The recent ‘auction’ of Shakespeare’s Birthplace caused quite a stir as Shakespeare’s Birthplace Trust re-enacted the original auction that took place in 1847 when the building at that time was sold for £3,000 to secure it for the nation.
SBK and Shakespeare’s Birthplace Trust launched a spoof promotional video prior to the auction providing viewers with a virtual tour of the building and the ‘particulars for sale’. The video had thousands of views from Shakespeare fans all over the world and generated dozens of comments on social media.
Actors in authentic Shakespearean dress staged the auction in Henley Street to the delight of onlookers but we are pleased to say that the auction was purely for show and the Birthplace is still safely in the hands of The Shakespeare Birthplace Trust.
James Walton, Director of SBK said “All at Sheldon Bosley Knight were delighted to be able to play our part in the ‘special’ auction of Shakespeare’s Birthplace.
I was amazed to learn that the building had been purchased at auction 170 years ago for £3,000, a great deal of money then. We have a long association with the Shakespeare Birthplace Trust and have been their property management agents for many years.”
The latest findings from ARLA paint a positive picture for renters nationwide. The supply of rental stock has risen over the past 10 months, which suggests that reports of landlords pulling out of the market as a result of the referendum result or changing tax regime are not accurate.
This is supported in ARLA’s findings, which reveal the number of landlords selling their buy-to-let properties hasn’t changed since April.
Across our three lettings offices in Stratford upon Avon, Shipston and Leamington Spa we have not seen an oversupply of rental property but it is noticeable that tenants are remaining in rental properties for longer and are less inclined to move on, meaning that less properties are available. In normal circumstances this would create an opportunity to increase rents but currently it is also noticeable that rents in Stratford, for example, are not rising as they have done in previous years and any available properties must be priced sensitively in order to find good tenants within an acceptable timeframe. The advantage for landlords of this stability is that they avoid unwelcome void periods between tenancies.
We wait with interest to see the impact of increases in the taxation of landlords who have buy-to-let mortgages attached to their homes. Market experts are divided about the potential impact of the changes but Rightmove said that during September, buyer enquiries from potential landlords and investors were up 30% compared with May, after a short-term dip after the stamp duty changes came into force in April.
We are, however, confident that 2017 will bring new growth to the rental market. With various properties in the pipeline and growing rental yields, the buy to let market is still a good choice for investors in our areas.
We look forward to the next wave of investment properties hitting Stratford, Shipston, Leamington and Kenilworth’s rental markets and making sure Sheldon Bosley Knight Ltd are well placed with our skills, knowledge and expertise to take on the management of these properties. The team at Leamington has been further strengthened recently with the addition of Marc Martin, Rebecca Jones & Faye Mulkeirins who bring with them a wealth of knowledge and experience.
We were delighted to welcome Sir Tim Rice to Stratford as the concluding event in the the Stratford Literary Festival Autumn Plus programme 2015.
Members of Sheldon Bosley staff and our competition winners enjoyed a fascinating evening as Sir Tim took us through his amazing career.
He collaborated with such musical legends as Andrew Lloyd Webber, Elton John and ABBA’s Bjorn Ulvaeus and Benny Andersson on a number of blockbuster successes including the huge blockbuster successes Joseph and the Amazing Technicolor Dreamcoat, Jesus Christ Superstar, Evita, Chess and The Lion King.
Well done to the three lucky winners who won our recent competition to see Sir Tim Rice in Conversation at the the Arts House in Stratford upon Avon on 1st November.
Each winner was presented with a pair of front row tickets and pictured here are two of our winners, Michelle Dale receiving her ticket from Sue James (left) and Caroline Day receiving her ticket from Annie Vincent (below).
On learning that she had won, Michelle said, “Really thrilled to win these tickets. Especially as I was in the Bill Kenright production of Joseph at the RSC when I was 11 (many years ago!)”
Our third winner was Alistair Price who is pictured with the rest of the winners and guests.
Congratulations to all of the winners and hope you enjoyed the show as much as we did!
The Association of Residential Letting Agents (ARLA), stated in the summer that their members had reported across the board that the number of available rental properties had increased and demand had dipped.
However, this is at odds with the evidence that Sheldon Bosley’s Lettings departments have witnessed.
Private rented property remains at a premium and the number of prospective tenants remains high for each new property to the market. With demand high, we are constantly looking for high quality rental property to help the housing shortage in Stratford upon Avon and South Warwickshire in particular.
