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Superb Investment Opportunity on the North Wales Coast

This 8 bed house is a perfect investment opportunity.

Set over 4 floors, with 2 kitchens and 4 bathrooms, this property includes a 2 bed self-contained basement flat.

Just 5 miles from the historic Conwy Castle and with beach views.

Asking price £285,000

Call our office on 0151 200 2102 for more information

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Will your property pass the new MEES energy test?

There are now only six months until the new Minimum Energy Efficiency Standards (MEES) are implemented. This sweeping change due in April 2018 will rule out any new or renewed leases on commercial property with an Energy Performance Certificate (EPC) rating of F or G.

Time is running out and landlords with commercial portfolios would be well advised to prepare carefully, or risk losing out on significant amounts of rental income.

Below are some key tips to help protect you from inadvertently allowing your property to become ‘unrentable’.

Organising a well-maintained property database

    Having a comprehensive and accurate property asset list, including a detailed record of current EPCs, is invaluable when it comes to compliance with MEES legislation.

    Open communications with all parties involved in changes to your portfolios will help you to keep on top of your assets. This way you are fully aware of assets that are being sold, refurbished or tenanted.

    Keeping a stringent log of tenant movements will result in an asset list that can quickly and easily be referred to for accurate and current data. This will reduce time and resource required to draw information from multiple sources and avoid any duplication of effort required to collate the data.

    It is essential that good EPC records are kept. They should detail the EPC rating, date of expiry and EPC address, which is often different from the addresses known to property management teams. It is worth remembering that EPC’s can be commissioned by any individual. A tenant may have authorised a new EPC since the landlord last ordered one.

    Reassess EPC ratings

    An EPC is based on the characteristics of a building and its services (such as heating, ventilation, air conditioning and lighting). As such, energy assessors often do not have detailed and updated information about a property.

    As a result, they need to gather as much information as possible during their EPC site assessment visit, modelling their findings before determining the EPC asset rating. With time constraints and a lack of readily available information, existing EPC’s are often based on assumptions, conventions and default settings. These will represent worst case scenarios. They often do not provide an accurate representation of the current building status.

    Before refurbishing a property with an EPC that is currently considered sub-standard, we would recommend that its building energy model is re-assessed to eliminate as many estimates as possible and improve the EPC rating.

    Don’t limit your analysis

      There are a number of additional factors you should consider to ensure a comprehensive understanding of your risk exposure:

        Listed Building status.

      Despite popular belief, listed buildings are not exempt from EPC legislation. In fact, they are likely to fall within EPC F and G bands because of their poor fabric specifications in terms of energy performance (single glazing, uninsulated walls etc).

        E-rated EPC buildings.

      EPC’s are linked to the UK Building Regulations, Part L, which are regularly updated and become more and more stringent each time they are revised. Hence previous EPC’s, whose Asset Ratings were E, may fall within the F & G categories once their 10 years validity period has expired.

        Rental Values.

      If refurbishment works are abandoned in favour of offering sub-standard properties, landlords will not be permitted to market buildings with a subsequent loss of rental income. The rental value per annum, per square metre, should be taken into account in order to undertake suitable risk assessments and prioritise remedial actions.

      Two birds with one stone

      Many owners are unsure about their exposure to MEES compliance risk. That’s why undertaking a desktop review is vital. You can also save time and money by simultaneously commissioning reviews of additional environmental compliance risks when third-parties are involved in determining MEES risk exposure.

      For example, ever changing climatic conditions often reassert the importance of understanding flood risk. Property owners therefore need to understand their risk exposure to reduce business threats and develop action plans for guaranteed business continuity.

      MEES however provides the perfect opportunity to ask further questions about the environmental legislation agenda. Property environmental compliance risk exists in many areas including air conditioning inspections (ACIs), ESOS energy audits and asbestos registers among others.

      On top of providing a valuable assessment of regulatory and non-mandatory environmental risks, high level reviews also highlight opportunities, like solar PV installation, that impact on the wider business.

      Plan ahead to ensure leases provide protection

      You must consider the risk that a tenant could carry out works that may lower the EPC rating, thereby affecting re-letting once the property becomes vacant. Whenever the opportunity arises, owners should be looking to introduce provisions against the tenant carrying out alterations thatadversely affect energy performance. You may also wish to restrict the tenant’s ability to commission its own EPC, as this would invalidate the existing certificate.

