In the Herald today:
Would the Herald rather we saw this in Scotland?
More than 20,000 families have been kicked out of their homes since the Tories promised to ban no-fault evictions. Official figures published today reveal 21,332 households have been forced out of their homes by bailiffs since 2019.
The Conservative party pledged to scrap Section 21 evictions in its manifesto. But the number of households being kicked out of their homes because of no-fault evictions increased by 41% in the last year in England. Between April and June 2023, 2,228 households were forced out due to the evictions, up from 1,578 households since the same quarter last year.
https://www.mirror.co.uk/news/politics/over-20000-families-kicked-out-30675902
How is Rick de Blaby’s Get Living company doing?
With a net rental income of £62.6m, the operator’s total portfolio value is also up 13.8% to £2.73bn, compared to £2.40bn in 2021. Following the launch of new homes at New Maker Yards and East Village, the company has reported a 40% increase in revenue, to £99.2m.
https://btrnews.co.uk/get-livings-portfolio-delivers-record-revenues/
HTF have they increased revenue by 40% in one year – rent hikes?
Still not good enough for the hedge funds who own them and who must also satisfy Sunak’s wife?
Talking-up Scotland 'Albatraz' 
Private companies wants more public funding to increase profits at the expenses of others. After increase bank rate rises caused by the Westminster Gov poor bad decisions and Brexit. Losing £Billions. The Tory Governments extremely bad policies and decisions. Another company con job.
Another company will build the flats without any problems. Rents are lower in Glasgow than London. Wages are lower but it leaves the same desposible income. A better environment.
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Cute twins. More sense.
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A gorgeous photo that really brightens up a dreich morning. Thankfully for the teachers they are not all going to tha same school but will be spread round Inverclyde.
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When my twin boys started school in a small D&G town there were two other sets of twins starting at the same time so quite a high percentage of the intake.
Fortunately for the teacher none were identical
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Aw poor big massive pension funds in other countries pension funds that pay massive pensions compared to the crappy wee pensions we get and they want us to feel sorry for them ? Tell them to go make their profits from their own tenants why should we have to pay high rents just so some university lecturer in Canada or Australia or USA can have a bigger pension than our salary ever was.
I say to to Rick De Blaby their chief executive , go blab somewhere else , it’s always the millions of poor people that the rich want to rip off.
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There is a problem in Scotland, landlords are putting their properties on the market in an effort to evict their sitting tenants, of course most of them won’t sell once rid of the tenent, they will then rent to a new tenant at a much higher rent, probably someone evicted from elsewhere.
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Useful perspective on the private rental market can be gained from the Rightmove Rental Trend Tracker – ‘The largest quarterly dataset of UK rental activity.’ Its Quarter 2 report (April – June 2023) has recently been published.
(https://www.rightmove.co.uk/news/content/uploads/2023/07/Rental-Trends-Tracker-Q2-2023-FINAL.pdf )
Some key bits of info: ‘National (means UK!) average asking rents outside London HIT NEW RECORD of £1,231 per calendar month (pcm)’ (my emphasis)
‘Average asking rents for new tenants are now over £300 (33%) MORE THAN PRE-PANDEMIC 2019.’
And: ‘The annual pace of rent growth is slowing slightly, however it REMAINS NEAR DOUBLE-DIGITS.’ By contrast: ‘average asking rents for new tenants outside of London rose by just £71 (8%) in the four years previous between 2015 & 2019.’
Again at a UK level: ‘Homes are continuing to let at speed, with the current time to find a tenant at its quickest since last November despite a slight easing in the gap between demand and supply.’ And ‘The average property available to rent is finding a tenant in 17 days.
‘Tenant demand is up by 3% compared to last year, however AVAILABLE PROPERTIES TO RENT ARE UP BY 7%.’
Specifically in Scotland: the quarter on quarter (QonQ) change in average rent is +4.4%; the year on year (YonY) change is + 13.7%; the average yield realised by owners is + 7.9%.
Some notable comparisons:
(i) the QonQ change is higher in Scotland than in any other nation or region;
(ii) the YonY change is the highest anywhere in the UK jointly with London;
(iii) the average yield in Scotland is the second highest anywhere in the UK.
(iv) only in London has the average change in yield YonY been higher than in Scotland.
