Brompton Square

Part of the portfolio that we manage includes an attractive double fronted building overlooking Brompton Square in Knightsbridge.

Located immediately opposite Harrods, the building stands in a quiet oasis literally seconds’ walk from the hustle and bustle of Knightsbridge and the Harrods store.

Typical of a London Square, the building overlooks small private gardens in the centre, to which the residents have access.

One of our favourite buildings with an interesting and friendly array of leaseholders. Refurbishment to the exterior was completed in approximately 3 months, with the main challenge being access to the rear where the tight and dense developments around London Streets made access impossible without taking scaffolding up and over the building itself.

Nationwide’s latest index showed annual house price inflation has eased from 9.9% in the second quarter of 2016 (April to June) to 7.1% in the quarter July to September 2016. These were still above the national average of 5.4%. Prices have risen by 1% in the third quarter of 2016, roughly a quarter of what was achieved in the summer of 2015. London prices continue to rise quicker than the remainder of the country.

It is widely predicted however that price increases in London and the Greater London Boroughs will slow from these heights and a recent survey by Jones Lang Lasalle predicts that between 2016 and 2030 price increases per annum will be between 6.67%, the highest for the outer London Borough, to 4.67% for the City of London, basically demonstrating that there will be more price growth for the outer London Boroughs than for the inner London Boroughs which are being affected by oversupply and predicted lessening of demand as a result of Brexit. Historically high prices appear to have hit their peak and a reduction in volumes.

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Box Park has announced this week that the opening weekend will be 29th and 30th October.

While much has happened in Croydon in the past few years this is the most significant outward sign with the aim of the Box Park owners to draw people to take the 15 minute journey from town to what will be an extensive food and event location.

Box Park is to open with a music festival over the first weekend to announce the launch and tickets can be obtained from Skiddle.com or NME.com/tickets

The park will comprise 42 food outlets and a central event space and has an initial tenure of 5 years.

Retailers include The Craft Beer Co offering individual brewery beers and lagers, The award winning Breakfeast Club , MEATliquor and Chilango the Mexican restaurant as well as Dumpling specialist Mama Lan the specialist Italian deli Bread Tree and the Mayfair Lebanese restaurant LazeezTapas

The area will undoubtedly attract much attention and huge numbers of people. There will be food of all types from all over the world and the park will be open until 11pm at night.

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HNF Property has recently completed the letting of the former Penge Police Station and rear building following a major redevelopment.

HNF identified the marriage value between the redundant police station and rear buildings within our client’s ownership. We entered the tender to purchase the police station on behalf of our clients. Successfully acquiring the freehold interest.

Further assistance was provided through the planning process and consent was obtained for a conversion to provide 16 residential flats at a rent of £185,000 for 10 years.

We negotiated a full repairing lease to Kings Education on entirety to provide secure residential accommodation for their overseas students.

The property has now been refurbished to the highest standards enhancing the landmark building and ensuring its long term existence.

The deal has provided our clients with a highly secure long term investment on the original capital outlay and in addition the clients have seen a significant uplift in the capital value.

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Since Brexit reports from the property world have been gloomy, however HNF Property in Croydon is continuing to experience a lack of supply and surplus demand for both office and Industrial property.

In and around London and the south east Industrial property continues to be in short supply across the board and we have unfulfilled requirements.

Within Croydon we are seeing an increasing number of enquiries for office accommodation. Over the past few years’ office supply in the Croydon area has dwindled from 1.8 million square feet 2 to 3 years ago to approximately 300,000 square feet currently.

The Ruskin Square Development has recently secured a letting to HMRC who have taken 184,000 square feet, marketed at £35.00 per square feet.

Business is continuing to be attracted as development in the area gathers pace and the town centre undergoes a dramatic transformation which will see it regenerated to become a thriving London satellite town attractive to both occupiers and their staff.

Excellent transport links ensure good access to a skilled pool of staff and access to the city and west end in less than half an hour.