confidence

Sheffield is a city going places with big ambitions!

Stamp Duty Relief

Stamp Duty Relief

Stamp Duty Relief I Squared Property

How am I affected?

Stamp Duty Relief has been a benefit to many, over the past few months.  On 3 March 2021, Chancellor Rishi Sunak announced that the Stamp Duty Relief will be extended until 30 June 2021.

The reason for this decision, I think, is mainly due to the pressure to extend this because of possible delays in completion of properties.  Due to the lockdown, many things are being delayed.

The Budget

In the 2021 budget, Sunak confirmed that buyers now have until the end of June to complete sales in England and Northern Ireland.  From the end of June until the end of September 2021, the nil-rate band will reduce from £500,000 to £250,000.

A relief for many

So many homebuyers haver been worried they may not have been able to complete in time.  This would mean they didn’t benefit from this amazing opportunity.

The initial reason for the relief of stamp duty was to ensure the property market didn’t take a nose dive.  The idea was to encourage people moving house, to ensure the property market stayed at a high.  I believe, it has certainly had this effect.

According to Zoopla, in the last quarter of 2020, there were over 140,000 more people in the process of purchasing a property than there were in the previous year, with an estimated 418,000 home sales progressing to completion. 

I don’t know about you, but I have certainly noticed, recently, how quickly houses seem to be for sale one minute and then sold.

The plan of extending the Stamp Duty Relief until the end of June and phasing it out until September should help avoid a sudden downturn in prices on properties too.

How can you benefit?

It has certainly been an amazing opportunity and if you have been able to take advantage of this, I am sure you have really benefited.  But if you haven’t yet, let me explain a little more about how it works…

If you purchase a property for under £500,000 before the June deadline, there is no Stamp Duty to pay. 

On purchases over the £500,000 threshold, buyers will pay a 5% Stamp Duty on the portion from £500,001 to £925,000, 10% on the portion from £925,001 to £1.5 million, and 12% on any portion over £1.5 million. 

Landlords and people buying second homes can also benefit from the holiday, but still continue to pay the 3% Stamp Duty surcharge, which applies to additional properties.

House prices increased

It is crazy how much house prices have increased of late.  There have been increased of up to 8.5% during 2020  This is for sure the highest annual growth rate since October 2014.

It is said, he average UK house price reached a record high of £252,000 in December 2020.  This is said to have been pushed up, in part, by the urgency created by the stamp duty relief that is set to finish at the end of March this year.

Think differently

What do I mean, by think differently?

There are so many alternative ways to invest your money.  If you have money to invest you want it to work for you don’t you?  You want it to bring a return on your investment, don’t you?

I am guessing the answer is yes?

As a result, I think we can all agree, the banks are not the way to go, right now anyway.  What do you think?

What can you do?

To be honest, there are so many options available to you.  So, please do not worry!

What we do is work with our investors, so that you have the confidence to know your money is working for you.

You will not be getting negative rates, put it that way!

If you want to have a conversation on how we may be able to help please just get in touch here.

Take a look

Here are some of our projects.  Have a look at them and take a look at this feedback from one of our clients:

‘James and Laura worked very hard to source a property, fully renovated it and sell it for us.

To say we were impressed, is an understatement.  Their work ethics, the quality of work and the return on our money is fantastic.  We would definitely recommend them for anybody who wants good, honest, hardworking people who actually work to make you money’
Karen and Ross McKinley

You can see they are very happy and because of this it makes us happy.

Take a look for yourself at our You Tube channel

Be back soon

We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.

Speak soon

Laura and James

Case Studies

Who are we?

 

By admin, ago
Sheffield is a city going places with big ambitions!

I Squared Property’s latest new build project

I Squared Property’s latest new build project

I Squared Property's latest new build project I Squared Property

Latest New Build Project

I Squared Property’s Latest New Build Project started out a while ago now.  It is now completed and it is fabulous.  However, I want to talk to you about new builds and the problems we can face.

We love to take on land and building fantastic properties for our tenants to build their families in the homes we build.  But, that doesn’t mean we don’t have to be adaptable, because we do.  More than ever!!  WE have to think on our feet and be able to make changes where necessary; more often than not for the better too!!

One of our problems

This latest new build project came with numerous issues.  The drains and the school behind our property being a biggie!!

We had to contact the school  because of the drainage.

Crazy I know, but it should have been done at foundation level.  It wasn’t because of a last minute notification of a potential to tap into the main drains.   At the last minute the property manager, for the school, completely moved the goal posts.  This made things more difficult than they needed to be.

We reached an agreement eventually!

However, we did come to an agreement.  This agreement started off a £5k then to £7k and involved writing into the term that the school could move the drains at any time.  However, they were stipulating this would be at the cost of the homeowners.

Of course, nobody would agree to buy a home with that condition in place and we knew this.  So, we had to think on our feet and keep negotiating.

It did seem that it became all about the money, to the school.  We knew we had to sort this out and of course we did!  Not until we had been backwards and forwards via email, had numerous phone calls and not to mention the extra costs to us in solicitors’ fees.  Finally it was all agreed and we settled at £8,000.

A good job for contingencies, we thought at the time….

Lockdown

The drainage is just one of the points I am mentioning.  It was just a biggie and, at the time, it was very frustrating!!

