Great success at the Lexham Gardens agent’s garden party

On Thursday 21st April, Residential Land hosted a garden party for local agents at 85 Lexham Gardens in Kensington, W8. The event gave agents the opportunity to walk around and view all of the apartments in this beautiful stucco fronted Kensington building.

The day was a huge success with over 150 agents attending throughout the day, eager to see what the apartments had to offer. The unpredictable British weather was kind on the day allowing the sun to shine out onto the manicured garden of apartment 1, letting everyone enjoy a glass or two of Pimms. Lexham Gardens The event was a great success and we would like to thank everyone who attended and hope you enjoyed it as much as we did.

A big congratulations to Spencer from Pastor Real Estate who won the live prize draw!

A big congratulations to Spencer from Pastor Real Estate who won the live prize draw!

If you would like to book a viewing at 85 Lexham Gardens please, contact Sasha Goodwin on 020 7408 5168 or sasha@residentialland.com

Residential Land sponsors Refugee Cricket Project

Residential Land is proud to sponsor Refugee Cricket Project. Our donation has helped to get this project to a point where they are confident that the project’s future has refugee_landscape_bluebeen secured for at least two years. They have also been able to create a part time post for the project.

The combination of this and the money raised will enable to assist a significant number of separated refugee children and young people in relation to their immigration and welfare issues. At the same time the project will help them to be involved in and enjoy life in the UK through the sport they love.

Refugee Council work with refugees and people seeking asylum in the UK. They offer practical support and advice through their journey in the UK. Refugee Council has been helping refugees for more than 60 years and have a thorough understanding of the difficulties facing people arriving in the UK, having fled war, rape, torture and with unimaginable stories to tell.

If you wish to a make donation please visit Refugee Council website HERE

Market update: ‘brand’ landlord gaining momentum

The private rental sector is changing. We’re moving into the era of the professional landlord, more recently referred to as ‘brand’ landlord and the effects will be felt the most by small portfolio and accidental landlords.

Brand landlord gains momentum

Professional or ‘brand’ landlord is not a new concept, as Residential Land has been a private landlord brand since 1991. Organisations like us want to change the perception of renting, acting as professional landlords yet operating within a bigger company structure.

‘Brand’ landlord is the product of a number of current factors, although Residential Land has always been ahead of the game. There is a growing need for fair, transparent and fit-for-purpose rental accommodation and some private landlords are not in a position to deliver this. Large branded private landlords like Residential Land have the resources, infrastructure and specialist skills to deliver quality professionally-managed properties across Central London.

In fact, we are signed up to The London Rental Standard – a voluntary set of minimum standards that the Mayor expects from landlords, managing agents and letting agents that operate in London’s private rented sector. Our tenants also benefit from clean and modern properties, dedicated building managers and 24-hour maintenance support.

The lettings landscape will also alter as Build to Rent gathers pace. This Government-backed initiative is encouraging developers, organisations, charities, REITs, pension funds and other investment vehicles to build new homes, retain ownership and release the units into the private rental sector.

Build to Rent is an approach that’s here to stay. The British Property Federation has just recommended that a quarter of all public land in London be earmarked for build-to-rent projects, and that the rate of build in London should be doubled. It is also encouraging the Mayor to identify 20 new build-to-rent opportunity areas in the capital.

It’s also worth mentioning what’s happening to small property investors and one-man band landlords. The National Landlords Association (NLA) reports that the proportion of landlords in Central London who intend to sell property has quadrupled since 2015’s Budget, squeezed by a new second home stamp duty levy (from 1st April 2016), cuts to mortgage interest relief and alterations to the wear and tear tax break. This trio of changes will mean some landlords will run at a loss, perhaps prompting them to sell up and leave the private rental sector altogether.

Private lettings is becoming an institutional grade investment business with a corporate face and household names behind new rental communities. Tenants are savvy. They want a trustworthy source, professional assurances and a smart lifestyle – something that ‘brand’ landlord is ready to deliver.

