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Strettons News

Market trends, transactions and news stories from across the business.

Updated Guidance Residential Landlords Right to Rent Checks

Updated Guidance - Right to Rent Checks

CURRENT RIGHT TO RENT CHECK PROCESS


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For Us, It's Business As Usual

 


Residential Update Eviction Notices

Residential Eviction Update for Landlords

For the most part, landlords and managing agents now must serve 6 months' notice before gaining possession of a residential property.


Auction Results October 2020

Strettons Raises £11.4 Million at October Sale

Strettons raised £11.4 million at its October sale, selling 86% of the properties offered on the day.


Strettons October Auction Catalogue

Strettons 29 October Property Auction Catalogue

Lockdown has thrown us all many challenges, and it has placed an imposition on our regular daily lives that is rarely seen outside of wartime.


Strettons Property Auction 16.5 Million Raised

Strettons Achieves Best Auction Result Since 2008

£16.5m raised with an 84% success rate at our September property sale 


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Extension of Stay to Existing and New Possession

On Friday 21 August, it was announced that the ban on possession proceedings has been extended to 20 September 2020.


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The Road to Debt Recovery for Lenders and Borrowers

Lenders ought to be aware of and start thinking about their potential steps to recover a loan.


Strettons Use Classes Order Changse

Use Classes Order Changes

In response to trends in the commercial market and the high street, official changes were made to Use Class legislation on 21 July, which will come into effect on 1...


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The Most Significant Overhaul of the Planning System Since WWII

In a speech on 30 June 2020, PM Boris Johnson set out the Government’s commitment to fuel economic recovery by removing constraints on the planning system and encouraging a national...


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Announcing a New Joint Venture with SiteSales

New venture to provide complete new build development consultancy, marketing and sales service for developers, housing associations and local authorities in London and the Home Counties.


Supported Living Investments

Webinar: Introduction to Supported Living Investments

Supported Living is a fast emerging property investment asset class. We joined together with EPC Property Group to host a webinar looking at Supported Living as a potential a hedge...


Strettons July Property Auction

Strettons Raises £12.1 Million at July Property Auction

Our highest total of 2020, selling 93% of the properties on offer. Strettons has continued its strong auction performance during lockdown at its July sale. 


Stamp Duty Holiday

Summer Economic Update - Stamp Duty Holiday

As was widely expected, Chancellor Rishi Sunak announced changes to stamp duty in Wednesday’s summer economic update, to help cut the costs of anyone buying a home in addition to...


Uplands Business Park Creative College

Strettons Agree New Lease for London’s Largest Creative College

London’s largest creative college has agreed a new lease for its campus at Uplands House in Walthamstow in a deal which will see the college commit its future to the...


Alito House Blog

Leyton Warehouse Let to Ocado Sold for £10.9 Million

Strettons’ Industrial and Logistics Department has sold Alito House in Leyton to LondonMetric Property Plc for £10.9 million on behalf of a private client.


Landlord property management

A reminder of the management and occupiers’ liability of empty properties

Throughout the COVID-19 pandemic, many properties have become partially or fully unoccupied, which presents a number of challenges for landlords, making it essential to ensure that assets are protected during this time.


New Code of Practice for commercial property

New Code of Practice for commercial property relationships during the COVID-19 pandemic

On 19th June 2020, the government introduced a new code of practice designed to provide clarity and reassurance to help support landlords and tenants affected by the crisis with the...


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27 May Property Auction Results

Overall, the sale raised in excess of £8.33m with a 92% success rate, our best results so far this year.


Valuation Advisory Services for Residential and Commercial Property COVID

Valuation Services & Planning for Next Steps

In uncertain times, property owners need professional advice more than ever to ensure the value of their investment is maintained, and where possible, enhanced.


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Development Consultancy & Affordable Housing Inspection Protocols

In uncertain times, property owners need professional advice more than ever to ensure the value of their investment is maintained, and where possible, enhanced.


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Development Consultancy: Post-Lockdown & the New Build Residential Market

Two frequent questions we have had since lockdown started are, "Are you able to help, and how is the market?"


How to reopen your building after lockdown

How to reopen your building after lockdown - brief guide for Landlords

Managing the process of reopening a building is a new experience for many, including landlords and occupiers. So we have prepared a short guide to help consider what needs to be done before welcoming tenants or staff back to their buildings and workplaces.


