Columbus to start continuous injection of CO₂ in Trinity Inniss field

first_imgThe Company’s interest in the Trinity Inniss field benefits from an agreement with Predator Oil and Gas Columbus to start CO₂ injection in Trinity Inniss field. (Credit: 272447 from Pixabay) Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, is pleased to announce receipt of Ministry on Energy and Energy Industry (“Ministry”) approval for the start of continuous injection of CO₂ in the Trinity Inniss field.   The Company also announces a continuation, for the month of May 2020, of the cost control measures first implemented in April 2020. Leo Koot, Executive Chairman of Columbus, commented:“The Company is pleased to have received Ministry consent for the start of continuous injection of CO₂ in the Trinity Inniss field.  The CO₂ project is an important enhanced oil recovery project for both the Company and Trinidad and I look forward to updating the market upon the commencement of continuous injection.The Company has decided, for the month of May, to continue to manage some of its third party costs through the issuance of shares under the Lind Facility and the Contractor Shares scheme.  However, we are conscious of the dilution this has on shareholders and so will, in the coming weeks, carefully review the effect of the share issuances and whether it makes sense to consider its use in the future.“Background – Trinity Inniss CO₂ ProjectAs previously announced, the term of the Trinity Inniss Incremental Production Service Contract (“IPSC”) was extended to allow for the implementation of the CO₂ Pilot Project.   The Company’s interest in the Trinity Inniss field benefits from an agreement with Predator Oil and Gas plc (“Predator”), whereby Predator will help plan and fund the CO₂ EOR Pilot Project (the “CO₂ pilot project”).  As part of the agreement with Predator, the Company and Predator share 50:50 in any incremental oil production (after Predator recovers its costs associated with the project).  Additionally, Predator has the right (until 30 September 2020) to purchase the Company’s interest in the Trinity Inniss field for US$4.2m.  Corporate Update – Lind Shares and Contractor SharesThe Company will continue, for the month of May 2020, of the cost control measures first implemented in April 2020. As announced on 15 April 2020, the Company has implemented various costs control measures, including the issuance of shares to Lind in lieu of cash payments and the issuance of Contractor Shares. The Company has decided that it is the best of interests of its shareholders to continue these actions into the month of May 2020 and as such will:·      Issue 13,046,803 new ordinary shares to Lind in lieu of cash payments otherwise due in May 2020 (the “Lind Shares”).  Such issuance is in accordance with the Company’s rights under the 2019 Facility Agreement.  ·      Contractor Shares: issuance of 9,500,000 new ordinary shares to various contractors, as part of the Contractor Shares Scheme, which has been in place since mid-2018.The other measures for managing company costs as announced on 15 April 2020, including no cash salaries for the Executive Management, remain in place.Lind Shares and Contractor SharesThe Lind Shares and the Contractor Shares represent 2.51% of the 895,467,938 ordinary shares in issue prior to the issuance of the Lind Shares and Contractor Shares.  The Lind Shares and Contractor Shares will rank pari passu in all respects with the Company’s existing ordinary shares. An application will be made for the Lind Shares and Contractor Shares to be admitted to trading on AIM, (“Admission”), and it is expected that Admission will become effective and that dealings will commence on or around 20 May 2020.Total Voting Rights For the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Board of Columbus hereby notifies the market of the following:As at the date of this announcement, and after the issuance of the Lind Shares and the Contractor Shares, the Company’s issued share capital will consist of 918,014,741 ordinary shares with a nominal value of 0.05p each, with voting rights (“Ordinary Shares”). The Company does not hold any Ordinary Shares in Treasury.Therefore, the total number of Ordinary Shares in the Company with voting rights is 918,014,741. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules. Source: Company Press Releaselast_img read more