As if it couldn’t get any worse.  Lockdown hit and things became a little more difficult.  We didn’t know if we were even going to be able to continue the builds.  Although, I Squared Property Ltd rarely let anything get in our way.  Even something as massive as a national pandemic.

We knew supplies were limited and, of course, in high demand by so many.  But, because we have built such good relationships, along the way, we managed to get what we needed.

Build relationships

Just goes to show, relationships and team work are key to every project.  We make it our priority to always work with people we trust and who we can have the best relationships possible.  It is like a partnership.

What is that saying?  ‘Team work makes the dream work!’.  Well, that is how we work.  As a team!

Because of our fantastic relationship with our suppliers, they came through for use and we were able to carry on and keep to schedule.

Drain Easement

So back to the drains!!

In case you wondered, drainage easements allow municipal workers or other entities access to properties to make repairs so that water will not pool or flood.

In that sense, drainage easements are a plus, as no one wants flooding on their land. Otherwise, the homeowner has full use of the easement.

Drainage easements are very common, and many people are unaware of their existence on their property unless they consult their deed or work is required.

So, you can see why we had to get ours sorted.

The Roof

The roof was installed on all three houses in 2 ½ days which was a fantastic result.  We were so impressed by this.

Because of the speedy turnaround, it meant we could move onto the installation of the windows.  This was making the external part of the houses complete.  Obviously, installing windows meant the houses would be water tight, meaning we could move inside.

This means we are getting closer to the décor part, which of course is one of my (Laura’s) favourite parts.

Plaster

The lockdown did create a massive shortage on plaster.  I think everyone within the building world felt this. We had 2 pallets on order, yet only one arrived.

At least the plasterers could make a start and eventually the 2nd pallet came, however, it did feel like we were on the back foot.  We don’t like to work this way.  But we did well, considering what was happening in the world.

Back on track

That is it we were on schedule for the contractor was due to start.

The school was between terms and this was the only time they would let us do the work.  The pressure was on.  We had to excavate part of the car park to lay the drainage to connect.  So this was a massive task!

Two days before and our contractors called us to say that unfortunately he was unable to take the job due to family issues.

We couldn’t write it.  It was crazy, we tried everything and called everyone we could think of.

This was not good and we were thinking that’s it we are going to have to wait and do the ground works in October, due to this being the next school holiday.

We had actually scheduled to have completed the project by October, so clearly this was not what we wanted.

Noooo….

That night I could not sleep!  My mind was racing and thinking, ‘what can we do, who can we contact?

However, the Law of Attraction worked it’s magic and the following day we had a call from a friend of a friend.

Guess what, this friend of a friend had just had a job pushed back and he would be able to take our contract on for the drainage and groundwork.  How amazing!!  See, back to building those great relationships.

We have never felt such a sense of relief all systems go again!  Let the rollercoaster of property continue.

The ground works

The ground works went to plan with no more issues.  However, when it came to curb stones our main contactor had a knee injury so we were left short.

Not to worry as few local developers we have relationships with sent over some workers to cover for a few days.

This was great, but, we really needed someone on a more long term basis to finish the job.  Unfortunately, the main contractor could not return to work, so we had to try an agency.

This worked out.  Of course, we had to kiss a few frogs, but we had a few good lads in the end and the job was completed.  We were very happy.

Internals

Onto the internals of the property.  I love this bit and I am pleased to say we had very few issues.

The only issues we had were from a few delivery issues with Howdens, but, we were pleased with how the job was running to time and the end was in sight.

Plot 3 was the first property to be finished and sell.  However, still to this day, February, as I write this the buyers are unfortunately stuck in a chain.  This worked out ok, as the house was dressed and we were able to use it as the show home.

Staging

We used one of the plots as a show home and used V R Staging to dress the property.

We really wanted to give potential buyers the feel that they could see themselves living in here and grow a family in these spacious homes.

The agents we have worked with have really gone above and beyond.  We were very happy that all three plots were sold before November 2020

We had our first people move in!!  In January and the new owners are enjoying their new home.

An experience

What can I say, the projects have come to an end.  Of course, we are on with our next one.

But, just to reflect on these for a few minutes.

We have certainly learnt a lot from this project.  I can honestly say, we have loved it and cannot wait to move onto the developments we have in the pipeline for 2021 and beyond.

I think we can rightly say we are so proud of these properties.  Not just the end results, but the way we managed all of the obstacles along the way.  Not to mention the national pandemic, that everyone is struggling with.  To be able to bring a little joy for a few people with these beautiful homes, really has been the cherry on the cake, for us.

It’s official!

For a while we didn’t have a road name.  Well, guess what?  Now we do!!

We have an official road name…   Woohoo!!

Because of the newly official road name, our development is now known as ‘The Middlecroft Development’.  I Squared Property’s latest new build project.

Grateful

We are so grateful to everyone involved in our latest new build project and many other of our projects at I Squared Property Ltd.

We are looking forward to growing our existing relationships with contractors and other builders.

Of course, not to mention the fantastic relationships we have with our existing investors and also building relationships with our new investors.

Be back soon

We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.

Speak soon

Laura and James

Case Studies

Who are we?

 

By admin, ago
Sheffield is a city going places with big ambitions!

