Residential Land General Section

RESI’s Next Big Thing 2012

RESI 2012 - A new era of opportunity

Do you have an idea that could revolutionise residential property?

Do you have an investment proposition? Do you have the latest industry invention or a plan to further the green agenda?

As part of this year’s Property Week RESI conference, we are looking for inventive residential investment ideas to be pitched to a panel of judges live on the RESI stage.

The judging panel will be chaired by Residential Land CEO and founder Bruce Ritchie, alongside fellow industry heavyweights Nick Candy, Harry Handelsman and John Hitchcox.

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Digital Switchover – tenants ready

The notice below is for all Residential Land tenants regarding the Digital Switchover occuring in April 2012:

Dear Tenants,

As you may or may not be aware the United Kingdom is switching over from an analogue signal to a digital signal for televisions on the 4th April 2012.

The main priority for you as a Tenant unless you have Freeview/Satellite television is on the 4th and 18th April where you will be required to re-tune your televisions to receive the digital signal.

You will be pleased to know that Residential Land have already upgraded the communal aerial to your building as per the Landlord responsibilities so allowing you to receive the new digital picture.

There are a couple of points we would like to bring to your attention therefore allowing you an easy transfer over to the digital signal.  All Sky Satellite systems will automatically update themselves.  However if you have a non-digital television you will have to purchase a digital Freeview box which can be purchased from many high-street stores such as Argos, Comet, and all electrical/ television suppliers.

For further information please visit:
www.digitaltvnow.co.uk/digital-switchover.html

We are of the understanding that after the 18th April 2012 there may still be a few issuesdue to technical changes in the frequency which are beyond your landlord’s control; if you experience any issues please contact our recommended Television Repairman:

Satland Limited, please call Azi on 07944 441173 to arrange an appointment.

Call out charges:  £25.00 (within 7 days response call-out charge)

£40.00 (within 24 hours response call-out charge)

If the problem is found to be the Tenant’s liability (ie – with tenant’s own television set) then the Tenant will be responsible to pay.  If the liability is found to be within the Landlord’s responsibility we will then pay for the repair.

Residential Land have organised an email account where Tenants can send their switchover-specific queries to: switchover@residentialland.com and a response will be sent within 24hours.

We do hope this process runs smoothly and we will do all we can to help if there are any problems.

Will the 2012 budget effect residential property in London?

Richard Berridge, Sales & Acquisition Consultant at Residential Land recently commented on the 2012 Budget and how it is likely to effect Residential property in London:

The 2012 Budget is being touted as ‘fiscally neutral’  and it is clear the George Osborne is adhering to his deficit cutting plan and global  credit agencies placing Britain on a negative watch/outlook will have hardened his resolve in doing so.

It wasn’t the greatest budget for Prime Central London property owners as the Chancellor has bowed to pressure from within the coalition to ensure the ‘rich’ pay their ‘fair share’. This now means that residential properties valued at £2m and above will now attract SDLT at 7%.

Residential properties at this value level bought via a company structure will be subject to a 15% levy. The Budget report refers to ‘certain non- natural persons’ as an initial guide to their intentions, but the specifics are far from clear.  Since these ‘regulations’ came into effect on 21st  March, immediate tax planning is going to be entertaining…

Companies owning residential properties worth £2m+ may also be subject to an annual tax. Although this is subject to consultation and will not apply until April 2013. Again, the devil will be in the detail.

At Residential Land we believe these measures are aimed at individuals looking to avoid paying SDLT at prevailing  rates, and not bona fide property investment/development companies.  Therefore, we  are of the opinion that  the increase in SDLT announced by the Chancellor will not have any great impact on the residential investment industry or the  PRS.  In fact, were such measures be found to have a deleterious impact on our industry, it would be clearly counter –intuitive to current government policy of encouraging inward investment.

We’ll know more at the end of the month when the finance bill is published, but we’re not fretting about it.

A brief summary of the salient points:

SDLT of 7%  was announced for residential properties over £2m from midnight today. Any such homes purchased through ‘certain non-natural’  corporate structure will be liable for 15% SDLT

The Government will extend the capital gains tax regime to gains on the disposal of UK residential property and shares/interests in such property by non-residents.

Individuals currently paying tax at the highest rate, 50%, will have that rate reduced to 45% in April 2013.

The personal tax allowance will be raised to by £1,100 (13%) to £9,205 in April 2013.