Theresa May does it her way – 8th June is Election Day

first_imgHome » News » Theresa May does it her way – 8th June is Election Day previous nextRegulation & LawTheresa May does it her way – 8th June is Election DayMPs approve Theresa May’s plan for a snap election on 8th June.Sheila Manchester20th April 201701,111 Views Election Day has been confirmed by Parliament and it will take place on 8th June 2017 – and by a massive majority of 522 to 13, a result that must have delighted the Prime Minister, Theresa May who needed 434 votes to go ahead. Mrs May urged the British people to ‘put their trust in me.’Nine of the 13 MPS who voted ‘No’ were Labour: Ronnie Campbell (Blyth Valley), Ann Clwyd (Cynon Valley), Paul Farrelly (Newcastle-under-Lyme), Jim Fitzpatrick (Poplar and Limehouse), Clive Lewis (Norwich South), Fiona Mactaggart (Slough), Liz McInnes (Heywood and Middleton), Dennis Skinner (Bolsover) and Graham Stringer (Blackley and Broughton). the other four were Alasdair McDinnell, SDLP and Independents Lady Hermon, Michelle Thompson and Natalie McGarry.David Westgate, Chief Executive of Andrews Property Group, was surprised, but says it’s business as usual, “Theresa May’s announcement that she intends to seek the support of MPs to hold a snap election on June 8 undoubtedly came as a surprise, but we must not let it destabilise the property market. Elections can lead to uncertainty and that can affect confidence; however the mechanics of the market are such that it is driven by demand and that remains extremely high at the moment.  We need to seek ways to encourage more stock to enter the market and ensure that sellers do not delay a sale until after the election has been held.  Simply there is strong demand and now is as good a time as any to market a property and achieve a strong price. We’re very much taking the ‘business as usual’ approach.”Philip Woolner, Joint Managing Partner, Cheffins, said, “General elections and political uncertainty in general often put a dampener on the property market, however, as the market continues to be driven by high demand and low levels of supply, it is unlikely that we will see any real effect on activity in the run up to June 8th.  Thankfully, the run up to the election is short and should the polls be correct and the Conservatives win with a decent majority, we would expect a boost in the market as many property investors will welcome another five years of Conservative government.”Ed Heaton, Managing Partner, Heaton & Partners, predicts a landslide, “I see the decision to hold a General Election in June as a positive for the property market, particularly as the snap nature of the announcement, means that there has been no long build up with buyers and sellers wanting to hold off. Whilst the outcome is widely expected to be a Tory landslide, the element of uncertainty is limited because of this. The prospect of five more years of Conservative rules will be seen by many as a real positive.”Trevor Abrahmsohn at Glentree suggests canny buyers have an opportunity to snap up a bargain, “As is usual before a momentous event there will be a great deal of ‘wall sitting’ as people will forestall making decisions to move home, until after the results are known following the Election. In truth, I am not sure it will make any difference whatsoever for the long term outcome of residential property and underlying values, but there could be an opportunity for canny buyers in the next eight weeks to ‘snap up’ a bargain or two, from sellers who have become ‘battle weary’ from the malaise created by the former Chancellor Osborne and his daft Stamp Duty hikes.”Mr Abrahamsohn was, no doubt, pleased to hear the later news that Mr Osborne has decided not to stand for Parliament in this election.Philip Woolner Cheffins 2017 General Election David Westgate Andrews Property Grou Theresa May Ed Heaton Heaton & Partners Trevor Abrahmsohn April 20, 2017Sheila ManchesterWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

