Welcome Stability from the Bank of England’s Monetary Policy Committee
The Bank of England has voted to hold the base at 0.5% for the third consecutive month and announced that there will be no change in its policy of quantitative easing.
[UKPRwire, Thu Jun 04 2009] Neil Young, CEO – Young Group, believes that Bank of England’s rate setting committee is prudent in maintaining a degree of stability; “The MPC has previously acted decisively in a bid to stimulate the economy and lending markets. However, it is now quite right to take the time to assess the impact of those measures.
“Despite some positive economic news beginning to filter through, the impact of the MPC’s policy will not be felt overnight, so it comes as no surprise that the MPC has opted to take a ‘wait and see’ approach.
Neil Young concludes, “Bank of England Governor, Mervyn King, should be applauded for the stability that comes from keeping base rate and economic stimuli consistent. A degree of stability from the Prime Minister and his Government at this time would also be welcome…”
About Young Group (www.younggroup.co.uk)
Young Group specialises in delivering Property Portfolio Management services to private and institutional investors.
The Group’s activity spans the entire investment cycle from identifying opportunities and financing their acquisition, through to managing the asset (furnishing through Young Furnishing – www.youngfurnishing.co.uk; tenanting through Young London – www.younglondon.co.uk; refinancing through Young Finance – www.youngfinance.co.uk), regularly reviewing the performance of the property holdings and advising on strategic direction, through to realising returns in the most tax efficient manner. This process also includes sale of property through Young London.
Young Group Asset Management - At a Glance:
• All assets successfully tenanted with no rent arrears disputes
• Currently managing 300-400 units across London
• Accredited by the National Approved Letting Scheme (NALS)
• Highly experienced in marketing the entirety of new apartment blocks, e.g. My Base1, Southwark (85 units - phased occupation); The Interchange, Dalston (30 units – fully tenanted in 8 weeks); The Retreat, Earlsfield (22 units – fully tenanted in 6 weeks)
• Average void across the portfolio: 8 days
• Performance Example: Young London managed assets in Southwark outperformed the market by 50% over the past 12 months. [Based on FindaProperty rental index for Southwark compared to Young London rental income performance]
• The lettings business was shortlisted for National Estate Agent of the Year Awards in its first year of operation
• 5,000 unique visits per week to website viewing 1.5m pages per year, 300%+ more than the Google benchmark for similar sized estate agents; an in-house increase of 60% since the beginning of 2009
• In 2008, Young Furnishing provided furnishing on behalf of our landlords to accommodate 272 Young London tenants
Neil Young, CEO – Young Group
A qualified accountant, Neil has more than 10 years experience in global corporate finance having worked with companies such as Thomson Holidays and British Airways. In 2000 he was appointed European Chief Financial Officer at Highland Partners, before leaving to found Young Group.
Neil works closely with his management team to ensure that Young Group operates effectively to manage clients' investment assets and to ensure that all Group companies remain focused on delivering excellent service in all areas, whether it is in the realm of financial advice (Young Finance), investment opportunities, property management (Young London) or furnishing (Young Furnishing).
Visit www.younggroup.co.uk to learn more.