If you are looking for short or long term rentals in Central London, Contact Residential Land, we have a portfolio of over 1200 flats and houses in some of the best postcodes across the Capital.

MIPIM report: World property experts shape the future of Central London PRS

MIPIM – the real estate extravaganza took place during March in Cannes. It’s probably the biggest gathering of leading industry professionals, investors, advisors and companies, and Residential Land, once again, took part, with CEO, Bruce Ritchie, sitting on a seminar panel and giving a video interview for leading industry publication, Property Week.

You might ask why an event like MIPIM is so important to tenants – both current and prospective. The Central London private rental market is at a crucial juncture. Demand is soaring and as an industry we are looking to increase the supply of decent, well managed rental property. We’re also facing uncertain times ahead of the BREXIT vote, with many experts speculating how an ‘out’ vote might affect the UK’s property market.

 Bruce Ritchie has expertly linked the two milestones together, stating that Residential Land is looking for opportunities in turbulent times. He pointed out that BREXIT is making many property owners and investors nervous, and that Residential Land will look to make wholesale purchases from those wishing to sell Central London property. The byproduct will hopefully be an enlarged portfolio of quality property to rent in Central London from our professional landlord brand. Of course, our teams will make sure every flat or house is up to scratch with an expert management team in place before it reaches the open market.

 MIPIM brings together the world’s top property investors and a large contingency of those are looking to invest in Central London, thanks to our stable economy. MIPIM is a great chance to ‘power network’ – to make valuable connections in a short space of time. Forging new partnerships is vital as lettings moves into the era of institutional investment. Both the Build to Rent programme and the property-led focus of REITs is set to inject millions into the Central London private rental sector, and Residential Land wants to position itself at the heart of investment for the benefit of our tenants. For all the handshakes and signatures on dotted lines, the objective is to always bring more quality rental property to Central London and to make renting more affordable – both will become possible with increased investment.

 It’s fitting that we conclude with a look to the future. The buzzword to come from MIPIM 2016 was ‘professional’. With private lettings set to expand, the general consensus was the industry needs professional investors, professional landlords and professional bodies overseeing the sector for the benefit of all tenants. It’s something Residential Land wholeheartedly supports.

If you’re weighing up buying or renting in prime Central London, contact us to arrange a consultation or a viewing of our extensive portfolio of properties. We’re certain to have something to suit your needs and help you make the right decision.

How to avoid rogue landlords when renting a property in Central London

The phrase ‘rogue landlords’ has crept its way into popular language over the years, and unfortunately, it gives the lettings industry an unfair reputation. Although used profusely by journalists in headlines, rogue landlords are not as common as you might think.

Residential-Land-How-to-avoid-Rogue-landlords

If you are looking at property to rent in Central London, however, there are far more flats and houses to choose from and a greater chance that you might stumble across an unprofessional landlord.

 The Evening Standard’s Homes & Property section recently ran a headline using the term ‘rogue landlord’, even throwing in a ‘bogus landlord’ reference as well. It quoted an estimated 3,000 tenants in the UK who were ‘swindled’ by a landlord during 2015 –  a rise in this type of incident of 50%. Sadly, you could become the next statistic.

 If you’re viewing properties to rent in Central London or are wondering how safe it is to trust a landlord you may encounter via an online advert, we have prepared some safeguard advice that should help protect you and your deposit:-

  • Ask to meet the landlord at the property when you conduct any viewings and never agree to rent a property on the strength of online photos – always visit the property in person.
  • Use a legitimate website or agent when searching for properties to rent in Central London – some unscrupulous people advertise lets that don’t exist. Extra caution should be applied when following up rental leads on social media.
  • Ask for proof of how the landlord will hold and protect your deposit – there are a number of Government-backed schemes the landlord must use – we use MyDeposits.
  • Be aware if you are asked to pay a huge ‘holding’ fee to secure a rental property, especially if they ask for the money in cash.
  • Be suspicious if you are not asked to produce photo ID, proof of earnings and references. As of the 1st February 2016, Right to Rent checks have become mandatory and a law-abiding landlord will need retained proof that the tenant has the right to rent in this country. By asking for documentation, a landlord will be acting within the law.

