10 | BUSINESS
To advertise email advertising@wokinghampaper.co.uk
Business PROPERTY INSIGHT wokinghampropertyblog.co.uk
£9,800 boost to Wokingham first time buyers First time buyers can get help to get on the property ladder. Picture: Håkan Fröling / Freeimages. com
T
Got a business story? Email news@ wokinghampaper.co.uk. or write to The Wokingham Paper, Crown House, 231 Kings Road, Reading RG1 4LS
Dogs’ kennels get makeover thanks to building firm
Erica Townend
HERE’S a whole legion of wannabe Wokingham firsttime buyers keen to get on the property ladder and they now have a 3% price advantage over the previously quicker responding army of Wokingham landlords with cash at the ready. Since the start of April, buy-to-let (BTL) landlords have had to pay an additional 3% stamp duty so, while demand from some Wokingham buy-to-let landlords has dropped away, in the interim, it offers Wokingham first time buyers (FTBs) a chance to fill the vacuum with less competition from cash rich landlords (over two-thirds of BTL properties were purchased without a mortgage in the last seven years) who could bid more and complete quicker. Looking at the average value of a terraced house in Wokingham currently standing at £328,900, that means if our Wokingham FTB went up against a Wokingham landlord, the landlord would have to pay an additional £9,867 in stamp duty. Early anecdotal evidence from fellow property professionals in the town is suggesting landlords are reducing their offers slightly on Wokingham properties to reflect the extra stamp duty. While, on the face of it, it appears landlords are being punished by No.11 Downing Street, I actually believe this increase in stamp duty for landlords is a good thing for the Wokingham property market as a whole. Since 2011/12, the Wokingham property market has performed very well indeed. Over the last 12 months, £407,451,440 has been spent buying 943 Wokingham properties. Figures from the Land Registry have just been released and month-on-month in our council area, property values are 2.5% higher, yet 14.4% higher year-onyear. These figures are nowhere near the heady days of 2000 (July to be exact),
THEWOKINGHAMPAPER Friday, June 10, 2016
when Wokingham property prices rose by 27.4% in 12 months. So as property values in Wokingham (and the UK as whole) start to stablise and come back to some kind of balance, I am beginning to see savvy landlords view the Wokingham property market in a different light. Even with the Spring rush, gone are the days where you could make limitless money on anything that had a door, a few windows and roof. This stamp duty change has made more and more landlords, after reading the Wokingham Property Market Blog (www. wokinghampropertyblog.co.uk), take advice on what or not to buy and what to pay, meaning Wokingham landlords are being more calculated with their Wokingham BTL purchases. I am also seeing a variance between relatively brisk current price momentum and softer expectations in terms of property value growth in Wokingham. This in part reflects uncertainty about the short term economic outlook (e.g. Brexit, Issues in the Far East, etc). Now I know a lot of Wokingham landlords brought forward their BTL purchases to beat the stamp duty deadline. It is probable that hunger from Wokingham investors will return for the right Wokingham property later in the year, especially if it’s at the right price and offers a decent yield. However, in the meantime, Wokingham FTB’s could and should, in the short term, make hay whilst the sun shines, plug the gap and grab a bargain. n If you want to read more articles on the Wokingham property market, whether you are a Wokingham landlord, Wokingham homeowner, first time landlord or a first time buyer – then visit the Wokingham Property Market Blog wokinghampropertyblog. co.uk Erica Townend is a director and co-owner of the Martin & Co estate agency in Wokingham and has been aligned closely to the world of property for almost 20 years. Opinions express in this column are her own.
DOGS at a well-known animal rescue centre will have kennels fit for a king, thanks to a donation from Bloor Homes. The house builder has given 100 concrete blocks to Binfield Dog Rescue to enable it to refurbish its 24 dog kennels, which are falling into a state of disrepair. The developer made the donation after sales advisor Natasha Seaborn-Davies, who is based at the Baker’s Place development in Woodley, spotted the rescue’s appeal on its website. Formed in 1966, Binfield Dog Rescue takes in abandoned and stray dogs from across the area and tries to find them a loving home. Owner Brian Johnson, who has been running the kennels for the past 18 years, said: “The kennels were second hand when we got them and because they have metal frames they are rusting quite badly and in urgent need of refurbishment. “We are extremely grateful to Bloor Homes for their generous donation, which will enable us to refurbish all the kennels and extend their lifespan well into the future. “We take in dogs that nobody else wants so it’s very satisfying get them into shape and to help find them a good home. We rely entirely on donations to carry out the work that we do so Bloor’s support is hugely appreciated.”