London Retail Property Trends

London Retail Agency Trends

Our retail agents have summarised their most prominent findings as London has entered lockdown. Here are some of the top takeaways from the last few weeks, and we will keep you updated as things begin to shift further and what it is translating to for retail properties currently on the market.


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Receivership: Open Market Sale Not Required?

In brief, a Judge was found able to order a sale of trust land at a price that he fixed, without testing the price by exposure to the market.


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Commercial Agency - Open for Viewings

You will have seen in the press that the Government has announced estate agents are allowed back to work with immediate effect.


London Office Agency Trends COVID 19

London Office Agency Lockdown Trends

A few trends have emerged over the last seven weeks, and our office agency team summarise below some of the key trends from the enquiries and feedback we have received...


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Commercial Agency Activity & Post-Lockdown Planning

As with the rush into lockdown during late March, we are aware that returning to the workplace and conducting some aspects of our business will have its challenges but we are well placed to tackle this, looking forward to ‘being back’ and to continuing to work with you.


Industrial Property Trends COVID2

Industrial & Logistics Agency Trends

A few trends have emerged over the last seven weeks and our industrial agents have summarised their most prominent findings since the UK has entered lockdown.


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7th April Property Auction Results

As a result of the ongoing COVID-19 pandemic, the auction took place remotely, Strettons first-ever auction to be solely live-streamed on the internet with online, proxy and telephone bids taking place.


Property receivership tips for lenders

Steps Lenders Can Take During COVID-19

The COVID-19 pandemic has led to a testing time for the property and lending industry and one of Strettons Registered Property Receivers, Paul Joseph has set out a few thoughts.


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Coronavirus (COVID-19) Service Continuity Plans

In response to recent events, we want to let our clients and community know that we have business continuity measures in place to ensure our services are uninterrupted as our...


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Seeking possession against a borrower - Strettons' receivership Spring 2020 top tip

As receivers, we regularly work with solicitors and other property professionals. James Teagle, a partner at Bevan Brittan solicitors, offers an insight into the process of receivers seeking possession of...


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£2.2m Manor House star of February auction

A Grade II listed Manor House was the star of the sale at our 20th February national property auction.


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Property fire safety

The recently published Grenfell Tower Inquiry Phase 1 Report has raised many issues as to how fire and health & safety is managed in buildings.


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A guide to Overage Provisions

The concept of overage payments is something we are becoming increasingly involved with to help protect our clients, whether it be over the short term or long-term future.


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Commercial to residential: the VAT minefield

Acquiring commercial sites to convert to residential use is proving an increasingly popular strategy among property developers.


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Important case relating to a landlords ability to withold consent

In the recent case of Sequent Nominees Ltd v Hautford Ltd (2019), it centred on the permitted use of a property and whether the landlord could reasonably refuse the tenant’s...


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East London Insights Q4 2019 - Planning & Development News

 


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Election day success for Strettons

The General Election was not the only notable event happening on Thursday last week. Our December auction put a tick in the box of many an investor with a busy...


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The Importance Of Agile Property Management In A Challenging Sector

The UK restaurant sector is undoubtedly facing a challenging year, with some of the nation’s most high-profile chains facing closure or significantly reducing the number of restaurants in their portfolio.


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Caution in the auction room could be costing investors

Investors that wait to pick off unsold lots after auctions could often get a better deal in the ballroom.


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Tips from the receiver

The Strettons receivership team continues to grow and offers industry-leading receivership and insolvency advice, read our latest tip here.


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October Property Auction Results

A recent clock change to GMT seemed to bring in an early crowd to the start of the October sale with a busy room, although still some mixed bidding.


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Owners of unoccupied properties need to be aware

There has been continuous media coverage surrounding the lack of available housing and the need to build more houses, which has significantly increased pressure on local councils to find new homes. They are increasingly needing to be more creative in accommodating residents at affordable levels.

 


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Post Summer Property Auction Results

Our first sale after the summer break was a welcome return to the market with a 70% success and several post-sales in hand.


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Can you bear to repair?

So, you own a great commercial investment, let on full repairing terms to a blue-chip covenant. Great.


