MPG Ambassador, Carl Lomas MBE blogged the MPG April meeting.
Corned beef hash and brown sauce with mini burgers was the order of the day for the monthly hot spot Chop House venue of the Manchester Property Group with standing room only.
A treat was in store with details of the council’s workings by it’s own Deputy Executive Leader, a review of the budget by Clive Gawthorpe, UHY Hacker Young and a look at the question, ‘buy the property or buy the company?’ Purple Bricks were in the room, as were champagne sponsors Landmark Development Solutions and members of Mahdlo to call for support on July 6th for the three peaks Saddleworth challenge.
MPG founder and property guru, Jason Roper opened the April Manchester Property Group meeting with property value numbers, ‘Nationwide reported a first fall in values since 2012, the typical buyer spends £330,000 but this still remains a challenge to first time buyers.’ Jason detailed help to buy with a wide update of the deal for first timers on new builds, ‘let’s talk second steppers, it looks like their deal is coming to an end. Help to buy is about to tighten and focus on just First timers.’ Jason introduced the guest speaker, ‘An Oldham Athletic supporter’ Hush quiet as the audience was in for a treat, an insight into the workings of the council first hand by the deputy leader.
The guest speaker for the April meeting was Executive Deputy Leader of Tameside Metropolitan Borough Council, Cllr Bill Fairfoull. ‘Yes an Oldham Athletic fan’
Now a proud Ambassador of MPG, Bill explained how he took his first steps in property at Manchester College of building, before being elected for council in 2010. In his everyday life he’s also an Auditor.
Some of Bill’s first jobs as a councillor included a tree under preservation order and a smoking shelter but to name a few as he continued to give the attendees a quick overview of the workings of local government as well as the Northern Powerhouse numbers, GM circa 2.75 million people in a UK of 65 million. The insight showed how a council executive has a great diversity mix with strong female representation that has led to good constructive communication. He also went on to explain the funding received by Tameside that has been falling since 2010, a year, not raising council tax is a big challenge to the budget and last year the number was £175 million not helped by things such as Carillion and the Stalybridge Moor fires both of which were costly.
Bill went on to talk planning and green belt both of which are huge decisions for the next generations, affordability and availably of houses, first time buyers, population growth and land availability, ‘we need decisions that support the next generation’ before closing with the plan to be Carbon neutral by 2040 in Greater Manchester.
Standing room only at the April MPG was a big advantage to those at the back who were in for a treat of the first corned beef hash, layered on brown sauce for a perfect foundation of property folk networking at what has become the Manchester place to be for all things property.
‘Let’s review the budget for property.’ Clive Gawthorpe- Tax Partner UHY Hacker Young & MPG Co-Founder first opened with the question. ‘Should I buy the company? Or should I buy the property?’ Clive looked at the downside, ‘due diligence on the company, tax & VAT can often be more intense than due diligence on the property.’ Issues of stamp duty, presently due 14 days after completion. The hidden tax, tax on property, property is stock, beware of the hidden tax! Another view for negotiation, the seller has to pay tax, find out how much that tax is, then get back to the table and negotiate with a view of tax on both sides of the deal.
The winner of the champagne draw, sponsored by Landmark Development Solutions was one of MPG’s newest members Ian Chow of Bee in the City with the meal for 2 at Albert’s being won by Peter Lim of SAM Properties.
Get your diary set for May 2nd and be sure not to miss this event with a delivery a presentation from MPG partners Connell Brothers Demolition with the topic, ‘Asbestos - the truth!’
Read our latest news blogs about our events and guest speakers.