Residential Land Company News Section

Right to Rent – Immigration checks

The Home Office has announced a roll out across England of ‘Right to Rent’ checks from 1 February 2016, as part of the Immigration Act 2014.

Please read Residential Land’s terms and conditions here

Right to rent

Right to rent – Immigration checks

The new measures mean that anyone allowing a tenancy to begin after 1 February 2016 must, if asked, be able to produce evidence that they have seen and made copies of acceptable ID prior to the start of the tenancy.

Eligible Documents
Landlords will need to check and retain copies of certain documents that show a potential tenant has the right to live in the UK.

These include:

- UK passport
- EEA passport or identity card
- Permanent residence card or travel document showing indefinite leave to remain
- Home Office immigration status document
- Certificate of registration or naturalisation as a British citizen.

What is the “right to rent” legislation?

From the 1st December 2014, UK landlords could face civil penalties if they rent homes to illegal immigrants without carrying out the appropriate checks, ‘right to rent’ checks.

This means all private landlords, or their agents, in England, including those subletting or taking in lodgers, will have to check new tenants have the right to be in the UK before renting out their property. It does not apply to Wales or Scotland at this point.

More information can be found on the GOV website here

Residential Land exhibits at MIPIM UK 2015

Residential Land is fresh from exhibiting at MIPIM UK – the largest UK property trade show where over 4,000 of the industry’s leading professionals, politicians, investors and decision makers gather over the course of three days, this time at London’s Olympia.

Residential Land exhibits at MIPIM UK 2015

The management, development and acquisitions teams manned the Residential Land stand, which featured a novel mobile phone charging table – an instant hit with visitors who were inevitably running low on battery power with so much to Tweet about.  The stand also offered delegates the chance to recharge on a different level, with a continuous, free supply of frozen yoghurt with toppings from our fro-yo bar, and fresh coffee complete with monogrammed Residential Land latte art – a real boost for energy levels given the never-ending programme of seminars, debates and networking for which MIPIM is renowned.

 The Residential Land stand was busy from the moment MIPIM opened, reflecting the growing importance of quality accommodation in London’s private rental sector. Visitors to the stand were able to watch a large screen showing all Residential Land acquisitions so far, demonstrating our flair for discovering great opportunities and creating superb private rental accommodation.

 And just in case you’re wondering what property professionals like to top their frozen yoghurt with, the most popular toppings were raspberries, brownies and mini M&Ms. See you next year!

 For more information on MIPIM and our portfolio of properties for sale or rent in Prime Central London, please don’t hesitate to contact us.

London’s social housing, super-prime and everything in between – A plague on both houses

Bruce Ritchie, Residential Land’s CEO and Founder, comments on London’s social housing, super-prime and everything in between in MIPIM UK Daily News. Bruce Ritchie has also been on the panel discussing the same topic together with Nick Candy, CEO of Candy & Candy, Iain Gilbey Head of Planning & Environment  in Pinsent Masons,  Stephen Howlett, Chief Executive of Peabody and Ritchard Fletcher, Business Editor for “The Times”.


A plague on both houses

From social housing to super prime. No subject could be more relevant in today’s London residential market, and here’s why. To begin with, we need to understand that in London, residential has traditionally performed more strongly than commercial property. Discard arguments about relatively low yields – the capital growth achieved by London residential beats commercial over any period in recent times.

But in recent years we have had the perfect storm of tax changes in residential. From the introduction of annual tax on enveloped dwellings to offshore capital gains tax, from clampdowns on corporate vehicles buying property to the removal of buy-to-let relief, and then the one that threatens to tip the market over the edge – stamp duty land tax.

The principle underpinning UK home ownership is that you do not pay tax on the gains on your personal primary residence over the long term. Imagine you are a homeowner who 10 years ago bought a flat for £1m, spent more than £500,000 on it since, and it is now worth £2.5m. Anyone looking to buy your home is likely to discount their offer by up to £300,000 to take in to account the new stamp duty land tax rate. This is the equivalent of 30% tax on the profit you have made, not taking into account the 12% stamp duty you will pay on your next £2.5m home.