As we reported in our last newsletter, there is generally a harmonious, friendly and respectful relationship between landlords and tenants, with many people saying they believe they pay a fair price in rent and the majority saying they have a good or very good relationship with their landlord. So the old ‘them & us’ attitude seems to be becoming a thing of the past and the whole tenancy being seen as a business transaction which, if carried out correctly, is beneficial to all parties. This being so, now could be the time to enter the market as an investor.
For advice on any aspect of becoming a landlord client, please feel free to contact either our Stratford lettings team on 01789 292310 or Shipston on 01608 661666.
Three superb properties will be going under the hammer on Thursday 12th November 2015.
Commencing 6.30pm, the auction will take place at the Ingon Manor Golf & Country Club, Ingon Lane, Snitterfield CV37 0QE under the capable hands of Auctioneer James Walton, FRICS FAAV, Partner at Sheldon Bosley and a RICS Registered Valuer.
The following properties will be for sale:
Collyers Oak Farmhouse, Fillongley Road, Fillongley, Coleshill
3 bed detached farmhouse. Solid and picturesque Grade II Listed property offering the opportunity, with sensitive restoration and renovation, to create a lovely family house with substantial gardens, paddock and outbuildings. Click here for details.
Guide Price: £675,000
10 Church Lane, Shottery, Stratford upon Avon, Warwickshire
This 2 bed mid-terrace cottage represents a rare opportunity to acquire an affordable ‘project’ in one of the most popular locations around Stratford upon Avon. As either a home or an investment, number 10 offers various renovation possibilities subject to the appropriate permissions, and there will undoubtedly be considerable interest in the property. Click here for details.
Guide Price: £200,000
Burnside, Church Lane, Shottery, Stratford upon Avon
The property dates from the 19th Century with later period additions, and comprises six self-contained dwellings all let on Assured Shorthold tenancies except one which is unoccupied. Communal gardens and car parking in separate timber garage block. Gross rental income approximately £51,000 p.a. Click here for details.
Guide Price: £1,200,000
For details click the link provided for each property or alternatively call our offices on 01789 292 310.
After 43 years with Sheldon Bosley, Jim Richardson has now stepped down from the Partnership, but will continue an active role with the company as a Consultant to our Planning & Architectural Services team.
Over the years Jim has developed extensive knowledge and experience involving a wide range of property-related matters across the local area, and in recent years has specialised in offering advice on boundary issues, Party Wall matters and advice on property extension, alteration and development.
Jim is a respected authority in these areas and has a wealth of local knowledge to ensure his recommendations are appropriate, practical and in the clients’ best interests. We are therefore delighted that he will maintain his links with the firm and that we will continue to benefit from his expertise via his new role as consultant.
We had a little gathering to mark this important milestone and we all enjoyed a celebratory lunch. The cream teas and fizz went down particularly well – not sure what the office productivity levels were like in the afternoon!
This is a question asked by many new landlords when I first meet them. When planning a refurb, or merely preparing a property ready for the open market, it is difficult to find the right level to aim for. How you present a property largely affects and influences the type of tenant that takes it. If the property is scruffy or grubby you will normally find that the ‘fussy’ tenants discount it completely. You will therefore end up with tenants that are not so fussy about their surroundings, which is not ideal. You may have heard of the saying ‘scruffy property, scruffy tenants’. On the other hand if a property is in good order, with up to date fittings and presented in a clean condition, then you will find it will appeal to the more fussy tenants. These are the tenants you want as they will end up looking after your investment in a much better manner. Tenants also do tend to stay longer if the property is comfortable to live in.
Don’t over-do your property
Many landlords also make the mistake of over-doing their property. It is key to make sure a refurb is planned in line with the type of property and with consideration to the typical group of potential tenants it would appeal to. For example, a two bedroom maisonette in the centre of town is likely to appeal to a young couple or single occupant. This does not need a high end finish. A mid range finish will suffice in this instance. If you were renovating a large detached family home, the expected finish would be for a higher standard and specification and this would be appropriate to the market you would be aiming for, typically a professional couple with children. It is also important to ensure the fittings you install are of a good standard, as cheap fittings never last. You need something that is fit for purpose and will withstand wear and tear.
I see many landlords getting this wrong and we can help with any level of advice you may require, even down to managing the entire project for you. For assistance please call Sue on 01608 665473 or Michael on 01789 206760.