HS2 and its effects on Sheffield

HS2 and its effects on Sheffield

HS2 and its effects on Sheffield I Squared Property

HS2 and its effects on Sheffield

What is it?

I am chatting about HS2 and its effects on Sheffield.  But firstly what is HS2, I hear you ask?  Well, it is a new high speed railway linking up London, the Midlands, the North and Scotland.  It is serving over 25 stations, including eight of Britain’s 10 largest cities and connecting around 30 million people.

The construction of the new railway is split into three phases – Phase One linking London and the West Midlands; Phase 2a linking the West Midlands and the North via Crewe; and Phase 2b completing the railway to Manchester and Leeds.

How does it work?

By building a new railway line, HS2 takes fast trains off the existing railway and places them on to their own dedicated tracks.

This is better connecting our major towns and cities.  Of course, this then allows slower, local trains to bunch up on the existing lines.  Which then frees up space across the country for many more commuter services and freight trains.

Economic Growth

HS2 is set to bring transformational economic growth to cities and regions across the UK.   There are some huge development opportunities which it could unlock.  One of those areas is Yorkshire!!

The positive impacts HS2 are believed to be ‘very positive for Sheffield City Region’. The economic benefits of high speed rail come not just from the productivity benefits of faster journey times.  It is also the regeneration that occurs around the stations and the access to a larger labour market enhanced connectivity creates.  But, that’s only part of the economic story.

It is not just about speed

HS2 isn’t just about the speed of travel between cities.  It’s around increase capacity, and therefore a focus on integrating it into the regions current transport networks is key to enabling growth.

This connectivity is key to Sheffield but not just from HS2.  It is also between the East and West which ‘is as, if not more, important’ than the improved connectivity to the capital.  Ensuring strong linked to Manchester and Liverpool in the West and Hull and Leeds within Yorkshire can only aid economic growth.  It is all aiding the Northern Powerhouse Initiative.

It’s vital that HS2 is accompanied by drastically improved services to Leeds and Manchester.  Whilst HS2 also remains key to staying competitive and attracting investment.  Sheffield has recently attracted Boeing Airlines, McLaren Automotive and retail giant Pretty Little Thing to the region, and inward investment conversations are now ‘at an all time high’.

HS2 is certainly aiding those conversations.  With the transformation of the city set to boost the number of those living in the region, whilst creating jobs and development sites throughout Yorkshire.

2018

2018 started plans on what the Sheffield station and the surrounding area will look like.  There were major opportunities for regeneration around the Sheaf Valley.  This is also linking different modes of transport and ensuring future capacity for growth in passenger numbers is not compromised.

Promoting the Parkway station serving South Yorkshire will ensure HS2 growth is realised across the wider region.  Whilst ensuring appropriate local connectivity is in place for all areas including Doncaster Sheffield Airport.  There is also a new Rail College in Doncaster and this will be key to providing the innovative and future proofing education.  This is much needed for students and the younger generation within Sheffield.

The most successful cities, right across the world, are those that benefit from good connectivity and HS2 will deliver that.  Often people don’t think about the conscious decisions that businesses make when choosing where to locate.  But connectivity is without doubt one of the leading factors.

Being accessible to customers, suppliers and a skilled workforce is crucial for any business to success.   There is already evidence of big businesses choosing to leave the capital.  They are then relocating to other parts of the country with good road, rail and transport links.

Sheffield area

Sheffield City Centre and the towns and businesses surrounding it such as Rotherham, Barnsley and Wakefield, will be able to draw talent from across the East Midlands and West Yorkshire.  Even further afield once the infrastructure is in place.  This will make the region a hugely attractive area for businesses to set up.

The importance of infrastructure between between northern cities such as Sheffield, Manchester, Liverpool, Leeds, Newcastle and Hull could help challenge the dominance of London.

HS3, or Northern Powerhouse Rail, is not an extra but it’s actually central to the vision of transforming the rail network in Yorkshire and help to re-balance the economy!!

This is definitely putting Sheffield and other Northern areas on the map of importance to the UK’s economy.

Be back soon

We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.

Speak soon

Laura and James

Case Studies

Who are we?

 

By admin, ago
Sheffield is a city going places with big ambitions!

Sheffield’s Universities

Sheffield’s Universities

Sheffield's Universities I Squared Property

Sheffield University

The heart of the UK

Sheffield universities are just a part of what makes Sheffield a really popular choice for international students.

At the heart of the UK, Sheffield brings a unique mix of vibrant city life, green spaces and friendly diversity.  Its sports and culture are world renowned and the local scenery is second to none.

Together, the red brick university and Sheffield Hallam University offer students a learning experience like no other.

I want to chat about the reasons that say Sheffield really is a fantastic city and the universities make a big part of these reasons!

Its world class universities

Built around its world beating universities, those that come to study at Sheffield often stay for good.  The University of Sheffield is a world top 100 university and a member of the prestigious Russell Group.

Sheffield Hallam University was awarded the University of the Year for Teaching Quality in the Times and Sunday Times Good University Guide in 2020.

Between them, they offer a diverse range of courses with excellent graduation rates, inbuilt work experience and partnerships with leading organisations.  Bursaries and financial support are also available to international students, so whatever your aspirations and needs, Sheffield can help you excel.