Student Roost set to fly

first_imgA UK purpose built student accommodation (PBSA) provider has been launched under a new consumer brand – Student Roost. The Birmingham business has an asset value of £1 billion after buying PBSA properties for four years under the Rose Student Real Estate investment vehicle.Student Roost is home to over 11,000 students in 12 university towns, with an operating portfolio of 28 properties across the UK. Its development pipeline of a further seven sites, with 4,000 new beds, puts it on target to become the UK’s fourth biggest PBSA provider within three years.Tim ButlerChief Executive Tim Butler held main board directorships at GL Hearn and The Unite Group, and has over 20 years’ experience in the PBSA sector.Tim said, “A number of small developers switched primarily from residential development to become student housing developers through the recession; their schemes were either acquired by the larger student housing companies or operated by third-party management providers. This created a unique opportunity for us to consolidate a portfolio of high-quality student housing assets through acquisition.Chief Operating Officer Nathan Goddard, added, “The Student Roost brand will provide an affordable home-away-from-home with an emphasis on student wellbeing.“Our focus is on retaining our residents throughout their university life. The perfect scenario is having customers recommend our properties to others.”PBSA purpose built student accommodation Tim Butler Student Roost January 10, 2018The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Student Roost set to fly previous nextAgencies & PeopleStudent Roost set to flyThe Negotiator10th January 201802,223 Viewslast_img read more

Property sales down by nearly 30% in London, claims Land Registry

first_imgThe Land Registry has published alarming figures within its monthly house price index that suggest property sales have dropped by nearly 22% over the past year and by 9.8% over the past month, despite more upbeat figures from RICS last month.The situation is worst in London, where sales volumes are down by nearly a third year-on-year, the index reveals.“This indicates the capital is currently a buyers’ market. Vendors will need to readjust their price expectations by sufficiently taking SDLT into consideration if they are looking for a swift sale,” says Guy Bradshaw, Director of Central London Sales and Lettings at Sotheby’s International Realty (pictured, left).Other agents that The Negotiator talked to say there is no shortage of people wanting to move, but rather they are unwilling to pay the prices that properties were put on the market for weeks or months ago.Stamp Duty increasesMost said a combination of the ongoing problems with the Brexit process, and recent increases in Stamp Duty for prime and buy-to-let property purchases, were to blame for the current market.But not all agents think the drop in transaction levels is a bad thing, and point out that the surge that took place to beat Stamp Duty increases in 2016 have ‘skewed’ the Land Registry’s figures as prices and transactions have cooled off.“The headline figures in London will continue to make disturbing reading for some but, privately, estate agents are cheering a cooling that has already begun to deliver a recovery in transaction levels,” says Lucy Pendleton of London agency James Pendleton (pictured, right).But Lucy admits that the Land Registry figures show that the property overall remains “tight as a drum”.The index also reveals that house prices are rising by 2.9% year-on-year but are beginning to sfote – sold prices increased by only 0.1% during April. The only exception to this is the East Midlands, where prices increased by 1.7% over the past month. Land Registry Guy Bradshaw House price index property sales Lucy Pendleton james pendleton sothebys international July 18, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Property sales down by nearly 30% in London, claims Land Registry previous nextHousing MarketProperty sales down by nearly 30% in London, claims Land RegistryLatest house price index reveals stable prices but worrying drops in activity across the UK despite a hoped-for spring ‘bounce’.Nigel Lewis18th July 201801,077 Viewslast_img read more