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Strettons advises Segro on Tottenham's largest land deal in a decade

SEGRO purchases eight acres of land on White Hart Lane, Tottenham, as it plans new 185,000 sq ft logistics development. 


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How charities can get the best deal

Over the past 30 years, Strettons have advised numerous charities how best to dispose of a variety of properties including schools, churches, synagogues, halls, houses, and land and whether it...


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July auction raises over £8m

There was strong demand for well-priced vacant residential lots with the first lot of the day, a house in Edmonton N9 guided at £250,000+, selling for £323,000 shortly followed by...


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Lessons for private investors: Spotting the signs of insolvency

As the current period of economic uncertainty continues, one thing has always been certain in business, some companies will survive, indeed thrive, and others will not.


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East London Insights Q2 2019 - Planning & Development News

The masterplan for the regeneration of Stratford Waterfront has won the backing of planners at the London Legacy Development Corporation (LLDC).


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New Managing Director for Strettons as Ben Tobin plans retirement

Robust succession planning from Strettons’ sees Simon Tilsiter promoted to take the helm at one of London’s oldest independent property advisers and auction houses.


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Strettons' staff join Team Mencap for Charity Run

The trainers have been dusted off as the Strettons' runners get in shape to participate in the Mencap Run Hyde Park on 15 June 2019.


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Understanding the Tenant Fees Act 2019

Following agreement by both Houses of Parliament on the text of the Tenant Fees Bill it received Royal Assent on 12 February. The Bill is now an Act of Parliament and known as the Tenant Fees Act 2019. The Tenant Fees Act outlines the Government’s approach to banning letting fees paid by tenants in the private rented sector and capping tenancy deposits. The ban on tenant fees comes into force on 1 June 2019.


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Hackney Half Marathon for The Wickers Charity

We are pleased to announce that Strettons' team of runners have completed the Hackney Half marathon and have managed to surpass our donation goal in aid of Hackney-based, The Wickers Charity.


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£10m raised at May Auction

Our sale on 21st May raised over £10m from a room where there was mixed bidding with strong demand for some lots and others just not quite reaching their reserve price.


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Importance of establishing a duty of care

A recent decision of the Technology and Construction Court has emphasised the challenges a purchaser faces establishing a duty of care in the absence of a contractual relationship with consultants engaged by the seller.


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The pitfalls of varying a lease

It is common for parties to vary the terms of an existing lease, particularly in times of economic uncertainty. This can include varying the extent of the demise or varying the rent.


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East London Insights Q1 2019 - Planning & Development News

Quarterly planning and development news from Newham, Tower Hamlets, Redbridge, Hackney & Waltham Forest.


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Busy room for Spring sale

Despite a busy room at our Spring auction on 25th March results were mixed, suspiciously reflecting the Parliamentary uncertainty around Brexit, which had been scheduled to take place just days...


CGT 6th April

New CGT on commercial property coming April 2019 - what overseas investors should know

After 6 April, commercial property disposals will be subject to Capital Gains Tax (CGT). If you're an overseas investor, read to learn how you may be able to reduce your...


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HMO licensing reform

The private rented sector (of which Houses in Multiple Occupation (HMOs) form part) has undergone significant growth in recent years and is now the second largest tenure in the UK. New regulations came into effect on 1 October 2018 and expand mandatory licensing requirements.


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Strettons' first property auction of 2019

On 6th February, Strettons Auctions hosted their first sale of 2019, raising over £7.5m with a 71% success rate and climbing. 


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Strettons will be in Cannes for MIPIM

Over the last 18 months, our agency and auction teams have transacted on over £245m of property. The majority of this is London focused, working across east and north London and the City fringes covering residential & mixed-use development land, commercial and residential investments, hotels, offices, industrial and retail & leisure work.


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East London Insights Q4 2018 - Planning & Development News

Quarterly planning and development news from Newham, Hackney, Redbridge & Tower Hamlets. 


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December property auction closes on a high

A busy room at Strettons' 10th December auction and some steady post-auction sales helped to end 2018 on a good note by raising over £13.5m.


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Residential block management wins customer service award

Strettons is pleased to share that our Residential Block Management team took home the Customer Service Award at News on the Block's Property Management Awards 2018.


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Brexit and property opportunities?

What opportunities might be out there for landlords and tenants after Brexit?


