Government’s Rating...

London landlords fight back as rental stock diminishes

After a long period of tenants calling the shots in London, landlords have started to regain the upper hand, says property consultants Cluttons, which has seen rental stock decrease as ‘reluctant landlords’ return to the sales market.

The high levels of stock available until recently meant that tenants were able to dictate rental periods and negotiate down the landlord’s asking rent. However, the amount of choice has now diminished considerably according to...

Central London property selling in half the time

Average time to exchange falls from 8.6 months in July 2008 to 4.7 months in July 2009.

Property in Central London is selling in an average of 4.7 months (from entering the market to exchange of contracts) compared to 8.6 months a year ago, according to data from property consultants Cluttons.

The shortage of stock for sale in the capital is creating a supply/demand imbalance, with rising demand from buyers now keen to secure a home at the best possible price as the market...

Credit crunch anniversary to bring new wave of forced sales

Property consultants Cluttons is warning of more property heartache despite recent signs of house price recovery, as the market approaches the two year anniversary of the credit crunch.

Autumn is set to be a critical period, as a large number of people come to the end of two year fixed-rate and tracker mortgages, taken out close to the top of the market. Many buyers who bought at the peak will struggle to refinance at a rate they can afford, due to the loss of equity in their homes...

Cluttons appointed property consultants to OAMC

Cluttons has been appointed property consultants to Oman Airports Management Company (OAMC) as part of the multi-billion dollar project to expand Muscat International Airport.

Ian Gladwin, CEO of Cluttons Middle East, said this was one of the most exciting commercial developments to be announced in the Sultanate.

Philip Paul, head of Cluttons’ Oman office, said: “This will be a lengthy and in-depth analysis process after which we will be working with the...

Wealthy Londoners look to cash in on pied-à-terres

Many part time Londoners are choosing to sacrifice the luxury of their city ‘crash-pad’, either selling up or renting it out to create some extra income and ease stretched finances, reports property consultants Cluttons.

The reduction in the number of people who work in the city keeping a second residence, has resulted in a 15% rise in high quality, smaller apartments coming onto the lettings market in prime areas of central London, says Cluttons. This has opened up a...

London market prepares for late summer boost to supply

Property consultants Cluttons is forecasting a late summer increase in the supply of property for sale, as a further bout of City redundancies coincides with a surge in homeowners coming off two-year tracker deals.

James Hyman, partner for residential sales, said: "Buy to let landlords have made up the majority of forced sellers up to now, but many homeowners will be forced to bail out over the coming months, leading to more property for sale in the London market. This boost to...

London tenants call the shots

London tenants are making the most of their current strong position, reports property consultants Cluttons, which has noticed a shift in the power dynamic between tenants and landlords as people seek long-term security for their bargain rental.

The slow sales market is continuing to drive an oversupply of rental properties in London, with rents remaining low. Traditionally, landlords have been able to pick and choose tenants and dictate the terms of agreement, but the current...

Influx of foreign buyers supports price recovery in prime London

Foreign buyers are currently making the majority of all property purchases in prime London areas such as Chelsea, Knightsbridge and Hyde Park, reports property consultants Cluttons.

Despite the fact that prices have held firm in these traditionally upmarket areas, foreign buyers are prepared to pay a premium to secure the property they want as a result of considerable savings being made on the currency exchange.

James Hyman, partner for residential sales, said: "Despite...

Bring back first day marketing to increase housing market stock, says Cluttons

Property consultants Cluttons is calling for the government to re-instate first day marketing at a time when the shortage of stock for sale is seriously hindering housing market recovery. Since April this year, a property must have a complete Home Information Pack (HIP) in place before marketing can begin, which is adding to the acute lack of supply of property across central London.

Many tentative sellers are being deterred from putting their properties on the market by not only...

Government closes the door on empty premises rates loophole

The government is considering closing the loophole in rating legislation that allows the owner of a vacant building to claim a further period of empty rate exemption following the re-occupation of a building after an initial minimum period of six weeks.

Currently under existing legislation, which came into effect on April 1, 2008, empty industrial and warehouses premises are exempt from empty rates for a period of six months, while all other commercial buildings are exempt for a...

Cluttons acquires Glasgow High Street property

Cluttons’ investment agency team has acquired 70/76 Argyle Street, Glasgow for a private investor.

The property comprises a high street retail property which is situated in a prime pitch in Glasgow, and benefits from a return frontage to Queen Street, a secondary retailing location.

It is let to Next Plc on a full repairing and insuring lease. The lease term expires on 22 February 2022, leaving just under 13 years unexpired at the time of the acquisition. The tenant...

Cluttons’ Quarterly Property Market Update

Investment market begins to show signs of life but few positives yet in other markets.

The outlook for prime investment property is improving as yields begin to stabilise. Well-let property assets with strong covenants can look attractive when set against other income producing investments. This is the message from international property consultants, Cluttons, in their latest Quarterly Property Market Update.

According to senior partner, Bill Siegle, “While the...

New business venture in Worthing

Jim McClean, an associate of property consultants Cluttons Tod Miller, acting on behalf of landlord Clear View Hotels Ltd, reports a new occupier has been found for the 12 Bath Place snooker hall next door to Wheelers Clockmakers and Jewellers in Worthing.

Gym Xtreme has started fitting-out both floors to provide a fitness centre with training facilities specialising in boxing, karate and judo. The total floor space, which amounts to 5,800 sq ft on two floors, will accommodate...

Sellers should heed time on invigorated London market

Tight market conditions have revitalised the Central London market, however, property owners wishing to sell this year should take advantage now before the tide changes, says Cluttons.

The drastic shortage of property has created fierce competition between sellers, but with further bad economic news and redundancy announcements expected later in the summer, combined with the traditional summer lull in the property market, there is only a brief window of opportunity for...

Cluttons strengthens in Oxford

Cluttons is delighted to announce that one of Oxford’s longest established firms of independent chartered surveyors, estate agents and commercial property consultants, James Styles & Whitlock has agreed to merge with Cluttons.

James Styles & Whitlock, which was established in 1885, specialises in high quality, independent professional commercial and residential property advice within Oxford and the surrounding area and is particularly strong in the commercial agency...

Sellers are back in the driving seat in Central London

The drastic shortage of property for sale in Central London has created a seller's market, says Cluttons, with fierce competition among buyers and an increase in sealed bids.

At the end of last year buyers were rare and sellers were doing everything within their power to wrap them in cotton wool while the sale proceeded - often giving in to last minute gazundering. The market has changed dramatically in the last couple of months, as serious buyers return to the market to find there...

Conservatives seek to cut the costs of their first and second homes

Cluttons’ rating department has won the instruction from the Conservative Party to appeal against the rating assessment on both the current rating list and the 2010 revaluation on its London headquarters at 30 Milbank, London SW1 and its regional office building at Coleshill Manor, Coleshill, Birmingham.

The Conservative Party currently occupies approximately 15,000 sq ft on the 3rd and 5th floors of 30 Millbank while Coleshill Manor comprises 10,000 sq ft over three floors...

Supply/demand imbalance will drive positive house price growth from 2011

Cluttons moderates Central London Forecast.

Cluttons has adjusted its Central London housing market forecast to predict a 10% fall in prices in 2009 with a levelling off in 2010. This will be followed by a return to positive house price growth in 2011. The predicted peak to trough fall in Central London has been moderated to -27% from September 2007, compared to -29% in its previous forecast published in February 2009.

Recent market activity; with strong demand from...

Cluttons announces promotions

Cluttons has promoted the following to partner: - David Sanger (valuation and investment consulting), Paul Woodlock (telecoms), Philip Paul (Middle East valuations) and Paul Nathan (Middle East property management). Stephen Browne to director (Middle East).

Cluttons has promoted the following to associate: - James Hockley (residential valuations), Robert Topliss (valuation and investment consulting), Katie Townrow (residential lettings), Paul Shilling (project and building...

Consolidation sweeps through the telecoms market

T-Mobile (TMUK) and 3’s (H3G) consolidation project for equipment and infrastructure is beginning to come to fruition. The initiative will result in a consolidation of equipment and infrastructure. The use of existing infrastructure will allow both parties to operate from the same site thereby reducing the number of individual sites they hold currently in the UK. A large decommissioning programme is envisaged to effect big cost savings. The works programme is intended to last two to...

Cluttons re-focuses in Kent

Commercial operations principally seen as way forwardLondon and international property consultants, Cluttons, is streamlining its surveying business in Kent to concentrate primarily on commercial and development services, with the sale of its residential letting agency to Castle Estates, part of the Paladin Group.

The sale, which is part of an ongoing strategic review, will see Cluttons essentially withdraw from the residential market altogether in Kent, although it will continue...

Senior appointments at Cluttons

Bill Siegle takes over as senior partner while John Wood becomes head of commercial.

Bill Siegle has succeeded Richard Cotton as senior partner of Cluttons LLP.

Bill, who was previously head of Cluttons’ commercial division, joined the firm in 1997 following the merger with Daniel Smith and formally took over as senior partner on April 1, 2009.

With over 37 years experience in the property industry advising all manner of clients on all types of commercial...

Budget expected to provide long awaited housebuilding stimulus

The Chancellor’s budget in two weeks time is expected to finally reveal plans for the Government’s long awaited housebuilding stimulus. Alistair Darling is expected to announce a consultative initiative whereby the Government will seek expressions of interest from financial institutions interested in supporting the building of thousands of new homes to rent and so revive the moribund housebuilding industry.