Binning freeholders will leave residents worse off

first_imgAnti-leasehold campaigners have been quite vocal in the media recently, claiming that freeholders are unnecessary as they perform no function in residential blocks.It’s a familiar accusation which is often accompanied by the observation that the leasehold system is “ancient”. It still isn’t clear to me what the age of the leasehold system has to do with its viability but the growing prominence of building safety in the policy agenda is now making it increasingly impossible to argue that freeholders don’t do anything.The role of a freeholder is clear: to ensure that residential blocks are managed in a professional and efficient manner over a long-term period. Not only do freeholders ensure that the value of residential blocks is preserved for its entire lifespan, but they oversee the safety and well-being of the residents who live there.The reality in Scotland paints a useful picture of what happens when freeholders aren’t there. The law there is very different to England and Wales – residents in apartment blocks do not have a professional freeholder to look after the long-term lifespan of a building; a measure that came into place when the leasehold system was banned in 2012.This is causing serious problems across the country, as the Scottish House Condition Survey recently found that 50 per cent of Scottish housing is in a state of critical disrepair, and almost half of this demands urgent attention.Individual occupants are living in multi-storey blocks and many do not have the funds set aside to replace communal functions when they break, such as a lift when it reaches the end of its life. Professional freeholders, however, perform exactly this function, along with many other important services for residents.Queen’s SpeechFor the rest of the UK, this is a function that is about to become even more important. In the most recent Queen’s Speech, the Government reaffirmed its commitment to introduce a Fire Safety Bill and there is a clear consensus in Westminster that new regulation must be introduced to resolve ongoing issues with fire risks in residential blocks. We hope to see the next iteration of proposals in the form of a White Paper, Green Paper or draft Bill, and for the legislative process to begin in the current session of Parliament.Overall, these reforms have been welcomed across the industry and are a step in the right direction towards ensuring residents are safe in their own homes. But further progress is needed to monitor and manage fire safety risks in residential blocks.The question for those who believe that freeholders are unnecessary is simple: who is going to perform this role? Of course, in some cases, there will be resident-led management groups who can take on responsibility for building and fire safety. But is that going to be possible in every apartment block in the UK, including in the larger and more complicated mixed-use blocks?Under the Government’s new proposals, this role entails a range of significant financial and legal responsibilities which are usually performed by a professional organisation with the necessary expertise to deliver this function.In my experience, resident-led management groups are unlikely to have the qualifications, administrative functions and resources to effectively carry out the role. More fundamentally, residents simply may not want to take on these obligations.The challenge for policymakers is to ensure that progress with the building and fire safety regime is not consumed by flawed rhetoric about freeholders and the leasehold system. Of course, there are challenges within the leasehold sector, which is why reforms must be underpinned by comprehensive regulation to raise standards and protect consumers, but removing freeholders entirely is not the answer.Michael Gaston is MD of leading property management firm Estates & Management.Estates and Management Michael Gaston Leasehold Reform freeholders 2020-01-16Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed. Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » Guest Blogs » Binning freeholders will leave residents worse off Binning freeholders will leave residents worse offFollowing details of leasehold reform within the Queen’s Speech Michael Gaston, Managing Director of Estates and Management, argues that professional freeholders are about to become more important than ever.Michael Gaston16th January 20200877 Viewslast_img read more

Quickest and slowest selling areas of UK revealed

first_imgHome » News » Housing Market » Quickest and slowest selling areas of UK revealed previous nextHousing MarketQuickest and slowest selling areas of UK revealedSurvey reviews all regions of the UK and shows Hertfordshire as the quickest area to sell a home and Devon as the slowest – at more than a year.Richard Reed17th March 202001,256 Views A big regional variation has been revealed between the quickest and slowest parts of the UK to sell your home.The slowest selling time from sale to completion was more than a year, with Devon clocking up 397 days, while the quickest-selling area was Hertfordshire at 161 days.The figures were exposed in a survey by house sale comparison site Ready Steady Sell, based on its own data.The quickest selling areas after Hertfordshire were Norfolk at 180 days,and Durham and North Yorkshire at around the 210-day mark.Other quick areas included Lincolnshire, West Sussex, the Western Isles and Northumberland.In Wales, the quickest selling area found was Llandyrnog, with sales generally taking well below 250 days and the average number being roughly 190 days to completion.Slow SurreyThe slowest areas included leafy, affluent Surrey at 374 days, and Oxfordshire, Somerset and Cumbria on 324, 356 and 349 days respectively.Other areas that took longer than the average time to sell were Essex, Pembrokeshire, Barnsley, Stirling, Fife, Cornwall, Nottinghamshire and the Isle of Man.The slowest market in Wales was Bari Island, home to the much loved TV series Gavin and Stacey, where it took properties an average of 335 days to sell.With the list being such a mixed bag up and down the country, it begs the question is there a reason for the variations, and is there any correlation between the areas and/or the timing of the sale?“Very simply, no,” said a spokesman for Ready, Steady, Sell. “Although it’s apparent the place can affect the time of sale, that doesn’t seem to have anything to do with where it is on the map. Each individual town, city and region has its own property market that varies widely.”www.readysteadysell.co.ukfastest houses to sell ready steady sell slowest houses to sell house prices March 17, 2020Richard ReedWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Rightmove ‘revolt’ drives 1000s of agents to register with challenger portal