Better yet, each campus offers hi-tech, hi-spec facilities, meaning you’ll learn in cutting-edge environments with industry-leading tutors.  Then after a day of learning, unwind and re-energise at your pick of university leisure and social centres, designed to help you make the most of university life.

The city is diverse, affordable and safe

Attracting students from 150 countries around the world, Sheffield is proud of its diverse community. You won’t need to go far to find international shops, social groups and even friends. And, with its welcoming community, you’ll feel right at home right away.

Global cuisine is no exception. Sheffield offers a mouth-watering mix of restaurants serving food from all around the world. As well as food markets like Ozmen International and Moor Market where you’ll find every ingredient you’d ever need.

What’s more, Sheffield is the safest large city in the UK.  It’s also one of the top 10 most affordable UK university cities, well below the national average.

Thanks to its student community, you’ll find discounts around every corner. So not only can you explore the city with confidence, but your money will let you go further and do more too.

Sheffield’s green spaces!!

Sheffield is known as the ‘Green City’.  With two million trees and 250 parks and green spaces, it’s one of the greenest cities in Europe.

From Weston Park’s prime picnic spots to the green lawns of Endcliffe Park, Sheffield offers plenty of space to stroll, cycle, run or just relax.  Seek secluded spots among the tropical plants at the Botanical Gardens.  Or, if cycling’s your thing, take to the trails at Lady Canning’s Plantation or the wild corridors of the River Valley routes.

Better still, the nearby Peak District has plenty to offer when it comes to outdoor pursuits.  From trails and routes for hiking to mountain biking, caving and rock climbing, it’s the perfect place for all the adrenaline junkies out there.

The only question: where to explore first?

It has a vibrant city centre and social scene

Sheffield is the fifth biggest city in England.

This means, wherever you’re living and whatever you want to do, there’s something for everyone in its urban neighbourhoods.

Of course in Sheffield’s cultural district, you’ll find theatres, cinemas and art galleries galore.  There are often discounted tickets for students and many of the galleries and museums are free to enter.

West Street and Division Street offer vintage clothing, quirky shops and a vibrant mix of restaurants, pubs and bars.

And, on the city’s edge, the award-winning industrial quarter is home to some of the city’s best bars, bakeries, night markets and food halls, plus traditional pubs and the amazing industrial museum.

Not just universities

Sheffield universities are just a part of what make up this amazing city.

Sheffield is nestled in the heart of the UK with other big cities and everything else in easy reach.  Close by are the rolling hills of The Pennines, the traditional villages of the Yorkshire Dales, the magnificent Lake District and the rustic charm of the seafaring coast with its pristine Blue Flag beaches.

Sheffield also has a range of easily accessible and affordable transport links. So whether you want to find yourself in the Scottish Highlands or get lost down London’s backstreets, you’re never more than a short ride from home.

But it’s not just an ideal base for exploring the UK.  It also gives you access to the whole of Europe too.

Pretty good, hey?

What do we do?

Here are some of our projects.  Have a look at them and take a look at this feedback from one of our clients:

‘James and Laura worked very hard to source a property, fully renovated it and sell it for us.

To say we were impressed, is an understatement.  Their work ethics, the quality of work and the return on our money is fantastic.  We would definitely recommend them for anybody who wants good, honest, hardworking people who actually work to make you money’
Karen and Ross McKinley

You can see they are very happy and because of this it makes us happy.

Take a look for yourself at our You Tube channel

Be back soon

We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.

If you want to have a conversation on how we may be able to help please just get in touch here.

Speak soon

Laura and James

Case Studies

Who are we?

 

By admin, ago
Sheffield is a city going places with big ambitions!

Interest rates are so low… am I effected?

Interest rates are so low… am I effected?

Interest rates are so low... am I effected? I Squared Property

What is an interest rate?

You may be wondering what interest rates are and how they effect you.  Believe it or not, they do in many ways.  We all generally know an interest rate is a percentage charged on the total amount you borrow or save from a bank.

I think we all know, for the past few years.  Well, the past 15 or more really, interest rates have been so low.

Because of this, our savings are not really working for us are they?

How am I affected?

The change may be very small and it seems insignificant, but even a small change in interest rates can have a big impact.  It’s important to keep an eye on whether they rise, fall or stay the same.

Borrower – the interest rate is the amount you are charged for borrowing money.  Usually a percentage of the total amount of the loan.  The interest is what you pay for the privilege of borrowing.

Saver, it’s the same except the interest is paid to you!  Sounds good doesn’t it?  It’s the bank that have the privilege of your money.

The problem

Now, the current problem is the interest rates are so low!!  So, basically, you are not getting anything back for the privilege of the bank having your money! That doesn’t sound fair does it?

Banks and the interest rates

The bank of England made 2 emergency interest rate cuts in March 2020 to try and reduce the economic impact of COVID 19.
Interest rates are so low... am I effected? I Squared Property

The interest rates were slashed from 0.75% – 0.25% and then again to 0.1%!!

 

The lowest on record

This is the lowest on record.  It is hard to believe they are so low.  But they are said to be looking at 0% by Autumn 2021.  Scarily, it could even possibly go into negative.  This means below 0%!

How is that possible?

This is a scary time for saving your money with banks.  I want to bring this to your attention, because may be now is the time to think differently about your money.

Think differently

What do I mean, by think differently?