Proposals are expected to be invited from pension funds and...

Firms to be hit by double whammy in business rates deferral

The Government has unexpectedly agreed to defer the 5% increase in business rates due to start on April 1, 2009, in response to the current economic situation.

In a surprise announcement the Government will bring forward regulations to enable ratepayers to defer 60% of the annual increase in their 2009-10 bills until 2010/11 and 2011/12.The business rates rise was based on the Retail Price Index in September 2008, then 5% but has since fallen to zero.

Commenting on the...

Cluttons appointed by the Royal Borough of Kensington and Chelsea

Cluttons has been appointed by the Royal Borough of Kensington and Chelsea to provide residential property services including advice on leasehold enfranchisement and licences for alterations. This followed a competitive tender involving a number of surveying firms.

Cerian Jones, leasehold enfranchisement partner at Cluttons, commented: “We are delighted to have been appointed by the Royal Borough to undertake this work. We have advised them in the past on an ad hoc basis,...

Canterbury sale crowns good day for Cluttons

Cluttons’, acting on behalf of Axa Sunlife Pension Scheme (Private Funds), has sold 87 St Dunstan’s Street, Canterbury, Kent, CT2 8AE to Cranmer Investments for a consideration of £625,000, reflecting a net initial yield of 6.2 per cent.

The property is currently let to accountants, Spain Brothers & Co on a Full Repairing and Insuring Lease for 10 years from July 2005 thus having 7 years unexpired. The passing rent is £41,000 per annum exclusive....

Government halves planned Council Rent increases but does nothing on business rates

Government’s decision smacks of political hypocrisy in light of refusal to freeze business rate increase

The Chancellor recently ruled out any plans to freeze the Government’s controversial 5 per cent increase in business rates at 1st April 2009, which has potentially disastrous implications for many UK retailers.

With the Government’s 2.5 per cent cut in VAT having done little to alleviate the pain felt on Britain’s high streets, with many retailers...

Interest rate reduction

James Hyman, partner for residential sales at Cluttons, comments on today's 0.5% reduction in interest rates to 0.5%:

“As the majority of property transactions are now cash-led it’s hard to see who will benefit from this rate cut apart from borrowers on variable or tracker rates. With bad news continuing on the stock markets, property investment looks far more appealing – but only for those with cash in the bank. For those seeking a mortgage, it has once again...

Villas Valriche, Mauritius weathers the global property storm

Despite the gloomy news emanating from many international property markets, there are always exceptions. Mauritius is one example, where at luxury residential golf estate Villas Valriche over 90% of the 132 villas properties in Phase 1 have been sold and early buyers there are already enjoying substantial capital growth, says Cluttons Resorts.

The recent limited launch of the first part of Phase 2 has also been received with enthusiasm by buyers. These properties, which include a...

Quarterly property market update

Falling rents, deteriorating values and widening yields reflect broader economic woes say Cluttons in its latest Quarterly Property Market Update, and yet opportunities persist.

The continuing plethora of bad news and negative economic data continues to take its toll on just about every sector of the economy with few appearing to be immune from this current recession. Falling output, rising unemployment, mounting insolvencies, deteriorating retail sales and a lack of liquidity from...

Barbados property is a winning investment formula

Property prices in Barbados are appreciating at between 10 – 15% per year at the middle of the market and often higher at the luxury end, even during these harder economic times. Cluttons Barbados says the property market remains in a stage of growth and has been driven by a strong economy and well established tourism industry. Barbados has fantastic amenities, golf courses, spas and restaurants with direct flights from major cities and of course the great climate and beaches!...

Buyers seeking unmodernised properties for added value

Unmodernised properties in prime locations are attracting creative buyers who can see huge potential price growth when the market improves, says Cluttons.

“Both developers and owner occupiers are searching out the real bargains in this market,” says James Hyman, partner for Residential Sales at Cluttons. “Unmodernised properties in need of complete renovation are coming back into vogue at knock down prices and offer greater long-term added value than more...

Cluttons appointment in Middle East

Cluttons has appointed Steven Morgan as head of its Dubai operation from January 1, 2009.

Steven has spent five years in the Gulf with the firm and prior to his new role, was heading up the UAE valuation function, prior to that he was with DTZ in the UK.

Commenting on the Dubai market in general, Steven said: “Although the Dubai market has not escaped the Global Financial turmoil with most sectors of the property market being affected, in the medium to long term the...

Cluttons’ rating team debuts at Covent Garden

Cluttons’ rating team has won the prestigious rating appointment to act on behalf of the Covent Garden Market Authority.

Cluttons role will be to advise and where necessary lodge appeals against the 2005 rating list assessments on 54 properties, which have a liability for rates. Covent Garden Market Authority has a tenanted estate extending to nearly 500 units and will be undertaking a comprehensive redevelopment of the site over the next two years.

Commenting on...

Kent Residential development market – update

Despite tough trading conditions and continuing weakness in the residential property market, transactions are still occurring for sensibly priced land and homes.

Peter Constable, a partner in Clutton’s Land & development division in Maidstone, reports that a survey of the firm’s database over the last year reveals its developer applicant list is reduced, with 46% of developers no longer trading or in administration. Transactions are still occurring principally with...

Price low and create footfall to secure a sale

The secret to selling in the current market is to focus on creating footfall in a property by pricing low to start with, says Cluttons, often resulting in a higher than expected final sale price.

Cluttons has experimented with pricing properties at 40% below the peak price of August 2007, which has created serious competition amongst buyers, resulting in sales at around 25-30% off peak price.

James Hyman, partner for residential sales at Cluttons, comments: "It is better...

Cluttons’ London partner appointment

Martin Heffron has recently joined Cluttons’ Project and building consultancy division as a partner. Martin will be specialising in dilapidations including expert opinion and expert witness work acting for both landlords and tenants. He recently held the position of director of the dilapidations resolution consultancy team at Atisreal.

Interest rate statement

James Hyman, partner for residential sales at Cluttons, comments on today's 0.5% reduction in interest rates to 1.5%:

"With redundancies and unemployment on the rise, and consumer confidence in the economy at an all time low, this rate cut is unlikely to deliver a dramatic turnaround in fortunes. It will help those homeowners on trackers and variable rates by making their home more affordable, but perversely, this can have a negative impact on transactions, as their homes suddenly...

February burst of activity expected, as sellers face reality of market

The property market is expected to benefit from a noticeable increase in activity in February and March, as homeowners face up to the market now Christmas has passed, predicts Cluttons. Many homeowners who need to sell have sat tight over recent months, waiting for the Christmas holidays to pass before making a decision over whether to try and ride out the slump, or sell at a much reduced price.

Cluttons expects that many will now face selling, with little hope of a radical...

Empty property relief – where are we now?

The recent spate of retailers, commercial property companies, funds and portfolio’s in or on the brink of administration, has already left the Government’s Pre-Budget Report (PBR) announcement on the Empty Property Relief in tatters.

With market conditions likely to worsen and lenders appearing to act with undue haste when foreclosing on property companies, the Government needs to do more to help struggling commercial property owners than just the piecemeal offering...

London housing market predictions

Opportunities will open up for buyers in early 2009

Highlights • Central London prices will dip to around 20-25% below autumn 2007 peak prices in early 2009, after which they will stabilise and bottom out at 25-30% below peak prices in early 2010 • A window of opportunity will open up for homebuyers and investors with high levels of equity and good credit ratings • Transaction volumes will increase in 2009 as investors take advantage of cheap property, but remain...

Cluttons’ Pre-Budget report

The Chancellor, Alistair Darling, announced a £20 billion fiscal stimulus in his Pre-Budget Report on Monday but what will any of this do for the Property Market?

Restarting our becalmed property market is seen by many commentators as the solution to failing confidence and boosting all round consumer spending. However, Monday’s Pre-Budget Report did little to signal that either the commercial or residential property market will see a recovery for some time to...

Empty property relief – a missed opportunity

The Chancellor announced on Monday that he is increasing the threshold at which an empty property becomes liable for business rates temporarily. For the financial year 2009-10, empty properties with a rateable value of less than £15,000 will be exempt from business rates.

According to HM Treasury some 70 per cent of properties will be exempt from the charge but quite where and how they arrive at a figure of 70 per cent is unclear although, it is rumoured to include cash...

Faversham: Kent market town offers best value in downturn

Canterbury has traditionally been the jewel in Kent's crown for home buyers, and so far prices have remained relatively resilient during the downturn. Consequently, homebuyers looking for value for money are seeking out nearby Faversham, which is coming into its own as one of the county's most desirable towns, reports Cluttons, with prices up to 15% more affordable than Canterbury.

Canterbury’s lively social scene, universities, colleges and fast-growing local economy...

Dramatic rates cuts must herald a return to mortgage funding

Richard Cotton, divisional head of Residential Agency at Cluttons, comments on today's 1.5% reduction in interest rates to 3%:

"This dramatic 1.5% cut in interest rates will deliver an immediate boost to the economy. However, mortgage funding must improve without delay with lenders passing cuts on to customers now. With the bank rescue plan now in place there is no longer an excuse for high mortgage rates.

“Rate cuts will help improve sentiment in the housing...

Kent Property Market Report 2008

Kent’s long-term prospects remain sound – despite the economic downturn

With the economic downturn and credit crunch likely to dominate the national agenda for the foreseeable future, for many this is a time of great concern and uncertainty especially with the recent spate of banking collapses, rising unemployment, falling house prices and the prospect of recession looming just around the corner. For the residents and businesses of Kent, these anxieties are no different,...

