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IKEA offers to buy back used furniture in exchange for vouchers

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Ikea has launched a buy back scheme that will allow customers to sell used furniture in exchange for store credit. 

The Swedish flat-pack furniture giant will give participating shoppers vouchers worth up to 50 per cent of the original value, depending on the condition of the piece. 

In turn, shoppers will be able to buy the returned items second-hand, allowing them to save money on the cost of furniture and reduce the amount of waste. 

Customers could receive up to £250 for their second-hand office cabinets, £249 for tables and £270 for second-hand desks. 

Ikea has launched a buy back scheme that will allow customers to sell used furniture in exchange for store credit (pictured, the popular Billy bookcase costs £35 but customers could receive a voucher worth £17 for the item using the scheme.)

Ikea has launched a buy back scheme that will allow customers to sell used furniture in exchange for store credit (pictured, the popular Billy bookcase costs £35 but customers could receive a voucher worth £17 for the item using the scheme.)

Children's products are among those included in the scheme, meaning shoppers could receive up to £98 for the Svarta cabin bed,

Children's products are among those included in the scheme, meaning shoppers could receive up to £98 for the Svarta cabin bed, and £30 for the popular Duktig play kitchen

Children’s products are among those included in the scheme, meaning shoppers could receive up to £98 for the Svarta cabin bed (left), and £30 for the popular Duktig play kitchen (right) 

In order to participate, customers will fill out an online form on the Ikea website. 

The tool will automatically generate a preliminary offer and customers will then be invited to bring the fully assembled product and preliminary offer to the Returns & Exchanges desk at their nearest Ikea store. 

If the piece meets the requirements, the customer will be given a refund card with no expiry date.

Furniture that is being returned ‘as new’, (no scratches) will be worth 50 per cent of the original price; ‘very good’ (with minor scratches) will be worth 40 per cent of the original price and ‘well used’ (several scratches) will be worth 30 per cent of the original price.  

Meanwhile customers could receive up £249 for the Morbylanga table (pictured)

Meanwhile customers could receive up £249 for the Morbylanga table  and £213 for the Mockelby table (pictured)

Meanwhile customers could receive up £249 for the Morbylanga table (left) and £213 for the Mockelby table (right) 

Shoppers could expect a voucher for £185 if they return their £370 Nordli dressers to an Ikea store in good condition

Shoppers could expect a voucher for £185 if they return their £370 Nordli dressers to an Ikea store in good condition 

For those who invested £535 in a Bekant desk while working at home during the pandemic and have now found they are returning to the office, they could receive £267 from the scheme

For those who invested £535 in a Bekant desk while working at home during the pandemic and have now found they are returning to the office, they could receive £267 from the scheme 

Products eligible for the buy back scheme include dressers, bookcases, chests of drawers and dining tables and desks. 

How does the Ikea Buy Back scheme work? 

  • Customers fill out an online form to generate an initial quote 
  • Eligible returns will be invited to bring the furniture into store, along with the quote 
  • A refund card will be produced, worth up to 50% the original price 
  • The returned item will be re-sold in the As-Is Are of the store 

Other items eligible include small tables, cabinets and children’s products. 

Items will then be resold as second-hand in the As-Is Area of stores (previously known as Bargain Corner). Anything that cannot be resold will be recycled. 

The popular Billy bookcase is among the items listed in the scheme, and costs £35 from the store – meaning customers could receive a voucher worth £17 for the item.

Meanwhile customers could receive up to £250 for office cabinets, £249 for the Morbylanga table and £213 for the Mockelby table. 

To coincide with the launch, IKEA is also introducing ‘Pre-Loved Labels’ to its second-hand items, allowing customers to learn about an item’s past before giving it a new home. 

Peter Jelkeby, Country Retail Manager and Chief Sustainability Officer, IKEA UK & Ireland, commented: ‘Households are connected to around 60% of global greenhouse gas emissions, consuming around a third of the energy and 10% of the water used globally. 

‘Therefore, small actions taken within them can make a significant difference, and why IKEA is so committed to making sustainable living more affordable, attractive and accessible. As one of the biggest brands in the world, we recognise our unique opportunity to help lead that change.

‘Through Buy Back we hope to make circular consumption mainstream; making it easier for customers to acquire, care for and pass on products in circular ways.

The Swedish flat-pack furniture giant will give participating shoppers vouchers worth up to 50 per cent of the original value, depending on the condition of the piece. Stock image

The Swedish flat-pack furniture giant will give participating shoppers vouchers worth up to 50 per cent of the original value, depending on the condition of the piece. Stock image

‘As we move towards our goal of becoming fully circular and climate positive by 2030 we will continue to take bold steps ensuring that, by then, all IKEA products will be made from renewable, recyclable and/or recycled materials; and they will be designed to be re-used, refurbished, re-manufactured or recycled, following circular design principles.’  

Hege Sæbjørnsen, Country Sustainability Manager at IKEA UK & Ireland, added: ‘The IKEA vision has always been to create a better everyday life for the many people, which right now means making sustainable living easy and affordable for everyone. 

