Building Briefs – July 22nd

  • Capital housing activity highest in more than a decade 

Edinburgh’s property market continues to heat up with the highest number of homes being bought and sold in more than a decade, according to Warners Solicitors and Estate Agents.

Building Briefs – July 22nd

The firm said activity amongst buyers and sellers through the first six months of 2019 has risen substantially compared to 2018 – with the highest level of activity recorded since the market downturn in 2008.



Between January and June, Warners brought more than 550 homes to the market for sale, marking an increase of over 23% compared to the same period in 2018.

The number of offers being agreed for properties also rose sharply, with the estate agent shifting over 500 homes in the first half of 2019 - an increase of 26.5% compared to the first half of 2018.

During the first half of 2018, the average premium paid to secure a home stood at 6.6%. In the last six months, this figure has decreased to 3.9%.

While less of a strain is being placed on purse strings, Warners also found that buyers have become more confident when it comes to selling, with a rising number of house hunters aiming to secure their purchase before putting their own home onto the market.



 

  • Advance Utilities to support Racing Against Dementia charity

Advance Utilities, part of Advance Construction Scotland, are supporting the Racing Against Dementia Charity.

Founded by Formula 1 racing legend Sir Jackie Stewart, the charity is dedicated to funding pioneering research to the prevention and cure of dementia.



A team of four from Advance Utilities, headed by Lynsey Breen, director of strategic operations, will take part in a two-hour endurance race on August 15 at Larkhall Circuit. Team entrance is £400.00 plus VAT and all proceeds of the entry fee go directly to the Race Against Dementia Charity.

If you would like to enter a team and help fund pioneering research into the prevention and cure of dementia please see more information here.

 

  • Abandoned Dundee arcade to be transformed

Plan to turn a long-vacant space in Dundee’s Reform Street into three retail units have been revealed.



Hynds Amusement Arcade was snapped up by local property firm West One Property in January for a reported £180,000.

The firm wants to divide the large space into three retail units to attract new tenants.

It has now submitted its redevelopment plan to Dundee City Council for review, with a decision expected in September.

 



  • Demolition work begins at former hotel in Dundee

Demolition work has started at a former hotel in Dundee that closed its doors early last year.

The Park House Hotel, on Coupar Angus Road, had been scheduled for demolition after plans were drawn up to replace the dilapidated site with new homes.

A building warrant to tear it down was submitted at the end of last year and approved in February.



Scoping work began at the end of last month and demolition work began on Saturday. Planning agents ARKTX put the cost of the work at around £50,000 after Redwood Leisure – which runs other hotels in the area – requested the building be torn down.

It is yet to submit a follow-on application to build homes on the site.


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