Latest News
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BPF calls for REITs change in the Budget
Published: 2009-11-30 10:03:06
The British Property Federation (BPF) wants REITS (real estate investment trusts) to be allowed to count stock dividends towards their 90 per cent income requirements. The BPF is lobbying the Treasury to enable the change in the upcoming pre-Budget report.
Claiming this would not cost the Government any money, the BPF believes balance sheets would be stronger and more investors would be attracted to use these vehicles. read more
Aylesbury and Akeman in LABV scheme
Published: 2009-11-30 09:57:39
Aylesbury Vale District Council in Buckinghamshire is setting up a local asset-backed vehicle (LABV) with Akeman Investment to manage a large number of council properties alongside an ambitious programme of new developments.
The council’s commercial and industrial estate portfolio will be transferred into the LABV, together with shops, offices and development sites in the area. read more
LDA plans London-wide housing company
Published: 2009-11-30 09:52:33
The London Development Agency (LDA) plans a new London-wide housing company to bring forward land for development in a more cost-effective way than could be done by the London boroughs and other public sector landowners on their own.
Although still at an early stage, the idea is to take the already established asset-backed models (LHC and LABV) and create a vehicle that would be open to all 33 London boroughs. read more
Boris Johnson’s boost for affordable housing
Published: 2009-11-30 09:49:26
London’s housing market is to receive a boost from a recent initiative by the Greater London Authority (GLA) and London Development Agency (LDA).
Boris Johnson, Mayor of London, used his Housing Investment Summit to announce that more than 30,000 new homes could be built in the capital on under-used land owned by the GLA.
Johnson wants an audit to be carried out of land across the GLA, including Transport for London and the London Fire and Emergency Planning Authority.
Potential development sites will be identified and outside investors invited to join the GLA as shareholders in housing schemes from which future profits would be re-invested in affordable housing for the capital. read more
Governemnt boost council house building
Published: 2009-09-22 09:14:26
The government has authorised £127 million funding to build over 2,000 new council homes across the country. Involving 47 local authorities, this is the biggest council house building programme for almost 20 years and is designed to be match-funded to provide a total investment of over £250 million. The bidding process requires new developments to meet specific local needs, to be able to begin construction before March 2010 and to be entirely composed of homes for rent.
Only four councils submitting bids were turned down and they are going to work with the Home and Communities Agency (HCA) to resubmit either later this autumn or in a second round next year. read more
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