‘Being circular is a good business opportunity as well as a responsibility, and the climate crisis requires us all to radically rethink our consumption habits.

‘Currently, 45 percent of total global carbon emissions come from the way the world produces and uses everyday products, so Buy Back represents an opportunity to address unsustainable consumption and its impact on climate change.’

Products eligible for the buy back scheme include dressers, bookcases, chests of drawers and dining tables and desks. Pictured, the VEDBO dining table

Products eligible for the buy back scheme include dressers, bookcases, chests of drawers and dining tables and desks. Pictured, the VEDBO dining table

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Sirius Real Estate sells London business park for €18.8m (GB)

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Sirius Real Estate has agreed to the sale of an asset in Camberwell, London, for €18.8m (£16m), representing a NIY of circa 2%. The property formed part of the portfolio Sirius acquired in November 2021 with its purchase of BizSpace, the leading provider of regional light industrial, workshop, studio and out of town office units across the UK. The sale price represents a 94% premium to the valuation at the time of Sirius’ acquisition of BizSpace.

 

The multi-tenanted business park, which comprises approximately 34,700ft² of industrial and office space is 91% occupied following a series of asset management measures delivered through the BizSpace platform. The sale is expected to complete in July 2022.

 

Commenting on the transaction, Andrew Coombs, Chief Executive Officer of Sirius Real Estate, said: “This disposal is further proof of the latent value in the BizSpace portfolio we acquired late last year, the price being significantly ahead of last September’s valuation on which our purchase was based, and the attractive sale follows our recent announcement that we had since improved like-for-like rental income across the portfolio by 7.5%. The sale will allow us to invest in new opportunities for BizSpace in the UK as we continue to build our acquisition pipeline. Bringing together the Sirius and BizSpace platforms, with a strengthened management team at BizSpace, is already delivering strong results and operational synergies that will enhance our UK portfolio.”

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Southwold beach hut which is 10ft wide with no running water or electricity up for sale for £250,000

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A beach hut in an upmarket seaside town which is famed for its celebrity visitors has gone on the market for a record £250,000.

The price is believed to be the highest ever to be asked in the UK for a hut which people are not allowed to sleep in – and is double the cost of a three bedroom terraced house just 10 miles away.

The hut, numbered 149 and called ‘Here’s Hoping’, measures 10ft 6ins wide and is in a prime position on the promenade in the Edwardian town of Southwold, Suffolk.

The resort has always been a popular retreat for well-heeled Londoners and celebrities including Chris Evans, Michael Palin, Stephen Fry, Rowan Atkinson and Richard Curtis.

Beach huts on the south coast can be more expensive with selling prices for some in Dorset exceeding £500,000.

But the huts in Southwold, which have no electricity or running water, are subject to strict local by-laws which ban anyone from sleeping overnight.

A beach hut called 'Here's Hoping', pictured, which sits on the promenade of the upmarket seaside town Southwold in Suffolk, Doset, famed for its celebrity visitors, has gone on the market for a record £250,000

A beach hut called ‘Here’s Hoping’, pictured, which sits on the promenade of the upmarket seaside town Southwold in Suffolk, Doset, famed for its celebrity visitors, has gone on the market for a record £250,000

The price is believed to be the highest ever to be asked in the UK for a hut which people are not allowed to sleep in. The hut, called 'Here's Hoping' and numbered 149, measures 10ft 6ins wide and is in a prime position on the promenade in the Edwardian town

The price is believed to be the highest ever to be asked in the UK for a hut which people are not allowed to sleep in. The hut, called ‘Here’s Hoping’ and numbered 149, measures 10ft 6ins wide and is in a prime position on the promenade in the Edwardian town

The resort has always been a popular retreat for well-heeled Londoners and celebrities including Chris Evans, Michael Palin, Stephen Fry, Rowan Atkinson and Richard Curtis. Beach huts on the south coast can be more expensive with selling prices for some in Dorset exceeding £500,000

The resort has always been a popular retreat for well-heeled Londoners and celebrities including Chris Evans, Michael Palin, Stephen Fry, Rowan Atkinson and Richard Curtis. Beach huts on the south coast can be more expensive with selling prices for some in Dorset exceeding £500,000

The buyer will still have to pay annual ground rent of £998 and will only have 18 years left of a 30 year lease, although there will be an option to renew.

They will be able to enjoy spectacular views from a veranda overlooking the beach and the North Sea, while being just a short walk from pubs, restaurants and shops.

But just 10 miles away in Lowestoft, Suffolk, there are several homes up for sale, priced between £120,000 and £140,000.

But the huts in Southwold (pictured), which have no electricity or running water, are subject to strict local by-laws which ban anyone from sleeping overnight

But the huts in Southwold (pictured), which have no electricity or running water, are subject to strict local by-laws which ban anyone from sleeping overnight

Southwold beach (pictured) has always been a popular retreat for well-heeled Londoners and celebrities including Chris Evans, Michael Palin, Stephen Fry, Rowan Atkinson and Richard Curtis

Southwold beach (pictured) has always been a popular retreat for well-heeled Londoners and celebrities including Chris Evans, Michael Palin, Stephen Fry, Rowan Atkinson and Richard Curtis

Huts in the best locations within Southwold, which is famed for its Adnams brewery, pier and lighthouse, are rarely on the market and some have been in the same family or generations

Huts in the best locations within Southwold, which is famed for its Adnams brewery, pier and lighthouse, are rarely on the market and some have been in the same family or generations

Several semi-detached homes in the area offer three bedrooms, one bathroom and two reception rooms, and is located 0.1 miles away from Lowestoft railway station.