Cluttons announces promotions

Cluttons has promoted the following to salaried partner: - Alex Hamel (planning and regeneration).

Cluttons has promoted the following to associate: - Clive Stone (residential management), Ian Wilson (residential management).

The Westfield effect

The much-anticipated launch of Westfield London, a giant 1.6m square foot shopping centre in Shepherd's Bush, is set to blur the postcode boundaries of house prices in West London, reports Cluttons.

Holland Park's neighbouring areas Brook Green and Shepherds Bush, the postcodes of W14 and W12 closest to the centre, are tipped to experience an increase in activity over the next year following the launch. Both areas offer good value per square foot and vastly improved transport...

Cluttons wins marketing consultancy role with Gladedale

Award-winning developer Gladedale has appointed Cluttons’ New homes and Residential investment teams as marketing advisors on two of their Essex schemes.

The first, The Garrison in Shoeburyness, is the landmark development of approximately 650 units at a former Ministry of Defence garrison, set in acres of parkland, nature reserves and wetlands on the beautiful Essex coast. The second, Mistley Quay, is the restoration of a Grade II listed building on the banks of the River...

Marylebone offers good value for money to downsizing City workers

City workers who have been living the high life in Kensington and Chelsea will be tempted to hop north across Hyde Park to the more affordable rents of Marylebone and the surrounding area, which still offers a prestigious address and excellent links to the City.

Those workers, affected by current turmoil in the financial markets, still have a number of attractive living options at their disposal, says Cluttons, which is offering a new collection of rental homes for tenants looking...

Strict timeframes for property sales reduce exposure to gazundering

Cluttons is implementing strict turnaround times for potential purchasers in order to secure the exchange of contracts as quickly as possible, and reduce exposure to gazundering.

When a purchaser makes an offer, Cluttons introduces the following timeframes in which the sale must proceed:1) A solicitor must be instructed that day;2) A survey, if there is to be one, should take place within seven days;3) A written mortgage offer must be in place within 14 days;4) Exchange must take...

Cluttons reorganises and expands consultancy business

Cluttons is delighted to announce that James Gray is to become the head of Project and building consultancy from 1st October 2008.

James’s appointment follows the promotion of current head of Project and building consultancy, Paul Chilton to managing partner, both effective 1st October 2008.

Commenting on James’s appointment, Paul Chilton said, ‘’James brings with him the benefit of a deep set of technical, business and soft skills in order to...

Cluttons’ Quarterly West End Office Update – Q3 2008

The West End investment market witnessed its slowest quarter for more than three years as transactions fell by nearly 50 per cent to £447 million in the 3rd quarter of 2008. For the first time the effects of the credit crunch began to seep through into the West End office market as faltering confidence, a lack of credit and corporate cutbacks began to bite.

“There is no doubt that the strength has gone out of the investment market and with it the confidence of many...

Cluttons bolsters Middle East presence

Cluttons has restructured its Middle East operation with the appointment of Ian Gladwin as head of the Middle East together with the appointment of a new regional board.

Commenting on the restructuring, Bill Siegle, senior partner designate said, “If we have learned anything from the last few weeks and months it is that we ignore the importance of the petrodollar and the rise of the sovereign wealth funds at our peril. It is vitally important for our business and economy as a...

Cluttons’ Enright named property manager of the year

Cluttons’ residential professional surveyor, Sarah Enright, has been named The Crown Estates Urban Property Manager of the Year for 2008.Sarah, who has worked for Cluttons for 8 years, won this prestigious award for her work on the Crown’s residential London portfolio, which includes approximately 1,500 properties around Regent’s Park, Kensington Palace Gardens and St James’s Park.

The Crown Estate was particularly impressed with Sarah’s grasp of rents...

London's rental market feels early impact of Lehman collapse

A number of Cluttons' tenants based in Belgravia and Wapping have given immediate notice on their rental properties, following redundancies resulting from the collapse of Lehman Bros. on Monday.

One tenant, an ex-Lehman employee, requested his deposit be used for his final month's rent, as he wasn't sure if he would be paid his salary at the end of September.

Richard Cotton, head of the Residential Agency division at Cluttons comments: "It is too early to...

Bahia Beach Resort & Golf Club is the first residential development on the Caribbean island of Puerto Rico to be actively marketed to British homebuyers.

Puerto Rico is the strongest economically performing island in the Caribbean and is a commonwealth of the United States. Until now, the property market has been dominated by the US but is now being promoted to European countries.

Tucked...

Despite the gloomy news emanating from many international property markets, there are always exceptions. Mauritius is one example, where at luxury residential golf estate Villas Valriche over 95% of the 132 villas properties in Phase 1 have been sold and early buyers there are already enjoying substantial capital growth.

Due to strong pent up demand, a...

Tenants act quickly to snap up good deals

The London lettings market is booming as rents drop to a realistic level and tenants become confident they are securing the best deals, reports Cluttons, who is recruiting new lettings staff in London to cope with demand.

A surge in the supply of rental properties over recent months led to a softening in rents across the board during July and August. This has resulted in the market balancing, as the price expectations of landlords begin to match those of tenants, causing a surge in...

Barbados property is a winning investment formula

Property prices in Barbados are appreciating at between 15 – 20% per year at the middle of the market and often even higher at the luxury end. Such price increases have been driven by a strong economy, well established tourism industry, direct flights, climate and the strength of the pound against the dollar which, even after recent falls, remains historically high. This has all led to a winning formula for British buyers.

In the recorded history of property on the island,...

Riverside homes now within reach of lifestyle tenants

Lifestyle tenants are now taking the opportunity to live the dream in a riverside home, as landlords of penthouse and top end riverside apartments in London are adjusting their rents as they face-up to a more realistic lettings market, says Cluttons.

Those who invested in less expensive one and two bedroom apartments on the lower floors of riverside developments are already enjoying a booming rentals market, generating in the region of £400 - £500 per week. These...

Croydon rates Cluttons ahead of competitors

Cluttons has won the prestigious instruction of Rating Surveyors to Croydon Council, against fierce competition.

The instruction, on a four-year contract, is to advise the Council on minimising their exposure to business rates on all of their operational buildings, which exceed 400 properties and have a rateable value of approximately £40 million. Commenting on the instruction, Peter Chapman, head of rating at Cluttons said: “I am delighted Cluttons has won its first...

Cluttons comments on the Bank of England's decision to hold interest rates at 5%

James Hyman, partner for residential sales at Cluttons, comments on the Bank of England's decision to hold interest rates at 5% today: "A reduction in the cost of finance today would have provided a boost to buyer confidence, but it is equally important that lenders go further to pass existing savings on to consumers.

"Where previously finance has been the main issue, the general economic downturn and concerns surrounding unemployment and possible recession are now having a greater...

Cluttons launches property asset recovery service

Cluttons has established a new Property Asset Recovery Services team within the firm in response to the current economic downturn.

The team led by commercial partner and LPA Receiver, Michael Dix, and supported by residential partner, Tim Glover and project and building partner, Paul Chilton, includes two former corporate and property bankers, Ed Stollery and Ian MacGruer, who are widely experienced working with major companies and financial institutions on capital restructuring,...

Cluttons goes marching in to Southampton

Chartered surveyors and property consultants Cluttons, has relocated the offices of its Hampshire planning & regeneration team from Romsey to Southampton following the sale of the firm’s rural business earlier this year.

After 12 successful years in Romsey, the planning & regeneration team has moved to Number 8, West Links, Tollgate Business Park, Chandler’s Ford, Southampton.

Commenting on the move, Bob Hull, a partner in the Land and development...

Very little, very late

James Hyman, partner for residential sales at Cluttons, comments on the government’s rescue plan for the housing market: “This morning’s announcement will finally resolve the stamp duty fiasco that has hovered over the housing market in recent weeks. It is a huge relief that the uncertainty surrounding stamp duty has been removed, as rumours of a total suspension of the tax had an immediate and detrimental impact on the whole market.

“However, the change in...

Government must address the wider economy

"The Government must address the wider economy, rather than plaster over the cracks of the housing market," comments Nick Dawson, sales manager at Cluttons on the Government's expected proposals to help the housing market, to be announced tomorrow: "I do not expect the Government's supposed rescue plan for the housing market will be nearly radical enough, and will instead attempt to plaster over the cracks while the real solution lies in addressing the wider economic...

Survival of the private investor in today’s tough market

Case study: individual investor/developer determined to turn a profit in the credit crunch.

When seasoned investor Howard Calvert bought two rundown maisonettes in London’s Swiss Cottage in mid 2007, he saw good profit potential in his plan to renovate the properties into a large five bedroom house.

However, he hadn’t banked on the housing market being gripped so tightly by the credit crunch by the time the project was finished.

This is a problem many...

Rents come under pressure in the capital

Rents in London are beginning to dip, as the supply of rental property on the market overtakes demand, reports Cluttons.

While the rental market is performing well, the vast numbers of sellers who have decided to let their property instead has driven a surge in supply, which is starting to have an impact on rents.Cluttons' South Kensington office reports that over the last month, rents have fallen by up to 5% in South Kensington, Chelsea and Knightsbridge, where the supply of...

Government inaction on stamp duty suspension has immediate effect

James Hyman, Partner for Residential Sales at Cluttons, comments:“The lack of immediate, decisive action from the Government following last week’s speculation surrounding the possible scrapping of stamp duty is already having a negative impact on the housing market.

“We warned that implementation of a stamp duty suspension would need to be pushed through straight away if it was to be successful and avoid bringing further stagnation to the market. The possibility...