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The Property Show Hosted By London Greek Radio

Strettons’ Auction Director, Philip Waterfield, was a guest on London Greek Radio latest Property Show about Property Auctions and discusses how he got into Auctions, and shares his views all about the current state of Property Auctions. 


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New electronic communications code - What owners, investors & developers should know

The Digital Economy Act 2017 and the new Electronic Communications Code came into effect in December 2017 and replaced the much criticised Communications Act 2003, which was widely considered to be unfit for purpose. 


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Strettons complete purchase of specialist industrial agency

The move signals Strettons' intentions to further grow its thriving industrial department, led by Director, Neal Matthews.


EOS Scheme Part 2

Preparing for Phase 2 of the Energy Savings Opportunity Scheme (ESOS)

ESOS assessments are audits of the energy used by buildings, industrial processes and transport to identify cost-effective energy saving measures. This is a mandatory energy assessment scheme for organisations in the UK that meet the qualification criteria.


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Changes for service charges on commercial property

The fourth edition of the RICS code of practice for management and administration of service charges in commercial property is in its final stages before regulatory approval and is due to be issued as a professional statement. The changes come into effect in April 2019 to give adequate time for accounting procedural change.

 


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Autumnal changes in October property auction sale

A high level of pre-auction interest for the October sale, a busy room on the day and several post-event sales demonstrate that there are still plenty of buyers and sellers ready and willing to do business in the UK property market. The interest is there, but as shown in the results across the sector, this doesn't always translate into bidding in the saleroom, as witnessed with some of the lots in our sale.


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Cinema to return to Crystal Palace after 50-year absence

Strettons advises on deal which will see Everyman Cinema open on 25 Church Road.


National Housing Awards

National Housing Awards 2018

The National Housing Awards returned for its 12th year on Thursday 6th September to celebrate excellence in home ownership at the Grosvenor House Hotel. Strettons' Development Consultancy team attended the awards and we were pleased to have worked alongside a number of the award-winning schemes.


Commercial Property Deal

Commercial property deal: Grade II listed freehold in EC4

Strettons have completed the deal for The Old Rectory on Martin Lane, EC4 near Monument station. 


£1.1BN Vision For East Bank

£1.1bn vision for East Bank

Organisations including the BBC, University College London, The V&A and the Smithsonian Institute are to set up new sites in Newham as part of the redevelopment of East Bank.


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Duravit opens first dedicated UK showroom

Strettons advises on deal which sees luxury German bathroom brand secure prime Clerkenwell location.


Industrial Demand In London

East London Insights - Industrial demand in London

The Mayor of London's extensive Draft New London Plan signaled his determination to 'get London building'. The ambitious housing targets and the accompanying relaxation of planning constraints and density guidelines to enable home builders to meet expectations, coupled with The Mayor's clearly and expressed commitment to protect the green belt at all costs, have been the focus of media attention.


July 2018 Auction Results

July auction raises over £6.5m

Our sale on July 16th raised £6.5m with a further £2m now under offer, but the results mirrored the sentiment of uncertainty and caution running through the property market and the economy generally.


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Hackney Wick: Fish Island | Summer 2018 updates

Hackney Wick: Fish Island is a prime place to be and visit in east London. With its local culture and history as a borough, there is no shortage of places to go for the latest trending cuisine, craft beer or art events out of a re-purposed industrial space.


Shift In The Retail Climate

Shift in the retail climate a look at CVAs

Retailers and restaurateurs are reeling from the trading conditions that have battered the sector in recent times. Well-known brands including New Look, Mothercare, Byron Burger and more recently House of Fraser, have turned to CVAs (Company Voluntary Arrangements) in an attempt to manage spiralling costs.


Unopposed London Business Lease Renewals

Pilot scheme for unopposed London business lease renewals

Under the Landlord and Tenant Act 1954 (1954 Act), a tenant occupying premises for business purposes has a statutory right to renew their lease, unless it is excluded from the provisions of the 1954 Act, or the landlord successfully opposes the grant of a new lease under section 30 grounds (e.g. tenant’s failure to comply with repairing obligations, persistent delay in paying rent and landlord’s redevelopment).


Business Spotlight - LuggageHero

Business Spotlight - LuggageHero

LuggageHero is a platform that works in partnership with businesses to store luggage. Founded in Denmark in 2016, LuggageHero arrived in London in March 2017 followed by New York in December of the same year. Since then, each city has seen a growing number of sites.