The current level of Corporation tax will be cut from 26% to 24%in April 2012 and will reduce to 22% in 2014.

A new general anti-tax avoidance rule will be introduced.

Companies are using the VAT rules that exempt the rental of land to avoid tax that their competitors are paying.  This  may have implications for both taxpaying funds and non-tax paying organisations such as charities and trusts

Further Government support for £150m of tax increment financing to assist  councils in promoting  development towards delivering  3,000 new homes.

Residential Land @ MIPIM 2012

The Residential Land team will be attending MIPIM 2012 from noon on Tuesday 6th March until Friday 9th March.

  • Are you an Agent with stock to sell?
  • Are you an Owner or Investor in need of a development partner?
  • Are you a Banker or Lender looking to sell down a piece of debt?
  • Are you a Developer looking to pre-sell an existing development?

If you are attending MIPIM this year and have any Prime Central London residential opportunities, we want to speak to you.

We are looking to buy existing blocks of flats or lines of houses, new build, off plan and half-finished developments.

The Residential Land team attending MIPIM 2012 will include:

Richard Cotton
Property Director
Richard Berridge
Senior Acquisition Consultant
Bruce Ritchie
CEO

We will be on board Melody Nelson II on Jetee Albert Edouard – come and talk to us.

To arrange a meeting with any of our team, email enquiries@residentialland.com or call Vanessa on 0207 408 5155.

Residential Land @ MIPIM - on board Melody Nelson II on Jetee Albert Edouard

Which property subsector will be the best performer in 2012 ?

In a recent Property Week poll, 11 senior property people were asked the question:

Which property subsector will be the best performer in 2012 ?

7 out of the 11 voted residential as the best performing subsector and five of those asked, namely Aubrey Adams, David Marks, Fraser Greenshields, Jamie Ritblat and Mike Hussey voted specifically for prime central London.

This local support for the capital has recently been endorsed for Residential Land by the announcement that Ivanhoe Cambridge from Canada and Apollo Global Real Estate Management have agreed to jointly invest with Residential Land in the residential investment sector in Prime Central London .

This financial support for Residential Land means the Company’s appetite for new property is much enhanced. We are looking to looking to acquire residential developments for our expanding portfolio. If you have any opportunities, please contact one of our Acquisition Consultants or email enquiries@residentialland.com.

Why everyone wants to live in Hampstead

The allure of Hampstead, with its stunning architecture, bespoke houses, indulgent mansion flats, cobbled lanes, tree lined avenues, fantastic boutique shops, cafes and restaurants, celebrity residents and 791 acres of the fabulous Hampstead Heath, arguably makes it the most prestigious of London’s high-brow postcodes.

View from Hampstead Heath, NW3

But what really makes NW3 so high-end and, how does the NW3 postcode command such a premium in property prices?

Since the 18th and 19th centuries, actors, playwrights, artists of every genre, émigrés, avant-garde ‘misfits’ and business tycoons have been drawn to Hampstead as a place where they felt valued, esteemed and respected for their work and ideals. A nostalgic affection for such individuals has fostered a desire to belong to this set and ever since, countless generations of artists, including Agatha Christie, John Keats, Henry Moore and Dame Judy Dench, have been lured to Hampstead.

The vast wealth of this prized neighbourhood is fuelled by the number of high profile residents that call home to residents such as Sting, Helena Bonham Carter, Boy George, Stephen Fry and Liam Gallagher.  A lust for life amongst pop idols and film stars has seen competition for property burgeon, and as a result, property prices in the area are increasingly high.

So aside from this nostalgic connection to Hampstead’s avant-garde past and current Hollywood allure, what else is key to its popularity?

Hampstead has a unique, chic character and style, luxurious local amenities and an unbeatable location.  Its centrality in zone 2 of the Underground network is a big plus. Residents of NW3 have access to three different tube lines (Metropolitan, Jubilee and Northern lines), as well as a host of bus and national rail services.

Perhaps it is its iconic patch of countryside, Hampstead Heath, that rises high above the London skyline? Hampstead Heath does after all offer residents and visitors 791 acres of public parkland, beautiful views and the well-known heath is a celebrity in its own right, having featured in countless films and TV shows.

But the heath’s A-list status is also born of its versatility. It hosts concerts, plays, festivals and community get-togethers as well as family picnics, romantic proposals and has parks perfect for ball games, walking paths and even its own racecourse.  It is also the location of a number of museum houses that remain crucial to preserving British history.