The Government’s new charge on empty business premises is in disarray

he Government’s new charge on empty business premises, intended to stimulate redevelopment and bring empty property back into use is in disarray, writes Peter Chapman, head of rating at Cluttons LLP.

The Government’s well intentioned but half-baked abolition of empty rates relief earlier this year has single-handedly failed in its objective to stimulate redevelopment or bring back into use empty commercial buildings. In fact the introduction of the new charge has had...

Cluttons comments on the Bank of England's decision to hold interest rates at 5%

Richard Cotton, senior partner at Cluttons comments on the Bank of England's decision to hold interest rates at 5% today:

"The Bank's decision to hold interest rates sends out a negative message to consumers, that it is not taking action to tackle the current stagnation of the housing market.

"The key point, however, is that lenders must pass existing savings on to their customers by reducing mortgage rates and increasing available funding. If buyers are able to enter the...

Cluttons comments on speculation surrounding a suspension of stamp duty

Teresa Kane, property sales manager at Cluttons comments on speculation surrounding a suspension of stamp duty:

News that the Government is considering an imminent stamp duty holiday is music to the ears of homebuyers, who are already struggling with the spiralling costs of moving home.

"Homeowners will be encouraged to move immediately rather than wait and see if the market improves, in order to benefit from this temporary saving on stamp duty. This would bring much needed...

A 0.5% drop in interest rates is needed to rescue the housing market

James Hyman, residential partner for sales at Cluttons comments:

"I urge the Bank of England to cut interest rates this week by 0.5%, bringing confidence to the market and enabling borrowing to fall in line with the cost of buying a property.

"The cost of borrowing has risen by approximately 15% compared to a year ago, due to high arrangement fees and mortgage rates from lenders who have failed to pass on savings. A 0.5% drop in rates would encourage people to consider...

Manufacturing woes will be not helped by abolition of empty rates relief

The Chartered Institute of Purchasing and Supply has reported that manufacturing activity fell in July for the third month in a row, and at the fastest pace in nearly a decade. Its headline index of manufacturing activity fell to 44.3 in July, down from 45.9 in June, its lowest reading since December 1998. According to reports any figure under 50 suggests that the sector is shrinking, while analysts are reported as saying that the decrease in the index for new orders, which fell to 40.5...

Rising insolvencies add to property woes

The number of failing companies in England and Wales rose sharply in the second quarter of this year as the credit crunch and economic downturn tightened its grip.The Government’s own Insolvency Service said 3,560 companies went into liquidation between April and June of 2008, an increase of 11.6 percent on the first quarter and an increase of 15.0 percent on the same period a year ago, their highest since 2003.

Commenting on the rise in insolvencies, Bill Siegle, head of...

Homes with offices offer small businesses cost saving options

Small business owners could make considerable savings on overheads by investing in a house with office space, reports Cluttons, as London remains the most expensive city in the world to rent office space.*

Small businesses are often the first to suffer when costs rise and the economy slows, making commercial conditions more difficult. Those business owners who have paid for rented office space in recent years may now be looking for ways to reduce their outgoings, and buying a home...

Government resists throwing lifeline to mortgage industry

James Hyman, partner for residential sales at Cluttons comments on Sir James Crosby's interim report on mortgage finance, released today:

"The Crosby Report accepts that the current logjam in the mortgage market will continue for the forseeable future, yet recommends no immediate action to break the current deadlock in the housing market.

"An immediate extension of the scheme allowing lenders to swap new mortgage debt for government securities would shore up confidence in...

Reluctant landlords emerge from weakened sales market

A new breed of reluctant landlord is emerging as the UK property market falters and sellers decide to let their property while they ride out the slump, reports Cluttons. Consequently, the lettings market has seen an influx of inexperienced landlords who are often unrealistic about rental expectations and uneducated about tenants' rights.

Lynn Hilton, partner at Cluttons responsible for lettings, says: "Many of our new landlords are not entering the lettings market by choice and...

Cluttons responds to interest rate decision

Richard Cotton, senior partner at Cluttons responds to the Bank's decision to maintain interest rates at 5%:

"The Bank's decision to maintain rates today suggests that it is continuing its laissez-faire attitude of the last two months, and failing to take positive action to deal with the current downturn in the property market and the wider economy which must be a more serious problem than responding to rising inflation.

"The property industry needs to hear a...

The last of the original Tannery buildings, at Stour Street, Canterbury to be redeveloped

Local developer shows confidence in the market with new residential scheme.

Specialist Faversham developer, Colin Strickland is defying the market with plans to redevelop the original Tannery Buildings at Stour Street, Canterbury following the acquisition of the site from Bellway Homes PLC.

The 18th Century former Connolly leather tannery represents the last significant undeveloped site within the walled city of Canterbury and whilst most of the ancient Tannery site is...

Forced sales will bring energy to London property market

The current stand-off between house buyers and sellers in the London property market will start to break as forced sales begin to appear in many areas of the Capital for the first time, reports Cluttons, one of London’s leading estate agents.

Financial constraints is the early driving force behind many forced sellers, as fixed-rate deals finish and City pay rises fail to come to fruition. Those who have overstretched in order to secure their mortgage are increasingly feeling...

Italian property prices continue to grow in 2008

The risk of a downturn in the Italian property market is considerably lower than in price bubble markets such as the UK, Ireland and Spain says property firm Cluttons who predicts modest price growth during 2008.

The Italian housing market cooled in 2007 when price increases reduced to around 4% in metropolitan areas down from a high of 10% in 2004. Since the mid 1990’s prices have risen continuously but at a slower rate than in those markets which are now facing the real...

Italy - property market report June 2008

National Overview

Overall the Italian housing market is cooling, although in 2007 this took the form of reduced price increases rather than actual falls. In fact in 2007 nominal house prices in the main metropolitan areas increased by around 4% compared to the high point reached in 2004 when there was a 10% rise over the preceding year. Following a period of recession in the mid 1990s prices have risen continuously but at a slower rate than in those markets which are now facing the...

Cluttons comments on the Carsberg Review of residential property

Richard Cotton, Senior Partner, Cluttons LLP, responds to today’s report on major property reform:

"We support the Carsberg Report recommendations which call for standard qualifications, regulation and redress schemes covering sales and lettings which will give the consumer greater confidence when buying and selling property. The UK's estate agents are among the least regulated in the western world and the Government needs to act upon these suggested reforms for the...

Mallorca property market remains strong

A common error for the north European buyer when analysing the Mallorcan property market is to compare it with trends on mainland Spain. While it is true that the market on the Spanish Costas has lost some of its buoyancy, mainly due to oversupply, this downturn has not been as severe in Mallorca. Increasingly stringent planning regulations, strict local authorities and tight limits on population growth have all combined to keep supply down and demand high.

The convenience of...

London market now value driven says Cluttons

A further 10% drop in London’s house prices is needed to provide buyers with a safety net to commit to the market now to safe guard against any future or further downturn in the market, says Cluttons, a London leading estate agent.

“Willing sellers are using price incentives to get deals tied up and it’s no longer about location, it’s all about value,” says James Hyman, partner at Cluttons.

“A further 10% drop in prices overnight will...

Red Sea and golf course views from Azzurra apartments

Overlooking the Sahl Hasheesh Bay, an area considered to be the Jewel of the Red Sea, Azzurra is set to become a world class development in one of Egypt’s leading resorts.

Azzurra has been designed so that no two properties are the same. There is a choice of one, two and three bedroom apartments, all of which have a sea view, a golf view or both. There will be a total of 550 apartments. The architecture is elegant and chic blending traditional, oriental and contemporary...

Cluttons appointment in Middle East

Jonathan Fothergill has recently joined Cluttons’ Middle East division as a partner. Fothergill will be working in valuation and investment consultancy based in Dubai. He recently held the position as head of investment at Knight Frank and was based in central and eastern Europe for five years.

Charities could aid owners in Empty Business Rates debate

The impact of the new additional rates charge on empty business premises is only just beginning to be felt in commercial property but already developers and owners are looking at ways of mitigating their losses following the imposition of the charge on 1st April 2008.

Whilst those developers fortunate enough to have planning permission in place will almost certainly bring forward any planned redevelopment in order to avoid paying the charge, those developers not yet at the planning...

Developers suffer from the difficult house market conditions

A slowing housing market and difficulties in obtaining mortgages, is beginning to takes its toil on the region’s house builders, particularly with the sale of apartments.

Cluttons reports that most national and regional developers are showing a patchy sales rate from one week to another in the present economic climate, although houses are still tending to sell better than flats.

Cuts in interest rates by the Bank of England were supposed to help reinvigorate the...

Rating impact on brownfield land

The introduction of the new Rating Bill and its additional rates charge on empty property is likely to have little impact on bringing back into use empty buildings on brownfield sites.

Rates on empty business premises came into force on April 1, 2008; owners having previously been granted relief on unoccupied properties by the 1988 Local Government and Finance Act. Under that Act empty industrial property was granted 100% relief whilst all other commercial property received 50%...

Alternative property investments - regulated tenancies

After more than ten years of “buy-to-let” and Assured Shorthold Tenancies (ASTs), do old regulated tenancies still make an attractive and worthwhile investment?

For the first time in a decade house prices are falling and the good times for the moment appear to have gone.

But for property investors, a depressed market does not have to be all doom and gloom. In fact many argue the opposite, as opportunities now present themselves for the savvy investor prepared to...

