Fever-Tree IPO: Charles Rolls and Tim Warrillow are cracking open the bubbly for a market debut

first_img whatsapp Show Comments ▼ Share Tuesday 4 November 2014 8:37 pm When boom turns to bust, it can be best to keep your head down, get back to work and wait for a better time to dive into choppy waters.Plenty of other firms have had second thoughts about their flotations in recent week, as the frenzy of earlier months gave way to a market slump. Businesses trying to go public pulled the plug if they had openly stated their plans, or quietly shelved initial public offerings (IPOs) which had yet to make it into the public domain.But not Charles Rolls and Tim Warrillow, the pair who founded upmarket tonic water firm Fever-Tree.“Half way through the process, we heard it was a bad idea to float a business of our size,” said Rolls.“We did put in a couple of calls to Investec, but they were very confident all the way along. They said we would get a lot of blue chip investors, come what may in the markets.”But that does not mean it was an easy few weeks to round up the investors needed to pay a total of £93m for the 60 per cent free float in the business.“We spoke personally to the investors – we must have done the same presentation 68 times over a couple of weeks,” said a somewhat tired-sounding Warrillow.The pair certainly had a big personal incentive to get a good price for the stock.Although other investors had previously come in – Lloyds Banking Group’s private equity arm LDC bought a stake in 2012 – the two founders sold a stake amounting to around 16 per cent of the firm’s shares.That netted them roughly £25m, which is not bad for a nine-year old business.Does that mean they are planning to step back from the firm? They promise not to.“We like our firm. We’ve still got a large share in the firm,” said Rolls.“The vast majority of our wealth is still in the business, and if it grows in the way that we think it will… well, that is very motivating.”The deal raised £4m in new funds, with the majority of shares sold coming from management and existing investors.The extra funds should clear the firm’s debts and, the founders say, prepare the way for more growth.So far Fever-Tree sells into 50 countries, with a UK workforce of just 25 – the manufacturing and other elements are outsourced.The pair hope that it could eventually have “a good market share” in at least 10 of those.The Alternative Investment Market (AIM)-listed stock begins open trading tomorrow.“We are going to the London Stock Exchange, so that is when the celebrating starts for all the staff,” said Warrillow.“We will open a bottle of tonic over all the brokers, really spray them with it.” center_img whatsapp Tags: IPOs Tim Wallace Fever-Tree IPO: Charles Rolls and Tim Warrillow are cracking open the bubbly for a market debut last_img read more

Aldi gives us a Lidl bill of the week for Christmas #FestiveFeast with chef Jean-Christophe Novelli

first_img Tags: Aldi Lidl by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHero WarsThis game will keep you up all night!Hero WarsTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorElvenarIf You Like to Play, this Fantasy Game is a Must-Have. No Install.Elvenar whatsapp whatsapp Monday 24 November 2014 9:07 pm Gabriella Griffith Aldi gives us a Lidl bill of the week for Christmas #FestiveFeast with chef Jean-Christophe Novelli Share Show Comments ▼ The Cotes du Rhone and Riesling were free-flowing at terribly trendy Home House members club last night, but it wasn’t serving its usual crowd.  Discount supermarket warrior Aldi was hosting its #FestiveFeast, along with celeb chef Jean-Christophe Novelli – serving a five-course Christ­mas meal to a room full of customers who won their seats on social media (and a handful of lucky journos, of course).   Aldi is hosting five of these events in total. Having been in Glasgow’s Blythswood Square Hotel on Friday, it’s off to Newcastle on Wednesday, Manchester the following Monday and then Birmingham two days later.  The menu looked delightful, including turkey wellington, highland cheeses and king crab with “specially selected caviar points.”  But The Capitalist did get a sense of déjà vu when looking at the “bill”, left on each of the tables pointing out how very affordable the whole smorgasbord had been (£20.35 per person FYI).  Back on 28 August, it had done almost the exact same thing, for its #LidlSurprises dinner at the V&A, where dinner had come to £9.96 per head.  Sorry Aldi – you’re not the first to tempt guests with this Lidl surprise.  last_img read more

