Call Off Duty: help stamp it out

Residential Land’s CEO & founder, Bruce Ritchie was mentioned in Property Week about stamp duty land tax.

property week - Residential Land
Property Week is calling on chancellor Philip Hammond to reverse damaging reforms to stamp duty land tax (SDLT) made by George Osborne.

CALL OFF DUTY logo
Hammond sparked anger across the residential sector last week when he swerved any mention of the controversial changes to stamp duty in his Autumn Statement.

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Now, Property Week is urging the industry to back our campaign, Call Off Duty, and help us convince Hammond to rethink the punitive regime ahead of his next Budget in March.

Top names from across the residential sector, including Berkeley, Residential Land, L&G, Mount Anvil and McCarthy & Stone, have already thrown their weight behind Call Off Duty.

“Government has to create the conditions for growth and give the industry certainty to invest. Stamp duty has the opposite effect,” said Berkeley Group chief executive Rob Perrins. “It destroys the feelgood factor and means that fewer homes get built. Everyone knows the recent changes are not working and we welcome this campaign and a good debate about how to set it right.”

Residential Land - private rental sector

Property Week article

Bruce Ritchie
Resi Land’s Bruce Ritchie is backing Call Off Duty – find out how to join him here
Osborne’s decision to raise stamp duty at the top end of the market has made the UK one of the most heavily taxed property markets in the world, added Residential Land chief executive Bruce Ritchie.

“[The changes] were introduced without industry consultation, without knowing Brexit was going to occur and without having a manifesto remit. It is important that Property Week’s campaign expresses and exposes the unintended consequences of this wealth tax and the harm it brings,” he said.

SDLT receipts ‘much weaker than expected’
Other leading industry figures point out that it has not even boosted the Treasury coffers, citing last week’s Office for Budget Responsibility research showing SDLT receipts this year had been “much weaker than expected”.

As well as calling on Hammond to rethink the thresholds for stamp duty and levels it should be set at, we will be urging him to drop the 3% surcharge on additional homes for large-scale investors on the grounds that it is stifling the burgeoning build-to-rent (BTR) sector. Scrapping SDLT for large BTR investors would make marginal schemes viable again, boosting the number of homes built, said Dan Batterton, the head of L&G’s BTR team.

Please find the link to the full article on Property Week here: http://www.propertyweek.com/news/call-off-duty-help-stamp-it-out/5086561.article

Residential Land buys Luke House

Residential Land featured in Property Week about the recent purchase of Luke House, 3 Abbey Orchard Street, London, SW1P 2JJ

property week - Residential Land

Residential Land and joint venture partner Ivanhoé Cambridge have acquired a £60m office and residential building in Westminster.

The seven-storey building at 3-4 Abbey Orchard Street was acquired at a yield of 4.4%.

Luke House, Westminster

Known as Luke House, the 80,000 sq ft property is home to a number of government offices as well as 30 residential apartments let on assured shorthold tenancies.

Additional floors could potentially be added to the building to increase the volume of residential space or to accommodate a serviced apartment offering.

It could also be converted to offices were the apartments to become vacant.

“This off-market purchase forms part of our underlying strategy to invest in acquisitions where we see the opportunity to generate growth from enhancement and redevelopment,” said Bruce Ritchie, chief executive of Residential Land.

Please find the link to the article in Prperty Week here: http://www.propertyweek.com/news/residential-land-buys-luke-house/5086568.article

Our central London night owl tenants have two reasons to cheer

The Night Tube in Central London passes conveniently close to many of Residential Land’s Central London properties to rent

 

 

 

 

 

 

 

 

 

 

 

London’s after hours social scene is admired the world over and is a big reason why properties to rent in Central London are so popular. Our capital is crammed full of bars, restaurants, events and venues that have spawned a thriving night time economy, vital to the success of the city.

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Christmas events in Central London

 

Santa Land in Hyde Park is a popular attraction for families living in rental property in the vicinity

 

 

 

 

 

 

 

 

 

 

 

As Central London’s largest private landlord, Residential Land is out and about in the capital every day. We couldn’t help but notice how our communities are getting into the Christmas spirit and we’d like our current tenants and future clients to enjoy what London has to offer this festive season.

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Tenant Testimonial: Renting in Kensington

I loved it here so much I recommended Residential Land to my friend and they moved into the flat in the floor above me. I also enjoyed receiving the £250 Selfridges voucher for recommending her. They love it as well, so I will be recommending more friends to live with me here!

P.K

Tenant Testimonial: Renting in Hammersmith

I would 100% use Residential Land again. Not for this year but for next year, we have some ideas about another property with Residential Land. No hesitations.

G.B

Tenant Testimonial: Renting in Chelsea

With Residential Land, you are not guessing. You know that they are there to look after you and the property, with a very good track record and you can’t fault them for anything.

F.G

Tenant Testimonial: Renting in Paddington

I am doing my Bachelors degree in Regents Park so this is really close by for me. One of the reasons I chose to stay with Residential Land. Although now I am in I am so glad I did, everything is modern and clean which is a massive bonus!!

K.C

Tenant Testimonial: Renting in Kensington

I have lived in London for 5 years and this is one of the best apartments that I have lived in. I have lived in a few places and none of them come close. I am leaving the country soon but I think when I come back I will come back to this building as it is really good.

B.W

Tenant Testimonial: Renting in Mayfair

Th location of my apartment is perfect for my work. When we are in London we have lots of meetings and being in the middle of Mayfair, works perfectly for me and my busy schedule. I can hop on a tube or just take a 5-minute taxi to my meetings. One of the many reasons I would recommend Residential Land.

W.S