Connect with us

LIFESTYLE

Avoid new ‘Green Tax’ with energy efficient B2L investments in Manchester’s city centre

1
  • Changes to ‘Green Tax’ legislation could cost buy-to-let landlords up to £5,000
  • From April 2018 loans are no longer available to boost a property’s energy efficiency – expected to affect approximately 330,000 investors
  • One Cross Street in Manchester uses low-carbon tech to be one of the city’s most energy-efficient properties (Surrenden Invest)

1The UK buy-to-let landscape altered significantly during the first half of 2016, however, the industry has shown few signs of faltering. Advisors surveyed in Paragon Mortgages’ latest Financial Advisor Confidence Tracking (FACT) report revealed that 24% of their business in Q1 2016 consisted of buy-to-let, a modest 1% increase from the previous quarter.

Changes to the rules surrounding the ‘Green Tax’ could disrupt this seemingly endless upward trajectory with landlords liable to spend up to an additional £5,000 on their properties.

2Proposed by the Department for Business, Energy and Industrial Strategy, the ‘Green Tax’ will see landlords having to pay in advance for property improvements such as cavity wall filling, insulation and efficient boilers. Designed to save tenants money on rising fuel expenses, the government are predicting 11% in savings for the average household by 2020.

From April 2018 all properties must meet a Band E energy efficient rating at least, but with loans no longer available to boost a property’s energy efficiency and landlord’s liable for the required works, it is expected to affect approximately 330,000 investors.

There are however opportunities arising that could cause this latest change to become redundant for buy-to-let investors. Property consultancy SurrendenInvests most recent development in the heart of Manchester, One Cross Street, uses modern low-carbon technology to ensure the building is one of the city’s most energy-efficient.

3Jonathan Stephens, Managing Director of Surrenden Invest, comments,

“This change to legislation for buy-to-let landlords will cause savvy investors to seek out opportunities that already meet the new requirements, a future-proof investment. With a Band A energy efficiency rating, One Cross Street is win-win, allowing investors to be exempt from the new ‘Green Tax’ and its residents to benefit from significantly lower running costs.”

One Cross Street is situated in the city centre just 5 minutes’ walk from Manchester’s prime business and exclusive leisure district, Spinning fields, as well as from the luxury shopping district New Cathedral Street. Redeveloped from the stunning structure of a former cotton mill, the original building of One Cross Street was built circa 1907.

With prices starting at £130,323, the property is formed of 34 luxury apartments featuring elements of the existing structure left such as exposed brick and beams. The project has also included the creation of a modern new-build extension which will include two new penthouse levels featuring floor to ceiling glass walls as well as a beautiful roof terrace available to all residents. Properties also come fully furnished with high end fixtures and fittings.

Continue Reading

Recent Posts

Protecting against man in the middle attacks with dynamic linking 28 Protecting against man in the middle attacks with dynamic linking 29
FINANCE1 week ago

Protecting against man in the middle attacks with dynamic linking

By David Vergara, Senior Director of Product Marketing at OneSpan In recent years, the booming growth of mobile applications has...

The Case for Banks to Digitally Transform: Iterating out of lockdown 30 The Case for Banks to Digitally Transform: Iterating out of lockdown 31
BANKING1 week ago

The Case for Banks to Digitally Transform: Iterating out of lockdown

By Sudeepto Mukherjee, Senior VP, Banking EMEA & APAC, Publicis Sapient. Before COVID-19 disrupted every imaginable part of society, banks...

Difficulties of Getting on the Property Ladder Post-Pandemic 32 Difficulties of Getting on the Property Ladder Post-Pandemic 33
LIFESTYLE1 week ago

Difficulties of Getting on the Property Ladder Post-Pandemic

There is a lot of talk about what’s going to happen to the housing market over the next few months....

Russian Doll: Building digital capabilities into a bank’s core 34 Russian Doll: Building digital capabilities into a bank’s core 35
BANKING1 week ago

Russian Doll: Building digital capabilities into a bank’s core

By Ian Johnson, Managing Director of Europe, Marqeta COVID-19 has left its mark on every industry, and banking is no...

How the US and Europe's COVID-19 Responses Have Affected Exchange Rates 36 How the US and Europe's COVID-19 Responses Have Affected Exchange Rates 37
TRADING1 week ago

How the US and Europe’s COVID-19 Responses Have Affected Exchange Rates

In living memory, few events have thrown the reputations of different countries and regions under such intense scrutiny as the...

Recognising the surprise PE investment potential in southern Africa 38 Recognising the surprise PE investment potential in southern Africa 39
INVESTING1 week ago

Recognising the surprise PE investment potential in southern Africa

By Martin Soderberg, partner at SPEAR Capital. An event of historic significance passed largely unnoticed in the world’s media recently,...

Why Banking is experiencing a second wave of transformation 40 Why Banking is experiencing a second wave of transformation 41
BANKING1 week ago

Why Banking is experiencing a second wave of transformation

By Keith Pearson, Head of Financial Services EMEA, ServiceNow The financial landscape has seen significant changes in the last six...

Making your mark: an introduction to trademarks 42 Making your mark: an introduction to trademarks 43
TRADING1 week ago

Making your mark: an introduction to trademarks

By James Turner, Director at  Turner Little  Are you looking to protect your brand? The chances are, you are –...

Tax evasion, avoidance and efficiency: which are legal? 44 Tax evasion, avoidance and efficiency: which are legal? 45
FINANCE1 week ago

Tax evasion, avoidance and efficiency: which are legal?

By James Turner, Director at York-based Turner Little Tax is a subject close to the hearts of most individuals, and...

Financial services firms must ‘cut the cord’ in order to weather the COVID-19 storm 46 Financial services firms must ‘cut the cord’ in order to weather the COVID-19 storm 47
TECHNOLOGY1 week ago

Financial services firms must ‘cut the cord’ in order to weather the COVID-19 storm

By Graham Brooks, Strategic Account Director, Cradlepoint This year, the financial sector’s plans have been thrown off course by a...

Strange new world: What next for banks? 48 Strange new world: What next for banks? 49
BANKING1 week ago

Strange new world: What next for banks?

By Simon Wilson, Director, Payment Solutions, Icon Solutions What’s next for banks in this strange new world we find ourselves...

Alone together: How to maintain a positive company culture while working remotely 50 Alone together: How to maintain a positive company culture while working remotely 51
BUSINESS1 week ago

Alone together: How to maintain a positive company culture while working remotely

By Paul Rowlett, from branded corporate gift specialist EverythingBranded, shares his tips for keeping staff morale and engagement high while...