The discovery report - bulletin 2017

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The discovery report - bulletin 2017

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Welcome back to the next instalment of the Voltaire Financial bulletin.  We are pleased to return with another snapshot of topical real estate issues, thoughts and commentary from different members of the team and a roundup of recent successes across varying funding structures. To view and download the full report click here

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Voltaire @ Mipim

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Voltaire @ Mipim

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14-17 March 2017 - Cannes, France

James Thomlinson and Andrew Hosford of Voltaire Financial will be down in Cannes for the 2017 MIPIM property conference from the 14th to the 17th of March.

Please email James (james@voltairefinancial.com) or Andrew (andrew@voltairefinancial.com) directly or contact us on the below details to arrange a meeting for a catch up.

Voltaire Financial focuses on arranging finance for property investors and developers across all asset classes. For further information visit our website at voltairefinancial.com or contact Dorothée Queyroux, James Thomlinson or Andrew Hosford on:

+44 (0) 207 182 1740
or by email at: info@voltairefinancial.com

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voltaire @ mipim

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14-18 March 2016 - Cannes, France

James Thomlinson and Andrew Hosford of Voltaire Financial will be down in Cannes for the 2016 MIPIM property conference from the 14th to the 18th of March.

Please email James (james@voltairefinancial.com) or Andrew (andrew@voltairefinancial.com) directly or contact us on the below details to arrange a meeting for a catch up.

Voltaire Financial focuses on arranging finance for property investors and developers across all asset classes. For further information visit our website at voltairefinancial.com or contact Dorothée Queyroux, James Thomlinson or Andrew Hosford on:

+44 (0) 207 182 1740
or by email at: info@voltairefinancial.com

    

 

 

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The Discovery Report- Bulletin 2015

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The Discovery Report- Bulletin 2015

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Voltaire Financial have the pleasure in presenting our inaugural half yearly bulletin.
To view and download the full report click here

 

Sector Focus: The changing face of residential development finance by James Thomlinson

Hand in hand with the move away from super-prime property comes a shift in focus from zone 1 London into zones 2-6 and beyond; within Greater London still represents most lenders’ geographical sweet spot. However a growing number of lenders are prepared to look farther afield and in some cases venture deeply into the regions including the South West and North East. 
There is no doubt that sentiment will continue to change during 2016 and in many ways this will be welcomed by the marketplace. The recent announcement that permitted development rights will be extended beyond the current deadline of May 2016 will maintain the fuel for what has been a very feasible type of development. We look forward to seeing what else the new year will bring.

 

Guest Article: Don’t get left in the dark; Problems arising from rights of light by Ian Rowson, Partner Head of Real Estate Freeths LLP London

Until the law is reformed, rights of light are still a topic that need to be treated with extreme care in the context of large-scale development and regeneration schemes in built up areas.  Whilst the Law Commission has put forward certain proposals to significantly reform the law and one of the Judges in the Supreme Court called for reform in the Lawrence Case, a great deal of uncertainty still exists.  In practice, because of the Heaney Case, rights of light are very difficult to obtain title insurance cover for. 

For the time being on large schemes involving public sector bodies, the safest and most practical option appears to be to persuade the local authority to utilise its powers under s237 of the Town & Country Planning Act.

 

Tax Update: A brief guide to annual tax on enveloped dwellings (ATED) by Brian Dunk

Finance Act 2013 introduced a new annual tax on ownership of high value residential property held by non-natural persons.

The tax, known as the annual tax on enveloped dwellings (ATED), applies to residential dwellings owned by companies, partnerships (including limited liability partnerships) where there is a corporate partner and also collective investment vehicles. 

 

Bridging Trends: ‘Bridge to Market’ by Andrew Hosford

There are a number of reasons that property developers need or want to increase the length of their development facility.

Cost overruns, planning enhancements or revised internal layouts and long periods of bad weather to name just a few. Though these factors are clearly not always developer faults and certainly not all negative issues, development lenders are often reluctant to extend their loans regardless.

 

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Voltaire Special Opportunities

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Voltaire Special Opportunities

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Voltaire Financial has established an origination partnership for asset-backed special opportunities with a prominent European investment fund.

The fund provides loans or investments over short and medium terms of typically between £10-50m through a fully discretionary fund vehicle.

Significant flexibility exists to structure facilities appropriately according to the transaction, including development, restructuring and acquisition or growth capital. As an illustration this enables monies to be drawn in stages and interest to be serviced current or rolled up. Up to 100% loan-to-cost may also be available if security over additional assets can be provided.

A £50m facility was closed in May 2015 - the first originated by Voltaire for the fund partner - with a further £95m currently in the pipeline.

All real estate asset classes will be considered including residential, office, industrial, care, social housing, hotel, land and development. Appetite also exists for other hard and financial assets such as invoices, claims and distressed loans.

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Contact
Phone: +44 (0) 207 182 1740
E-mail: info@voltairefinancial.com
Website : www.voltairefinancial.com 

Voltaire Financial LLP 3rd floor Moss House 15-16 Brook's Mews Mayfair, London W1K 4DS

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Voltaire financial advises social housing specialist on major portfolio expansion

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Voltaire financial advises social housing specialist on major portfolio expansion

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As part of an ambitious expansion plan, Caridon Property Services, advised by Voltaire Financial, has closed a financing transaction with RoundShield Partners, to support its social housing portfolio expansion to 5,000 residential units under management within the next five years. 

Voltaire Financial has an exclusive sourcing relationship for asset-backed special opportunities with RoundShield Partners.

Roy Ledgister of Caridon said: “There is a huge need for high quality, social housing in London and the financing package that RoundShield Partners has provided will allow us to take advantage of opportunities within this market. This significant investment, will allow us to substantially expand our portfolio and investment platform over the next couple of years.” 
Dorothee Queyroux of Voltaire Financial, who advised Caridon in relation to the financing and structuring of the transaction, added: “Caridon has built its reputation by developing and managing top-quality social housing in areas of London that need it most. While the potential for this market is huge, it is a sector that has been overlooked by many investors.
“RoundShield Partners, with whom Voltaire Financial has an established and exclusive sourcing relationship for asset-backed special opportunities, will provide Caridon the necessary financial support to capitalize on this significant market opportunity”. 
Voltaire focuses on arranging property finance for investors and developers across all asset classes.

In England there are approximately 1.4 million households on council waiting lists for social housing, more than 250,000 of which are in London. On the supply side, only 50,000 homes were built or acquired by Local Authorities and Housing Associations on average in each of the last ten years and this is not expected to increase going forward. This has left a significant shortfall of housing for council tenants, which needs to be filled by private landlords. 
With the support of its new financial partner, Caridon has recently completed the purchase of a vacant office building in Crawley. Over the coming months the property will be converted into residential apartments that will be let primarily to the social sector. In addition, Caridon is in the process of acquiring several other properties with similar characteristics.
 

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Contact
Phone: +44 (0) 207 182 1740
E-mail: info@voltairefinancial.com
Website : www.voltairefinancial.com 

Voltaire Financial LLP 3rd floor Moss House 15-16 Brook's Mews Mayfair, London W1K 4DS

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