There are so many alternative ways to invest your money.  If you have money to invest you want it to work for you don’t you?  You want it to bring a return on your investment, don’t you?

I am guessing the answer is yes?

As a result, I think we can all agree, the banks are not the way to go, right now anyway.  What do you think?

What can you do?

To be honest, there are so many options available to you.  So, please do not worry!

What we do is work with our investors, so that you have the confidence to know your money is working for you.

You will not be getting negative rates, put it that way!

If you want to have a conversation on how we may be able to help please just get in touch here.

Take a look

Here are some of our projects.  Have a look at them and take a look at this feedback from one of our clients:

‘James and Laura worked very hard to source a property, fully renovated it and sell it for us.

To say we were impressed, is an understatement.  Their work ethics, the quality of work and the return on our money is fantastic.  We would definitely recommend them for anybody who wants good, honest, hardworking people who actually work to make you money’
Karen and Ross McKinley

You can see they are very happy and because of this it makes us happy.

Take a look for yourself at our You Tube channel

Be back soon

We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.

Speak soon

Laura and James

Case Studies

Who are we?

 

By admin, ago
Sheffield is a city going places with big ambitions!

Strength of the initiative of the Northern Power House

Strength of the initiative of the Northern Power House

The strength of the initiative

When the Northern Powerhouse initiative was introduced it had clarity of purpose and vision.  However, it also raised some thoughts.  For example…

If the cluster of cities in the North West could be better connected, with with residents in Leeds and Manchester in particular.  Of course not forgetting Liverpool, Sheffield and other surrounding towns brought together in a single labour market.  What powers would those cities need in order to deliver on this vision?

Questions?

This prompted many questions.  Such as:

How could we create a “Greater London” urban system in the North?

How could we scale it to compete globally on growth, trade and investment?

What would be the gains locally, regionally and nationally?

Answers

We did not have to wait long for answers.

For example a major new devolution deal announced for Greater Manchester and infrastructure projects.  Such as those like the  High Speed 3 to better connect it with Leeds proposed to kick start delivering on this vision.

Favouring

But, as ever in politics, clarity comes at a cost.  Particularly when it means appearing to preference some places or people over others.

Most notably, the rolling out of ‘Manchester-like’ devolution deals to other parts of the North has been badged as being a key part of the Northern Powerhouse.

While these deals are important for individual places.  They don’t necessarily bring us any closer to achieving the initial aims of creating a “Greater London” in the North.

And, even if Liverpool and Sheffield will now benefit from devolved powers.  It seems the Leeds City Region, one of the areas most fundamental to the Northern Powerhouse, is without a devolution deal.

Progress to date…

It is fair to say that there has been some progress in six years.  The major success of the Northern Powerhouse has been in devolving power to mayors and creating transport for the North.

Strengths of the initiative since 2014:

  • 5 ‘metro mayor’ elections have been held – in Greater Manchester, Liverpool City Region, Tees Valley, Sheffield City Region and the North of Tyne.
  • 47.1 per cent of the North is now governed by a Mayor.
  • 69.6 per cent of the North is now covered by a combined authority.
  • Transport for the North – a new regional transport organisation – has brought forward a £70 billion investment package.

The strength of the initiative in property

Now, seen as we are all about property at I Squared Property.  We have to mention that over half of Britain’s best buy to let postcodes are in the Northern Powerhouse!!  How amazing is that?

In a recent study looking at the best buy to let postcodes in the UK for rental yields, over half of the postcodes were in the Northern Powerhouse.  Liverpool’s L7 postcode was top, but Manchester, Newcastle and Sheffield were all in the top 25 too.

Alternative Investments

There are so many alternative ways to invest your money.

If you have money to invest you want it to work for you don’t you?  You want it to bring a return on your investment, don’t you?

How can we help?

What we do is work with our investors, so that you have the confidence to know your money is working for you.

If you want to have a conversation on how we may be able to help please just get in touch here.

Be back soon

We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.

Speak soon

Laura and James

Case Studies

Who are we?

 

By admin, ago
Sheffield is a city going places with big ambitions!

What is the Northern Power House

What is the Northern Power House

What is the Northern Power House I Squared Property

Sheffield City Centre

I hear you.  What is the Northern Power House?

Back in 2014 George Osbourne announced a pledge to reinvigorate the North West. Ever since, the cities within the project have seen rapid growth.  They have enjoyed regeneration through investment from the government’s scheme.  The initiative was designed to help improve the economic prospects of Northern cities and it is working.

The project combines the Northern Powerhouse Investment Fund, the Northern Powerhouse Partnership, the European Regional Development Fund and Local Enterprise Partnerships (LEPS).

At the heart of the Northern Powerhouse sits countless investment opportunities for investors to get involved with.

The idea behind it?

Ok, so the idea was to push these once forgotten North West cities into the limelight.  So far, this has been successful. 

The scheme aims to reposition the English economy away from London and the South East.

In practice, this will mean significant investment in improving transport and trade links.

The plan was to put technology, science, sustainability and health at the forefront of the scheme for economic advancement.

It has to be said, since implementing various strategies, Sheffield and other Northern cities included in the scheme have enjoyed vast improvement through infrastructure and investment opportunities.  So, it is clearly working.

Who’s in Northern Powerhouse?