In pictures: Battersea Power Station’s Malaysia Square is a stunning new public space

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramHero Wars This game will keep you up all night! Hero Wars MoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus Eliminator In pictures: Battersea Power Station’s Malaysia Square is a stunning new public space Lynsey Barber whatsapp (Source: Battersea Power Station Development Company) A new part of the massive redevelopment at Battersea Power Station has been revealed for the first time.Plans for Malaysia Square, a huge public space at the entrance to the famous power station towers, were unveiled by the Malaysian Prime Minister Najib Razak and London Mayor Boris Johnson on a visit to the Malaysian capital Kuala Lumpur.Architect firm Bjarke Ingels Group won the competition to design the space, chosen by Malaysian owner Battersea Project Holding Company.The sweeping space will link the renovated building with the new Electric Boulevard development where a host of new homes, shops, cafes, bars and restaurants are being built.The space will have a two-level “urban canyon” with stairways and bridges inspired by the Malaysian landscape and includes limestone, granite, marble, sandstone, gravel and dolomite cladding to represent the materials found in the country and inspired by Gunung Mulu National Park.There will also be a hibiscus-shaped fountain in the centre of the space representing Malaysia’s national flower.(Source: Battersea Power Station Development Company)“Bjarke Ingels Group’s concept will ensure that this incredible project has a dynamic public square that offers Londoners and visitors an inspirational experience that will live long in the memory, “ said Johnson.“The innovative and thoughtful concepts underlying the creation of Malaysia Square honours the heritage and shared history of two nations to form a vibrant and exciting public space for residents and visitors to meet, mingle and shape the future together,” said Battersea Project Holding Company chairman Liew Kee Sin.”It is the shareholders’ fondest wish that this will become an enduring landmark which celebrates the best of global East-West collaborations while giving every Malaysian who visits this spot in Central London a true sense of belonging and reminder of home,” added Liew. Share whatsapp Monday 1 December 2014 10:48 am Show Comments ▼ Tags: Battersea Power Station bridges and landmarks London buildingslast_img read more

Uber driver held in India over rape allegations after woman reports assault in Delhi

first_imgSunday 7 December 2014 11:49 pm Show Comments ▼ Share Uber driver held in India over rape allegations after woman reports assault in Delhi whatsappcenter_img Controversial ride hire service Uber was back in the spotlight yesterday after Indian police arrested an Uber cab driver suspected of raping a female passenger and said they would take legal action against Uber for failing to run background checks on him.Police opened an investigation after a 26-year-old woman reported that she had been sexually assaulted and beaten later on Friday evening after hailing a ride home with the Uber driver in south Delhi. The suspect will be brought before a New Delhi court today, according to the Delhi police deputy commissioner Madhur Verma. Verma said the police would take legal action against Uber for violations including a failure to check whether the driver, named as Shiv Kumar Yadav, had a clean police record and the lack of a satellite location device in his car. Uber has faced critical news coverage over comments by a US executive who suggested “digging up dirt” on journalists investigating the firm. That has not stopped the San Francisco-based firm from raising investment that values it at $40bn (£25.6bn), reflecting the potential of its expansion into high-growth markets like India. Uber said in a statement yesterday that it had suspended the driver. “In India we work with licensed driver-partners to provide a safe transportation option, with layers of safeguards such as driver and vehicle information, and ETA-sharing to ensure there is accountability and traceability of all trips that occur on the Uber platform,” said Uber. Tags: Uber whatsapp Oliver Smith last_img read more

