UK Real Estate

The stately home remains an iconic feature of the British Isles, where they dot the landscape right across the land. There are thought to be around 500 of these buildings across the country and this articles look at the role they play in terms of British culture, as well as what practical role they play in nation now.

The stately home is a concept that emerged from the building of large houses by well heeled individuals between the mid 16th and early part of the 20th century. These powerful individuals – usually men – wished to create a monument to their success – and of course their egos too. But most Brits are very grateful that they were so ego-centric, because if they weren’t we would be without some of the finest pieces of architecture in the country – nay the world.

Some stately home examples were actually converted from old abbeys and monasteries – and so hold even more significance in relation to the history of the British Isles.

The upkeep of this kind of building is nearly always expensive – with these old buildings requiring constant work on roofs, walls, along with upgrades as regards heating and insulation systems. On order that these buildings can garner the required funds to keep them in good condition, there are a range of ways that a stately home can get an income from its own qualities.

Many of these buildings are owned and maintained by one of the UK’s heritage trusts. These include but are not limited to English Heritage, The Landmark Trust, The National Trust, Historic Scotland and The National Trust for Scotland. These organisations are trusted with the building’s upkeep – and usually charge visitors to come and visit the splendid interiors.

Another way that a stately home can receive an income is by renting out its facilities to groups; these might well be business meetings – and so a stately home that has facilities for a conference could do well. Often, a given stately home is located out in the countryside and so this provides another attraction for many business people – namely the ability to relax in a rural environment, with added benefit of a luxurious conference location.

Due to their often remote locations, a stately conference point would do well to have its bedroom’s habitable, as being able to stay overnight would really add to the attractiveness of a the building.

The stately home looks set to remain a classic iconic feature on the British landscape – often still essentially being working houses.

Gino Hitshopi is highly experienced in the realm of stately home history, having written about it for many years.

Article Source: http://EzineArticles.com/?expert=Gino_Hitshopi

By Chris Bourke

Oct. 6 (Bloomberg) — Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc are among lenders likely to make larger U.K. commercial property loans as financial markets recover, Savills Plc said.

A total of 23 banks said they would loan more than 20 million pounds ($32 million) to a buyer of U.K. commercial real estate, Savills said in a statement today, citing the results of a September survey of more than 100 lenders. That’s almost double the number that said so in March, Savills said. Almost half of the banks are based in Germany.

Lenders are slowly returning to the British commercial- property market as their own borrowing costs decrease and prices fall, according to the London-based property broker. The London interbank offered rate, or Libor, has fallen to about 0.2 percent from 1.6 percent in the fourth quarter of 2008. Around six banks said they would lend more than 100 million pounds, the statement said.

“Major names have stated strong ambitions to lend in the property market following pricing corrections and a reduced cost of funding,” said William Newsom, head of U.K. valuation for Savills, the largest publicly traded U.K. real-estate broker.

Barclays, HSBC

Banks prepared to lend more than 20 million pounds also include Barclays Bank Plc, HSBC Holdings Plc and Banco Santander SA, according to the statement. German lenders willing to offer that amount include DekaBank Deutsche Girozentrale and Landesbank Baden-Wuerttemberg.

About 39 percent of commercial real-estate sales in the first half were between 10 million pounds and 20 million pounds, according to Savills’ data. Of the 11 sales of 100 million pounds to 200 million pounds, only one buyer didn’t arrange debt, Newsom said.

Even so, “lenders are treading a path of prudence,” Newsome said. “Volumes remain reduced due to a scarcity of good quality product and cautious lending policies, as property remains largely out of favor with bank bosses.”

RBS and Lloyds have about 100 billion pounds of loans against U.K. offices, stores and warehouses between them, according to a Sept. 7 note from Creditsights Inc. There’s about 230 billion pounds of loans against U.K. commercial real estate in total, according to a De Montfort University study. Almost all of them are in default after market values slumped 44 percent, according to CB Richard Ellis Group Inc.

“We continue to support the real estate sector, despite challenging market conditions,” said David Gaffney, a spokesman for RBS in Edinburgh. “We remain open for business for well- structured property deals with quality operators.” Leigh Calder, a London-based spokesman for Lloyds, declined to comment.

Newsom said in the statement that he wasn’t aware of any significant new lenders preparing to enter the British market.
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