Promotions - April 2008

Cluttons has promoted the following to partner: - Barbara Mansour (residential sales), John Martin (residential professional), Catherine Merrett (residential sales) and Ian Paton (project and building consultancy).

Cluttons has promoted the following to associate: - Gerard Albert (project and building consultancy), Richard Angel (residential valuation), Katie Barlow (commercial management), Paula Booth (residential lettings), William Dewsnap (residential valuation), Christine...

Smiths Gore's acquistion of Cluttons' rural divisiion

Smiths Gore today confirmed that it will acquire Cluttons’ rural division which sees the opening of four new offices and the transfer of 49 staff from Cluttons LLP to Smiths Gore on 1 April 2008.

Staff from a total of seven Cluttons offices will transfer to Smiths Gore as part of the deal. Among them are three equity partners Mike Woolridge, Maidstone; Chris Jowett, Winchester and Giles Wordsworth, Oxford. They move across to Smiths Gore where they will retain their status as...

Ex-Servicemen’s charity re-enlists Cluttons

Cluttons has been reappointed as Managing Agents to the E Hayes Dashwood Foundation Charity in Balham for a further three years from 1st April 2008.

The E Hayes Dashwood Foundation was founded in 1946 as a result of a charitable gift by Mr E Hayes Dashwood to provide accommodation for disabled ex-servicemen. The estate comprises 152 one, two and three bedroom purpose-built, self-contained flats, located in Radbourne Road and Telferscot Road, Balham, London SW12.

Any...

An autumnal chill hits commercial property values

At this time of year everyone notices the change in the weather and comments on it … talking about the weather is almost a national obsession!

Autumn 2007 has witnessed a real change in the barometer of sentiment for property investment. The long bull run in recent years of relentless rises in property values is now over, and the market is witnessing a hasty and long overdue correction. The current trend of rising yields and weakening prices is set to continue over the next...

Cluttons' project and building consultancy division wins Good Employer award

Building magazine recently conducted a survey to find the 50 best employers across the construction industry for The Building Good Employers Guide. More than 15,000 surveys were sent to firms throughout the industry and Cluttons' project and building consultancy division was successfully listed as one of the top 50 best employers.

The survey, which was carried out anonymously, asked staff to rate their firm and their role within the firm across various categories including...

Garden outlook remains rosy despite short-term uncertainty

The medium to long-term prospects for Kent’s property market remains good despite short-term economic difficulties.

That is the upbeat assessment from the latest Kent Property Market Report published by Cluttons in association with Kent County Council, Locate in Kent, Brachers Solicitors and the Royal Institution of Chartered Surveyors.

The report, which covers all of the property sub-markets from offices through to residential, is the most comprehensive survey of the...

Farms and the Pre-Budget Report

Will it be cold comfort down on the farm?

After years of fearing of tax changes, is this the budget to affect land values?Changes to Capital Gains Tax (CGT) and Inheritance Tax (IHT) announced by the Chancellor in his Pre-Budget Report (PBR), may dent agricultural land values for the first time in more than a decade.

Whilst farmers have suffered their fair share of knocks in recent years with competition, quotas and disease all impacting on revenues, agricultural land...

Cluttons' commercial appointments

Alistair Colston and Richard Payne have left Crisp Cowley and joined Cluttons' Bath commercial division.

Colston, previously a director heading up the commercial division at Crisp Cowley, joins Cluttons as partner and brings with him a wealth of expertise with particular specialism in valuation, expert witness work, and landlord and tenant management.

Payne held the position of an associate director and dealt with agency instructions across all sectors in the Bath and...

Cluttons Tod Miller in Sussex

Leading international chartered surveyors and property consultants, Cluttons LLP and the partners of niche West Sussex chartered surveyors and commercial property consultants, Tod Miller Thomas (TMT), are delighted to announce the merger of TMT’s existing West Sussex business with Cluttons to form Cluttons Tod Miller, so strengthening Cluttons’ commercial base in the South East with the addition of new offices and services at Chichester and Worthing to complement Cluttons...

Cluttons and BIS Ltd in strategic partnership

Cluttons has extended its managed service relationship with BIS to include 24x7 server management and end-user support encompassing Cluttons’ Middle East users as well as those in the UK.

BIS has been providing Wide Area Network and data centre hosting facilities to Cluttons since early 2006 and it was a logical step to extend the relationship to provide a fully comprehensive service.

Recently, Cluttons advised BIS on the acquisition of new data centre facilities...

Cluttons accommodates expansion

Cluttons has acquired a newly modernised floor of 5,100 sq ft at Meridien House, 42 Upper Berkeley Street, London W1 from Motcomb Estates, for occupation.

A new 10 year lease has been taken, without break, at a rent of £50 per sq ft and six months rent free.The offices will be occupied by Cluttons’ residential professional division and some of the firm’s support services.

Cluttons already occupies the second and third floors within Meridien House and will...

Cluttons appoints new human resources director

Cluttons LLP has made a key addition to its professional support management team with the appointment of Adrian Thornley as Human Resources Director whilst at the same time elevating the position to Board status for the first time.

The appointment will see Adrian assume responsibility for all areas of Human Resources within the firm, and report directly to the Board. Adrian previously worked for EC Harris LLP, as Head of Human Resources and Halliwells LLP as the Human Resources...

Cluttons' planning and regeneration appointments

Cluttons' planning and regeneration team has made a number of new appointments: Anthony Brindley has joined as associate; Schandel Jefferys joins as senior planner; Federica Ambrosini has joined as planner; Tracy-Ann Day has been appointed assistant planner, located in the Maidstone office; and Kelly Cox has joined as graduate surveyor.

Property firm Cluttons acquires Paul Jennings Associates

Chartered surveyors and property consultants, Cluttons LLP, have acquired niche cost consultants, Paul Jennings Associates.

Paul Jennings Associates specialises in project monitoring construction works on behalf of banks and major financial institutions.

Paul Chilton, head of the Project and Building Consultancy division at Cluttons said: “This represents an important step in the planned development of our cost management consultancy group. Our clients will benefit...

One King Street, Maidstone

Cluttons has been instructed to let the former main post office in Maidstone, at number One King Street, on behalf of landlord Telereal.

This prominently situated landmark building, opposite the entrance to The Mall Chequers Shopping Centre, offers a superb opportunity to secure a large floor area in the heart of Maidstone and comes to the market with the added benefit of A3 restaurant/café use.

The present accommodation extends to 1,436 sq m (15,546 sq ft) on three...

Henwood Farm, Cumnor, Oxfordshire

Offered to the market for the first time in over 60 years, Henwood Farm, near Cumnor, on the western fringe of Oxford City Centre in Oxford’s highly desirable Green Belt, comprises a Grade II Listed four bedroom farmhouse, a period three bedroom cottage, assorted farm buildings, and approximately 250 acres of farmland.

Available either as a whole or in up to 12 separate lots, Henwood Farm is likely to be of interest to the residential, equestrian and amenity market, as well...

Cluttons' commercial appointment

Andrew Dixon has recently joined Cluttons' commercial division as an associate. Dixon, who previously held a senior post within the estates and auditing team at National Grid Wireless, is working within the telecoms, and landlord and tenant teams to manage existing and new clients.

Unit 4 Progress Industrial Estate, Bircholt Road, Kent

Cluttons has let Unit 4 Progress Industrial Estate, Parkwood to Complete Office Furniture (UK) Limited for a period of five years. The unit has a total area including office, workshop and mezzanine of 443 sq m (4,768 sq ft). To demonstrate to their customers the high level of fit-out service they can provide, Complete Office Furniture (UK) Limited will refit the offices.

Jeremy Wilton, commercial agency partner at Cluttons said: “This is an attractive unit in a quiet location...

Empty business premises relief

The Valuation Office Agency is likely to see a surge in the number of appeals from business owners as a result of plans announced by Gordon Brown in the budget last week to remove the relief given on empty business premises from the 1st of April 2008.

Since the introduction of the 1988 Local Government and Finance Act, relief has been given to unoccupied property. At present empty industrial property obtains 100% relief whilst all other commercial property is entitled to 50% relief...

Cluttons announces promotions

Cluttons LLP has promoted the following to partner: - Judith Durham (residential sales), Robert Frankton (rural), Ivor Gomm (project and building consultancy), Michael Grant (Dubai urban management), John Gravett (landlord tenant and rating), Steve Morgan (Dubai urban management), Wendy Norman (planning and regeneration), Robert Tooke (residential professional), James Wickens (project and building consultancy), Michael Williams (Middle East research), Louisa Woodbridge (residential...

Farm buildings caught in new regulations

The Regulatory Reform (Fire Safety) Order (RRFSO) came into effect on October 1, 2006. The new order replaces existing fire safety law and affects all non-domestic premises including farms and smallholdings. The new legislation is intended to make the law easier to understand and comply with, and replaces all previous legislation. The intention of the new legislation is to help prevent fires and protect people. It abolishes fire certificates and emphasises the need for businesses to get...

Empty dwelling management orders

According to government statistics eight out of ten empty homes are privately owned and it is these properties that can encourage crime and anti-social behaviour and increase pressure on the housing stock, leading to calls for development on greenfield sites.

The government has introduced tax incentives to encourage the use of empty properties but, where such policies have not brought houses back into occupation, the Housing Act 2004 gives local housing authorities (LHAs)...

Houses in multiple occupation (HMO)

Landlords who let dwellings of three or more storeys occupied by five or more people living in two or more households must now apply for a mandatory licence from the local authority. Some buildings that have been converted entirely into self-contained flats are also included and a number of local authorities are also requiring licensing of landlords who own smaller HMOs.

