Residential Land Property News Section

Residential Land goes offplan in west London

Residential Land is proud to announce that it has completed on Palace Wharf, a deal for a riverside scheme in Fulham that has planning permission for 27 residential units.

For further information please read the article in Property Week below or follow the link to read it on the Property Week website

Ritchie’s Residential Land goes offplan in west London

Bruce Ritchie’s Residential Land has completed a major off-plan residential purchase in west London, after taking advantage of a lull in the Asian forward-sales market.

Backed by Canadian pension fund giant Ivanhoé Cambridge, the private rented sector (PRS) specialist has forward-purchased Chase New Homes’ scheme at Palace Wharf in Fulham at £1,250/sq ft – with the deal worth around £37m in total.

Palace Wharf, Fulham

Palace Wharf, Fulham

The site, near the famous River Café, has planning consent for 27 residential units, comprising five townhouses and 22 flats. “We see that to fulfil our stock requirements we need to be buying new as well as existing [stock],” Residential Land chief executive Ritchie told Property Week. “There’s an opportunity while Asian markets cool for us to replace that Far Eastern buyer with investor money, PRS money, rather than ‘export money’.”

The deal is Ritchie’s first off-plan purchase with Ivanhoé Cambridge and comes after Ivanhoé invested in 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.

As well as buying the Fulham scheme, Residential Land has sold a £47m residential block in Marylebone to a group of Middle Eastern investors. Elliott House, 1 Molyneux Street, has been sold to developer Coronado – with backing from Shariah-compliant Al-Rayan bank.

Residential Land had already stripped out the building after receiving planning permission in 2012 to increase the size of the 1930s block from 28,500 sq ft to 35,500 sq ft – increasing the number of flats from 23 to 31.

Coronado will now take over the redevelopment to create the enlarged building, with Residential Land exiting at a price of £1,650 on the existing square footage.

Ritchie said it was a sign Shariah-compliant purchasers were becoming more comfortable with development.

Prime Central London prices rise above 2007 peak values

Central London residential prices have now risen by about 16% above their 2007 peak values, but the widespread industry consensus of opinion is that values will continue to grow , putting the sector in to a super prime category compared to the rest of the UK and other world cities. This was highlighted in a recent CBRE report entitled ‘Why London Still Packs a Superprime Punch’ – download it here.

Residential supply remains restricted, and both domestic and international demand, particularly from the Far East remains very strong.

The reasons for this overseas demand remain the same, overall quality of environment for foreign owners, safety for assets and persons and easy access. In addition and as importantly there is a good choice of apartments and houses to choose from, all designed and finished to the highest world standards.

Residential Land remains committed to this sector, both in the traditional prime areas of Mayfair, Knightsbridge and Belgravia, but also in the newer prime pockets in St John’s Wood, Hampstead and Regents Park and are actively seeking to increase their portfolio.

If you have any opportunities, both existing or new build, contact our acquisition experts here or email

Savills spotlight on Prime Rental Markets

Savills have recently produced their 2011/2012 Winter report on prime rental markets.

Their key findings are:

  • In the face of economic uncertainty, prime rental growth has slowed.
  • However, stock levels have been contained as renewal rates have remained high and tenants have sought increased tenancy lengths.
  • Over the medium term, tenant demand and rent levels will remain driven by limited mortgage availability and increased demand from those delaying house purchasing.
  • In the short term this will be tempered by the outlook for the financial and business sector, which is a key component of rental demand.

The report states that whilst growth has recently eased in the prime rental market of London, rental growth is expected to outperform the UK over the next five years.

Residential Land has all of its residential investment portfolio in prime central London and continues to experience high levels of occupancy and growing rent levels.  The company continues to look for new investment opportunities.

If you have any residential property opportunities within Prime Central London please contact one the Residential Land’s acquisition team or email

To download a copy of the Savills report, visit:

Lord Digby Jones – Prime London property prices likely to rise

Former government minister and CBI head Lord Digby Jones was the subject of this weeks ‘Fame and Fortune’ interview within the Money Section of the Sunday Times.

When asked “Is property still a good investment?” his response was “Yes , especially in London. I don’t think you can go wrong buying a flat in London and putting in a tenant . I will look to invest again, perhaps in the prime market , where the value is most likely to rise , though probably at the lower end of prime, where yields are higher “.

Residential Land are prime central London experts and we are actively seeking to increase our portfolio. If you have any opportunities for us, contact one of our acquisition experts or email

RESI 2011 – best attended to date

Residential Land was pleased to be a platinum sponsor of RESI 2011. It was the best attended RESI conference to date and confirms it as the premier residential property event in the UK property calendar.

Against a gloomy global economic background, there was much debate about the new coalition planning proposals and the Conference was fortunate to have Secretary of State Eric Pickles to address the conference and to answer questions. Bruce Ritchie also chaired a residential focused Dragons Den which was a highlight of the conference. The residential sector is still struggling with a shortage of mortgage availability, and affordability challenges for first time buyers in particular. What came through clearly though was the strength of the Private Rented Sector and the Central London Market.