Residential Land is a new type of private landlord – the largest in the capital, in fact – set up so tenants can rent a Central London property with peace of mind that they are dealing with an authentic, transparent landlord and a registered business. We have multiple industry-specific accreditations and memberships, including The British Property Federation, the National Association of Landlords, The Housing Ombudsman Service and The Association of Residential Management Agents, among others, and we comply with The London Rental Standard set out by the Mayor of London.

For extra security, Residential Land has a Tenants’ Charter that applies to every Central London property let and managed by us. This ensures we offer  the best possible service to every tenant, and that our actions are accountable at all times. Our full Tenants’ Charter is available to read online.

Browse online to read more about us and view our current properties to rent in Central London.

Presidents Club Charitable trust fully funds the HDU of Great Ormond Street Hospital

We are proud to announce that the Presidents Club Charitable Trusts generous donation helped to fully fund The High Dependency Unit at the Premier Inn Clinical building of Great Ormond Street Hospital.

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The hospital is now on schedule and on budget to complete the build next year. The donation helped the hospital and its staff to create a lasting legacy for  one-third of the young patients who undergo surgery every year. This is vital work which often cannot be carried out anywhere else in the country. The support means many more sick children will be able to access life-saving surgery and are able to recover with their families in the best possible environment.

The Presidents Club was founded almost 30 years ago to raise money for underprivileged children in London. Their vision; to help as many as possible. Over the years, esteemed members of the investment, real estate, sports, entertainment, motor industry and fashion world have come together to support the trust in its work to help as many worthy children’s causes.

Raining in London? Where to escape and stay dry

Despite some beautiful sunny days in London, the capital enjoys its fair share of rain. But don’t let that put you off enjoying what the city has to offer.

Residential Land - Rainy Day in London

As London letting agents working in the capital’s best locations, the Residential Land team can recommend some excellent indoor venues when wet weather strikes. Here’s our top six.

 

The Attendant – looking to escape the drizzle and dry out over a coffee? Look no further than the Attendant – a former Victorian public convenience set below ground level at 27a Foley Street in Fitzrovia. Although built as far back as 1890, it has since been transformed (and sanitised!) to create one of London’s quirkiest cafes, complete with original porcelain urinals!

 

Bourne and Hollingsworth - this cocktail bar continues Fitzrovia’s trend for subterranean hotspots that are perfect for precipitation-dodging. Situated at 28 Rathbone Place, expect floral wallpaper, lace tablecloths and vintage china in a nod to the twee. The cocktails, however, are firmly rooted in the 21st century.

 

Curzon Mayfair – stay warm, dry and entertained when you step inside this Curzon cinema at 38 Curzon Street. The Grade II listed building features two screens – a 311-seater with its two Royal Boxes still resplendent – and a smaller 83-seater venue. As well as films, expect live events and a thriving bar scene.

 

Hedone – this Michelin-starred restaurant on Chiswick High Road, is probably the most indulgent place to find respite in the middle of a downpour. Hopefully the rain will fall between 12 noon and 2.30pm, when the excellent value lunch menu is served.

 

Aspley House – London isn’t short of grand buildings but Aspley House is one of the finest. This Georgian Hyde Park property is open to the public, thanks to English Heritage, and houses one of the finest art collections in the capital. Gaze at the paintings by Velazquez and Rubens while the storm passes.

 

The Cockpit - this fringe theatre on Gateforth Street in Marylebone offers a diverse programme of performances, classes and events revolving around world news and political affairs. Shake off your umbrella and enjoy quick-witted and thought-provoking works.

 

If you’re looking for a London property close to our favourite venues,  call us today. We’d be happy to find your next flat to rent in Central London.

Residential Land make final shortlist at RESI Awards 2016

Asset Manager of  The Year - RESI 2016

Residential Land is delighted to announce that they have been nominated  for Asset Manager of the Year at this years RESI Awards.

With a record number of entries this year, it is a fantastic achievement to make the shortlist with four other reputable companies.

