Sir Philip Green and his Arcadia Group have been no strangers to EG’s pages in recent years, and we’ve recently been covering Green’s plans to restructure his empire through company voluntary arrangements including proposed store closures.
Then, this week, this strange new sign appeared outside our new Bishopsgate HQ. Is this the start of some sort of art installation tribute to the decline of the high street? Is the area being rebranded? Or is it a passive-aggressive protest at EG’s continuing coverage of Arcadia? Diary has no clue, but will have to remember not to walk into it next time we leave the premises looking at our phone.
Busman’s holiday?
A competition to win a year’s free accommodation in an innovative, stylish build-to-rent scheme has been won by… a town planner.
Self-confessed “urbanist” Calum Jack took the prize at the official opening of Birmingham’s biggest BTR development, Allegro, where the city’s Lord Mayor, Mohammed Azim, announced that Jack could enjoy 12 months of rent-free living in one of its 603 apartments – saving him at least £800 a month. As if that wouldn’t be uplifting enough, there he can enjoy access to a state-of-the-art wellness centre in the “residents’ hub”, with health and well-being a top priority at Allegro.
“It is extremely exciting to be a part of this new community and a brilliant build-to-rent scheme,” Jack said. “As a town planner and a self-confessed urbanist, I am looking forward to living in the thick of it.”
And getting plenty of ideas for future projects, no doubt.
Safety first
Like anybody in the property industry, health and safety is very important to us here at EG – so consider our knuckles well and truly rapped after receiving the following missive from sharp-eyed reader Ben Kallend, asset manager at Wm Morrison Supermarkets.
“I am an avid reader of the EG magazine,” he wrote (thanks Ben!), “and find it invaluable in staying up to date with news from the real estate market and ever-changing legislation.
“I couldn’t help but notice in the recent 25th May issue, under the Legal and Professional section (page 60), the trades-man, who appears to be working at height, paying little regard to any health and safety legislation or wearing any form of PPE. He appears to be simply supporting himself via one foot rested on a slim timber lat!
“This is rather concerning. Is this the picture you wish to paint of the construction industry? I look forward to hearing how you propose to address this concern.”
Step one, we’re holding our hands up on the Diary page. Step two, we’re reminding our art team and editors to bear health and safety in mind when selecting images. Step three, we’re imploring any would-be roof repairers to take all necessary precautions – even those who are actually photographic models.
Beyond mindfulness
Diary loves to hear a naff new word that embodies some fresh concept. Thankfully, the world of property is full of them – and when it’s a strained portmanteau, all the better.
So we are delighted to add “Finnfulness” to our lexicon, thanks to Marski by Scandic, a new signature hotel open in Helsinki. Apparently, the beautiful-looking hotel “stands firmly on its roots of Finnfulness – the open-mindedness, urban lifestyle and love of nature that personifies modern Finns”.
Diary has never been to Finland, alas, despite the country’s allure – its mountains so lofty, its treetops so tall – being captured so poetically in the Monty Python song. But now that there is a word to capture its very way of life, we’re desperate to go – if only so we can tell the first person we see: “You are Finnful… but I like you!”
Don’t move, improve
So, you’ve invested in one of the family homes for under £100,000 from last week’s Diary. Perhaps it’s also on a royal-named street (again, see last week). How best to do the place up to enjoy a quick profit?
Thankfully, online agent Sellhousefast.uk has been in touch with a neat visual guide to what improvements give you the most bang for your buck. Its not-necessarily-revolutionary, but oddly specific, findings include that giving the entire house a fresh lick of paint can add £7,013.25 to its value (3.1% of the average property price) and a kitchen renovation can add £12,442.87 (5.5%).
If you’re prepared to go the extra mile, adding an extension to either the loft or the kitchen would provide exactly the same return – £23,754.57. Meanwhile, adding a whole bedroom can increase a property’s value by £25,338.21.
Do it all to your bargain home on Viscount Street, and your sub-£100k investment might end up as a £150k-plus investment. (Disclaimer: Any information summarised in Diary does not constitute professional advice…)