Hackney Wick: Fish Island

HW: FI - Places to be and see

Hackney Wick: Fish Island is a prime place to be and visit in east London. With its local culture and history as a borough, there is no shortage of places to go for the latest trending cuisine, craft beer or art events out of a re-purposed industrial space.


Misrepresentation

Misrepresentation on the importance in providing reliable information

In the recent case First Tower Trustees Ltd and another v CDS (Superstores International) Ltd (2017) dealt with a case brought by a commercial tenant who claimed for misrepresentation.


May 2018 Auction Results

May auction raised over £8.6m

Our sale on the 22nd of May raised over £8.6m from a busy room where there was confident bidding on the majority of lots.


The Role Of The Expert

Unopposed Business Lease Renewals Pilot Scheme & The Role Of The Expert

The First Tier Tribunal’s pilot scheme for unopposed business lease renewals came into force on 1st January 2018 and is expected to last for one year. From this date, unopposed lease renewals issued in the County Court at Central London (the “CCCL”) will be transferred to the First Tier Tribunal (Property Chamber) (the “FTT”).


New Plans For Industrial

New plans for industrial land in north & north east London

Sadiq Khan’s renewed emphasis on unlocking land for building includes redeveloping brownfield sites, promoting the use of small sites, increasing density and the development of new growth corridors alongside planned new infrastructure. This all confirms his determination to deliver the new homes London residents and businesses need, but also to work towards a vision of a greener London.


Charity Code

Cracking the charity code

The new Code replaces the Charity Governance Code 2010 and was developed following consultation with more than 200 charities.


Spring 2018 Auction Results

Strettons’ spring auction raised a healthy £8¼m.

Our Spring auction on the 27th showed mixed results but still raised a healthy £8¼m.


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Leasehold reform: Past, present & future

Over the last year, there have been some political advances on Leasehold properties which may potentially have significant implications going forward. Most notably, leaseholds on new build homes have been abolished.


Planning For Affordability

Planning for affordability

In December 2017, the Mayor of London, Sadiq Khan, published his Draft New London Plan, a comprehensive document designed to build a city fit for the future for all Londoners and is underpinned with the concept of 'Good Growth'.


February 2018 Auction Results

91% sold at February auction

Strettons’ first sale of 2018 produced a 91% success, raising £7.5m. 


EPC 2018

2018 Energy Performance Certificate (EPC) changes

2018 Energy Performance Certificate (EPC) changes


MIPIM 2018

We're going to MIPIM 2018

MIPIM is the world's leading property market is just around the corner, and Strettons’ Agency and Development Consultancy Teams are looking forward to another year.


A New Plan For London

A new plan for London

The plan seeks to help re-balance the London economy, minimising the economic performance gap between different towns and boroughs, and, as in previous plans, sets out measures to tackle the capital’s housing crisis which continues to see a significant shortfall in supply relative to the growing London population.


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Café Du Cycliste open first UK store

Strettons advises on deal which sees chic cycling brand secure premier Artillery Lane location.


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The role of build to rent in London’s housing market

In the December edition of the NxNE newsletter in partnership with Belgrave Communications, we discuss build to rent and its effect on the London Housing Market.


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Strettons announce outstanding success rate in APC qualification

We are delighted that since 2015, 13 out of 13 of our graduates have achieved a remarkable 100% success rate in the Assessment of Professional Competence (APC), the training scheme graduates need to complete on the job to qualify as a Chartered Surveyor.


Olympic Legacy

Olympic Legacy and Stratford’s Transformation

Many areas of London have undergone significant change over the last decade, and one golden example is Stratford. London made a prime candidate for the games due to its redevelopment potential and legacy the Olympics would leave. 


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Hackney Wick: Fish Island - Places to be & see

Hackney Wick: Fish Island is a prime place to be and visit in east London. With its local culture and history as a borough, there is no shortage of places to go for the latest trending cuisine, craft beer or art events out of a repurposed industrial space.


Industrial Space

Making the most of industrial space demand

The Strettons industrial team has worked with clients to help them respond to the shift for space outside of the M25 and protect their investments through a creative approach to disposing of larger premises.