Big numbers scare purchasers. A 9% upper band between £1.5m and £10m with 10% over this level would have been a better call. In London the market has cooled considerably for homes priced between £5m and £10m, less between £2.5m and £5m and is continuing to hold its own but with reduced volume in the £1.5m to £2m bracket. Some might say this was the chancellor’s aim, to slow the market and bring in revenues. However, there are consequences.

While moving to a “slab” system of stamp duty designed to harvest more tax from the rich, the unanticipated consequence will also be to limit the supply of affordable homes for the less well-off. This is because the profit generated on
flats priced above £2m in a large development funds the affordable housing that is also built as a result of the development.

Force a discount in the price of the larger, more expensive flats and you limit the scope of the developer to provide affordable housing within that scheme.

The good news is that in the long term London still has a golden future for residential. For the long-term buyer, there is quite simply no better store for wealth.

As the global economic situation becomes more volatile, the “gold standard” of London residential property only increases the city’s appeal.

At the same time, a lack of cheap and readily available land, a complex planning system and other barriers to development, such as the community infrastructure levy and s106 requirements, mean housing supply in London isn’t going to increase sharply any time soon.

It is vital that policy makers understand that the supply of “social housing to super prime” is inextricably linked to the prices achieved. Without understanding that link, the capital will struggle to provide the affordable homes
it needs.

To see the full article in the MIPIM UK Dailies Day 1, please follow the link here >>

Staying safe online

Using computers, tablets and mobile phones to go online has made everyday activities such as keeping in touch, social media, shopping and paying bills easy and fast. Although there are many risks out there which are crucial to be aware of.

Stay safe online

Top 10 tips to stay safe online
- When shopping, paying or banking online, always make sure the website is secure. If you have been sent account details, double check by phone if these are correct and have come from the appropriate person you think they have.
- Make sure your computer has up-to-date internet security software, switched on.
- Don’t reveal personal information on social networking sites such as twitter and facebook.
- Don’t forget to back up smartphone/tablets and computers quite regularly
- NEVER reveal your password or PIN when asked either by email or by phone.
- Make sure your WIFI is secure at all times.
- Be careful who you are selling to and buying from on auction sites.
- Choose strong passwords, change them regularly and don’t tell anybody what they are.
- Always download the latest software and operating system updates when prompted.
- Remember smartphones and tablets are also a target for viruses.

Making you sure you stay safe via email

Email is a great tool to communicate and inform others. However it is regularly used to deliver unwanted content, sometime just annoying but often it can be malicious, causing harm to your computer or even yourself.

Phishing emails
Phishing is a scam criminals typically send emails to thousands of people and pretend to come from banks, credit card companies, online shops, as well as other trusted organisations. What normally happens is they try and make you click on a link and go to a website to change/ update your password. It normally takes you to a dummy website which is almost identical to the real thing, trying to trick you in entering your personal information.

The email often looks as if it comes from a genuine email address or person. Below are some of the things that you should look out for::
- The sender’s email address is different from the trusted organisation’s website address.
- The email is sent from a completely different address.
- The email doesn’t use your name, but uses a non-specific salutation such as “Dear customer.”
- The email comes with a sense of urgency; for example; if you don’t act immediately your account may be closed.
- If there is a prominent website link and not much, if any text.
- When asked for personal information such as your username, password or bank details.
- When you are not expecting an email from the organisation that appears to have sent it.
- The entire email is one large image rather than including some sort of text and the image contains a link to a random website

Residential Land complete on Hamlet Gardens

Residential Land is pleased to announce the purchase of Hamlet Gardens in Hammersmith, west London. This red brick Victorian Mansion block consists of 122 luxury flats and is set at 95,000 sq ft.

Hamlet Gardens flats to rent Residential Land

For further information, please read the below article that was covered in Property Week:

property week - Residential Land





Residential Land primed to buy luxury flats in London
By Hannah Brenton

Hamlet Gardens, Hammersmith, London
The residential investor has agreed to buy the 95,000 sq ft Hamlet Gardens development from Swedish investor Akelius for around £95m.

The purchase amount reflects a price of around £1,000/sq ft across the scheme near Ravenscourt Park.