Known as the capital of the North of England, Manchester, has benefited greatly from the Northern Powerhouse strategy.  However, there are six other ‘core cities’ at the heart of the project too.  These being Liverpool, Leeds, Newcastle, Hull, and of course Sheffield.

The Northern Powerhouse has led the way in terms of attracting regional investment in the UK.  But what is it?

Change the way people live and work

The idea behind the Northern Powerhouse was to change the way people live and work, as well as the economic landscape of the North.

By building a Northern Powerhouse, we will be able to boost the local economy, investing in skills, innovation, transport and culture.

Decisions in the North are to be made by the North.  This gives northern cities the power and resources needed to allow them to reach previously untapped potential.

Creating more jobs

Over the next 15-20 years, the initiative could create an additional 850,000 jobs, adding £100 billion to the economy by focusing on creating a modern transport system, supporting world leading industries and growing the skills base in the North.

The Northern Powerhouse is home to a number of top universities, bringing great skills and talent to the regions.  The university of Sheffield ranked 117th in the world and 14th in the UK according to the 2020 Times Higher Education World University Rankings.  Sheffield also came in at number 45 out of 500 universities in Europe.

This shows how Sheffield has a well deserved position with in the Northern Powerhouse Strategy.  The more people that attend Sheffield University and experience the vibrant culture and interesting heritage, leads to people staying in our city.  Thus creating more need for properties.

Sheffield

Sheffield has its roots in the regional cities across the North.  It is clear to us that there are huge benefits to creating stronger relationships between the northern cities and the areas around them, economically, culturally and socially.

Currently, the cities have changed and developed and they are all doing incredible things.  However while it is great that each city is becoming bigger and still growing.  Unfortunately, none are that big in global terms.

The success of the Northern Powerhouse in the future will depend on collaboration between the cities.  This means bringing together our complementary and world class offers, for instance in relation to health and life science, digital and big data and advanced manufacturing.

At the heart of Sheffield our vision is to help make our great city regions greater and to ensure our plans are fully aligned with those of our city regions.  We are supporting this by providing the right science and tech facilities to enable businesses to start up, scale up and grow into national and global companies.

We are in a period of disruptive change for the North which matches the disruption and rapid change we are witnessing in all walks of life.  This disruption may bring uncertainty, but it also brings huge opportunity for the future of the Northern Powerhouse, its people and its businesses.

Exciting times 

The whole Northern Powerhouse Strategy is very exciting for the future of Sheffield.  The need for properties and investment.

If you have money to invest you want it to work for you don’t you?  Property could be the way for you.

We work with you…

What we do is work with our investors.  This gives you the confidence to know your money is working for you.

You will not be getting negative rates, put it that way!

If you want to have a conversation with us.  Just get in touch here.

Be back soon

We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.

Speak soon

Laura and James

Case Studies

Who are we?

 

By admin, ago
Sheffield is a city going places with big ambitions!

What Is Gazumping? And How you can Stop it from Happening to You

What Is Gazumping? And How you can Stop it from Happening to You

What Is Gazumping? And How you can Stop it from Happening to You I Squared Property

Gazumping

I hear you ask… What is gazumping? And how you can stop it from happening to you. If you’re buying or selling a house or flat then gazumping is something that could happen to you.  I am going to explain a little bit more about what gazumping is and things you can do to try and stop it happening to you.  Firstly…

What does it mean?

Gazump originates from a Yiddish word – gazumph – meaning to cheat.

Therefore, gazumping means to cheat.  In property, it is cheating someone else out of a property.  Let me explain a bit more about what is gazumping? And how you can stop it from happening to you…

What is gazumping?

Basically, this is when a seller has accepted an offer on a house or flat from a buyer.  However, another buyer comes along and makes another offer.  This offer is usually higher, and then the seller accepts.

This leads to the original buyer losing the house they wanted and the gazumper buys it instead.

Why does it happen?

This can affect both the seller and the buyer.  How?  Well,  the original buyer loses the house they were planning on buying and has to start their house search again.  The seller has to start the whole selling process again but with a different buyer.  Crazy really, but in my opinion, it kind of comes down to greed.

If someone is offered more money, they take it.  Unfair, but, it happens.

The most likely time it happens is property market is booming.  It all comes down to supply and demand.  Basically, when there are more buyers than properties for sale.

The longer it takes for the sale to go through the greater the risk a buyer will be gazumped.  If there is a chain and then a cash buyer comes along.  I guess it can be appealing to sell to someone else.

You may be wondering, what’s the problem?

What’s that saying?  All is fair in love and war!  I guess, you could be forgiven for thinking that here.

We all know house buying and selling is one of THE most stressful things to do.  So, it can be really upsetting and stressful.

Imagine finding your DREAM house.  You think it is yours, you are just waiting for a date and then bam!  We have sold to someone else, sorry!

Now, this can actually be a problem for sellers as well.  Why?  Well because gazumpers can be game players.  They may actually be offering more than they can afford to pay.  Even more scary, they may be offering more than a house is worth, therefore they may not be able to raise the funds for the purchase.

This leads to a risk that the sale will fall through!

Let’s not forget time and money might have already have been spent on surveys, mortgage application fees and solicitors’ fees.  It can be costly for all parties.

This cannot be legal though, surely?

