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Category: May

Newcastle’s first skyscraper marks defining moment in the city’s history

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Newcastle is soon to have its first skyscraper – the iconic Hadrian’s Tower, which will bring world-class, capital quality residences to the city. The building marks a defining moment for Newcastle’s development, just as the erection of Beetham Tower did for Manchester some 12 years ago.

Completed in 2006, at a cost of £150 million, Beetham Tower was a landmark building for Manchester. The tallest building in the UK outside of London and the highest residential building in Europe (at the time), it was seen by many as bringing Manchester into the big league in terms of its global city credentials.
From a property market perspective, Beetham Tower was also big news. Even today, the building’s iconic status means that it commands exceptional prices. Second hand sales there are reaching up to £750 per square foot. By way of comparison, new build units in Manchester are just starting to achieve £500 per square foot, meaning that Beetham Tower is achieving 150% above the best of the rest that Manchester has to offer.
Just as investors saw the potential of Beetham Tower in igniting interest in Manchester, Hadrian’s Tower in Newcastle is causing ripples of excitement within property circles. Showcased by its developers, The High Street Group, in Cannes at the MIPIM property show in March, the building has catapulted Newcastle to the attention of investors from around the globe. It will become Newcastle’s tallest building by a considerable margin, standing 82 metres tall and housing 27 storeys.
Surrenden Invest Newcastle Skyscraper
The Romans built the first bridge across the River Tyne at Newcastle nearly 2,000 years ago. Now, Hadrian’s Tower continues that spirit of proud ambition, taking the city to the next level just as that very first bridge did.
Expectations are certainly high for Hadrian’s Tower. At present, the priciest new builds can be found in the Gosforth area of the city, where they command up to around £450 per square foot. We anticipate that Hadrian’s Tower will emulate the impact of Beetham Tower in Manchester just over a decade ago, pushing price boundaries in Newcastle closer to £500 per square foot.
Newcastle already has so much to offer in terms of its credentials as a world-class city. The city is awash with culture and history, while its retail, dining and nightlife offering draws in crowds from across the North East and beyond. The skyline is already home to some stunning buildings and Hadrian’s Tower will elevate it to the next level. It’s a really special moment in Newcastle’s evolution.

For further details email us at: info@surrendeninvest.com or call us on: 0203 3726 499

Surrenden Invest takes pole position as primary sponsor of British racing driver Nick Yelloly

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Combining his passion for motorsports with his respect for those who follow their dreams, Jonathan Stephens of leading property investment agency Surrenden Invest last year announced that his company was sponsoring promising racing driver Nick Yelloly.

Now, Jonathan has announced that Surrenden Invest will be the main sponsor backing Nick’s championship hopes for the 2018 season as well. Nick is racing in the Porsche Mobil 1 Supercup, which started the new season in style in Barcelona over the weekend of 11-13 May. Having worked his way up from racing karts at the tender age of 15, Nick raced in the Porsche Carrera Cup Germany last season, racking up three wins and eight podium positions across the cup’s 14 races. Now, he’s taking to Europe for the 2018 Porsche Mobil 1 Supercup, racing across the continent before heading over to Mexico for the season’s grand finale.

“It was a real privilege to sponsor such a talented driver and to see Nick flourish in Germany last year, so I’m delighted that he has accepted Surrenden Invest as his main sponsor as he tours Europe and South America this summer. Nurturing young talent in this way is a key part of keeping the racing industry alive. Having followed my own entrepreneurial vision from a young age, it’s fantastic to be able to support others in doing so.”

Jonathan Stephens, Managing Director, Surrenden Invest
With the Porsche Mobil 1 Supercup underway, Nick’s hopes are high. The determined young driver is raring to go, with his sights set on fighting for the championship win in 2018. Boasting more crowds and greater hype than the Porsche Carrera Cup Germany, the Porsche Mobil 1 Supercup delivers an outstanding atmosphere. It also delivers greater exposure to sponsors, which to Nick is an important factor.

“Racing as we know and love it would simply not be possible without sponsorship; the industry as a whole owes so much to its sponsors. For me personally, Surrenden Invest’s sponsorship is allowing me to live my dream and be the best driver that I can be – I wouldn’t be able to race in a top team without this kind of funding. However, there’s also the personal element of the support – Jonathan was out in Barcelona this weekend, and plans to be in Monaco for the second race of the season.”

Nick Yelloly
The Monaco circuit is a firm favourite with many racing drivers and Nick is no exception. Silverstone also makes for a very special race, in part because of its legendary status and in part because, living just 40 minutes away, Nick always has plenty of hometown support behind him when he races there. Surrenden Invest’s Jonathan Stephens intends to be among those cheering Nick on.

““The race day atmosphere is always an electric one, and having a vested interest in seeing Nick drive makes it even more exciting. Surrenden Invest is proud to be a young, aspiring company sponsoring a young, aspiring driver – there’s a real synergy there, and we wish Nick every success for the coming season.”