Tesco’s share price has plummeted 50 per cent and it’s now the year’s second biggest FTSE 100 faller

first_img Tesco’s share price has plummeted 50 per cent and it’s now the year’s second biggest FTSE 100 faller Share whatsapp Sarah Spickernell Tuesday 9 December 2014 11:03 am This morning, Tesco issued its fourth profit warning of 2014, saying profit for the financial year ending February 2015 would not be greater than £1.4bn. This is much lower than its estimate of £2.4bn- £2.5bn in August.But in September, the supermarket chain revealed that it had overstated its profits for the year by £263m, sending profit estimates down and shares plummeting.  Once more, shares are suffering as a result of the company’s failure to accurately predict its end of year results, with shares currently down by 6.91 per cent at 174 pence compared to yesterday. During early morning trading, just after the warning was issued, shares were down by as much as 14 per cent.The biggest annual fall in 14 yearsThe latest fall means Tesco’s overall share price decline for the year so far has been 50 per cent, making it the second biggest faller on the FTSE 100. Tullow Oil, whose shares have gone down by 54 per cent since the start of 2014, fell by the most.  For Tesco, this fall in share price surpasses any year-on-year decline it has experienced since the turn of the century.  The closest match was in 2000, when there was a decline of 45 per cent compared to the previous year, but since then the company has either experienced share price rises or minor share price falls, such as a 16.7 per cent increase in 2012 and a 0.5 per cent decrease in 2013.  The below chart traces Tesco’s rise and fall since 2008 (click to view an image which can be zoomed in on mobile).  center_img Tags: Company FTSE 100 whatsapp Show Comments ▼ last_img read more

Jaeger latest upmarket retailer to stride ahead of high street

first_imgFriday 9 January 2015 10:18 am Jaeger latest upmarket retailer to stride ahead of high street whatsapp Jessica Morris Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoHero WarsAdvertisement This game will keep you up all night!Hero WarsUndoTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDUndoThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickUndo Show Comments ▼ Fashion retailer Jaeger strode ahead of its high street competitors, reporting stellar sales during the Christmas period.The upmarket brand said like-for-like sales jumped eight per cent in the 13 weeks to January. They were lifted by US-style discount days Black Friday and Cyber Monday. Total sales grew 8.3 per cent, with menswear posting impressive growth of 14 per cent year-on-year. Womenswear rose six per cent during the same period largely thanks to surging cashmere sales.Its flagship store on the exclusive Kings Road in Chelsea benefited from a revamp last September, with sales climbing 16 per cent. Online sales surged 78 per cent while click-and-collect was the star performer with an 82 per cent increase.Ted Baker, also priced at the higher end of the high street, delivered excellent Christmas sales yesterday. It had snubbed the discounting frenzy by not making any big discounts to goods before Christmas.Clothing brands Next and M&S have cited unseasonable weather as the reason behind disappointing Christmas trading statements.Jaeger admitted it made price cuts in Autumn as warm weather kept customers away from the high street.Jaeger chief executive Colin Henry said:The consumer environment remains challenging, and there is still a lot of work to do transforming our store portfolio, building the brand and refining our online and in-store offer.However, this performance gives us confidence as we enter 2015 and continue to develop the Jaeger brand and progress with our strategy.Then loss-making Jaeger was brought by Better Capital in April 2012 after its sister company Aquascutum went into administration. The pair had previously been owned by famous fashion entrepreneur Harold Tillman.Since then its five-year revival plan has sought to boost brand appeal by tapping into its British heritage. It has also reintroduced quality fabrics, invested online and revamped stores. whatsapp Tags: NULLlast_img read more

Man arrested after two women left hospitalised by falling object on Eldon Street in the heart of the City

first_imgTuesday 20 January 2015 10:34 am Man arrested after two women left hospitalised by falling object on Eldon Street in the heart of the City by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDVikings: Free Online GameIf you’re over 50 – this game is a must!Vikings: Free Online GameUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive Supplement Share A man has been arrested after two women were seriously injured when a section of scaffolding fell on them as they walked down a City street today.  An object – said by witnesses to be a metal pole – fell on the two women who were walking down Eldon Street, near Liverpool Street station, shortly before lunchtime. The women have been taken to hospital with serious head injuries caused by a “falling object”, a City of London police spokesman told City A.M.  The man has been arrested for GBH. Investigating police are currently speaking to witnesses to determine what happened.  https://twitter.com/CityPolice/status/557542808949882880 One eyewitness, City trader Michael Jarman, tweeted that there was “blood everywhere”. https://twitter.com/MichaelMJarman/status/557507548019183617 A spokesman for the London Ambulance Service said: “We were called at 11.47 to reports of an incident in Eldon Street, EC2. “We sent a number of resources to the scene, including an advanced paramedic and a medical team from London’s Air Ambulance by car to the scene. “We treated two women, reported to be in their 50s, for head injuries. They were taken to the Royal London Hospital as a priority”.  Catherine Neilan whatsapp Show Comments ▼ Tags: NULL whatsapplast_img read more