RESI 2011 - Busiest conference to date

RESI 2011 - Busiest conference to date

Residential land operates exclusively in this market place and is well placed to grow its business accordingly. The Company is in buying mode and anyone knowing of blocks of flats for sale should get in touch with a member of our acquisitions team. If you have any opportunities worth discussing, email or visit

Bruce Ritchie to chair the Dragons Den at RESI 2011

Bruce Ritchie, CEO and founder of Residential Land is set to chair a new and exciting panel at the RESI conference held at Celtic Manor Hotel in Newport, South Wales. Alongside fellow property specialists and entrepreneurs Nick Candy and Tony Pidgeley and former Dragon James Caan, Bruce will be quizzing presenters on all aspects of their business propositions. The event organisers are currently looking for innovative proposals from serious candidates to present to the four judges. All ideas are welcome; whether it is an investment proposition or a new concept in design or something to assist house building. This will be a great platform to get your ideas out into the market and to get some great ideas from people who have been in your position.

Submit your proposals via by 30th July when Bruce and the other judges will shortlist the top four to present their ideas.

Good Luck, we look forward to seeing you at the event in September!!

Residential Land – Tenancy Deposit Scheme News

Tenancy Deposit Scheme – Threshold increased to £100,000.

The Tenancy Deposit Scheme was first introduced in April 2007, where residential landlords holding an assured shorthold tenancy with a rental income upto £25,000 were required by law to hold their tenants’ deposits in an authorised scheme for the first time. The scheme was introduced to protect deposit monies and to ensure that residential landlords were held fully accountable for the deposits they took from tenants at the start of the tenancy.

Now 3 years on, the rental income threshold has increased to include all tenancies with annual rent up to £100,000.  The changes came into force on 1st October this year and any residential landlords who earn a rental annual income from a single tenancy of £100,000 need to ensure that their tenants’ deposits are placed in one of the three authorised schemes.

The new threshold applies to existing tenancies where the deposits were taken after 6 April 2007, not just those created after October 2010 when the laws come into force.

Landlords holding an assured shorthold tenancy to which the legislation applies are required to register the deposit taken from the tenant with one of the three statutory protection schemes within 14 days of receiving the deposit and provide prescribed information to the tenant.

Residential Land has over 1,200 rental properties in central London and with the AST threshold being increased to £100,000 per annum and many of Residential Land’s existing contractual tenancies exceeding £25,000 per annum our lettings team had to ensure that current deposits held within this bracket were all registered prior to 1st October.  Residential Land uses My Deposits deposit protection which is an insurance based scheme, for full information please visit

Residential Land are Prime Central London’s largest private landlord, specialists dealing in flats for rent, property investment sales and acquisitions. To view our latest rental properties click here

Imperial College Student Housing

Residential Land are attending the Imperial College Private Housing Talk 2010

Monday 8th March
Queen’s Tower Rooms, South Kensington Campus

Residential Land have hundred’s of flats to rent in London and are the ideal choice for students looking for quallity central accomodation in the capital.

Roland House Apartments, located in South Kensington is minutes away from the Imperial College South Kensington Campus. The fully equiped flats are spacious and reasonably priced, with free broadband and free on-site residents gym, sauna and spa.

Students studying at Imperial College can benefit from special rates when renting with Residential Land. Rent directly from us and pay no agency fees. For more details about any of our properties, email or click here

Residential Land Rent, Sell and Buy Prime Central London. We are a responsible Landlord with the widest selection of rental properties in the Capital, all managed in-house by a dedicated team.

We acquire London properties to build our extensive portfolio and offer a number of investment properties for sale.

Top Tips for Renting in London

Residential Land, Prime Central London’s largest private landlord, put together some useful tips for people looking to Rent in London that were published on…

Make sure your deposit is protected
Tenancy deposit law was introduced on 6 April 2007 and provides protection for tenants by preventing landlords and letting agents from unfairly withholding a deposit. The scheme protects all Assured Shorthold Tenancies in England and Wales. Ensuring your deposit is protected allows you extra comfort for when your tenancy ends and you want to move on. As long as rent and services are paid up to date and the property is in the same condition as when you moved in (allowing for wear and tear) your landlord is obliged to give back your deposit, this is usually within ten working days of moving out.

Read the rest of this article »

Property sales rise in October

Residential Land property news

In November, BBC News reported that Property sales rose by 8% in October, according to the latest figures from HM Revenue & Customs (HMRC).

At 65,000, sales were 5,000 higher than in September, the first monthly increase since May.

However, they were still 50% down on a year ago, with banks and building societies reluctant to lend because of the credit crunch.

Some experts are worried that sales may start falling again because the economy is heading for recession.

Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors (Rics) said the figures were evidence that the dramatic slump in sales over the past year had stabilised recently.

“This improvement is broadly consistent with CML mortgage lending data and the Rics new buyer enquiries,” he said.

“Falling house prices and lower interest rates are encouraging some buyers back into the market but the big risk is the worsening economic climate and the knock-on impact on employment,” he added.

Mortgage tap

The recent peak in sales was in December 2006 when 154,000 homes were sold.

But transactions started to collapse in September last year, as lenders turned off the mortgage tap in response to the growing credit crunch, in turn triggering the most rapid fall in UK house prices since the early 1930s.

Banks and building societies found that the market for borrowing money from other financial institutions closed down, and the mortgage market imploded.

This was highlighted by the near-collapse of the Northern Rock bank and the more recent government rescue of the Bradford & Bingley and HBOS.

With the economy now widely believed to be heading for recession there is the obvious possibility that would-be buyers will be deterred further, either by a lack of confidence or by losing their own jobs.

The article concluded that as a result, many commentators believe that prices will continue falling well into next year.