first_imgHome » News » Marketing » Rightmove ‘revolt’ drives 1000s of agents to register with challenger portal previous nextMarketingRightmove ‘revolt’ drives 1000s of agents to register with challenger portalHomesearch has seen the number of agents leap from 4,300 in March to over 7,000 today as the number of people hacked off by Rightmove has increased.Nigel Lewis26th May 202002,734 Views London-based challenger property portal Homesearch has claimed that the company has seen ‘hundreds’ of additional agents signs up after several of the key anti-Rightmove groups championed its service.Homesearch started out with just 107 estate agents in June last year but, just before the Coronavirus crisis hit the UK, had 4,300 agents from 1,400 estate agencies using its free housing data service, some of whom had converted to paid plans.Co-founder Sam Hunter says his company had originally battened down the hatches and expected the worst, but says the opposite happened and the company saw a surge in registrations. It now has 7,600 using its service.This, Hunter claims, is because many of the agents registered with the four Rightmove protest groups including Say No To Rightmove, have been seeking alternatives to the existing portals, and this lead Homesearch to begin developing its own property portal service for consumers.“These agents started encouraging us to take advantage of our new brand exposure, explaining that portal fatigue was real,” says Hunter (left).Homesearch says it is not seeking to compete with the big portals, and claims to be built and used in a different way and so, unlike other portals, does not need a mass of agents or portal customers in order to deliver its value.Industry consultant Andrew Stanton says: “Rightmove has failed to evolve and has become a one trick pony, demanding more and more money each year from agents but never evolving.“It took a pandemic to awaken agents, and now they are seeking fresh alternatives.”After initially saying it would launch on 1st June, Homesearch’s property portal is due to go live a month later on July 1st.Read our exclusive interview with the Homesearch founders.Sam Hunter Homesearch Rightmove May 26, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

35% of staff now want to work from home up to three days a week, survey reveals

first_imgHome » News » COVID-19 news » 35% of staff now want to work from home up to three days a week, survey reveals previous nextAgencies & People35% of staff now want to work from home up to three days a week, survey revealsLockdown has changed many employees attitudes to working from ‘the office’ as they warm to Zoom meetings and home working.Nigel Lewis10th June 20201 Comment1,068 Views Research has revealed that 35% of employees in the UK would now prefer to work home two to three days a week, it has been revealed.Also, the report suggests a sea change in attitude among some people to work with 60% of the 1,000 people canvassed saying they prefer virtual meetings on platforms such as Zoom and Teams than at the office.This, they say, is because they find virtual meetings less stressful and, until the Coronavirus dies away, less risky.Also, one in three felt less stressed while remote working; almost half of respondents believe their homes are a more relaxing work environment; and a further 36% consider themselves to be more productive.The survey, by tech PR firm Eskenzi, follows a recent research by a leading industry body that until the Coronavirus is over many companies are considering operating A and B teams, each working three-day weeks, in order to keep branches compliant with Covid-19 government guidelines on social distancing.“This study has shown that remote working ‘works’ and, more importantly, it can have a positive impact on people’s well-being, the community as a whole as well as the environment,” says Yvonne Eskenzi, CEO of Eskenzi PR.Sami Mubarak, founder of Birmingham firm MECS Sales & Lettings, says the lockdown has made him change his mind on remote working and that he’s now ‘completely relaxed’ about most of his staff working from home.“It’s been the best experience running the business remotely – even though we had no choice but to run it that way – and I’ve now bought all the staff their own laptops so they can work from home, which was a major investment,” he says.“During the first week after lockdown when, apart from the negotiators we were all working remotely MECS listed four properties and they’re all now under offer.Read more: Will estate agency return to normal when lockdown lifts. sami mubarak mecs remote working working from home Birmingham June 10, 2020Nigel LewisOne commentCambell Evans, Evans Bros Evans Bros 10th June 2020 at 10:09 am“36% consider themselves to be more productive”. So 64% (ie close enough to 2 out of 3) believed they were LESS productive.Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Thanks Rishi! Belvoir survives Covid helped by £250,000 of Covid government cash