The private rented sector specialist has been on an acquisition spree since securing further backing from Canadian pension fund giant Ivanhoé Cambridge for a fifth Residential Land fund in February.

The new £650m fund is focused on a broader area of prime central London, and its upper price point for investment has increased from £1,500/sq ft to £1,650/sq ft.

In June, it snapped up Chase New Homes’ residential scheme at Palace Wharf in Fulham at £1,250/sq ft – in a deal worth approximately £37m – as well as a luxury 60-flat scheme at 4b Merchant Square, Paddington, for £60m from Native Land and Malaysian investor Amcorp.

Akelius has renovated the majority of the properties at Hamlet Gardens since purchasing them from an arm of the Royal Bank of Scotland for more than £40m in 2013.

Three final phases are still being renovated but these have been forward-purchased by Residential Land and are included in the purchase price.

Similar flats in the area have recently sold for as much as £800,000.

“We believe that there will be growth in the area around Ravenscourt Park and are pleased to have invested another £100m in the prime central London market,” said Ritchie. 

Residential Land bolster Lettings team

merchant Square and Kew Bridge Court

Residential Land has bolstered its Lettings team with the new appointments of two new Building Managers who will be based on site in their respective buildings. Gary Irwin who joins as Building Manager to manage our new Merchant Square Development in London W2 and Charlotte Pearson who joins as Building Manager to oversee Kew Bridge Court, London W4.

Gary joins from JAC Strattons where he was responsible for local lettings in the Regents Park,St Johns Wood and Maida Vale areas.

Charlotte joins from Vesper Homes where her responsibilities included negotiating sales, rentals and sourcing new properties throughout London.

Stuart Birke, Head of Lettings, comments: “We are pleased to welcome both Gary and Charlotte to our team here at Residential Land and I am sure they will provide the same professional, friendly and responsive service people expect from Residential Land.”

Residential Land is attending RESI Conference 2015

Residential Land at RESI 2015

Residential Land is excited to be heading back to Celtic Manor for the RESI Conference 2015 as well as being Platinum Sponsors for the eighth year running. This is the ninth year of the annual conference which attracts over 1,000 delegates for 2 days of learning, debate and networking.

This year you can find us in the Platinum Lounge located next to the main conference hall. The Platinum Lounge is open throughout the event so we look forward to welcoming you during lunch or in one of the breaks, please also come along to the pre-dinner drinks from 5.30 on Tuesday. Residential Land is also hosting after dinner drinks at Merlin’s Bar, looking forward to seeing you there.

On day 2, Tuesday at 12.30pm, Bruce Ritchie will be speaking on a panel alongside Bill Hughes, Managing Director, Legal and General Property and James Scott, Chief Operating Office, The Collective, being chaired by Mark Prisk MP. They will be discussing a number of property related topics, detailed below.

Panel topics:
From First time Customer to Last Time Customer, are we creating the right products?
• Segmenting the market and creating targeted products that acknowledge the changing needs, expectations and aspirations of different occupier groups
• What do ‘generation rent’ want from their housing and are the current products in the market taking them into consideration?
• Last Time Buyers – the key to unlocking housing supply?
• Beyond the bricks and mortar: exploring PRS as a service and the added value that customers now expect.

VIDEO – RESI Conference 2014
Bruce Ritchie being interviewed at last year’s RESI Conference

If you are attending, we are looking forward to meeting you there.

Fighting talk ahead as property heavyweights prepare to square up

Residential Land have been mentioned in the Evening Standard ahead of the Props Breakfast in October hosted at the Dorchester, London. This year Bruce Ritchie CEO of Residential Land & Michael Slade CEO of Helical Bar will partake in a live Commercial vs Residential debate hosted by Emma Crosby.

Michael Slade has for a number of years run one of the most successful public property companies whilst Bruce Ritchie runs one of prime Central London’s largest residential landlords who are making a significant impact in the sector. With London and residential being hot topics in real estate at the moment

Props breakfast 2015

For the article, please read below:


Fighting talk ahead as property heavyweights prepare to square up

The first rule of Fight Club is, you do not tweet about Fight Club — that’s how it goes, right?

