Unitisation opens up the property market

Article Abstract:

London's imminent unitization of the commercial property market will allow small investors to purchase units of office buildings, shopping centers, and industrial parks, in order to receive quarterly dividend benefits after deduction of management fees and withholding taxes. The unitization plans should also facilitate obtaining financing for commercial real estate projects. One of the first real estate units that will be traded on the London Stock Exchange is the Property Income Certificates (or PINCS) available from the British real estate firm of Richard Ellis and County. Each PINC purchase will occasion the transfer of two certificates, one which provides the holder with the right to quarterly income from the unit and one which allows the holder one vote in the related real estate management firm.

Security and commodity exchanges, Real estate agents and managers, Innovations, Investments, Real estate industry, Securities, London Stock Exchange PLC, Property, London

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New stalls in the mortgage market

Article Abstract:

The current high interest rates and real estate market conditions in the UK have prompted banks and building societies to create new mortgage packages. One of the new programs called a 'currency mortgage' involves borrowing from overseas banks in a foreign currency. This offers borrowers the advantage of lower interest rates, but they also take on the risk of exchange rate fluctuations which can greatly affect monthly payments. Another mortgage innovation is an account that allow borrowers to choose the level of monthly payments, borrow cash advances, and maintain a fixed interest rate of 13.5%. Other special mortgage schemes involve special loans for young professionals, mortgages for renovation projects, and loans for ecologically- related dwellings.

Analysis, Mortgages, House buying, Home buying

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The developer is king of the jungle

Article Abstract:

Companies which wish to construct or renovate a building for their use may now turn to the British Property Federation (BPF) and their new contract form, which reduces or eliminates all architectural design and construction worries by placing the entire enterprise into the hands of a contractor. The contract was developed in cooperation with the Association of Consultant Architects. It is also possible for a company to work, instead, with a developer, which has the advantage of readily available property at more reasonable prices. The company can also work entirely alone, which will be time-consuming and expensive, but may theoretically produce exactly the right result.

Construction industry, Construction, Contracts, Buildings and facilities, Corporations, Building

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