Bloor Homes sales advisor Natasha SeabornDavies and owner of Binfield Dog Rescue Brian Johnson with the concrete blocks which have been donated by the developer to enable the centre’s kennels to be refurbished. Also pictured are Chihuahua Cross Buster, left, and Terrier Cross Super Ted
Natasha, who has two dogs of her own, said: “I have donated several items to Binfield Dog Rescue myself and I know what fantastic work the rescue does with limited resources. “We were delighted to support their appeal for concrete blocks and we hope the kennel refurbishment will enable the centre
to continue delivering this valuable service for many years to come.” Binfield Dog Rescue added that it is always grateful for donations of pet food and money to pay vet fees. For more details, to offer help call the centre on 01344 421490 or email bdr@dogrescue.org.uk
Regeneration of Elms Field up for award By JOHN WAKEFIELD news@wokinghampaper.co.uk PLANS to revamp Wokingham’s town centre park have been shortlisted for a prestigious award. Elms Field has been nominated for the Planning Awards in the “Making Development Viable” category. The plans, which have been controversial among some residents and only received planning permission in March, include a new boutique cinema, 100 homes and a new park to replace the existing Elms Field. There will also be a larger play area, a hotel and restaurants installed. It is hoped that a new entrance
to the park from Wellington Road will become a gateway to the town centre. Work is expected to start on the scheme next year and is due for completion in 2019. The scheme has been developed by Wokingham Borough Council in collaboration with a Coventry-based firm of architects, IDP. Speaking to Edge Magazine, IDP Design Director Ben Flippance expressed his delight at being one of four names on the shortlist. He said: “I’m delighted for the whole team that this project has been recognised. “It’s the culmination of a lengthy design development process with detailed engagement
with the local community, politicians, local authority stakeholders and the developers,” he said “Judges said they were looking for entries that had improved or were likely to improve the physical or environmental quality of a place or the economic or social well-being of a community.” Also nominated in the category are Plymouth City Council’s scheme for Millbay, Southend on Sea Borough Council’s Heath and Carby House and the Wynyard Gardens and Visitor Centre organised by Cloud Content Solutions. The awards will be presented at the Savoy Place hotel in London on June 23.
Real Business club meets THE next meeting of the Real Business Club takes place in Wokingham on Monday. The networking event will be held, as ever, at Loch Fyne in London Road from 6pm to 8pm. The event includes an opportunity to pitch ideas in 60 seconds and a chance to meet with other like-minded business people. Entry costs £12, which includes a drink on arrival and a selection of light refreshments. Places should be booked. For more details, or to book, call 0118 968 0813 or log on to www. therealbusinessclub.co.uk.
Masterclass offered in understanding customer expectations A WORKSHOP will offer Berkshire’s businesses a chance to better understand, excite and grow closer to their customers. Hosted by the Thames Valley Berkshire Business Growth Hub, the masterclass will be led by experts from X NPD. It aims to help understand the customer experience and journey as well as helping to “embed customer considerations in New Product Development processes”. CX NPD director Jeroen Visser said:
“Customers are the most important stakeholders for any business, but all too often their needs and wants are overlooked. “This workshop will help businesses of all shapes and sizes to develop truly great customer experiencesthat will surpass the offer of their competitors and the expectations of the people who buy from them.” The Customer Experience Masterclass will be held at The Science & Technology Centre, University
of Reading, Earley Gate, Whiteknights Road, Reading, RG6 6BZ, from 9.30am to 1pm on Thursday, June 23. It will be led by CX NPD director Jeroen Visser (pictured). The workshop is free but booking is required. To reserve a place email natalie. truswell@berkshirebusinesshub.co.uk or call 0118 935 7115. The workshop is part of the Thames Valley Berkshire Business Growth Hub’s ongoing commitment to push local companies with high growth potential to greater heights. n For more details on this and other seminars, log on to www.berkshirebusinesshub.co.uk.