LAND & NEW BUILDnews New Build homes


Tony Pidgley


Hurrah for a tremendous year, says Berkeley!


Housebuilder Berkeley has hailed a “tremendous year” after it delivered a 58 per cent increase in profits.


The group said it continues to benefit from the resilience of the London property market as its profits soared to £214.8 million in the year to April 30, up from £136.2 million a year earlier. Sales reservations were some 27 per cent higher than the previous year. But Berkeley sent out a warning shot to the


Government over failing to invest in growth. Tony Pidgley, chairman and founder of Berkeley, said, “Growth requires a stable political and economic environment with well-considered policies that welcome inward investment and give businesses the confidence to invest and grow.”


He added, “Unnecessary bureaucracy, over- zealous regulation and taxation policy, and a negative rhetoric that undermines confidence, create barriers to the delivery of new housing which will pose an unwelcome drag on growth.” The group, which is focused on London and the Home Counties, said demand for residential property in good locations in the South East remained strong throughout the year. The region’s property market has been


boosted by overseas investors viewing the capital as a safe haven from the eurozone.


‘Growth requires a stable political environment.’


46 AUGUST 2012 PROPERTYdrum


Winkworth Putney has secured the instruction to market Gabriella Park Gardens – a major new development in a very popular west London location close to the river, between the busy centres of Richmond and Kingston. The developers have converted 70,000 sq ft of the Grade II listed, neglected building into a dynamic new residential scheme, with the addition of two carefully designed apartment buildings to the rear of the listed building. As the building is Grade II listed, English


Heritage and the Conservation Department of the Royal Borough of Richmond were very


New Build homes. Shiny, bright and brand new, who can resist? Winkworth Putney markets 80 apartments


closely involved in the project from the outset. The grounds have been transformed into


lovely parkland glades, respecting the resident wildlife.


Winkworth Putney has released a limited number of apartments that make up Phase 1 of the scheme, Phase 2 and 3 will follow on. The development is aiming to be fully completed and occupied by October this year. Initial interest in the scheme, a major local landmark, has been exceptionally strong, with numerous reservations. The apartments on the market range from £345,000 to £650,000.


RICS valuations for new and self build homes


RICS has updated its Valuation of Individual New Build Homes Guidance to increase


confidence in valuations. The guidance aims to increase lending on new and self build houses by encouraging


Peter Bolton King


greater confidence in valuations,


arming surveyors with the information they need to provide valuations for new and self build properties following market feedback, which revealed a growing trend in surveyors valuing new builds differently to older homes. The guidance will ensure that surveyors carrying out valuations for new and self


build properties follow a consistent methodology – instilling greater lender and borrower confidence and stimulating the flow of property financing. The paper has been adapted to reflect and ensure that recent market changes in buyer incentives and mortgage indemnity schemes such as the Government’s NewBuy scheme do not radically alter how valuations are carried out. Peter Bolton King, RICS Global


Residential Director, commented, “There have been significant changes in the new and self build market – and a renewed range of buyer incentives has sparked some uncertainty on if and how these should be factored into valuations. “This updated guidance will increase confidence amongst valuers, lenders and borrowers in their valuations by equipping surveyors with the information they need to carry out accurate and market consistent valuations.”


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