Another company to bring 400 new jobs to Dunstable as companies continue to see its growing potential.
More than 400 jobs will be created in Dunstable after a Chinese company signed on the dotted line for premises in Prologis Park Dunstable.
Prologist has today announced it has leased 240,000 Square Feet to 4PX which is China’s leading cross-borders e-commerce solutions provider who works with companies such as eBay, Amazon and Alibaba.
The company is expanding its operations in the UK and the new facility at Prologis Park Dunstable will be an import, storage and distribution centre for its UK and European operations.
The regional General Manager of 4PX Europe Henry Qi stated “Dunstable has a skilled logistics workforce and Prologis has provided a distribution centre that is exactly the right size and specification for our business.”
The distribution centre will be operational in time for Christmas deliveries and 4PX anticipates that the new operation will bring up to 400 jobs to the town by early 2017.
Andrew Griffiths, managing director of Prologis UK also commented “We believe that Dunstable is a strong location for the logistics sector, and we have invested in the town because it offers some of the best opportunities for our customers in the South East market.”
Prologis Park Dunstable is close to Junction 11 of the M1 motorway, which provides easy access to the national motorway network.
4PX is only one of a number of companies that have opened in Dunstable or expanded their existing operations in recent years bringing more employment and workers to the town which in turn has seen more small businesses open in the town centre.
Will Brexit be good or bad for property Investors? Will interest rates go down even more? Are landlords going to be taxed out of existence?
FREE invitation to the July Luton Property Investors Network (PIN) Meeting – Tuesday 26th July – Meet new and experienced landlords and investors.
Come along to next week’s Luton pin meeting to get your fill of property knowledge, find out what others are thinking and doing, and get a dose of positivity amongst some of the nonsense going on around us.
Development Finance – top tips to acquiring the right finance for property developments – Howard Bowes
Howard Bowes, managing director of Harvey Bowes Limited, award winning mortgage brokers and a property investor himself, will share some top tips on securing finance for property developments. Howard will show this by breaking down a case study of the development of a tired block of flats, where the value add included development and a title split. The lender provided not only the funds to secure the building, but also 100% of the development cost. Whether a property investor is looking to develop from the ground up – or undertaking a large refurbishment, this presentation will offer great value in securing the right funding for the project.
ALSO…. Find out why adding value to property attracts investors and JV partners – Dick Dabner
Find out how to unlock the hidden value and re-think your approach to existing buildings, making more money for you and your investor partners – Peter and Dick Dabner
This presentation is aimed at gaining as much value as possible from your present properties or future acquisitions. You can find out how to unlock the hidden value and how to re-think your approach to existing buildings, making more money for you and for your JV partners.
By following six basic steps you could potentially release or gain substantial equity and income.
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Dunstable housing market stable post-Brexit and despite all predictions today the Bank of England held interest rates.
So far fears over the housing market in the UK post-Brexit are shown to be misplaced. Economic uncertainty has hung over Britain since it voted to leave the EU, however Dunstable-based developers and estate agents I have spoken to are remaining confident of the future.
Speaking to local Estate Agents I have been told that they have seen “more activity” in the market since the referendum and they insist homeowners need not fear a collapse in the housing market following Brexit.
While it’s fair to say there was a lull in activity prior to the referendum, not everybody was sitting on the fence. There is always a market; the main issue is whether sellers will accept where the market price is at that time. This naturally depends on their individual circumstances and desire to sell.
In March this year I had reported that figures showed that property prices in Dunstable had risen by just over 7% during the previous 6 months and this was no surprise to those who keep an eye on the local housing market. In April I pointed out that a number of properties had reduced in price straight after the new stamp duty rules on 2nd owned properties came into force and in some subsequent articles I had noted that house price rises had levelled in this area. Recent figures show that over the last 3 months house prices have risen by 0.1% not surprising with the uncertainty surrounding Brexit.
It would seem that now it is business as usual. Houses are selling, tenants are renting, shares have recovered and the value of sterling has steadied and started to recover slowly. Today despite all the economists declaring that the Bank of England would reduce interest rates by 0.25% or even 0.5% they were held at the current rate by a vote of 8-1.
Dunstable and its surrounding villages are still a great place to live and as noted in my previous articles the area is very popular with the London owners and renters looking for somewhere more affordable. We might not see the growth we have seen over the last year and indeed house prices might level off, but with the ever increasing demand for rental properties and the very low interest achievable on savings with the possibility these rates could reduce further, property continues to be seen as a sensible investment but only if you have carried out your research and taken the advice of your local property experts.
It remains too soon to judge the effect that the result of the EU Referendum will have on the housing market as negotiating an exit from the European Union could be a long and complex process and it is difficult today to predict how and over what timetable this process will evolve.
Two networking meetings this week of Landlords/investors and local Dunstable businesses and the message is the same - Post Brexit let’s MOVE ON in unity and make this work.
A week after the referendum I had the opportunity to find out what the feeling is of local businesses in Dunstable and landlords/investors in Dunstable & Luton as two of my regular monthly networking events took place allowing me to gauge the feelings of those present.
Tuesday was the 2nd anniversary of the Luton Property Investors Network ( Luton PIN ). This event held once a month in the Hampton by Hilton hotel in Luton regularly attracts 40-50 new and experienced landlords and from the start 2 years ago I have been the Letting Agent updating those present on legislation changes and the current rental market. This has enabled me to build relationships with many of the investors not necessarily to do business, but to discuss the market and any changes and trends.
My own findings so far this year and especially since April is that the local housing market had eased slightly as had the rental market since May. A number of properties have been reduced in price recently and in the last 5-6 weeks rental enquiries have quietened and this is also evident from the number of rental properties currently on the market and being reduced. Many of these do require more realistic pricing and are costing landlords as agents leave them languishing at too high a rental price.
This month’s luton PIN meeting covered the opportunities in the serviced apartment market. This is something that an experienced landlord might not have considered yet but we were shown how the numbers involved can make it a very lucrative business model.
Obviously there was no crystal ball present, but the overwhelming view from the landlords I spoke to was that it was business as usual. There is and will continue to be strong tenant demand for good quality rental properties and if you are providing what the market demands there will continue to be a business or investment for these landlords.
If you are a new or experienced landlord and would like to attend one of the Luton PIN meetings email me at firstname.lastname@example.org and I can arrange a free invitation.
On Friday morning I was at the Networking at Dunstable meeting at the Holiday In Express in Dunstable. This is a monthly meeting of around 40 local businesses owners and at this month’s meeting the speaker was the Town Mayor who informed us of the current and proposed improvements to Dunstable. Many of these involve improving the presentation of the shops to make the streets in the town centre more appealing and therefore encouraging the continued take up by new business of the empty shop units. He also discussed the proposed improvements once the new junction 11a of the M1 is opened thereby taking the heavy goods vehicle traffic away from the town centre allowing the redesign of crossing points and other improvements in the town centre.
Each business owner has 30 seconds to introduce themselves and with their presentations and the general mood and discussions taking place it was evident that it was business as usual. In fact the obvious difference between the business owners and the politicians was that whether you voted leave or remain the decision had been made and it wasn't a time to continue the arguing or as was mentioned often in the referendum the scaremongering, but to work together as one unit and make it work which is in the best interests of everyone. Maybe local business groups such as this is something that the politicians need to learn from.
For many reasons the demand for rental property will continue and it is more important than ever that good quality, safe , legally compliant and well maintained properties are provided by ethical landlords and that local businesses continue to grow and provide jobs and growth in Dunstable.
Daniel Bourke is the owner of Belvoir Lettings Dunstable and in his previous career in Architecture he was an Associate in a leading London Architectural practice