first_imgBelvoir has survived Covid largely unscathed after slashing costs, £250,000 in government support and increased revenues from its acquisition of the 17-branch Lovelle estate agency network in December, its interim six-month results to 30th June reveal.The company, which controls a franchise network of over 170 offices which are largely lettings focused, saw its overall revenue increase by 8% to £9.8 million, of which 6% came from Lovelle.But its management fees from franchisees dipped by 1% and revenue from financial services dropped by 7%.The HQ operation saw an 8% increase in profits to £6.7 million and, on the back of this, increased its earnings per share by 16% to 7.3p.Belvoir has also been busy building its in-branch mortgage advisor network which now standards at 174, up from 136 a year ago.The company has also been more protected from the March to June Covid lockdown because 62% of its profits come from lettings, only 15% from sales while the rest come from financial services and other activities.CEO Dorian Gonsalves says franchisees focused in looking after their sales pipelines during the lockdown and its financial advisers switched to selling remortgage and income and life protection products.“Since our sector was ‘unlocked’ in May, both property sales and financial services activities have been at record-breaking levels for the Group in terms of instructions, sales agreed and written mortgages,” he says.“H2 started with further strategic progress through our alliance with The Nottingham Building Society.“In addition to taking on their estate and lettings agency business, a number of our franchisees will also have the opportunity to offer The Nottingham members high quality estate agency services from co-branded building society.”Read the presentation in full.Belvoir Dorian Gonsalves September 7, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Thanks Rishi! Belvoir survives Covid helped by £250,000 of Covid government cash previous nextAgencies & PeopleThanks Rishi! Belvoir survives Covid helped by £250,000 of Covid government cashCompany has also been cutting costs and enjoying higher revenues following the acquisition of the Lovelle agency network.Nigel Lewis7th September 20200607 Viewslast_img read more

Plans to force property portals to carry EPC certificates under fire

first_imgPropertymark has endorsed the government’s plans to make Rightmove, Zoopla and OnTheMarket play a greater role in transparency within the property market but has criticised Ministers’ proposals to make them carry proof of EPC certificates.The Government has been pushing the big portals to play a bigger part in aiding compliance and making the sales and rental markets more transparent for some time now.This has included attempts by the housing ministry and National Trading Standards to persuade portals to carry more statutory property information, as well as prevent portal juggling and prevent landlords stipulating ‘no DSS’ in adverts.But when it comes to EPCs, Propertymark says the picture is more complicated.“For instance, it is not common practice to advertise the tenancy type or whether the property has an exemption under the energy efficiency rules,” its submission to the government’s recently-ended consultation on tougher EPC regulations says.“Furthermore, rooms in shared accommodation are not required to have an EPC unless it is required for the property as a whole.Compliance“Private landlords cannot advertise directly on property portals, so based on the consultation document which states that around 43 per cent of landlords use a letting agent to either let or let and manage a property for them, this means the UK Government is focusing a large proportion of it is future enforcement activity and compliance on less than half of the sector.”Propertymark has also given feedback back on several other issues related to EPCs, including how forcing landlords to reach EPC band C by 2028 for their rented properties is ‘unrealistic’.Read its full consultation submission.National Trading Standards MHCLG Energy Efficiency Rating EPCS January 21, 2021Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Plans to force property portals to carry EPC certificates under fire previous nextRegulation & LawPlans to force property portals to carry EPC certificates under fireTrade association applauds official plans to make portals increase compliance in market, but questions mandatory EPC display.Nigel Lewis21st January 202101,242 Viewslast_img read more