Another property on the market is a £90,000, three-bed semi-detached bungalow at Broadlands Park and Marina in Lowestoft which has a garden, one bathroom and one living room.

The listing for the beach hut boasts that it has ‘glazed double folding doors’ and ‘a number of storage cupboards’.

The previous highest price asked for one of Southwold’s 300 beach huts was £150,000 in September 2018.

Prices have soared since then as property prices have continued to increase and the demand for staycation breaks following the Covid epidemic has boomed.

Huts in the best locations within Southwold, which is famed for its Adnams brewery, pier and lighthouse, are rarely on the market and some have been in the same family or generations.

Several semi-detached homes in the area offer three bedrooms, one bathroom and two reception rooms, and is located 0.1 miles away from Lowestoft railway station

Several semi-detached homes in the area offer three bedrooms, one bathroom and two reception rooms, and is located 0.1 miles away from Lowestoft railway station

Many are rented out for around £600 a week to visitors who flock to the town.

The latest asking price is more than double the price of a three bedroom terrace house on the market for £110,000 around ten miles away in Lowestoft, Suffolk.

More than half the properties in Southwold are second homes and the full-time population is now below 1,000, putting extra strain on local services.

Earlier this year, councillors unveiled plans to try and stem the number of second homes in the town and make more affordable housing possible for local people.

A spokesperson for estate agent Flick & Son, which is selling the hut, said: ‘I am sure it will go very quickly.

‘There is a high demand for huts and we expect there will be a bidding war in the end.’

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EU will retaliate to any unilateral action on NI protocol, Coveney warns

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British prime minister Boris Johnson has been warned of the consequences of unilateral action on the Northern Ireland protocol, including the prospect of “retaliatory” action from Europe.

On the eve of Mr Johnson’s visit to Belfast, the Government and Sinn Féin said moves to disapply parts of the protocol risked damaging east-west relations.

Minister for Foreign Affairs Simon Coveney spoke of a “landing zone” for negotiations and indicated that the European Union was willing to make adjustments through “partnership and dialogue” due to what he said were “legitimate concerns” within unionism about the operation of the protocol.

However, he also said that if London moved unilaterally it would make matters “significantly worse” and that “then the EU will be forced to respond to that with some form of retaliatory action”.

Mr Coveney said it was not “helpful” to expand on what form that might take, but that a response “would be very negative”.

Taoiseach Micheál Martin said “there is a real and urgent obligation now” for Britain to engage with the European Commission “in a real and professional way to resolve issues that have been raised”.

Powersharing

Ahead of talks between Mr Johnson and Northern Irish political leaders aimed at restoring powersharing at Stormont, Sinn Féin’s northern leader Michelle O’Neill said unilateral action would “represent an appalling attack on the international rule of law”.

“Only through joint agreement with the EU can solutions to problems or concerns be resolved,” she said.

“I will be telling Boris Johnson that unilateral action deepens political instability and economic uncertainty and must not happen.”

Ms O’Neill is to meet Mr Martin in at Government Buildings Dublin on Monday morning ahead of her meeting with Mr Johnson.

Mr Coveney travels today to Brussels for a meeting of the EU Foreign Affairs Council and will later speak with EU negotiator Maros Sefcovic and British foreign secretary Liz Truss, who is expected to announce legislation on Tuesday that will unilaterally override central elements of the protocol.

Speaking to The Irish Times, Mr Coveney said Mr Sefcovic is open to making “significant progress” on the protocol.

“I believe there are solutions we could pursue and we can agree relatively quickly if there was an attitude to do so on both sides,” he said. “But we need a partner in London to do that, not a partner that is making threats of unilateral action.”

Envoy

The Minister also said he believes it is “likely” that US president Joe Biden will appoint an envoy to the North, saying the US administration is “extremely interested” in marking 25 years since the Belfast Agreement next year with “its institutions intact and functioning as they need to be”.

Mr Johnson is expected to affirm his commitment to the agreement and assert that he is not seeking to scrap the protocol. But Downing Street said ahead of his meetings with the North’s party leaders that he will not drop his government’s threat to unilaterally disapply parts of the protocol, which Mr Johnson agreed with the EU in 2019.

Downing Street said in a statement that Mr Johnson will tell party leaders that the door will always be open to “genuine dialogue” but that “there will be a necessity to act” and protect the Belfast Agreement if the EU does not change its position.

Writing in Monday’s Belfast Telegraph, Mr Johnson outlined that the protocol “has not been adapted to reflect the realities of the [Trade and Co-operation Agreement]”. He will signal that there is “without question a sensible landing spot in which everyone’s interests are protected”. However, he said that if the EU’s position does not change, “there will be a necessity to act”.


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