Battersea Power Station is being offered for sale on the open market for the first time reports the BBC.
It is hoped the sale, to be handled by estate agent Knight Frank, will cover the £502m debts accrued by a firm which tried to redevelop the landmark site.The 39-acre property is on the Thames and a new public park is planned there.
Chancellor George Osborne has confirmed government backing for plans to extend the London Underground's Northern Line into the heart of the area.The Grade II listed building opened in 1933 and generated power until 1983.As such any building work would require listed building consent - even minor works, such as painting.
It was acquired by Real Estate Opportunities, the majority owner of the holding company, in 2006. Last year its debts on the project were called in by creditors.
Tuesday, 28 February 2012
Tuesday, 21 February 2012
Pimlico Apartment for Rent, Grosvenor Road
Pimlico Flats & Houses For Sale & Rent: Pimlico Apartment for Rent, Grosvenor Road: Grosvenor Road, Pimlico, London, SW1V £1500 pw A magnificent three double bedroom three bathroom luxury penthouse (third floor) apartment with sensational views overlooking the River Thames and London's most famous landmarks such as St. George's Wharf and Battersea.
Friday, 10 February 2012
Battersea Benefits from The Northern Line Extension
Batteresea is finally going to have its place on the Tube Map.The Northern Line Extension (NLE) will improve transport capacity throughout the Vauxhall Nine Elms area with stops at Wandsworth Road and Battersea Power Station. It will also relieve pressure at Vauxhall station.
Battersea Power Station would become the focus for a new town centre with 66,000 square metres of retail, restaurant and cafe space - more than Clapham Junction and Wandsworth town centres.
The extension of the Northern line improves public transport capacity and accessibility between central London and the Nine Elms area. It will:
1. Deliver improved public transport to an area of major change and regeneration projects.
2. Bring new homes, jobs, businesses, shops and community facilities to an underused part of central London;
3. Improve public transport for 15,000 existing households, reduce reliance on the car and reduce pressure on Vauxhall Underground station; and
4. Create a new public transport link, connecting VNEB directly to the rest of central London, less than 15 minutes from the West End and the City
Leader of Wandsworth Council Ravi Govindia said:
"This is great news for London and huge victory for the council and its partners. The Northern Line Extension is the key to unlocking development throughout Nine Elms and Vauxhall. It will help create 16,000 new homes, 25,000 jobs and deliver billions in growth for the wider economy."
London Local News
Battersea Power Station would become the focus for a new town centre with 66,000 square metres of retail, restaurant and cafe space - more than Clapham Junction and Wandsworth town centres.
The extension of the Northern line improves public transport capacity and accessibility between central London and the Nine Elms area. It will:
1. Deliver improved public transport to an area of major change and regeneration projects.
2. Bring new homes, jobs, businesses, shops and community facilities to an underused part of central London;
3. Improve public transport for 15,000 existing households, reduce reliance on the car and reduce pressure on Vauxhall Underground station; and
4. Create a new public transport link, connecting VNEB directly to the rest of central London, less than 15 minutes from the West End and the City
Leader of Wandsworth Council Ravi Govindia said:
"This is great news for London and huge victory for the council and its partners. The Northern Line Extension is the key to unlocking development throughout Nine Elms and Vauxhall. It will help create 16,000 new homes, 25,000 jobs and deliver billions in growth for the wider economy."
London Local News
Wednesday, 25 January 2012
Repossessions Likely to Rise in 2012
Victoria Flats & Houses For Sale & Rent: Property Repossessions Likely to Rise in 2012: This year is likely to see a rise in the number of people having their homes repossessed. According to the Council of Mortgage Lenders (CM...
Tuesday, 10 January 2012
House Prices Drop in December According to Halifax
A slight drop in house prices in December of 0.9 per cent took the overall drop across 2011 to 1.3 per cent, according to data from Halifax.
The bank's property index suggested that the housing market had remained surprisingly resilient in the past year and hinted at a broadly stable 2012 ahead.
The average house price at the end of 2011 stood at £160,063.
"If the UK can avoid recession, we expect broad stability in house prices in 2012," said Halifax housing economist Martin Ellis.
"There is, however, considerable uncertainty regarding the prospects for the UK economy, which will, to a large extent, depend on how events in the eurozone unfold."
While Halifax's data shows a drop in house prices across 2011 a similar report from Nationwide suggested they had increased by one per cent, highlighting just how resilient the market was in the past 12 months.
Nationwide placed the average house price at the end of 2011 at £165,798.
London Property News
The bank's property index suggested that the housing market had remained surprisingly resilient in the past year and hinted at a broadly stable 2012 ahead.
The average house price at the end of 2011 stood at £160,063.
"If the UK can avoid recession, we expect broad stability in house prices in 2012," said Halifax housing economist Martin Ellis.
"There is, however, considerable uncertainty regarding the prospects for the UK economy, which will, to a large extent, depend on how events in the eurozone unfold."
While Halifax's data shows a drop in house prices across 2011 a similar report from Nationwide suggested they had increased by one per cent, highlighting just how resilient the market was in the past 12 months.
Nationwide placed the average house price at the end of 2011 at £165,798.
London Property News
Saturday, 17 December 2011
Rental Property Demand Exceeds Availablilty
Figures released today by the Council of Mortgage Lenders (CML) show that the buy to let market is still strong.According to the body, mortgage loans to landlords increased by 16 per cent in the third quarter of this year.
Over the same three-month period, the amount of money loaned by financial institutions for property investment rose by 19 per cent, showing that banks and building societies are regaining their confidence in the buy to let sector.
A total of 34,500 buy to let mortgage advances were made in the quarter totalling an incredible £3.2 billion. It is the highest buy to let lending as stood since the onset of the credit crunch in 2008.
CML director general, Paul Smee, stated: "With tenant demand remaining strong in the rental sector, some existing buy-to-let landlords have been expanding their portfolios and the growth that returned to the sector in the preceding quarter has continued.”
Mark Durban, senior lettings agent at Paramount, said recently that at present the demand for rental property is so high that it exceeds the number of homes available.
Buy to Let Investment News
Over the same three-month period, the amount of money loaned by financial institutions for property investment rose by 19 per cent, showing that banks and building societies are regaining their confidence in the buy to let sector.
A total of 34,500 buy to let mortgage advances were made in the quarter totalling an incredible £3.2 billion. It is the highest buy to let lending as stood since the onset of the credit crunch in 2008.
CML director general, Paul Smee, stated: "With tenant demand remaining strong in the rental sector, some existing buy-to-let landlords have been expanding their portfolios and the growth that returned to the sector in the preceding quarter has continued.”
Mark Durban, senior lettings agent at Paramount, said recently that at present the demand for rental property is so high that it exceeds the number of homes available.
Buy to Let Investment News
Thursday, 15 December 2011
RICS; Demand for Property Rose in November
City of London Flats & Houses For Sale & Rent: RICS; Demand for Property Rose in November: Demand for property rose yet again in November according to the latest UK Housing Market survey from the Royal Institution of Chartered Sur...
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