What has MFE been up to in the last year?

All Manor of Property – of course!

In 2023, MFE set up Manor Farm Estates Stroud Surveys as a subsidiary dealing with house surveys. The location for this service is restricted to the immediate surrounding area of Stroud and the Five Valleys. We now have a webpage on this site detailing the new offer.

In 2024, it is anticipated that MFE will concentrate more on strategic land. MFE has a new link with tax experts who can advise on inheritance, SDLT and company structures for landowners.

Our prediction for the market in 2024 is, unfortunately, on the gloomy side as interest rates remain high and uncertainty continues with this being a year of elections – not least both in the UK and the USA. There may be a small market bounce of optimism later in the year, as the government tries to ease economic matters in an attempt to secure re-election. This may then feed into a slightly better feel about property transactions but, as these are usually long-term commitments, I don’t think it will be an important factor. Interest rates remain high as compared to recent times and this depresses the market across the board, including all property types.

In the planning world, the new NPPF provisions have reinforced the importance of Local Plans so that landowners should engage in this process.  A major issue – which MFE can again assist upon – is the question of viability which will eventually be tested in every new local Plan. The implementation of BNG (Biodiversity Net Gain) is a further cost implication for this process.

Good luck for 2024! It is likely to be a bumpy ride!

What has MFE been up to this year?

All Manor of Property – of course!

1. SALE OF A SITE

for 50 residential units alongside a railway line in the West Country. Interesting contract
involving a top up on sale of units to maximise the eventual sale receipt to the landowner
whilst giving the purchaser some protection from possible market volatility.

2. ADVICE TO A LANDLORD
relating to a possible dilapidations claim at the end of a lease. Negotiating the terms for the
quitting of the lease where the tenant has held over from the end of the lease date.

3. SEARCH FOR BROWNFIELD SITES WITH A PLANNING HISTORY OF PROBLEMS
for a prospective buyer. Area restricted to Southern England.

4. SEARCH FOR FUTURE LAND FOR HOUSING
for a client that wishes to take out options on land. Focus on Southern England.

5. SEARCH FOR CONVERSION OPPORTUNITIES TO RESIDENTIAL
for a small investor. Examples considered include office to residential or larger houses to be
converted to flats. Area restricted to Birmingham area and further south.

6. ONGOING MARKETING OF A 1 ACRE SITE
suitable for residential development or other uses in Coseley near Dudley in the West
Midlands.

If you have suitable sites or properties that meet some of the above requirements or property that has similar problems please contact MFE. Anything to do with property, we can assist you!

As reported recently in the Telegraph the Government has published a White Paper which details new proposals to support the housing  sector and address some of its dysfunctional problems. Unfortunately, the Paper has misssed the opportunity to fundamentally address the real issues. The Telegraph article sets out matters which should have been addressed.

The key points are:

It hasn’t dealt with: the small house building sector; the five year supply of housing land (see picture below); no assistance for older people to downsize from a large family home to a smaller house; poor attempt to deal with affordability for first time buyers; no new initiative on council house building.

CREDIT: NATHANIEL LICHFIELD & PARTNERS