Greek debt fear makes banks drag FTSE down – London Report

first_img Share Express KCS Greek debt fear makes banks drag FTSE down – London Report whatsapp BANKS led the FTSE 100 index lower yesterday as they slipped on concerns the Greek crisis could spread while miners fell with weaker metals prices.It ended the blue-chip index’s eight-session run to a four-month high on Monday. Mid-cap oil producer Afren plunged 71 per cent after saying it was in talks with its largest bondholders over its liquidity and funding needs.The benchmark FTSE 100 index ended 0.6 per cent lower at 6,811.61 points, also reacting to UK data showing gross domestic product (GDP) grew more slowly than expected in the last quarter of 2014.“UK markets were hit by broad-based selling after UK growth estimates slipped … with banks leading the declines under threat of a looming crisis in Greece spreading across the financial system,” Jasper Lawler, analyst at CMC Markets, said.The UK banking index fell 1.2 per cent, tracking a 11.7 per cent fall in Greek banks to a record low, on worries Greece’s new anti-bailout government would clash with the European Union over the nation’s debts.Barclays, Royal Bank of Scotland and HSBC dropped 0.5 to 1.8 per cent, with traders citing news of UK banks facing hefty mis-selling claims as one reason for their weakness.Around two million Britons who may have been mis-sold insurance to cover events such as credit card fraud will be asked to vote for a scheme that could cost banks hundreds of millions of pounds in compensation.But some analysts were positive on the broader market’s prospects.“The FTSE is seeing some profit-taking … However, (it) is flirting with levels seen last year,” said Jawaid Afsar, a trader at Securequity.The UK mining index fell 0.4 per cent as copper prices dropped 2.8 per cent on concerns of slowing growth in China, weak US business investment and rising metal inventories. Aluminium prices were down more than one per cent.The UK Oil and Gas index also fell, down 0.4 per cent.“Oil prices are causing a great concern for some investors. People are getting into the mindset that there isn’t going to be a quick fix,” David Battersby, investment manager at Redmayne-Bentley, said.Centrica climbed 4.2 per cent to 280.08p after Credit Suisse raised its stance on it to “outperform” from “neutral” and increased its target price to 310p, up from 290p. More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comcenter_img Show Comments ▼ whatsapp Tuesday 27 January 2015 8:39 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyUndoBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndoVikings: Free Online GameIf you’re over 50 – this game is a must!Vikings: Free Online GameUndoBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach RaiderUndo Tags: Company FTSE 100last_img read more

General Election 2015: Tories look to build on coalition record with right-to-buy extension

