intelligence PROFESSIONAL EXPERTISE


A chance to get on the property ladder


A dip in the buy-to-let market could open the door to more first time buyers – and not before time. That’s according to Bristol


builders Helm Construction, who say the Government’s decision to apply the brakes to the buy-to-let market through a three per cent stamp duty surcharge has already hit the sector hard – and helped reduce competition for young families struggling to get on to the property ladder. Helm Construction Chief


Executive Gary Sheppard said: “Bristol has proved something of a happy hunting ground for buy-to- let landlords who frequently bid for properties at the lower end of the housing market – and their greater financial clout has seen many first time buyers priced out of deals. “A year on and the


Government’s decision to head off the buy-to-let market has halved buy-to-let loans from 142,000 last year to just 71,100. “With buy-to-let landlords


holding back it could help reduce pressure on the housing market and give more young adults a chance to get on the property ladder.”


Ambitious plans for The Pithay


Programme, a prominent Bristol city centre building formerly known as The Pithay, is being transformed into a stylish new hub for businesses craving an inspiring place to work. The project represents the largest


speculative office refurbishment scheme currently being developed in the city centre. Work is now under way at the site, which


will include 110,000 sq ft of open-plan office space with exposed ceilings, as well as a brand new reception and entrance, featuring a café offering breakout space for relaxed client or staff meetings. Ian Wills, director at JLL in Bristol, which is


‘Companies


are increasingly having to


work hard to


provide quality workplaces’


marketing the space for let, said: “Companies are increasingly having to work hard to provide quality workplaces in order to retain their best staff and attract new talent. This is a scheme that really stands out from the crowd, offering an inspiring place to work, with its own unique character and plenty of natural light.” JLL and Savills are the joint letting agents at


Programme. The scheme will constitute a genuine mixed-use community as it also includes retail space encompassing existing independents such as a bike shop, co-working office, café and bar.


Lost in Translation? A newly landscaped urban park


and seating area, directly accessible from the café, will be created along with secure cycle parking, shower and changing facilities. The redevelopment scheme


embraces the original architectural qualities of the building. Phase 1, totalling 50,000sq ft, will complete in September, and features suspended LED


lighting and the sympathetic replacement of the


existing glazing to improve the building’s thermal performance. In fact, the original single glazed metal windows are


being replaced with energy-efficient, doubled glazed and tinted windows by the same family firm, Clements, that installed the original windows in 1966. Programme is located in central Bristol with quick


and easy access to the St Nicholas’ Market, Cabot Circus and the city’s harbourside.


PROPERTY


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32 insight JULY/AUGUST 2017


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