Well, it is not illegal. Immoral, in my opinion, but not illegal.  Buyers can gazump and sellers can accept the offer.  Unfair, yes.  It has happened to me before.  That is why I want to bring some points to your attention, in order to make sure it doesn’t happen to you.

Until the house is sold only a verbal agreement between buyer and seller.  This is not legally binding.  It is not law until the contract of sale is exchanged legally.  This is in England and Wales, anyway.  The laws in Scotland are different.  But that is another topic.

How to Stop Gazumping if you are Buying

Firstly, make a strong offer!  We all want a bargain, but the better your offer price the less chance somebody will be willing to beat it.  Plus the seller will be less tempted to look at another offer.  Put yourself in the best position you can.

It doesn’t hurt to ask for the property to be taken off the market as soon as your offer is accepted.

It is good to build a relationship with the estate agents.  You can ask them to remove the property and not to conduct any more viewings.  You could even say it is a condition of your offer.  It is worth a try, to put yourself in the BEST position!

You could also ask for the seller negotiate back with you, if there are any other potential buyers.  However, this could potentially lead to a bidding war.  So just be careful here.  It’s best to take legal advice about the pros and cons of doing this.

Make it easy for the seller

Of course, if you could make yourself a cash buyer.   This would put you in an amazing position.

If you have a property to sell, sell it before you find somewhere to buy.  Sellers are more likely to see a cash buyer as a priority buyer.

Make sure you have your finances in order.  For example, a mortgage in principle.  This makes the seller know you are serious.  Don’t forget sellers want to sell with ease, as much as you want to buy with ease.  Make it easy for them likely to stick with your offer if you have the money waiting.

Be sure you have a solicitor or conveyancer in place and ready to act quickly.  Make sure you choose one who has a reputation for carrying out conveyancing as quickly as possible.

The quicker contracts are exchanged the less chance there is you will be gazumped.  Sometimes, gazumping may occur not because another buyer makes a higher offer but because the seller needs a faster sale and so decides to accept a different offer having initially accepted yours.

Try to get everyone in the process to agree to a target date for exchange of contracts and for legal completion and to work towards it.

Keep in touch

Keep in regular contact with the estate agent, solicitor, bank or building society and sort out any hitches as quickly as possible.  If you can, stay in touch with the seller too if you can.

It is all about building relationships .

Insurance

It is possible to get an insurance policy, often called Home Buyers Protection Insurance.  This can to help minimise the problems gazumping can cause.  Although, insurance can’t stop gazumping it may refund your expenses if you are gazumped.

Don’t estate agents make sure gazumping doesn’t happen?

You would think so wouldn’t you?

Estate agents who charge a commission to sell a house stand to gain if they find a gazumper who is willing to pay more than has already been agreed.  However, most estate agents will say they do not encourage gazumping.

It is known that some have an anti-gazumping policy.

This being said, estate agents cannot stop gazumping even if they wanted to.  This is because if, after a sale has been agreed, another offer comes along.  They are duty bound to pass it on to the seller.

So, whether they like it or not, an estate agent may actually be involved in gazumping.  I know it sounds harsh.  This is why as a buyer you have to do everything you can to understand; what is gazumping? And how you can stop it from happening to you.

Buying a house for investment?

If you are not purchasing your new family home.  It could be worth considering alternative ways to invest your money.   If you have money to invest you want it to work for you don’t you?  You want it to bring a return on your investment, don’t you?

I am thinking the least hassle would be nice too.

What can you do?

To be honest, there are so many options available to you.  So, please do not worry!

What we do is work with our investors, so that you have the confidence to know your money is working for you.

You will not be getting negative rates, put it that way!

If you want to have a conversation on how we may be able to help please just get in touch here.

Take a look

Take a look for yourself at our You Tube channel.  You can see the things we are doing.

Be back soon

So, What is gazumping? And how you can stop it from happening to you.  I hope I have explained a bit more to you.

We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.

Speak soon

Laura and James

Case Studies

Who are we?

 

By admin, ago
Sheffield is a city going places with big ambitions!

Sheffield is a city going places with big ambitions!

Sheffield is a city going places with big ambitions!

Sheffield is a city going places with big ambitions! I Squared Property

Sheffield Investment Map

A city going places with big ambitions!…

Sheffield is a city going places with big ambitions! The FCO described Sheffield as a city that is going places with big ambitions!  I can say living here it definitely has the feel of a city on the up.

In the 60’s Sheffield was completely ahead of its game.  Gaining a reputation for creating modernist icons.  Such as Park Hill Flats and the Gleadless Valley Estate.

This city’s industrial heritage and geography have created a defined separation of East and West.  Hallamshire being home to Dore, Whirlow and Ranmoor.  Properties here still demand a premium.

To the east, areas such as Meersbrook, Greenhill and Gleadless cater for first and second-time buyers.  With the city centre, Shalesmoor and Kelham Island offering a trendy alternative.  A great option for those stepping onto Sheffield’s property ladder, due to the areas redevelopment scheme.

There is also array of independent restaurants, galleries, museums, café’s and bars.  And of course home to Meadowhall.  Meadowhall is the largest shopping centre in Yorkshire.  The eleventh largest in the United Kingdom.  There is even plans for an extension.  This would make Meadowhall the fourth largest shopping centre in the UK.

Evidence?

There have been many major residential and commercial developments over the past few years.  With many more in the pipe line!  Thus, creating much improved housing and attracting new businesses.  

