Stamp duty changes to come?

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Tim Banks CEO OctagonTim Banks, CEO Octagon, looks at the effects of new optimism in the property market

Last year finished with a gripping General Election that seems to have brought optimism to all areas of the property market, including the very top end. But in order to best support growth this year and beyond, the new government will need to progress swiftly on clarifying a few proposals that have been left hanging – like the Stamp Duty conundrum. If it is going up for certain categories of buyers, like overseas purchasers – this certainly would affect the premium sector of our market, who may well look elsewhere to invest.

The renewed confidence in the property market has certainly been reflected in our early sales successes this year, where at Bishops Row, our exclusive collection of townhouses on the Thames, two homes were reserved in January. The super-sized properties sit across five storeys, each with numerous reception rooms, including a media room, innovative lower courtyard garden – along with views across the River Thames and Barnes Wetlands Centre.

Bishops Row, London

A further two homes have been reserved at Bishops Row, Fulham, and viewings have been high across all Octagon developments – showing new confidence in the property market.

Meanwhile, at our new flagship development Broadoaks Park in West Byfleet, we have had a busy start to the year, with reservations continuing to come through across the range of homes, from two-bedroom apartments through to 6/7 bedroom family houses. We are looking forward to opening an on-site show home this Summer.

Octagon-Developments-Hampton-Place-CGI-Front

Hampton Place is a magnificent family residence situated on the prestigious Wentworth Estate in Virginia Water, Surrey.

We are continuing to build the super-mansions that we have become synonymous with, with Hampton Place on the Wentworth Estate set to launch in the coming months. The six-bedroom, three-storey property of grandiose proportions has our signature neo-Georgian finish, whilst interiors are designed to be truly indulgent. As well as six reception rooms, the house features a lift, leisure complex with indoor pool, jacuzzi and steam room, a master suite with “his and her” bathrooms and dressing rooms, and an elegant “sky lounge” with balcony and views over the one acre south facing garden.

As our pipeline grows further, we are delighted to announce some new appointments in the Octagon team. Nick Riggs, former Senior Director at Deloitte has come on board as our Finance Director, and will be working closely with the Board on setting the strategy for growth for the brand.

We have also launched an in-house interior design service, with the appointment of Rachel Hall as Interior Designer. Rachel has over 20 years’ experience in the design industry and a full interior design service is something we’ve been looking to create for some time, to offer clients a complete turn-key service. Also joining is Francesca Dent, Interiors Client Liaison, who will be working alongside Rachel and the team.

 

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