Main image: empty apartment room renovation, before and after restoration / refurbishment
Refurbishing old buildings reduces emissions – but outdated tax rates make it expensive
Existing buildings already embody significant CO₂ emissions, which makes it all the more important to upgrade and refurbish – rather than demolish and rebuild – wherever possible. But as it stands, the UK’s tax system actually puts a significant financial penalty on refurbishment, while incentivising new construction. It's time for that to change, says Walter Menteth...
Walter is a director of Walter Menteth Architects, Project Compass CIC, a senior lecturer (p/t) at Portsmouth school of Architecture, an RIBA National Councillor, chair of the trustees of the North Southwark Environment Trust, and was a member of the Cabinet Office SME Panel 2011-2015, and Chair of the RIBA Procurement Reform Group 2011-2013.
Property developers to face two new taxes to pay for cladding scandal bill
Robert Jenrick has announced that residential property developers will face two new levies, starting in 2022, to pay for some essential fire safety works on high rise buildings, following 2017's Grenfell…
BoE cuts interest rates in response to ‘the economic shock from Covid-19’
The Bank of England has cut the base interest rate by 0.5%, taking it back down to a mere 0.25%, as part of a package of emergency measures to cope with the economic effects of the Coronavirus outbreak.
By PrimeResi
Election 2019 head-to-head: Comparing manifesto pledges on housing & tax
From Stamp Duty levies to income tax thresholds; planning reforms to green homes...
By PrimeResi
Companies in this article
University of PortsmouthMost read
Harrods Estates to shutter operations after 130 years
High-profile luxury agency, founded in 1897 and a fixture of the Prime Central London market, has closed its Knightsbridge office and is no longer accepting new enquiries.
Knight Frank launches self-employed broker network
The 130-year-old estate agency has identified 36 London patches for affiliate brokers, as it looks to expand its sales coverage.
By PrimeResi
Savills snaps up top-end London lettings firm
Acquisition sees PCL veteran Mark Tunstall return to the agency as co-head of super-prime lettings in the capital.
UK Sotheby’s teams up with Sports World on big-ticket lettings
Tie-up results in ‘landmark’ transactions in Highgate and North Surrey.
Harrods Estates duo Dougramaji & Harte join Strutt & Parker
BNP Paribas-backed agency boosts Knightsbridge & Belgravia team as top PCL operators move on from Harrods Estates.
Luxury Mayfair scheme chalks up deals as turnkey demand holds firm
Agents report ‘sustained appetite’ at Reuben Brothers development despite market headwinds.
Agency reports £37mn deal run on Hamilton Terrace
Five sales tucked away on one St John’s Wood street, including two sizeable houses just last week.
Strutt & Parker recruits Knight Frank Private Office dealmaker Robinson
Super-prime specialist joins broker team as BNP Paribas-backed agency continues to scale PCL operations.
My Property Career: Quickfire Q&A with Charles Leigh
Recruitment guru Barry Collins chats with prime resi industry leaders & entrepreneurs, distilling decades of experience & career highlights into 60 seconds.
Resi developer & investor team up for €150mn luxury Marbella project
Major Spanish housebuilder confirms a 'strategic expansion' in the prime residential arena.
By PrimeResi
LATEST ARTICLES
Knight Frank launches self-employed broker network
The 130-year-old estate agency has identified 36 London patches for affiliate brokers, as it looks to expand its sales coverage.
By PrimeResi
Strutt & Parker recruits Knight Frank Private Office dealmaker Robinson
Super-prime specialist joins broker team as BNP Paribas-backed agency continues to scale PCL operations.
International project & cost management firm launches ‘Luxury Living’ brand for UHNWIs
MGAC says its new division 'offers white glove stewardship & a seamless experience' for super-rich clients.
By PrimeResi
Property ‘flipping’ has dropped to the lowest level in a decade
'10 years of higher stamp duty rates have squeezed out professional refurbishment projects,' says Hamptons.
By PrimeResi
Grand Registry: Surveying last month’s biggest registered deals
Super-prime sales in Chelsea and Knightsbridge lead latest rundown of officially-recorded transactions.