The licensing system aims to ensure that properties in multiple occupation enjoy a good minimum standard of...

Land registration

Registration of your land is not compulsory. The usual circumstances that lead to registration of your land and property these days are when you sell it or need to mortgage or borrow against it. The question is therefore begged – why do I need to be concerned about registering my land and property?

Length of ownership is important. If the land has recently been acquired, it will already be registered. If the land has been passed down through the family, from one generation to...

The changing face of farm diversification

Why would anyone want to farm in the UK? Those already involved in the business know that profitability has been declining over many years and any profit is almost entirely dependant on support from the EU. That support is set to reduce further over the next five or six years, leaving UK agriculture in an even more perilous state.

There are of course reasons other than profit for people wanting to farm. Some are attracted to the way of life, others are born to it and would find it...

Cluttons appointed as main agent for Bahrain Financial Harbour

Bahrain Financial Harbour Holding Company (BFHHC) announced that it has appointed Cluttons as leasing, sales and marketing agents for its US$ 1.4 billion waterfront development project, Bahrain Financial Harbour (BFH).

Stephen Rothel, chief executive officer of BFHHC, said: “BFH is currently at a very critical junction, where something that started as a vision approximately two years ago is today rapidly reaching realisation. With over 90% of the development work being...

Paddington Walk, London W2

These duplexes are part of a spectacular contemporary development at Paddington Basin. They are the response of highly-acclaimed architects Munkenbeck & Marshall to a unique opportunity in the heart of the capital.

The three and four bedroom duplexes are part of Paddington Walk, a state-of-the-art development which is nominated for a prestigious RIBA award. Munckenbeck & Marshall have devoted much attention to the generous layout, high quality materials and stunning...

Cluttons boosts agency teams

Cluttons' Agency teams have been boosted with two high profile appointments.

Ralph Pearson, previously joint head of West End offices at Atisreal has joined the Cluttons' agency team as partner. He will continue to specialise in office agency and developments and will bring with him his expertise in major projects in Central London.

Nick Upsher is joining Cluttons’ investment and fund management team as associate. He previously worked as an investment agent at...

Cluttons launches residential professional division in Brighton

With a commercial presence in Brighton for 10 years, it was inevitable Cluttons LLP would expand to open a local residential professional division, particularly as the firm has one of the largest representations of qualified surveyors dealing with residential valuation in the United Kingdom.

The new team, headed by partner Tony Ford, will specialise in the valuation of residential property including high value secured lending and development opportunities, capital gains and...

2-10 Old Brompton Road and 1-10 Egerton Court, South Kensington

Cluttons has successfully acquired a freehold ground rent investment at 2-10 Old Brompton Road and 1-10 Egerton Court, South Kensington, for £2 million on behalf of the Sloane Stanley Estate at Allsop’s Commercial Auction. The purchase price reflected a nominal equivalent yield of just under 4.5% in respect of the commercial element.

The property is a mixed use building of approximately 13,000 sq ft, comprising five retail units and ten flats. The head lease has an...

22-24 High Street and 12 Culver Street West, Colchester

The Cluttons’ investment and fund management team, acting on behalf of the Dulwich Estate Charity, has sold the freehold interest in 22-24 High Street and 12 Culver Street West, Colchester, CO1 1DB, to a private investor for a consideration of £7,950,000 to reflect initial yield of 4.25%, after normal purchaser’s costs.

The property comprises two prime modern high street retail units let to Birthdays Ltd and Superdrug Stores plc on leases expiring in 2015 and 2025...

Is there a time limit for lodging an appeal against my new business rates assessment?

As part of the 2005 Rating Revaluation, which came into effect on the 1st April 2005, the Government removed the time limit for lodging an appeal.

A ratepayer may now lodge an appeal against their new rating assessment at any time after the 1st April 2005, which will have retrospective effect from this date.

The system now provides for only one opportunity to appeal against the general level of value unless there has been a later material change, which affects the...

New appointment to planning and regeneration team

Cluttons has appointed Paula McClinton to the planning and regeneration team as a senior planner. Paula, who was previously a scheme manager at The Richard Coleman Consultancy, has experience in conservation matters and townscape impact assessments.

Would "lifestyle farmer" large farmhouse on smaller acreage be exempt from inheritance tax?

Would a large farmhouse on a smaller acreage owned by a ‘lifestyle farmer’ be exempt from inheritance tax?

Two recent High Court and Lands Tribunal decisions, in what have become known as the Antrobus case, have thrown new light on Agricultural Property Relief (APR) from Inheritance Tax (IHT) in just such an instance. The Court decided in Antrobus 1 that a large house, occupied as a farmhouse with a farm of 130 acres by the late Miss Antrobus, should qualify as a...

Crawley retail commentary

According to retail agent Colin Brades of Cluttons LLP, all retail eyes are on Crawley as a trading destination.

Brades says: "We have seen a 50% rise in registered requirements for the town since plans were unveiled for a massive increase in the retail offer. Many of these are from traders already established in Croydon and the town is seen as a natural expansion rather than a competitor for this more established shopping location."

"With little room for retail expansion...

Brighton retail commentary

The beginning of 2006 has been a relatively quiet period in the Brighton retail market, with traders concentrating on generating business in difficult times. According to Colin Brades of Cluttons LLP "prime opportunities remain slim, but local agents have been busy marketing the increased number of secondary shops to become available.

"There are few developments coming on stream during the year and those that have been marketing space are close to a full house. In particular...

Freehold office investments sold for in-house charity

Cluttons LLP’s investment and fund management department, in conjunction with the commercial agency team, has completed the sale of numbers 42 and 43 Pall Mall, London SW1 to Amises Limited for the Governors of the Walcot Educational Foundation for a total price of £4.925 million.

Both properties, which measure a total of 7,100 sq ft are situated on the north side of Pall Mall, directly opposite the RAC Club, in the heart of St James’s. 42 Pall Mall was sold with...

New appointment to residential investment team

Cluttons has appointed Richard Angel to the residential investment team as an investment surveyor. Richard, who has previous experience as new developments manager within the Foxtons new homes and investments team, will focus on residential investment portfolios and new build blocks on behalf of retained clients such as The Crown Estate.

Cluttons' planning and regeneration team appointments

Cluttons has appointed Silvia Lazzerini and Steve Dring to the planning and regeneration team.

Silvia, who has architectural, urbanism and planning qualifications from the polytechnic of Turin, Italy and Edinburgh, joins the London team as an associate from Llewelyn Davies Yeang.

Steve Dring, senior planner, joins the Romsey team from Herefordshire Council specialising in planning policy work and landscape assessments.

Cornwallis House/Idenden House, Maidstone, Kent

Acting for the Maidstone Land Company, Cluttons’ south east agency team has sold Cornwallis House and Idenden House, Maidstone, Kent, two office buildings totalling 36,000 sq ft (3344 sq m). The investment produces an income of approximately £280,000 per annum and sold for £2.95m to a consortium of private investors, reflecting an initial yield close to 8%. Colliers CRE acted as joint agents on the project.

The Big Brother House – the VOA decides

Just as another group of dysfunctional celebrities enters the Big Brother House (BBH) for Celebrity Big Brother 2006 so the Valuation Office Agency (VOA) is currently considering whether BBH should be liable for Council Tax or Business Rates.

Just before Parliament’s Christmas recess so some meddling MP raised the question in the commons as to whether the contestants’ occupancy of the BBH should attract a charge for council tax or not? John Prescott’s Office of...

Will private pensions change allow overseas residential property to be put into a Sipp?

ill the change to private pensions next tax year allow overseas residential property to be put into a Sipp?

Currently residential property is excluded from the list of investments that an individual can hold in a Self-Invested Personal Pension (Sipp).

However, from April 6, 2006, residential property is one of a number of investments that will qualify as a Sipp, under the Government's proposed changes to personal pensions, and this will include a buy-to-let property or a...

Landmark rugby hotel sold

A private investment company has acquired the landmark Richmond Hill Hotel, one of the most popular rugby hotels in Richmond, Surrey.

Cluttons investment and fund management team acquired the freehold interest in the grade II listed, 138 bedroom, 3-star hotel, located at the top of Richmond Hill for £30 million.

The hotel, which is popular with visiting rugby teams and rugby supporters alike due to its close proximity to Twickenham, is let to Folio Hotels Ltd on a...

Cluttons goes the extra mile for Dorothy House

Cluttons land agents Robert Frankton and Lloyd James face the challenge of a lifetime as they gear up to cycle from Bath to Dublin in aid of Dorothy House Hospice Care.

Robert and Lloyd act as agents for the Church Commissioners for England and the Diocese of Bath and Wells. However, from August 5 to 8 they will be donning their lycra shorts to cycle 285 miles to raise money for Dorothy House Hospice Care. Robert and Lloyd were joined at the launch of their sponsorship effort by...

Demand pushing up prices

The lack of available land is temporarily pushing up prices whilst the allocation of the single payment scheme (SPS) entitlements is awaited.

Gerald FitzGerald, partner at Cluttons, said: “I believe that once entitlements have been allocated and normal supply resumes, prices will revert to levels similar to those we witnessed before the announcement of the SPS.

“However, in the longer term, as long as the current tax advantages in owning agricultural land...

Do or diversify – farming isn’t what it used to be

Increased income, enhancement of capital value and the utilisation of spare or otherwise impractical farm buildings are the main driving forces behind diversification.

