The Oldest Pub in Marylebone Re Opens
The Barley Mow, the oldest pub in Marylebone is back in business following 3 year refurb reports West End Extra.
The striking, listed pub in Dorset Street dates from 1791, and has retained many of its original features following a three-year closure because of renovation to the flats above.
Licensing chiefs granted new publican Sean Martin a licence for the pub on Thursday, and he wasted no time in getting behind the bar.
Mr Martin, who has run the Northumberland Arms in Fitzrovia for five years, said he was attracted by the traditional charm of the Barley.
He said: “I just loved the pub,” adding that, since it reopened at the beginning of the month, “…the response has been good, people seem to like that we haven’t made much changes,” he said.
And the regulars are flocking back.
“Some of them haven’t seen each other since the pub closed. I love the area and the pub is becoming a local meeting place again,” said Mr Martin.
Events in Regents Park; Boomerang Pet’s Party
The Boomerang Pets Party is back, bigger and better than ever! It’s a free fun-filled family day out celebrating all things pets & animals (pets are especially welcome to come along!).
Attractions include grooming demonstrations in Pink Panther’s Pet Parlour and crazy pet food demonstrations in Garfield’s Kitchen. Grab a chance to see some real life-saving dogs in Scooby’s Pet Heroes and race around in your very own Looney Tunes go-kart in the Looney Tunes Chase!
…and if that’s not enough – there’s pony rides, face painting, a big band and a refreshments and picnic area available to all.
The Boomerang Pet’s Party 24 Jul 2010 12:00 – 17:00
Second Half of 2010 to be a House Buyers Market
Reuters reports that asking prices for homes fell for the first time this year in July, lowering the annual rate of growth to 3.7 percent from 5.0 percent in June, property website Rightmove showed.
Rightmove blamed the weakening on a rise in the number of homes coming up for sale, which had allowed buyers to gain the upper hand.
“The number of new mortgages being approved each month is less than half the number of new sellers,” said Miles Shipside, Rightmove’s commercial director.
“Conditions are ripe for a strong buyers’ market in the second half of 2010.”
Rightmove said the supply of properties coming up for sale was up almost 50 percent compared with the same period last year while many buyers were still struggling to get mortgages.
It predicted that asking price gains of around 7 percent in the first half of this year would be wiped out by falls in the second half as a public spending squeeze and a weaker economic outlook weigh on confidence.
RLA Reports Residential Rent Rise
According to LSL Property services, residential rental rates in the UK are now close to levels last seen in early 2008, before the financial crisis and fall in housing prices. Monthly rents increased by 1% last month, crowning five straight months of rental rises. As such, the average rent in the private buy-to-let sector increased by 3.2% over the past 12 months, leading to a monthly increase in income per tenant of £23 each month, bringing rents to £673. Buy-to-let specialists add that the last time rents were this high was in November 2008, just before the full impact of the economic crisis became felt by landlords.
London-area landlords experienced the highest rental increases and almost doubled the national average. Rents in the capital rose by 1.9%, bringing average monthly rates to £942. But the positive news was not only relegated to London, as landlords in areas hardest hit by the economic crisis also experienced noticeable increases in rent. Rates rose by 1.4 in England’s North West, while rates increased by 1.3% in the North East. The West Midlands, however, did not experience the same positive trend seen elsewhere in the UK. Buy-to-let landlords actually saw their rates drop by 1.7% in June.
David Brown, LSL Property Services’ director, noted that the relatively thin supply of rental properties and high demand is the main factor behind the continued rental increases over the past five months. London rentals continue to rise faster than in other parts of the country and Brown believes that this will likely continue over the foreseeable future, as first-time buyers find it difficult to purchase their home.
Middle East investors snapping up UK properties – Emirates Business 24|7
The Queen Sells off Stake in Regents Street
The Queen is to sell off her holding in Regents Street in order to re invest outside central London to diversify her property portfolio. The Telegraph reports that ‘A stake in Regent Street, the world’s premier shopping street and now home to the likes of Apple and Ferrari, would be seen as a trophy asset for a foreign or domestic investors. Retail properties in the West End are already seen as attractive, with shops enjoying buoyant trading thanks in part to a weak pound boosting tourism.’
It is reported that the proceeds of the sale will be used for further redevelopment and to boost the area surrounding St James.
Mortgage Interest Payments Lowest in 35 Years
Borrowers moving home in May saw their mortgage interest payments accounting for the lowest proportion of their income in 35 years, according to new data from the Council of Mortgage Lenders.
And house purchase lending rose from a year ago for the 11th consecutive month. But with the challenging economic backdrop, government spending cuts and forthcoming tax increases the positive trend is likely to tail off in the second half of this year. Monthly comparisons with a year earlier will probably be near zero or modestly negative over the coming months. This is because we had an improving market in the second half of 2009 as the stamp duty holiday came to an end.
House purchase lending rose modestly in May. The 42,000 loans (worth £6 billion) were up 2% in volume and 3% in value on April and 15% in volume and 28% in value from a year earlier.
Remortgaging activity recovered a little as well in May. The 26,000 loans (worth £3.2 billion) were up 6% by volume and 10% by value on April but down 14% by volume and by value on a year earlier.
Marshall Street Baths Re Open
Westminster Council’s Marshall Street baths, in Soho, has undergone a multi-million pound regeneration which will see the original Sicilian marble-lined pool with its green Swedish marble walls returned to its former glory, after being closed for more than a decade.
The New Facility will Feature;
- A stunning, marble lined swimming pool
- Two exercise/dance studios
- Two fitness suites
- A health suite with sauna and steam rooms and a range of treatments and therapies
The opening of Marshall Street marks the third new leisure facility to open in as many years in Westminster, as well as major refurbishments of several existing indoor and outdoor sites.
Residents in Westminster have the fourth highest access to sporting facilities in the UK, according to Sport England, with more than 90 per cent of residents living just a 20 minute walk from their nearest sports facility.