Asset Manager of the Year – Sponsored by Yardi

• Residential Land
• Fizzy Living
• Inspired Asset Management
• Mainstay
• Odysseus Capital Management

We are looking forward to the event and wish everyone the best of luck!


About RESI Awards
The RESI Awards organised by Property Week aim to celebrate the residential property market and its successes of the past year. Bringing together the key players in the market, the RESI Awards has played host to the likes of the Christian and Nick Candy, Tony Pidgley, Bruce Ritchie, Stephen Stone amongst others in the four years that it has been running. Already described as the key celebratory and networking event for the sector, the RESI Awards is a fantastic extension of the RESI conference, with both providing the vital ingredients to help this sector continue on its path to excellence. The RESI Awards return for the 5th year on 11 May 2016 at the Grosvenor House, London.

 

Property Week – Ritchie: ‘It’s a good time to sell non-core assets’

Residential Land is one of the top stories in this weeks Property Week, with the article about the sale of three west London properties.

property week - Residential Land

Residential Land has sold three west London properties for a combined £161m as it looks to raise capital for new value-add acquisitions.

The biggest deal is the £58m sale of Roland House (pictured), an art deco apartment complex on Old Brompton Road, South Kensington, to Gulshan Bhatia, the owner of hotel operator and developer Muirgold, whose portfolio also includes the Hilton Paddington and Hilton Waldorf hotels.

Residential Land has also sold Kew Bridge Court in Chiswick to Grainger for £57.5m, which represents a 4.35% yield; and the Thurloe Commercial retail scheme on Fulham Road to the Pramerica pension fund for £45.8m – a 3.49% yield.
The firm’s founder and chief executive Bruce Ritchie said the sales were part of a strategy to “release capital and invest in acquisitions where we see the opportunity to generate growth through enhancement and redevelopment”.

He added that amid current market uncertainty, it was the right time to offload mature assets. “As conversations continue around Brexit and new tax laws are set to come to fruition, now is a good time to sell stabilised non-core assets and reinvest in our value-add portfolio,” he said.

The 30,328 sq ft Roland House comprises 94 serviced apartments and two penthouse suites, which are currently rentable at prices of up to £730 per week. The sale, on which Residential Land was advised by JLL, represents a yield of 4.48%.

Thurloe Commercial is a 26,000 sq ft development that is home to eight retailers including: Ralph Lauren, the flagship London store of Italian furniture-maker Poltrona Frau and British furniture and homeware retailer OKA.

Kew Bridge Court is a 2.2-acre gated development consisting of 94 one-, two- and three-bedroom flats and four newly developed eco houses, and has planning consent for a further five penthouse units.

Residential Land - Property Week

Click to read article in Property Week

Supporting and helping to change lives of young women in Ukraine

 

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Back in 2012 Residential Land made a generous donation towards an emergency shelter to help homeless young women and girls at risk of HIV in Ukraine. The country has one of the of Europe’s worst AIDS epidemics with just 1 in 6 people infected with HIV on treatment – worse than in some African countries. 30% of women who live on the streets are estimated to be HIV positive.

Due to Residential Land’s donation and support, Elton John AIDS foundation was able to partner with a local charity  called HealthRight to give a lifeline to hundreds of vulnerable women and their children in Ukraine. This project assisted women and girls who lived on the streets – women from unstable and abusive environments and the victims of sexual attacks at constant risk of contracting HIV. With the money that was donated charity  was able  to provide safe accommodation and range of services, such as HIV testing, counselling and childcare.

During the course of this project, the charity have been able to enrol over 1,000 young women in HealthRisk  Service Centre in Kiev and over 600 of their children. Halfway House is a safe space for their most vulnerable clients has provided refuge to around 100 women and their children.

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Four years on with the help of our initial funding  for this project, both the Service Centre and Halfway House have been recognised as pioneering models of service provision and have been backed financially by the Ukrainian Government. This means HealthRight – which has also received further funding from MAC AIDS Fund to provide HIV – focused services to young women in Kiev – will be able to continue  this important work well into the future.

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