Archive: Uncategorised (5)

HNF Property are pleased to announce that they are now undertaking surveys of both residential and commercial properties on behalf of clients.


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On residential property, we are now not only able to undertake a valuation but we can provide Type 1 and Type 2 Homebuyers’ Reports, Structural Surveys and reports on individual defects, if required.

For commercial clients, we can also undertake Structural Surveys and, in addition, we are now able to prepare Schedules of Condition and can prepare and negotiate on Schedules of Dilapidations. Reports and schedules can be prepared independently or as part of an overall negotiation from instruction to settlement.

Our reports provide straightforward no-nonsense advice dependent on the type of Survey chosen reports can be accompanied by photographic evidence enabling the client to see and easily understand our findings and advice.

Tailored to the specific purpose and client, reports can incorporate rental valuation, capital valuation and advice on lease terms, liabilities, etc.

For further information and fee quotes, contact J A Naylor MRICS on 020 8766 0123.

Modular construction is becoming increasingly common in the UK and enables the quick and economical construction of large residential or commercial projects using off-site prefabricated units, or modules, complete with electric and plumbing services, furniture and windows.

Over the last few months it has been hard to miss the rapid rise of the two towers at 101 George Street which now dominate East Croydon’s skyline. As a result of a joint venture between Greystar and Henderson Park, the finished towers will reach 44 and 38 storeys respectively and will, on completion, be the largest modular buildings in the world. The complex will contain an art gallery, roof gardens and a hub for local businesses and is expected to be complete in 2020.

The construction time, for this project, is expected to take only 24 months and the finished project will comprise 550 residential units. The modules are constructed in a factory in Bedford and then transported to site to be lifted into place by crane.
Greystar claim that the modules are produced using up to 80% less waste than the traditional alternative. The speed of construction and prefabricated nature of the units allows for a minimum period between off plan purchase and the property being ready for occupation, perfect for the investor.
This project is not the only modular development in Croydon, the construction of a 21-storey building on Addiscombe Road is set to be completed in Spring 2020 and will offer over 300 units with 153 affordable homes. Planning permission has also been granted for two further 24 and 26 storey towers on Dingwall and Wellesley Road. These projects form part of a wider renaissance in Croydon with the ongoing Ruskin Square development, renovation of the Fairfield Halls and the planned expansion of Crystal Palace football stadium.

Approximately 3 years ago a fairly straightforward crack appeared in a building that we manage and investigation concluded it to be subsidence which required rectification.

Work was undertaken to stabilise the building and repair internal damage, both to the common parts and leaseholders’ individual flats.

The fly in the ointment turned out to be the presence of a railway line within 20 metres of the side wall of the block. There was a large crack in this wall and some disturbance of brickwork and misalignment and work on the exterior was essential to complete the project.

The problem was that the railway line in question was a main railway line on which freight runs to and from Europe on a 24 hour a day basis. The proximity of that block to the railway line meant that there were potential issues with electric arc-ing (it was an electrified line) and in addition, there were concerns about the loading of the scaffolding that we were to erect on the railway embankment.

We were drawn into a world of negotiation with Network Rail, the like of which we have never seen before where design after design of scaffolding was submitted and refused consent until ultimately, we were able to design a scaffolding that could hang from the roof. The issue of arc-ing and security was paramount and we had to confirm that there would be 24-hour security on the site to prevent trespass, exceptionally strict controls of personnel and an enclosure to the scaffolding to ensure that no debris, tools, etc. could fall.

Eventually it was decided that the railway would have to be shut but the immense disruption costing hundreds of millions of pounds that this entails that Network Rail will not usually shut the railway unless there is an emergency. They do however have a number of built in slots within which they can facilitate work.

What should have been a straightforward job over one week thus extended to six months of seven-hour possessions from midnight from midnight on Saturday to 7:00 in the morning. Much of this time is taken up in ensuring that the health and safety requirements to commence work and close work are completed.

It looks like the work will now be completed by the summer and the block will be, once more, without issue – all in the day of a managing agent.

 

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.

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.