first_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comKansas coach fired for using N-word toward Black playerthegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com Express KCS General Election 2015: Tories look to build on coalition record with right-to-buy extension whatsapp Share whatsappcenter_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunUndoComedyAbandoned Submarines Floating Around the WorldComedyUndoGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndoBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushUndoNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyUndo The Conservatives will today put Britain’s housing crisis at the centre of their election campaign, pledging to boost the supply of new homes and extend the right-to-buy policy to housing association tenants.Prime Minister David Cameron will use the official manifesto launch to argue that the Tories are “the party of working people”. He will point to the coalition government’s record of achieving all-time-high employment levels, boosting training for young people and encouraging saving. “My message to Britain is this,” he is expected to say. “We have come this far together. Let’s not waste the past five years. Now is not a time to put it all at risk, but to build on the progress we have made.” Building houses makes up a core part of the manifesto, with Cameron saying that a Tory government would provide the funding for 400,000 new homes on brownfield land over the next parliament. The plan would involve local authorities bidding for chunks of a   £1bn fund, using the money to clean up brownfield sites and develop the infrastructure necessary for homes to be built on the land. Additionally, Margaret Thatcher’s famous right-to-buy scheme – which allows tenants in council houses to buy their homes – will be extended to housing association tenants. The Conservatives say the plan will give 1.3m families the chance to own their own homes. Each home sold under the scheme will be replaced with a new property, the manifesto promises. To pay for the replacement homes, and to fund the brownfield projects, the Conservatives say they will force local authorities to sell off vacated properties “which rank among the most expensive third of all properties of that type in their area.” “No-one will have to move house,” the party promises. The plans were met with a mixed reception by housing activist groups last night. “Investing to get brownfield ready for development is welcome, but we would urge the Conservatives to focus this spending in the areas like London where house prices are the most unaffordable for working people,” said Priced Out’s Duncan Stott. “In order to get the homes we desperately need built, we must look to both brownfield and greenfield sites,” Stott added. However, the Tory manifesto will instead pledge to protect the greenbelt from developers. Yesterday Eric Pickles, who served in the coalition government, argued that Ed Miliband’s party would differ in its approach to greenbelt land. “Labour Party drops protection of greenbelt from its manifesto,” Pickles tweeted. “Was in 2010 but no mention in today’s manifesto.” Miliband denied the charge at a separate news conference, however, insisting that a Labour government would “put brownfield first and to restore the brownfield first principle.” The Conservatives’ plan to extend right-to-buy faces criticism over the potential taxpayer cost of the scheme, meanwhile. “We fully support the aspiration of homeownership but extending Right to Buy to housing associations is the wrong solution to our housing crisis,” said Ruth Davison of the National Housing Federation. “A very conservative estimate of this policy puts the cost to the tax payer of at least £5.8bn – no paltry sum in times of austerity and a figure that could grow into the tens of billions as more people become eligible,” she added. Visit our General Election poll tracker to see how each party is faring in the build-up to 7 May.   Show Comments ▼ Monday 13 April 2015 9:34 pm Tags: General Election 2015last_img read more

General Election 2015: Rent controls pledged by Labour to woo “generation rent”

first_img Show Comments ▼ General Election 2015: Rent controls pledged by Labour to woo “generation rent” Lynsey Barber Ed Miliband is seeking to woo a generation of voters priced out of the property market with a promise to stop landlords making significant increases to rents.The Labour leader has pledged to cap rent rises at no more than the rate of inflation over the term of a three-year tenancy if elected at the General Election which is less than two weeks away. “Generation rent are the young, families with children and middle income earners who being are priced out of the housing market,” said Miliband. “Labour will build the homes which local people want to buy. But we will never turn our backs on generation rent. And we want to encourage all those responsible landlords who provide decent homes for people and stable income for themselves.”The party will also force landlords and letting agents to become more transparent and disclose the rental price paid by former tenants and so-called “rogue landlords” who fail to offer basic standards of living in their properties will be penalised with a reduction in buy-to-let tax relief.The plans are an extension of previous pledges made by Labour to address the rental market which includes longer term tenancies of three years, a ban on letting agent fees and a national register of landlords.The last minute promise was widely criticised when the Labour party raised the prospect of rent controls last year. The Royal Institute of Chartered Surveyors (Rics) called the idea “ill-thought through”, warning that it risked damaging the supply and quality of rental homes on the market.In a paper last year the Institute of Economic Affairs warned rent controls could result in higher prices.More than 1.3m households in the UK are privately renting, paying on average £902 per month across the UK and in London £1,427. In the past year, the cost of renting has gone up 10 per cent.  Sunday 26 April 2015 3:43 am whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesComedyAbandoned Submarines Floating Around the WorldComedyGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift Verdict whatsapp Share Tags: General Election 2015 UK house priceslast_img read more