      At the same time, the new regulations are also an opportunity for greater engagement with tenants through the use of green leases. A green lease is a standard form lease with additional clauses included which provide for the management and improvement of the environmental performance of a building. Both owner and occupier can agree carbon, energy, waste and water reduction strategies which best fit with the circumstances of individual properties.

      Conclusion

    Using some or all of these strategies, landlords can safeguard themselves and their portfolios ahead of MEES – and potentially ensure not only that they are scraping by for compliance, but that they are leading the way in terms of property and asset management, and demonstrating the value of this attitude when it comes to environmental protection.There are now only six months until the new Minimum Energy Efficiency Standards (MEES) are implemented – a sweeping change due in April 2018, that will rule out any new or renewed leases on commercial property with an Energy Performance Certificate (EPC) rating of F or G.

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Merseyside tops Property Investment league table

I post regularly on some national blogs, and have included a copy below of something that affects all local investors.  It is a map showing likely investment returns for all areas of England, and Liverpool has done well as expected.  However, my gripe was with the mapping which put Wirral in with Clwyd for some reason.  Extracting this and combining all Merseyside as one entity puts our area firmly at the top of the table.  A link to the original post is below, with my comments under this.

https://www.lettingagenttoday.co.uk/breaking-news/2016/5/revealed–where-the-highest-rental-yields-will-be-in-2020-apparently

 

Interesting article. My only complaint is with whoever drew up the mapping and their reasons for drawing the boundaries as they did. My area of interest is Merseyside and North Wales and so took particular note of this part of the map. Three points to note are:

1. Wirral is part of Merseyside and should have been included within their boundary, not Clwyd. Wirral currently has some of the highest yields of anywhere in the country, even higher than Liverpool. Inclusion of Wirral within the Liverpool map would have pushed Merseyside to the very top of the returns table. Prices in Wirral are some 10- 15% lower across the range than comparables in Liverpool, but rents are almost identical for all property types outside the immediate Liverpool city centre area.

2. Wirral will be included within the area of the Merseyside metropolitan area under control of the new Metro Mayor from next year. So far, so dull. However, Wirral will then be subject to the policies of new Mayor, with devolved powers that affect housing, transport and inward investment. The Mayor is likely to be Joe Anderson, the current Labour party Mayor of Liverpool. You may or may not like some of his policies but he has a good track record of leveraging in funds for the city region. His policies for housing and transport in particular look credible, and he has a very good track record of representing the Liverpool region on the international stage, bring in more investment.

3. There are huge programmes of infrastructure improvements and inward investment on both sides of the Mersey that should push values on at pace equally in Liverpool and Wirral. These are being instigated by Peel Group (owners of pretty much the whole of both banks of the River Mersey) under the banners of Liverpool Waters and Wirral Waters. House prices do not yet reflect these major upcoming changes and so yields will remain high in the medium term until prices reflect these improvements to the Mersey basin area.

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Property Investor Show April 2016 – Hamilton Square Estates, CH41 Wirral, UK

Invest Northwest Seminar - Hamilton Square EstatesHamilton Square Estates recently attended the Property Investor Show at London ExCel and were overwhelmed by the interest shown in our seminar on “Invest Northwest” and at our Stand in the main Exhibition Hall.

Over 200 delegates attended our seminar, with many having to stand, and the general consensus of the audience was the amazement at the exciting infrastructure and property projects already completed and planned in the Northwest. The presentation describes many of these projects, provides an overview of the region, and identifies some of the considerations in investing in the area. This presentation is available to view and download here: [button link=”https://hamiltonsquareestates.com/wp-content/uploads/2016/04/Seminar-Presentation-Pack.pdf” target=”_blank” arrow=”button”]Seminar Presentation[/button]

 

Hamilton Square Estates - Stand 1Our stand had a constant flow of visitors throughout the two days with over 100 delegates registering their interest in Hamilton Square Estates and our extensive services.

Our brochure is also available to view and download here: [button link=”https://hamiltonsquareestates.com/wp-content/uploads/2016/04/Brochure-v4.2-FINAL.pdf” target=”_blank” arrow=”button”]Brochure[/button]