Well obviously someone’s been breaking the rules, as Spy spots #FightClub creating waves on Twitter. Was it Ed Norton and Brad Pitt bemoaning the demise of the Fail Whale?

Alas not. It was property types getting excited about a Props charity debate between Mike Slade of Helical Bar and Bruce Ritchie of Residential Land, slated for the Dorchester in October. The pair will thrash it out in a commercial real estate v residential debate, a third speaker — Robert Paulson — is as yet unconfirmed.

Bruce Ritchie talks to Estates Gazette on the hot topic of price per sq ft in London

Bruce Ritchie, CEO of Residential Land, talks to Alex Peace at Estates Gazette on the findings from their London Residential Research team, showing that price per sq ft in London has been driven through the £1000 per sq ft mark, not only in Prime Central London areas but the fringe areas surrounding it as well.

Bruce Ritchie explains: “Prime Central London has not resolved its supply problems and is not creating enough new product. Too much demand from both domestic and international, for what it is we have, both for sale and being built and that is pushing prices in the upwards direction.”

To listen to more, click the play button on the podcast below:

Bruce Ritchie talks to Estates Gazette

Click here to read the full article >>

Upcoming Events this Summer in Chelsea

With galleries and green spaces galore in South West London, there’s plenty to keep you entertained here during the summer months. Whether you’re interested in checking out cutting-edge contemporary art, learning about herbs and botany or buying up a few paintings from budding artists, Chelsea is buzzing with activities and events during July and August.

Saatchi Gallery - Chelsea | Image credits:-

Saatchi Gallery – Chelsea | Image credits:-

Art Safari at Chelsea Physic Garden 

Chelsea Physic Garden is one of South West London’s best assets with a beautiful collection of plants and botanicals and the esteemed title of second oldest botanical garden in Britain. If you’re keen to learn more about the world of botany, book yourself in for the family-friendly Art Safari on August 4th for a journey through herbal medicines, vampire plants, birds, perfumes and more.

Address: 66 Royal Hospital Road, London SW3 4HS
Phone: 020 7352 5646

Serpentine Pavilion 2015

Celebrate fifteen years of the Serpentine Pavilion with a visit to the stunning Serpentine Pavilion 2015, on display from June until October. Designed by Spanish architecture studio selgascano (headed by José Selgas and Lucía Cano), the colourful installation is made up of panels of translucent, multi-coloured polymer giving it a stained glass effect and can easily be spotted from the other side of Hyde Park! Admission is free too so you’ve no excuse not to pop in and explore the secret tunnels and passages inside.

Address: Kensington Gardens, London W2 3XA
Phone: 020 7402 6075

Fighting History at the Tate Britain 

Enjoy a history lesson at the Tate Britain this summer with the exhaustive ‘Fighting History’ exhibition, which explores how artists from the Ancient Rome to the modern day have expressed significant wars and conflicts through art. With epic 18th century paintings, contemporary works from Turner Prize winner Jeremy Deller and interpretive works from the 1960s, it’s the ultimate combination of art, history and politics.

Address: Millbank, London SW1P 4RG
Phone: 020 7887 8888

Parallax Art Fair Finished

Prefer to purchase art rather than see it in a gallery? Visit Chelsea Old Town Hall on July 25th – 26th for the annual Parallax Art Fair, Europe’s largest artist art fair where you can find wholesale fine, decorative and applied art from around the world. Entrance is free, and there are no commission fees either so it’s an excellent place to pick up a bargain.

Address: Chelsea Old Town Hall, King’s Rd, London SW3 5EE
Phone: 020 7361 2220

Dead: A Celebration of Mortality at the Saatchi Gallery - Finished

Charles Saatchi’s innovative contemporary art gallery have done it again with this rather morbid but undoubtedly fascinating exhibition, on display until the end of July. Respected artists across the world have come together for this celebration of mortality, which includes model corpses and abstract skeletons. Best enjoyed on a nice day with an uplifting ice cream in Duke of York Square afterwards.

Address: Duke Of York’s HQ, King’s Rd, London SW3 4RY
Phone: 020 7811 3070

Find available properties in Chelsea:
Available properties in Peony Court Town Houses >>
Available properties in Peony Court Apartments >>
Available properties in Pond Place >>