A city of great opportunity!  No matter if you live here, work here or invest here.  Throughout its history, Sheffield, has been recognised as inventive, hardworking and entrepreneurial city.  Priding itself on getting on with things, quietly but effectively, irrespective of the challenges faced.  Just like Sheffield ‘folk’.

Sheffield attracts and retains new investors, graduates, entrepreneurs and multinationals as well as developing it’s own locally grown world beating companies.

So much more…

With 2 world class research Universities Sheffield is well placed for the 21st Century. Over 35% of the 15,000 Graduates from the Universities remain in the city every year.  As well as this it has a Hospital with a global reputation for its research and the largest College in Europe!

With an average travel to work time of only 23 minutes.  It also offers a quality of life with over half of the City’s population living within 15 minutes of open countryside.  Many even closer to the city’s 150 woodlands and 50 public parks.

Not just a steel city

Known as the ‘Steel City’.  Famous for its ‘made in Sheffield’ steel cutlery.  But, it is also awarded as England’s greenest City.  Literally the best of both worlds!!

A city that has more trees per person than any other City in Europe.  And being on the doorstep of the Peak District….  Wow, what a place!!

This city is still at the heartbeat of UK manufacturing.  It remains home to many of the world’s most innovative engineering organisations global names like Boeing, Tata and Rolls-Royce.  All who benefit from the city’s credentials in advanced and modern manufacturing.  Both universities of Sheffield are strong in engineering.

Sheffield Properties

In the South of the UK annual property prices are expected to see the largest increase.  However, property investors are looking North for good value for money and income stability.  The Sheffield property market has held its own in recent years.  It is believed the prices are likely to rise over the next few years; creating a property hotspot.

Over a third of high net worth investors looking to purchase property in northern regions think that property prices are going to rise.

With over a quarter who plan to purchase citing ‘strong rental income’ as a reason to invest here.

Be back soon

We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.

Speak soon

Laura and James

 

By admin, ago
Sheffield is a city going places with big ambitions!

What is hands off investing?

What is hands off investing?

What is hands off investing? I Squared Property

Hands off investing

 

 

 

 

 

 

Hand of investing…

Ok, so what is hands-off investing?  Whatever it is it sounds good doesn’t it?
It works in two, ways 1. You invest money for a set period or per project for a return of x or 2.
We find you a property for a fee.  Then we refurbish the property for a fee.  Once we have done that, we then find you a tenant for a fee and % each month.  Both are excellent ways to Invest totally Hands Free….

Property management

Let’s say you have bought yourself a property, but you don’t want all of the hassle that goes with managing it.  Or you don’t really know what to do.

I get it, property management can be a real headache and there are often problems that are unpredictable and unavoidable.

Often the joys of leaks or boilers breaking down in the middle of the night and the tenants are on the phone to you!

That doesn’t sound fun does it?

Kind of explains why is no wonder that a lot of investors choose a property management company to take care of these things for them.

Property management companies will tell you that you are getting the best of both worlds. The benefits of a monthly residual income, without any of the hassles of being a traditional landlord at the beck and call of tenants around the clock.

Free Your Time

If you are looking to build a good property portfolio (and you should) then having the time available to do this is essential. You do not want to be a 24 hour landlord dealing with the mundane when you should be looking for your next property.

Even with one property you may find that being the landlord can be a full time job. What if a tenant leaves? You will want to ensure that a new tenant is found very quickly. Do you have the time and resources to do this?

A letting agent will be far more likely to find somebody that is ready to rent in your area than you will be able to alone. Also they will have access to trusted local trades people who can do all of those repairs for you. Your time is critical to your success.

Is It A Good Idea To Go Totally Hands Free?

Right now there is a huge demand for hands off investments. There are companies that will find the ideal property for you, find tenants and manage the property as well. But is this a good way to go?

Well even when you take the agents fees into account you can still make a good profit and residual income if the property is in the right location and there is strong rental demand.

What is not a good idea is to leave this all to an agent to decide. You need to know what the rental yields are in a particular area before you commit to a property purchase.

Some unscrupulous agents have inflated these rental yields and unsuspecting investors have purchased properties in the wrong locations and lost considerable money.

Talk to other investors that have used a particular agent to see if they are on the level and perform your own due diligence in an area before investing in a property and you should be safe.

Why?

Because we are a family business, we understand the need to secure your future for your family.  We get it!!

You are only dealing with us.  Anyone we have working for us is vetted by us and works directly with us.  Trust is very important for us and we only work with people who understand what we are about.

At I Squared Property we have a comprehensive portfolio of properties in the South Yorkshire region.  We have a massive choice of properties for all budgets enabling you to reach your lifestyle and financial goals.

If you are considering buying an investment property, it starts with a conversation.

Help us understand what you are looking for and we are in a better position to help you achieve your goals.

We can save you time by recommending the most suitable ways we can help you achieve your financial goals.  if you want to have a chat just request a call back here.

Take a look behind the scenes

Transparency is something we pride ourselves with.  We are always sharing what we are doing and what we have done.

If you want to keep up a little bit more with us, subscribe to our You Tube channel and take a look for yourself.

Be back soon

We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.  If you want to know more about us just take a look.

Speak soon

Laura and James

 

By admin, ago