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Old June 7th, 2010, 07:13 PM   #41
gothicform
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The problem is each and every developer has bought land at astronomical prices expecting selling flats for astronomical prices. If they don't sell a 1 bed flat for £400k they'll make a loss. So they wait. Or more accurately they wait for finance.
which if people read the RNS from quintain last week they would see they are doing in an unusual way. they are expanding massively their fund management business to provide profits that can then be invested in property so they don't have to borrow money. it'll make them one of the first of the bigger property companies to not be reliant on bank funds and the debt market. if you have a fund management business giving you 50 million quid a year profit on top of everything else you can easily use that money to build something else.
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Old June 12th, 2010, 11:07 PM   #42
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http://www.shopping-centre.co.uk/new...ey_retail.html

Quintain is about to begin marketing its 280,000-sq ft Wembley City retail and leisure development beside Wembley stadium, prior to a start on site next year.

The development has been unlocked by the completion of an agreement with Cineworld to lease an 1,800-seat cinema complex that anchors the 280,000-sq ft retail and leisure hub of the Western Core of Wembley City. Marketing for the retail component, including a designer outlet village, will be launched this autumn, paving the way for a start of construction in 2011 and opening in 2013.
And it is now clear that the wider Wembley City regeneration project will include a much larger retailcomponent. In April 2010, following a public inquiry, the Planning Inspectorate endorsed Brent Council's Core Strategy, setting the framework for development in the borough until 2026.

This acknowledges that Wembley will be "the economic engine" for Brent, with the town centre being extended eastwards to facilitate a further 300,000 sq ft of new retail floor space by 2016, in addition to that already granted planning consent. It also acknowledges that there is capacity for a further 1.1 million sq ft of retail floor space by 2026.
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Old June 17th, 2010, 08:04 PM   #43
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Bob

QED actually bought their first 12 acres at Greenwich for £375,000 an acre,although £20 a sq ft on any sell price, does go back to the gov..

Most of the Wembley asset was acquired on a takeover costing qed £50 million which at the time workout to be £1 million an acre.

Question: can anyone list all the hotels built or soon to be built at both Greenwich and Wembley as i am getting confused .Holiday inn (demo or construction?),Hilton,inter con.Dome Hotel,etc

Thanks
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Old June 18th, 2010, 12:57 PM   #44
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That's interesting Rev Paul. Nice little earner for HM Treasury.

With the market heading downwards again I’d say Greenwich Peninsular will take 40 or 50 years to complete and provide a slow, lack-lustre return for investors. If a plot sits empty for 30 years it has to make a mint when the flats are finally sold just to make up for the lack of income throughout the previous decades.

Rather than sell teeny tiny 1 bed ~50m square appartments for £267k;-

http://www.bellway.co.uk/tabid/144/h...0/Default.aspx

they could opt to sell for less much quicker. If you pitch your product at international investors, buy-to-let speculators and the rich don’t expect them to sell quickly. A couple would need to be earning £80k between them to buy one of these hutches.

London can only sustain so much of a niche product. Expect these developments to grind to a halt at any hint of falling prices. We need to build for the people that live here. The developer which has the balls to pile em high sell em cheap will sell them in half the time, be building and selling through any drop in prices and reap the rewards.
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Old June 18th, 2010, 01:19 PM   #45
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38% of Greenwich and Wembley will be affordable houses.Not for your £80,000 plus salary types at all,infact they wouldnt even qualify!!!

Building work will cont.on both sites what ever the environment,but will mainly consist of commercial/office/retail properties where tennents have aready been found before construction begins.This is the case for the new Hilton,Cineworld etc..IQ beds fill themselves for obvious reasons.

Rev. Whicker
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Old June 19th, 2010, 04:48 PM   #46
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well this is everything for greenwich so far.

http://www.skyscrapernews.com/maps.p...859375&zoom=15

and for wembley

http://www.skyscrapernews.com/maps.p...498047&zoom=15
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Old June 19th, 2010, 08:57 PM   #47
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Thanks James.
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Old June 20th, 2010, 06:09 PM   #48
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do we know each other? :S
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Old June 21st, 2010, 11:15 PM   #49
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Its me OX
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Old June 22nd, 2010, 10:14 AM   #50
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Quote:
Originally Posted by The Rev Paul Whicker View Post
38% of Greenwich and Wembley will be affordable houses.Not for your £80,000 plus salary types at all,infact they wouldnt even qualify!!!

Building work will cont.on both sites what ever the environment,but will mainly consist of commercial/office/retail properties where tennents have aready been found before construction begins.This is the case for the new Hilton,Cineworld etc..IQ beds fill themselves for obvious reasons.

Rev. Whicker
Personally I think affordable housing just clouds the issue. All this part buy nonsense just maintains a rigged market. If they are focussing on commercial/office/retail then I guess that means slowing or stopping residential? Yet at the right price the market in London could absorb 10's of thousands of new properties and arguably needs them.

