NEWSbeat
PARLIAMENTARY QUESTIONS
Homeownership and regulation
In Parliamentary written questions during September, two interesting topics
Evolvin’s MD, Chris Haines: “To the Emirates and beyond!”
SOFTWARE Supplier evolves from Wales… to Dubai
Evolvin, the Cardiff-based software company which provides the Evolvin Agency Software system for commercial and residential estate agents, will open an office in Dubai next month. MD Chris Haines said the new
branch would help the company to support a growing client base in the Middle East, and capitalise on fresh opportunities there. Evolvin recently won the contract to provide the Evolvin Agency
COMMERCIAL Tower 42 for sale
BlackRock UK Property Fund and LaSalle Investment Management, have announced their intention to sell their freehold interest in the landmark Tower 42 Estate in the heart of the City of London. Tower 42, at more than 600 ft
in height, is one of the tallest buildings in the City. The Estate is currently 95 per cent let and continues to attract tenants from a diverse occupier base whilst achieving market leading rents. In addition to the iconic
324,000 sq ft multi-let Tower 42, the Estate includes five other commercial buildings on a 2.2 acre freehold site. These include three modern developments on Old Broad Street comprising 20 Old Broad Street (36,000 sq ft), 30 Old Broad Street (49,000 sq ft) and the Plaza Restaurant (3,500 sq ft). Two other buildings are on the
10 OCTOBER 2011 PROPERTYdrum
freehold Estate in a key City location. With limited supply and increasing demand exerting upward pressure on rents in the City market, investors can anticipate strong returns and considerable long term growth potential.” Julian Agnew of LaSalle
Bishopsgate elevation including 15 Bishopsgate (46,000 sq ft) which is a potential redevelopment in 2013 and the Grade I Listed Gibson Hall (13,000 sq ft). Jeff Morton, Managing Director at BlackRock, said, “Tower 42 remains one of the City’s prime landmarks. This sale presents potential investors with the opportunity to acquire this famous building along with a 2.2 acre
Investment Management comments, “We believe the numerous opportunities available make the Estate a very interesting opportunity for an investor looking to secure a core Central London presence”. Jones Lang LaSalle has been
instructed to market the Tower 42 Estate and will be seeking offers in excess of £290 million for the freehold interest, reflecting an attractive net initial yield in the order of 6.9 per cent and a capital value of circa £600 per sq ft.
Software system to Colliers International across the EMEIA region, as well as gaining new clients in Jordan, Dubai and Israel. At the same time, Evolvin is growing its domestic operations from its Cardiff Bay headquarters. New business lines include Evolvin Technical Services, which supplies hosted internet telephony and cloud hosted infrastructure. Evolvin Social Marketing works on social media and online marketing with a specific target to estate agents. One of the new products
offered by Evolvin Social Marketing is the Property Socialiser which
provides a mechanism for distributing property information and analysis automatically to your website, Twitter, Facebook, YouTube and other social websites, increasing brand awareness and search engine optimisation. Evolvin has helped Howard Cundey increase website visitor numbers by 90 per cent compared to last year, and Gordon & Co now have as many referrals from social sites as they do from portals. Chris Haines said, “The hard
work and determination of all our team looks set to make this an interesting year.”
And Coventry MP Jim Cunningham asked if the Minister will bring forward proposals for the regulation of inventory companies instructed by the private rented sector; and if he will make a statement. Grant Shapps replied, “It is a general principle of
this Government that we will not rush into regulation where voluntary approaches to ensuring safeguards for consumers have not been properly tested and where there is little evidence to suggest that such an approach is needed. “Therefore, given the paucity of evidence to suggest any problems with inventory companies that might be remedied by regulation, we have no plans to regulate this sector. Excessive regulation would push up rents and reduce the choice of accommodation for tenants”.
were raised. Liverpool MP Steve Rotheram asked what information CLG holds on the number of UK graduates who have purchased a home in the last 15 years. Grant Shapps, Minister of
State, Housing and Local Government, answered that, “In England, there are an estimated 1.8 million home owners out of the 3.5 million people who have graduated in the last 15 years”. Which indicates that almost
as many – 1.7million – graduates still, after 15 years as a ‘fully educated’ member of society, are still renting, or living with their parents.
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