Diversification on rural land holdings is not a new concept. The potential and importance of additional income from alternative enterprises as a result of the Mid Term Review of CAP has made diversification even more significant.

Mike Wooldridge, partner at Cluttons said: “Diversification is now more...

New appointments at Cluttons

Cluttons has appointed two new partners, Peter Chapman and Anthony Martin, to its commercial division. Both ex-directors from Chesterton, Peter Chapman joins as head of the rating team.

Experienced in commercial and retail properties in the corporate sector and client management, Peter will be responsible for driving the business forward. Anthony Martin has joined the valuation team, bringing with him experience in the banking and corporate sector. He was recruited due to an...

Choosing the right mortgage

Taking out a mortgage is one of the most important decisions you make and, with over 4,000 products on the market, numerous different lenders and all types of mortgage options, choosing the right mortgage can be very confusing.

Henry Knight, mortgage consultant at Cluttons Private Finance believes the most important consideration when choosing a mortgage is to have a basic understanding of the types of mortgages available.

“When selecting a mortgage, if the borrower...

First purchase secured for Associated British Ports Group pension scheme

The Cluttons’ investment & fund management team has recently secured the purchase of the Trousdale Baking Company unit on Wildmere Road, Banbury for Associated British Ports Group Pension Scheme for in excess of £3.53 million. This is the first purchase for the fund, following Cluttons’ appointment as investment & fund managers in November 2004.

The team was awarded a discretionary mandate to build up a balanced portfolio of properties across all sectors,...

Cluttons opens in Spain

Cluttons LLP has today announced the opening of two associated offices in southern Spain, in Marbella and Sotogrande. As well as the main business of residential sales and lettings, the Spanish offices boast a professional department of chartered surveyors offering building surveys and valuations.

Richard Cotton, senior partner at Cluttons LLP said: “We are excited to be entering into the European market. The opening of Cluttons Spain marks another step in our international...

Cluttons warns of pitfalls of barn conversions

The converting of barns or redundant rural buildings to houses has become very popular however the current wave of home improvement shows, such as Grand Designs, only highlight some of the “trials and tribulations” that owners can experience whilst trying to achieve their dream homes.What the shows often fail to highlight are the pitfalls that can befall the unwary. Obtaining consent to convert an old barn or granary building to residential use is now increasingly difficult and...

Cluttons reappointed by Brighton & Hove City Council

Cluttons has been reappointed by Brighton & Hove City Council (BHCC) to act as its urban portfolio estate managers for a new five year contract. This is Cluttons third successful bid for the contract. They opened their Brighton office in 1995 after winning the initial tender.

Bill Shipley, partner at Cluttons and the council contract account manager, said: "We have already worked with the council for a number of years and, therefore, have a thorough knowledge of their...

Cluttons converts to LLP

Following conversion to limited liability status on April 1, 2005, Cluttons LLP has adapted a more streamlined corporate management structure.

Richard Cotton, senior partner at Cluttons LLP said: “We saw the conversion to a limited liability partnership as being instrumental in allowing us to continue to attract and retain high calibre partners without exposing them to unforeseen risks.”

The firm will now be run by a Strategic Board, chaired by Richard Cotton, and a...

School to housing

Cluttons have obtained outline planning permission for 210 dwellings in Gravesend in Kent, part of the Thames Gateway. The proposals were submitted on behalf of the Education Authority, Kent County Council, which had declared the school redundant due to falling school rolls.

Key issues included the re-provision of community uses together with the retention and enhancement of the former school’s playing fields for public use.

Some 30% of the housing will be...

Cluttons to value the Foreign Office Estate

Cluttons have been appointed by the Estates Group of the Foreign Office to carry out a valuation of the Foreign Office Estate in 17 countries across Middle East and North Africa region.

The portfolio comprises over 370 properties including embassy offices, staff housing and a variety of consular, visa and other properties which the Foreign Office has historically owned.

Many of the properties have significant architectural and historical interest although the portfolio is...

Short term uncertainty to delay Central London office recovery

Central London office occupiers are optimistic about the medium-term outlook for their businesses, but are far from bubbling over with enthusiasm about prospects for the next six months. Only 54% of respondents to a recent survey expect turnover to rise over the next six months. This compares to 60% in the last survey six months ago. More significantly, this is substantially lower than the extremely optimistic 74% of occupiers that expect turnover to increase over the next two years....

Central London office occupiers unaware of DDA practicalities

Whilst over 90% of Central London office occupiers are aware that further provisions to the Disability Discrimination Act (1995) came into force last year, their knowledge of the practicalities are poor.

Neil Chegwidden, head of research at Cluttons says: “Our survey shows that over 20% of Central London office-based businesses are not aware of what the further provisions of the Act are. Furthermore, 43% are unaware that the further provisions of the Act are only applicable...

Commercial Property Yields Can Fall Further

Investor demand for commercial property has now reached fever pitch. Yields have already fallen by around 50 basis points so far this year, and by more in some markets – but can yields fall any further? The latest research from Cluttons, the property consultants, says YES!

In current market terms, logic tells us that with demand so strong and with few willing sellers, yields could certainly go lower. However, and particularly so for some who are relatively new to the property...

Cluttons launch 'Pride of Ownership' to meet challenges of MTR Reforms

Leading property advisors, Cluttons officially launched their 'Pride of Ownership' campaign at the Royal Smithfield Show last week, aimed at embracing the mid-term review reforms set out by DEFRA.

The 'pride of ownership' campaign identifies the opportunities to landowners and farmers to create added income and value to their property and its environment through the implementation of measures which give rise to the single farm payment and environment stewardship.

The...

Southampton Distribution Warehouse Sale

Cluttons acting on behalf an in-house charity client has sold Unit 25, Majestic Road, Nursling Industrial Estate, Southampton to Rodenhurst Estates Ltd (a subsidary of Highcroft Investments Plc) for £2,350,000 reflecting a net initial yield of 6.36% with an imminent rent review.

The property comprises a 25,331 sq. ft distribution warehouse unit let to Metabo UK Ltd, with a parent company guarantee from Metabowerke Gmbh & Co on full repairing and insuring terms for 16...

Raise your glass to the future of land investment

With the agricultural land market being firmly supported by life style buyers, the future use of the land is now very much under scrutiny with the sweeping changes proposed by the mid term review.

Whilst farmers will have to abide by all the cross-compliance rules governing how the land should be farmed to receive their single farm payment (SFP), there may be an opportunity for those well drained, south facing, sloping, sheltered fields to produce something other than cereals,...

Cluttons appointed on 6500 acre estate management contract

Cluttons has been awarded the Rural Estate Management contract by Wiltshire County Council for its Small Holdings Estate for an initial period of three years. The appointment follows a competitive tender, involving a two stage process. Cluttons had to pre-qualify and having passed this first assessment, tendered successfully in both quality and price against four other firms of chartered surveyors.

The Estate extends throughout Wiltshire and comprises around 60 main holdings,...

Stamp Duty modernisation threatens farm business tenancies

The new tax regime for Stamp Duty on all land transactions, which came into force in December 2003, discourages both landlords and farmers from entering into long term Farm Business Tenancies (FBTs), as the tax payable by tenants will mutiply several times over on signing any new lease for seven years or more. Prior to December 2003, duty was due only on the average annual rent - which in practice few paid. Now, with the stated aim of creating a modern, efficient and less avoidable system,...

Strengthening land value

The mid-term review of the Common Agricultural Policy has had a major impact on the sale of farmland during the last year. The amount of subsidy that farmers will receive in the future is likely to be based on the levels of production in the past and farmers must remain in occupation of their land until 2005 in order to be eligible for the payments. This has undoubtedly restricted the flow of farms that would otherwise have found their way onto the market. Many agents and solicitors have...

Prime Retail Investment Sale in Edinburgh

Cluttons has sold 47/47a George Street and 25 South West Thistle Street on behalf of Nestle UK Pension Trust Ltd to Tregunter Properties Ltd for £4,750,000. The property occupies the prime pitch on George Street and comprises an attractive feuhold Georgian building of 10,735 sq. ft.

The two ground floor retail units are let to Hobbs and Phase Eight for a further 19 years at rents equating to £115 psf Zone A, the first and second floors have consent for two 2-bedroom...

Surviving the inheritance tax burden

Many landowners will already be only too aware of their potential inheritance tax liabilities, but it will be a surprise to many residential property owners that they too are increasingly coming within the scope of this tax. As a result of substantial house price growth over the last decade, more and more are becoming liable for inheritance tax. Due to these increasing tax liabilities, there has been a proliferation of schemes devised to avoid this tax, particularly relating to people's...

Disability Discrimination Act came into force 1st Oct - Is your building ready?

The Disability Discrimination Act 1995 (DDA) was introduced with the aim of ending the various forms of discrimination faced by people with disabilities. In doing so, it gives certain rights to disabled people and places duties on others such as employers and service providers. From October 2004, service providers will be under an additional duty not to treat a disabled person less favourably, and this may mean making physical adjustments to all commercial premises.

There are...

Converted barn success at Kent Downs

Cluttons has recently completed a barn conversion at Penstock Hall, in East Brabourne, Near Wye which has become the new home to Kent Downs ANOB Unit (Area of Natural Outstanding Beauty).

The conversion was made possible by a grant from DEFRA and support from the Countryside Agency. Cluttons handled the entire project through to completion, including applying for necessary planning consent and obtaining building regulation approval, drawing up the building specification and...