Jonathan Stephens, Managing Director, Surrenden Invest

For further details email us at: info@surrendeninvest.com or call us on: 0203 3726 499

Surrenden Invest partners with David Phillips to offer residents and property investors a superior living experience

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As the UK’s residential property market matures, leading developers and agents are forming new partnerships in order to drive up standards for both residents and investors.

“Investors used to be happy to purchase unfurnished apartments, but we’re seeing a maturation of investor interest. Properties that make being an investor/landlord easier have the edge over those that don’t. At the same time, those properties need to offer something exciting and fresh to tenants to make them stand out. These considerations are driving developers to innovate not just in the design and facilities of their buildings, but also in terms of the additional extras.”

Jonathan Stephens, Managing Director, Surrenden Invest
Furnishings are the perfect example. There was a time, not so long ago, when investing in a property meant buying an apartment, then arranging how to furnish it in order to appeal to tenants while not spending any more than was necessary. Now, increasingly, developers are connecting with professional furniture companies in order to offer investors (and tenants) a more complete package.
The Tannery in Liverpool is one such example. Apartments within the new luxury development are available with David Phillips furniture packages. The bespoke furniture packs have been created to suit the particular style, location and aspirational image of The Tannery, setting a tone that perfectly suits the property and those who will live there.

“As the UK’s largest and most design-led furniture provider, David Phillips are absolutely delighted to be working in partnership with Surrenden Invest. We have put together an exclusive furniture collection completely bespoke to The Tannery development. We are tasked with not only providing your furniture but augmenting your environment and lifestyle through award-winning services, honed through nearly two decades of experience.”

Alistair Dickson, Head of Residential Sales (North), David Phillips
It’s a winning situation for all concerned. The property is less hassle for investors who can purchase turnkey, ready-to-rent properties meanwhile residents can enjoy living in a professionally styled home from the moment they move in.
As the rental market comes of age, the nature of furniture packs is also changing. Standards are being raised, with packages including far more than just the essentials. Framed prints, mirrors, luxury linens and kitchen packs are all becoming increasingly common.
Contemporary residents are often sold on the idea of the show home at new build developments and an increasing number of them expect to enjoy a similar standard of furnishing in their own apartment.

“The days of landlords furnishing their rental apartments with odd bits of furniture that they no longer have a use for in their main residence are long gone. Investors and tenants are both seeking a complete package now – and that includes premium furniture and soft furnishings. That’s why partnerships with companies such as David Phillips have become essential for those developers who are looking to remain at the forefront of the market.”

Jonathan Stephens, Managing Director, Surrenden Invest

For further details email us at: info@surrendeninvest.com or call us on: 0203 3726 499

Waterside living standards reach new heights in Manchester, while rents rise across the North West

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Office for National Statistics (ONS) figures have revealed that annual rental prices in the North West of England increased by 1.3% in the year to September 2017. However, rents aren’t the only thing going up in the North West – accommodation standards have rocketed in recent years, as highlighted by the freshly completed Wilburn Basin development.

The development offers an unrivalled standard of accommodation. It has elevated waterside living in Manchester to the next level. The quality of the interiors is second to none and we’re delighted to see such a contemporary and stylish property added to the rental offering in this exciting city market.
We recently spoke with Richard Lynch of Renaker Build Limited, the developers of Wilburn Basin. He has shared why it was important to provide such standout accommodation for Manchester’s rental market.

Wilburn Basin is clearly finished to a very high specification. Why did you feel that such internal quality was important for this development?

We take a pride in the quality of finish in each apartment within all of our schemes. Wilburn Basin was no exception. We do tend to see improvements in a chronological fashion with each development and it was important to us to ensure Wilburn Basin was a step up from recently completed developments we have in the city.

What is the overall vision for the interior of Wilburn Basin?

We wanted to create a space where residents would want to spend time. There are too many developments out there where the entrance is no more than a lift lobby and in many cases the space is simply uninviting. We try to create a space which gives residents a sense of arrival and which sets us apart from other developers.

A great deal of attention has been paid to the communal areas. Why did you feel this was important to focus on?

Wilburn Basin benefits from a fairly extensive footprint, spanning three acres of river frontage. The communal areas have been carefully planned to create a feeling of open space and usable green areas to assist in creating a community.

Why did you choose certain brands within the apartments?

Specifying high-end brands such as V& B and Porcelanosa means we can deliver a better specified and finished product at a better price than our competitors.

Are there any other noteworthy brands featured in the development?

Certainly! We’ve included Bosch appliances, Hansgrohe brassware and provision for BT, Sky, Virgin and Hyperoptic. Whilst many other features and fittings within the apartments and communal areas aren’t necessarily from recognised brands, all have been chosen for their quality and aesthetics.

Did you appoint an interior designer to style and dress the development?

