Prop-arazzi

After the Budget yesterday here is a run down of the Government’s forthcoming announcements. Does anything here impact on you, your business, your outlook, if so please make sure you get in contact with us at Weber Shandwick Property - the leading property communications team in the UK and Ireland.

Coming Up:

Sale and rent-back market
The Office of Fair Trading will lead a study of the market this year, focusing on consumers’ experience of these arrangements, and consider options to strengthen consumer protections

Regional strategy
The government will shortly consult on bringing together the Regional Economic Strategy (RES) and Regional Spatial Strategy (RSS) into a single strategy setting out housing plans alongside wider economic, social and environmental objectives

Brownfield land
The government is introducing measures to reform the tax incentives for developing brownfield land to make them more environmentally sustainable. The government will consult on draft legislation in the summer (Red book, Chapter 5, pg 86, 5.40).

Zero carbon buildings
The government sets out an ambition for all new non-domestic buildings to be zero carbon from 2019. The government will consult this year on the timeline for this ambition and its feasibility, and review progress in 2013. (Red book, chapter 1, pg 7, 1.17) and

Green Homes Forum
In order to support effective delivery and to harness the enthusiasm and expertise of community groups and other interested parties, the government will convene a Green Homes Forum in the autumn. The government is also interested in exploring what more can be done to raise awareness amongst the public of the ways and benefits of improving domestic energy efficiency.

Zero-carbon homes
The government will set out the definition for a zero-carbon home for the purposes of the 2016 ambition by the end of 2008, following a consultation in summer

Building allowances
Legislation will be introduced in Finance Bill 2008 to give effect to changes relating to industrial building allowances, enterprise zone allowances and agricultural buildings allowances 

Relief for zero-carbon flats
Legislation will be introduced to extend SDLT relief to cover new zero carbon flats

Notification and rate thresholds
Legislation will be introduced to change the rules for persons notifying HMRC about land transactions. The “£600 rule” will also be changed and, from later this year, agents will be allowed to sign declarations in the certificate that no stamp duty land tax (SDLT) is due
 
Anti-avoidance legislation affecting partnerships
Legislation will be introduced to amend provisions to ensure that, where there is a transfer of an interest in a property within an investment partnership, there will be no charge to SDLT

House prices indices
The government will work with industry to investigate the possibilities for the development of detailed house price indices which would help the development of insurance on house price movements

With Cheltenham rained off until tomorrow we thought we would have a quick listen into today’s activity at the House of Commons, and what do you know - IT’S BUDGET DAY. Making his first Budget speech to the House, Chancellor Darling outlined the following with reference to the housing and property sector. He said:

• ‘The Government will spend £8 billion on new, affordable and social housing over the next 3 years. This will enable the Housing Corporation to deliver 70,000 affordable new homes each year by 2010/11
• From this April, key workers and first time buyers will be able to borrow money from new shared equity schemes
• Stamp duty on shared ownership homes will not be required until buyers own 80% of the equity in their home
• Following today’s publication of the review of housing finance in the UK, the Government will seek how they can deliver the right framework for the UK to achieve affordable, long-term fixed rate mortgages. The Chancellor will report back at the Pre-Budget Report
• The Government is committed to building 3 million more homes by 2020. Sites for 70,000 more homes have been identified’.

Come back soon for the fall out and reaction to the Budget…
Give us a call if you would like the full SP on the Budget on 020 7067 0000 or log on to www.wsknowledgeshop.com

This Thursday Belfast will have another striking feature added to its increasingly spiked skyline with the addition of an amazing 45m high latticed glass dome which will sit atop the highly anticipated £400m landmark Victoria Square development.

With 98 stores over three floors, up to 20 bars, cafes and restaurants, 1,000 parking spaces, a 1,800-seat cinema and 106 apartments, Victoria Square offers retail, leisure and living all in one space it will provide over 3,000 new jobs according to one of the leading Belfast newspapers.

Here at Prop-a we have had a detailed look at the artitst impressions and from what we have witnessed is that the mixed use retail and residential merges seemlessly in what is beyond doubt Belfast’s new premier shopping district.

It would not be right if we did not mention the media coverage of the new development and the build up PR which has been textbook and has grabbed the attention of an increasingly salivating public in the run up to the VIP opening this Wednesday and the grand public unveiling on Thursday. Best of luck to the guys behind the curtain pull and congratulations on a job well done!