Cluttons announces promotions

Cluttons has promoted Cerian Jones - residential management, Katie Leppard – land management, and Peter Turner – Central London business to partner. They have also promoted the following to associate: Sam Graham – development agency, Richard Dawtrey – commercial agency, Lindsay Hough – commercial management, Philip Crosby – commercial management, Bob Edwards – commercial valuation, and Simon Harding – residential professional.

A tip from the waste

On July 16, 2004 the number of landfill sites that will legally be allowed to accept hazardous waste will reduce from approximately two hundred and fifty to around a dozen as a result of the Landfill Directive. This regulation will reduce the volume of landfill sites licensed to take this type of waste by approximately 60%. The reason for the change is that the new regulations ban the established practice in this country of co-disposal (mixing hazardous waste with domestic refuse) which...

Cluttons appoints new agent to market developments in Dubai

Cluttons has appointed Alex Upson to market Emaar’s property portfolio in Dubai to the UK market. The appointment follows an exclusive agreement with international developer, Emaar who want to strengthen their UK presence by utilising Cluttons’ vast distribution network of offices throughout the UK. Alex has extensive knowledge of Dubai and its rapidly developing market, having previously worked there for Alco Beldan Ltd. More recently he worked for Hamptons International in Hampshire.

Do you have a registered title?

If you have bought your property within the last 20 years then you are very likely to have a registered title to prove your ownership. Everyone who does not have a registered title to the land should consider voluntary registration as it is much easier to sell land that has been registered where all the previous title, boundaries and restrictions are clearly set out. If there are any problems with access, restrictive covenants, or boundary disputes, these can be resolved now and registered...

Emaar Properties appoints Cluttons to strengthen UK presence

Cluttons has entered into an exclusive alliance with Dubai based international developer, Emaar Properties, to market a range of lifestyle developments from the UK. Emaar has a diverse and innovative property portfolio, ranging from apartments within the Burj Dubai Development, future home of the world’s tallest building and largest retail mall, to sea and marina facing apartments, tranquil desert-themed villas, to golf and equestrian communities. The partnership will allow Emaar to...

Vehicle access on common land

In a number of villages there are private houses where vehicular access to the property is by means of track across a common from the nearest public road. Until about ten years ago it was generally assumed that these houses would have obtained rights of access by prescription providing the vehicular rights have been used for over twenty years. However in 1993 the Court of Appeal decided in Hanning v Top Deck Travel Group Ltd that owners of this type of property would not be able to claim...

Cluttons appointed on £105 million portfolio valuation

Cluttons has been appointed independent valuer of the Duchy of Lancaster’s rural and development land portfolio, valued at £105 million as at March 2003. They will give independent ‘guidance’ to the managing agents who will complete a desk-top exercise this year, and value the whole portfolio in 2005 following a full inspection.

Cluttons also undertakes valuations for the Duchy of Cornwall who developed their own software for rural asset valuation and the...

Lease Code Ignorance - not widespread in Central London

Over 40% of Central London office occupiers are aware that they should be offered a choice of lease length and an alternative to an upward only rent review. However, with over two-thirds of businesses claiming not to have heard of the 2002 revised Code of Practice on Commercial Leases in England and Wales, suggests that tenants do not link the two together or are unaware of the source of the revised options.

A survey, jointly undertaken by Cluttons, the property consultants, and...

Cluttons secures largest brownfield site in Europe

Over the last six months, Cluttons has advised the London Borough of Barking & Dagenham on the proposed terms of a new joint venture between the Council, English Partnerships and Bellway Homes plc at Barking Reach.

The new company is to be known as Barking Riverside. The 368 acre (148.92 hectares) scheme, currently identified as one of the largest brownfield sites in Europe, will open up the 2km of River Thames currently surrounding the development and include 11,000 new...

Continued rating success

Cluttons has been particularly successful in acheiving substantial rate reductions in business rates on behalf of our clients. Namely: Crown Castle UK Ltd - Acheived reduction on Crystal Palace Transmitter from £616,500 reduced to £215,000 (a total saving of £680,000). Cooden Beach Golf Club - Agreement reached in respect of 1995 and 2000 rating assessments. In particular, the 1995 revaluation had been agreed by another agent at £48,500, but Cluttons were able to reduce this to £35,000.

Cluttons hits the high streets of the UAE

The Cluttons office in Sharjah has recently followed the example of its sister office in Dubai by moving from an upper level location on King Faisal Street to a new street level corner retail unit in the nearby Al Owais building behind the Nova Park Hotel. Last year the Dubai office moved from a first floor office to a ground floor office showroom unit in the Spectrum Building behind the Movenpick Hotel near Lamcy Plaza in the Oud Metha district of the city.

Resident partner Ron...

Chelsea Retail and Residential Investment Sale

The Church Commissioners for England have sold six properties on the King's Road for £12.25m. The six freehold buildings include five retail units and a well-known Chelsea restaurant, My Old Dutch. The upper parts are mainly residential with one office, occupied for some twenty years by Billington Jackson Advertising Ltd.

The purchasers, who own a number of other properties in the area, will continue the Church Commissioners' policy of maintaining a positive landlord and...

Cluttons wins new discretionary pension fund mandate

Following a competitive tender, Cluttons has been appointed to manage a new discretionary property mandate for the Associated British Ports (ABP) Group Pension Scheme.

The pension fund does not currently hold any property investments, but Cluttons will be building a direct property portfolio of £40 million.

Associated British Ports Holdings PLC is the largest ports operator in the UK with a portfolio of 21 ports. For the year ending December 31, 2003, the Group...

Property market builds on strong foundations

Kent’s commercial property market is outperforming other parts of the South East, as well as keeping pace with the national picture in some sectors – according to the 2004 Kent Property Market Report, published by Kent County Council, property experts Cluttons' commercial, and the inward investment agency, Locate in Kent.

Now in its 13th year, the report, which is endorsed by the Royal Institution of Chartered Surveyors (RICS), highlights the impact of recent...

Cluttons wins 3G acquisition work from Vodafone

Cluttons has doubled the number of acquisition instructions it handles for Vodafone in London following the recent issue of new work by the leading mobile operator as part of their most recent 3G rollout programme.

Cluttons were one of several agents who secured new work, but were allocated a significant allocation of the new cases.

The operator team is ring fenced from the team acting for site providers (landlord’s, landowners etc), but has access to a large number...

In your dreams

Cluttons is offering a striking, Grade II listed building that is believed to date back to 1534. The Dower House in Sonningham-on-Thames was designed by William Barker, steward and receiver of the Lordship of Sonning, for his daughter Ann. The house has all the benefits of a stately home, with heritage, walled gardens and a beautiful swimming pool. Everything in the house is of the highest quality and the reception hall features a magnificent fireplace with a carved stone surround. Planning...

Perfect downsize pads for the retired

Many retired people are now looking for low-maintenance homes in central, but quiet neighbourhoods that have lots of amenities.

James Hyman of Cluttons says that the South Bank area is popular with downsizing retirees moving to London from the Home Counties.

“Now that transport links have improved and most building work is completed, we’ve had an influx of retired people and those approaching retirement age. The river location is key because many people give...

Properties with a difference

Cluttons is marketing the beautiful Grade II Newbridge Mill, in Newbridge, near Witney. The outstanding property is at the edge of a Windrush with a tennis court and fishing rights. It has five bedrooms, three bathrooms, a dressing area, three reception rooms, a kitchen, a galleried study and a cloakroom. It also has a two bedroom detached stone cottage, stables, tack room, two open bay barns, and a further barn and workshop. The property comes with 34.13 acres.

The Newbridge Mill...

Opportunity on the Thames Estuary

Cluttons is selling a substantial investment opportunity on the Thames Estuary. Marshgate Farm at Cooling, near Rochester is owned by the Rochester Bridge Trust, which was founded in 1399 to build a bridge over the Medway for local residents and traders who had to travel to Maidstone to cross the river.

The trust still owns the two bridges between Strood and Rochester, which are due for replacement in 2040 and 2090. The 442 acre Grade 1 arable farm is run mainly as a strawberry...

Luxury living at a coastal fort on Alderney

Cluttons is offering a restored coastal fort on Alderney, the only Channel Island with no eligibility restrictions on property purchase, yet all the tax advantages. Fort Quesnard has been converted into 5,000 sq ft of luxury living space, surrounded by private gardens which include a former Victorian battery. The asking price of £3.175 million includes furniture, fixtures and fittings.

New £100m valuation portfolio

Acting on behalf of Insight Investment, Cluttons now provides ongoing valuation advice on a new £100 million property portfolio acquired on behalf of Insight's Clerical Medical Management Fund. The properties range from an office building in the City of London, to a distribution unit at Magna Park and several prime high street retail units.

New lease of life for Piccadilly

Cluttons has recently negotiated a building agreement with TR Property Investment Trust plc (TRPIT), Bellhouse Joseph and Standard Life on behalf of The Crown Estate for the redevelopment of 198-202 Piccadilly and 1-2 Church Place.

The property will provide a top quality mixed-use scheme, comprising two retail units with Piccadilly frontage, a single retail unit in Jermyn Street and around 55,000 sq. ft. of high quality offices above with the office entrance in Jermyn...

Prices in Central London may be falling

Prices in Central London's most prestigious neighbourhoods may be falling. Cluttons reports prices in the West End, Mayfair and the City have been stagnant since Spring and that some sellers are 'too optimistic' about asking prices. Knight Frank says prices of central London homes at £5m or more are rising as demand exceeds supply, but buyers of less expensive homes have been deterred by interest-rate rises.