In this downturn every other sector of the economy is competing with cut price sales or a better product for the price. The housebuilding industry takes the product off the shelf until we can pay what they tell us we should pay. How is that a functioning market economy?

I'm not making a rant about it being unfair, I want to see a functioning market with competition for the best product at the best price. This will lead to more construction of better quality. I don't understand why people defend poor quality, low volume, high price. I don't see anyone arguing for a can of coke to be twice the price, half the size, and filled with ditchwater.
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Old June 22nd, 2010, 08:48 PM   #51
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Bob,

i am sorry but i really dont understand you and what you are saying.

Critical mass is the key phrase hear,not build lots of flats because that is what Bob whats and saturate the market.

Its all about timing .
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Old June 22nd, 2010, 09:05 PM   #52
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I am saying that if developers can't sell for the extortionate price they want they stop building and restrict supply. It's not a cartel, it's just that they all have the same expectations on return, they've all bought or developed their plots based on loans expecting this return.

It's not only what Bob wants it what the market wants born out by the fact that first time buyers are now in the mid thirties, buying as double income no kids couples, on above average salaries. If a market functions correctly the consumer should be getting larger flats for less. The reverse happens. Affordable accommodation just gives the illusion of more rich buyers tying people into part buy / part rent.
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Old June 23rd, 2010, 07:25 AM   #53
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Thanks Bob,

I dont want any affordable housing either,however thats what you have to swallow if you want to get planning permission.I would also prefer it if Quintain started building more appartments straight away,instead of a doubling of assets strategy.
I am afraid we are both going to have to wait until 2013 before any major appartments get constructed.Its not that they want too much money psqf ,its the simple fact that banks have reduced the amount of mortages that are available to potential purchasers.
The company have employed a critical mass strategy which wont be complete until 2013 and thats that.
London prices more than justify Quintains loan to acreage(with planning permission) ratios,each site on completion is worth £2 billion to the company.Worth thinking about.

Rev.

Last edited by The Rev Paul Whicker; June 23rd, 2010 at 06:24 PM.
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Old June 24th, 2010, 08:49 PM   #54
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pssst, Bob this might interest you.

http://www.independent.co.uk/news/uk...n-2006088.html
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Old June 25th, 2010, 10:38 AM   #55
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Yes I saw that. Scrapping S106 is a good thing IMO too. It's like a mucky, complex, onerous, public / private partnership in the urban realm and social services.

I hope these changes kick start the industry. There is definitely room for a Tesco of the developer world. Perhaps someone could bulk build apartment shells that owners fit out themselves? There are lots of opportunities to clean up when, as the article states, there are over 4.5 million people wanting something.
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Old September 6th, 2010, 02:03 PM   #56
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Went past on the train on Saturday and there seem to be a few cranes in place by the side of Wembley Stadium. Has anyone else been past recently - can anyone get any pics? Unfortunately I hadn't got my camera with me.

Looks like work on the Boulevard area is finally going ahead.
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Old October 4th, 2010, 08:41 PM   #57
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http://www.shopping-centre.co.uk/new...let_plans.html

Developer Quintain has unveiled detailed designs and plans for London Designer Outlet (LDO), the major retail and leisure element of its Wembley City Scheme.

The outlet centre offers 350,000 sq ft of retail and leisure floorspace in Wembley, north west London. It will include up to 85 units of stylish fashion, sports, homeware and lifestyle brands, up to 15 restaurants and bars and a nine-screen Cineworld cinema complex, seating 1,800 people.

Phil Cottingham, managing director of retail at Quintain, said: “I am delighted to announce the start of the leasing campaign for London Designer Outlet. It will be the capital’s first designer outlet centre and is the centrepiece of our ambitious 87-acre Wembley City regeneration scheme which is already well underway.

http://www.yourwembley.co.uk/images/...onJuly2010.pdf

Plus consultation on the next stage at Wembley South of the arena. Looks like a mix of residential with a new shopping street paralleling Olympic Way, restaurants and Cafes direct on to Olympic Way, plus Hotels and Student Accommodation above the shops. Possibility of a new department store.

Last edited by Rational Plan; October 4th, 2010 at 09:12 PM.
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Old October 4th, 2010, 09:00 PM   #58
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apparently they've already pre-let half the restaurants!
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Old December 14th, 2010, 08:28 AM   #59
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here's the masterplan for the north-west



they plan on doing one of the student blocks on the far right on olympic way first... the civic centre should be starting construction, shortly if it isn't already.
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Old March 20th, 2011, 07:09 PM   #60
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Had a look around and things are starting to pick up construction wise but most of it is at the ground clearance/foundation level.





















Progress

New Civic centre to be completed summer 2013







Some more for flavour
















Last edited by Rational Plan; March 20th, 2011 at 07:27 PM.
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