PROPERTY


A CGI impression of the Talbot Street development


Design of student flats revealed


Nottingham and Leicester-based Franklin Ellis Architects has revealed the contemporary, demand-led design of its latest student residential scheme on Talbot Street in the Canning Circus conservation area of Nottingham, having secured planning permission for the development at the end of last year. As part of ongoing efforts to


regenerate the area, Canning Circus was outlined by the City Council as a conservation area and is subject to special planning controls to ensure that the character of the area is preserved or enhanced. Franklin Ellis has worked on The


Ropewalk within the Canning Circus conservation area for 25 years, having invested in the renovation and restoration of a listed Victorian Pumping Station to create its own offices. The 103,300sq ft student scheme,


which will deliver 330 bedrooms in total, has been designed to meet the increasing demand for affordable, sociable and fully-furnished student accommodation. To meet the demand, Franklin Ellis has designed a range of ‘cluster’ flats. Cluster accommodation combines en-suite accommodation with shared living facilities, all accessed through one entrance to encourage interaction.


‘Cluster accommodation combines en-suite accommodation with shared living facilities’


Franklin Ellis has extensive


experience in working in higher education and after noticing a shift in the demand for student accommodation from high-end studios back to clusters, the practice designed a scheme that would not only help regenerate the Canning Circus area, but also satisfy Nottingham’s ever-growing student community. David Franklin, partner and


design director at Franklin Ellis Architects, said: “Canning Circus is


How landlords can protect


their profits in changing times Chris Sellars (pictured), residential property specialist at solicitors Banner Jones, discusses how landlords can protect themselves in the wake of tighter legislation.


New investment in the buy-to-let market has fallen by £20bn in two years as the lethal combination of tighter tax and mortgage rules takes its toll on landlords. Figures released by IMLA, the


mortgage lender trade body, show that the value of new money raised to invest in buy-to-let properties has fallen by 80% from £25bn in 2015 to £5bn in 2017. In that period, a series of reforms


have had a punitive effect on landlords. The stamp duty surcharge on additional properties was introduced in April 2016, making the expansion of a portfolio more expensive.


And the phased removal of


mortgage interest relief which began last year has also squeezed profits. Meanwhile, some landlords now


face an uphill battle getting mortgages at all, thanks to changes to lending restrictions ushered by the Prudential Regulation Authority, part of the Bank of England, at the tail end of 2017. But with many professionals


purchasing second properties as a business investment that will, fundamentally, provide an additional revenue stream, what can landlords do to protect their profits from shrinking?


To prevent entering the higher-


rate bracket, some landlords have taken steps to set up a limited company for their investment properties to reduce their tax bill. This means any profits made on


their investments will be subject to corporation tax rather than income tax, which could provide a viable money-saving option. Although the amount of tax


relief available to individual landlords is being cut back, if you’re a limited company you’ll still be able to offset 100% of any interest charges. Incorporating could be the key to maintaining profitability, but there


are a myriad of issues at play, which is why we recommend you seek specialist legal advice to make sure it’s the right option first. If you are not a large-scale


landlord then there may not be the need to move your portfolio into a limited company, and there are other options available to help protect your financial interests. These include getting a lower mortgage rate or reducing the mortgage amount on your buy-to- let property by paying off a large portion of it.


business network June 2018 67


an important historic gateway into Nottingham and its regeneration and re-engagement with the city centre is very welcome. “We are proud to be continuing


to protect and enhance the Canning Circus conservation area and to be working on this development so close to our head office. Our aim is for this scheme to stand out as a top-quality living environment for aspiring students that fits seamlessly into the existing urban environment.”


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