The Rightmoves report highlights ten rental hotspots across the UK: three are in Scotland – Edinburgh, Paisley and Glasgow. The YonY change in average asking rent was – at +24.2% – higher in Edinburgh than in any of the other hotspots.
(To compile these quarterly data Rightmove measured 536,289 asking rents. The properties were advertised on Rightmove.co.uk by agents from 1st April – 30th June 2023. All short lets have been removed. )
Presumably The Herald takes the moan from the private developer without question?
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For further interest, The Herald article mentions a company called Get Living and its CEO Rick De Blaby.
A quick visit to the Companies House (CH) website is revealing. A search for ‘Get Living’ returns Get Living plc registered at 1 East Park Walk, London plus many limited companies that have ‘Get Living’ in their name. One Richard Armand De Blaby has been a director of the plc for very short periods on three occasions. according to CH.
A number of companies with ‘Get Living’ in their name are registered in the British Virgin Islands e.g. GET LIVING GROUP (GLASGOW) LIMITED. It has a correspondence address in Bermuda. It’s important to note that based on my very quick look research any actual relationship here is uncertain as one can’t ascertain the company officers or beneficial owners of the ‘overseas entity’ directly from the CH search.
A relationship seems more certain with other companies having the Get Living name (c. 17 companies) as they use the same address in. London as the plc e.g. GET LIVING GROUP (MIDDLEWOOD LOCKS) DEVELOPMENTS LIMITED and GET LIVING LONDON EV N26 LIMITED. Both have Mr De Blaby as a director.
Also registered at East Park Walk are firms with GL in their name e.g. GL GROUP (LEATHERHEAD) DEVELOPMENTS LIMITED: again Mr De Blaby is a director.
There are a number of companies registered at Lansdowne House, Berkeley Square, London with Get Living in their name e.g. GET LIVING GROUP (MIDDLEWOOD LOCKS) H 175 LIMITED. Again Mr De Blaby is a director.
A search for ‘Rick De Blaby’ on the CH site reveals that this is a very busy man. The search shows that he has 99 current directorships in the UK!
It’s a ‘complex’ web that is woven …. for some reason!
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Astonishing that Caroline Wilson simply copies and pastes this nonsense from the developer – Rent controls would not apply to a first let, so it cannot “hamper efforts to boost numbers living there” in a new development.
In all likelihood something else has gone wrong with the project, and this “de Blaby” individual seized the opportunity to rock the political boat.
I’d prefer to see such shady developers banned entirely from operating in the UK, but little chance of that with friends in the City…
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On Get Living plc – a developer specialising in ‘build for rent’ – I was cautious earlier about stating links with companies registered in the Virgin Islands.
The Get Living plc’s annual accounts for 2022 has this information:
– over 50 subsidiary companies registered in the UK
– over 25 subsidiaries registered in the Virgin Islands
– three subsidiaries registered in Jersey.
In terms of control of Get Living plc, the annual report states:
Note 29: ‘Controlling parties: At 31 December 2022, Get Living PLC was jointly controlled as follows:
(i) by DOOR, SLP, a limited partnership registered and incorporated in Jersey;
(ii) by QD UK Holdings LP, a limited partnership registered and incorporated in Scotland; and
(iii) by Stichting Depositary APG Strategic Real Estate Pool, a pension fund asset manager based in the Netherlands.
‘Subsequent to the year end QD UK Holdings LP, one of the Group’s controlling parties, exchanged on a transaction to dispose of its entire shareholding in Get Living PLC to Aware Super, an Australian superannuation fund.’
‘Qatari Diar Europe LLP is a wholly owned subsidiary of Qatari Diar Real Estate Investment Company which has control over QD UK Holdings LP as a limited partner.’ Qatari Diar Real Estate Company was established in 2005 by the Qatar Investment Authority, the sovereign wealth fund of the State of Qatar.
Recall, all this to build houses for rent: was their, is there not another way to achieve the same end that doesn’t operate to achieve a financial return for ALL these parties?
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The Qataris using public money to evade tax. They should not get a penny of public money. An oppressive murderous regime. Westminster unionist liars will be getting back handers.
Stewartie Milne or other Scottish Companies can build them. The Westminster charlatans and royals. . Saudi Arabia rent boys. The most oppressive regime on earth. Causing wars and troubles in the world. To line their extensive corrupt network of psychopaths. Where there is trouble there will be Westminster Gov,
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