Vivo Interiors (local to Manchester) dressed both the show apartment and communal areas. Planting within the blocks was undertaken by Urban Planters. Meanwhile the lighting scheme – a feature of the main reception area and the entrance lobby to Block A – was designed by Troup Bywaters & Anders.

Do you feel that the standards expected today, in terms of interior design and finish, is higher today?

The level expected from owners has certainly risen. Features such as cinema rooms, fitness centres and business centres are now expected by both investors and tenants.

How much value do you feel the interiors of Wilburn Basin add to the development?

The interior finish of Wilburn Basin, both in terms of the apartment interiors and the communal areas, certainly falls into the luxury category. This adds significant value to the scheme.

For further details email us at: info@surrendeninvest.com or call us on: 0203 3726 499

Mayor Andy Burnham is great news for the Manchester property market

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In 4th May 2017, Andy Burnham was elected the first metro mayor of Greater Manchester. He received strong support from the Greater Manchester Combined Authority, winning 63 per cent of the vote. He is now the leader of the devolved city region, and therefore responsible for housing, strategic planning, and transport.

Andy Burnham’s position as Mayor of Greater Manchester will see him become a key figurehead for a major city in the Northern Powerhouse. He will lead a cabinet of 10 council leaders who will be tasked with steering the city towards new growth, while also providing Greater Manchester with a stronger voice on the national political stage. He will also act as ambassador for international trade relations. At a time when house building is high on the political agenda, we can expect some exciting changes in the forthcoming years.

A New Planning Framework

Andy Burnham is now responsible for creating a new property development strategy, also known as a spatial framework, to meet Manchester’s growing housing needs. As a devolved city, he will have greater planning freedoms which will aid investment and development across Greater Manchester, although the city’s 10 council leaders will all need to also approve recommendations.

More New Housing On The Horizon

In addition to steering housing policy in the region, the new mayor will also have the power to purchase areas of land for urban regeneration and development. Again, council leaders will need to be in agreement. Planning approval for development should therefore be easier achieve, along with reduced timescales.

More Control Over Funding For Transport Infrastructure

Andy Burnham will be responsible for managing the Government fund allocated to the development of new transport infrastructure over the next 30 years, which means his team will chose how Manchester’s transport network will evolve. Options include extending the Metrolink, improving the bus network and the creation of new rail stations, to improve connections between central Manchester and the cities of Greater Manchester. These changes and improvements will aid the economic growth of the region.
Greater Manchester, with Andy Burnham as metro mayor, will now have far more control over how funding is used, and who invests in major developments. The mayor will also manage specific investment for Greater Manchester’s metropolitan boroughs to ensure that the whole region benefits from inward investment. This will make the region more appealing internationally, which is good news for property investment.
We can expect Manchester’s property industry to receive more inward investment, which will boost the development of the city. Greater Manchester’s economic growth and property expansion looks to be in good hands.

The Changing Birmingham Property Market in 2017

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Birmingham has changed more in the past 30 years than just about any other city in the UK, and regeneration and development is showing no signs of slowing down. New areas of the city are being opened up, leading to positive changes across the region.

Commercial Developments

Birmingham’s central business district and core office market have received significant investment over the last 5 years. Modern office space is attracting new businesses to the city, including some of the UK’s biggest financial institutions, such as HSBC and Deutsche Bank. Demand is growing in Birmingham, and combined with the increase in high-quality office space, we can expect to see rents increase to £35 per sq ft by the end of next year, which is excellent news for Birmingham property investors.

TMT Growth in the City

Birmingham is seeing highest demand from Technology, Media and Telecoms (TMT), which now represents around 20% of all new property deals. We are also expecting to see growth from the Fin Tech, Media and Biomedical sectors, and this will lead to a rise in professional and financial services.

Investment

Although the Brexit referendum has slowed business slightly, demand was already running at unprecedented levels and the occupier market continues to hold steady. Yields for prime office space should stay at around 5.25%. Birmingham continues to attract significant overseas investment, which is generating increased demand.

Residential Investments

Birmingham is attracting buyers from London who tend to have higher expectations. As a result, developers are building higher quality apartments and taking more care to create more desirable environments around developments. Birmingham’s build-to-rent sector is expected to supply 55 new units every year in the city centre by 2020, placing Birmingham as the country’s leading Build-to-Rent investment zone.
Birmingham’s demographics are also changing, with a growing younger population, attracted by the affordable housing market and improved career opportunities. There are around 1900 international businesses in Birmingham, and the city boasts the largest professional service sector outside of London.

Prime Value Set To Rise To £500 Per Foot by 2020

Birmingham’s commercial and residential hotspots are being supported by infrastructure improvements and city centre regeneration, which is making the city more appealing to businesses and families alike. We predict that rising demand will push prices to £500 per square foot in prime city locations, making Birmingham ripe for investment.