Tips to pass the APC

Top tips for passing the RICS APC

This article was prepared by three of our most recent Chartered Surveyors, who passed their APC in May. Strettons' APC success rate remains at 100% over the last few years, with a comprehensive in-house scheme and support from our own APC assessors. 


Autumn 2017 Auction Results

£12.5M raised at strong Autumn auction

Strettons’ October auction showed a healthy buyer interest, especially for properties within the southeast, raising over £12.5m on a 74% success rate with post-auction sales set to increase this.


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Hackney Wick: Fish Island - Issue 1 Autumn 2017

Hackney Wick: Fish Island, east London's newest hotspot is full of changes and developments. Read our new series to learn more. 


Tottenham Hale

Tottenham Hale: Opportunities, upcoming schemes & property demand

The ongoing development and regeneration work taking place in and around Tottenham is set to transform the area. With a supportive local council and more than £1 billion of public and private backing being invested into the borough, the area is set to benefit from 10,000 new homes and 5,000 new jobs by 2025. 


Ground Rent Investments

Ground rent investments - following the maze

For many years, Strettons have been selling freehold ‘ground rent’ investments by auction, where all or both of the units in purpose-built blocks, converted houses or in purpose-built pairs of...


Affordable Housing In London

Affordable housing in London

With property prices rising faster than wages, the issue of providing affordable homes in the capital is one that remains to be resolved. Lack of clarity on definitions, the range of options and the potential for schemes to be undermined by developers could weaken the good intentions of the London boroughs to meet their challenging targets of providing affordable homes in their areas.


Crossrail Impact

Crossrail impact on north and northeast London

The impact of the Crossrail tunnel is surfacing as we move closer to seeing trains on the Elizabeth Line. Europe’s largest construction project is scheduled to become fully operational in December 2019, and it will have a transformative effect on London, but especially on the northeast and east London.


Industrial Market Update

Industrial market update

Demand remains strong, with online retail and residential development fuels industrial space shortage in London. Occupier demand has remained steady for industrial property, particularly throughout outer London and the Home Counties...


Residential Demand in Redbridge

Residential demand in Redbridge

As we know, demand for housing across London remains high. Boroughs within our patch of north, northeast and east London are popular with those looking to get on the housing ladder or relocate to potentially larger properties further out from Central London, especially with the introduction of Crossrail making commuting more feasible.


March 2017 Auction Results

Buyers Spring to action at March sale

Our 27th March auction brought a good turnout of bidders with brisk competition to produce an 88% success rate. 


High Demand For Haringey

High Demand for Haringey

Strettons has been progressively active in North and Northeast London over several decades and, based on this experience and knowledge of the area; we have confidence in the future potential of this diverse, up and coming area.


Strettons Rebrand

Announcing our rebrand

Since Strettons' established in 1931, we’ve seen the markets we work in undergo significant change. As a London based business with national coverage, we are proud to have contributed to the success, continued transformation and regeneration of the areas we cover.


Deciding to sell at Auction

Deciding to sell at auction

Deciding whether to sell by public auction or private treaty is ultimately about what is right for the seller. Auction, however, does provide a higher degree of certainty which can be very appealing, especially if time is a factor in the sale as once the gavel falls a legal and binding contract is made


Purchasing Your Homes Freehold

Purchasing your home's freehold is easier than you think

Leasehold property owners often find themselves in dispute with their freeholders, over everything from where the cheapest insurance has been obtained to the quality of the management. One way to overcome these quibbles is to buy the freehold and take control, and doing so is easier than you might think.


Industrial Acquires 152k sq ft in Essex

Industrial acquires 152k sq ft in Essex

Strettons and Industrial Tool Supplies (ITS) are pleased to share the completion of a deal which will see ITS relocate to a 152,000 sq.ft unit at the Harlow Logistics Hub for use as its new head office and distribution centre.


Strettons 2016 Review

Strettons' 2016 year in review

Our 85th year has been an exciting year of consolidation and then rapid growth in all areas of the business.


December 2016 Auction Results

Auction sales stay on track in December

Strettons’ end of year sale on 13th December. Overall, we raised close to £7m, higher than our December 2015 auction.


Langdon Awards

Langdon Charity Employer of the Year

A charity which helps adults with learning disabilities to lead independent lives through securing employment has named Strettons as its 2016 Employer of the Year.