These are great characteristics and genuine reasons why buyers willingly pay a higher price for property in Hampstead. But something else makes Hampstead so esteemed.

Hampstead is prestigious, purely because it always has been. It now has more millionaires within its boundaries than any other area in the UK* and because its people uphold the traditionally glamourous image, Hampstead will continue to impress for years to come.

Hot Property:

Rosslyn Hill - Luxury Apartments in Hampstead

Rosslyn Hill - Luxury Apartments in Hampstead

Luxury apartments for Sale on Rosslyn Hill

Rosslyn Hill, which adjoins the south of popular Hampstead High Street, has long been an affluent and glamourous residential area of NW3. At number 2 is a beautifully presented former Georgian hotel.

A two bedroom garden flat is on offer in this block for £995,000. Alternatively the two bedroom penthouse, with study, is available for £1.45m.

Contact Residential Land for more information on this and other prime central London property: 020 7408 5155 or visit www.residentialland.com

RESI 2011 Dragons Den

RESI 2011 was the best RESI yet. More than 1,000 people attended this year’s residential property event at the Celtic Manor in Wales. The highlight of this year’s conference was the RESI Dragons’ Den, a take on the popular TV show where residential property business ideas were pitched to a panel of influential experts.

Bruce Ritchie, CEO of Residential Land, was the panel chair and judge – bringing with him fellow residential property experts Tony Pidgley, Nick Candy and ex-Dragon himself, James Caan.

Entrants to the competition were required to submit a 500 word proposal about their business idea. The judges were looking for innovative, serious and determined proposals. A short list was drawn up and 4 finalists were chosen to present their pitches to the panel and audience at the RESI conference in the Canaerfon Suite. Property Week filmed each of the pitches:

Lucky Wu: A Chinese property portal setup by Sherry Madera to showcase overseas property to Asian investors

Click-to-Purchase: A website created by Neil Singer that provides real-time property auctions

My Space Pod: Affordable custom built accommodation made from recycled shipping containers, presented by Sam Minionis

CheckYourLet: A ‘TripAdvisor style’ review website for private rental properties pitched by Howard Morgan

Each of the confident pitches had business merit in their own right, but it was Howard Morgan, Managing Director of consultancy firm RealService whose idea for a private-rented sector review site won the support of the four RESI dragons’.

The audience too seemed to be behind the idea as Morgan confidently pointed out that such site already existed in the US and said “Something like this would come to the industry anyway and therefore it’s much better to be organised professionally, co-ordinated and supported by the people in the industry.” After Morgan successfully swayed the judges and walked away with a prize trip to Austria, he was quickly cleaned out of business cards by potential backers in the audience.

The Portobello pop up kitchen that never popped down

Residential Land’s tenants living at Portobello Lofts and Portobello Aparmtents are enjoying all the amenities that the area has to offer including the pop up kitchen which is situated in a converted wharf building overlooking the Grand Union Canal. “Dock Kitchen” lies within the Portobello Dock urban regeneration project and first appeared as a pop up restaurant in April 2010. After meeting at River Café, “Dock Kitchen” was set up by Stevie Parle and Joseph Trivelli and drawing on his experiences in Sri Lanka, New York, Japan and Vietnam head chef Stevie cooks a changing daily lunch menu plus a set evening menu which is themed differently every week.

Portobello Dock residents can still enjoy Dock Kitchen!

The Portobello Dock development was created by Derwent London as part of the extensive redevelopment of the former Virgin headquarters. Portobello Dock has become an increasingly popular area to rent and buy property, it is a hidden gem along a very well manicured part of the canal.

Transport links include Kensal Green underground station (Bakerloo Line) which is only 0.7 miles away and Kensal Rise national rail station just 0.8 miles away.

If you are looking to rent around Portobello Dock visit our site: Rent in W10

New tenants to receive Home Move Boxes

Home Move Box

Residential Land are now providing all new long-term tenants who rent one of our properties a ‘Home Move Box’ to help make their moving day a little easier.

The home move box is bursting with multipurpose essential products such as long life milk, cleaning products, a pay as you go sim card, discounts and vouchers for various brands.

Residential Land’s Corporate Lettings Manager, Stuart Birke says “The Home Move Box will help take a little of the stress out of moving into a new property and should make the tenant feel welcome in their new home”.