London Residential Development & Investment Strutt & Parker
Strutt & Parker is a private Advising on independent partnership founded in 1885 to provide management services. The business has since grown to become one of the largest £7bn independent real estate partnerships of residential projects in the UK. in Central London
Property Week’s UK Residential Sales Agent of the Year 2016
£40bn of commercial investment transactions in the last 10 years
Completed the largest ever commercial investment transaction in Europe
3 Global Reach Global Reach
Global Reach
Since 2012, Strutt & Parker has carefully chosen partners to enhance our international presence and gain access to markets that offer tangible opportunities to our clients.
109 Countries
UK London 152,000 1,000 Agents staff across 60 offices in England 5,362 and Scotland Offices
673 11 Affiliate Members prime London residential agency offices
4 5 LRD&I LRD&I
London Residential Development & Investment
The London Residential Development & Investment team at Strutt & Parker provide our clients with a comprehensive service including; land acquisition and disposal, development consultancy, new homes sales and project marketing in the UK and Internationally. Formed in 2008, the team has experience within the London Residential Development sector dating back to 1998. Collectively we have acted as advisors and agents for some of the most exciting developments in London.
6 7 LRD&I LRD&I
New Development Specialist homes land services
Agency Agency Planning Development lettings Research • Unit sales • International advisory • General practice town • Identifying investment property • Bespoke data and • International sales • Land disposal & acquisition planning advice • Carrying out the snagging/handover forecasts and exhibitions • Portfolio assembly • Planning feasibility • Providing furnishing options • Behavioural analysis studies and site of buyers and sellers • Investment sales • Strategic land assembly • Finding the best possible tenants appraisals • Futures research • Portfolio assembly • Site conditioning for sale • Managing the property • Pre-application advice programme • Taking care of the eventual resale • Planning applications • London residential Consultancy Consultancy and appeals quarterly reports • Development plan • Sales & marketing strategies • Alternative use feasibility representations • Unit mix analysis • Project team assembly • Expert witness • Specification advice • Site valuation and feasibility • Market reports • Planning advice • Detailed pricing analysis • Value enhancement • Project team assembly
8 9 Our Services Our Services
New Homes Agency & Advisory
Our London new homes sales team is at the forefront of residential development, helping to deliver and sell some of the most prestigious new homes in London. Our team has unrivalled experience In development consultancy and project marketing of London residential property both domestically and internationally. We are the sole UK affiliate of Christie’s International Real Estate, working with over 5,362 offices across 109 countries. This affiliation connects our clients and their developments to elite buyers and properties around the world.
Advising on £7bn of projects in Central London
£2bn of sales in 2 years
Property Week’s UK Residential Sales Agent of the Year 2016
10 11 Our Services Our Services
Development Land Agency & Consultancy
Our London Residential Development team specialises in providing expert advice to developers, landowners, funds and local authorities to capitalise on development opportunities within both prime central and greater London locations. We act on development opportunities with and without planning permission and will advise on all stages of the planning and sales process, working closely with other members of the project team including architects, planning and cost consultants. Our services extend to undertaking valuations and detailed development appraisals, technical due diligence, disposal strategies and implementing marketing campaigns. We respect each client’s preference and can undertake various marketing strategies from discreet one-to-one approaches to full open marketing campaigns.
Over £1.5bn of land sold or acquired within the M25
39% of deals completed off market
12 13 Our Portfolio Our Portfolio Our Portfolio
One Nine Elms | Nine Elms, SW8
New homes sales agent and advisor Client: Dalian Wanda
16 17 Our Portfolio Our Portfolio
Burlington Gate | Mayfair, W1
Land disposal, new homes sales agent and advisor Client: Standard Life / Native Land 20 Jermyn Street | St James's, SW1
New homes sales agent and advisor Client: The Crown Estate
St James's House | St James's, SW1
Land acquistion, new homes sales agent and advisor Client: Caraeno / Carlyle Group
18 19 Our Portfolio Our Portfolio
57 Whitehall | Westminster, SW1
Development advisor Client: Westminster Development Services Ltd
20 21 Our Portfolio Our Portfolio
The Buckingham | Victoria, SW1
New homes sales agent and adviser Client: Brockton / Clearbell Ten Trinity Square | City of London, EC3
New homes sales agent and advisor Client: Reignwood Group
Hempel Collection | Bayswater, W2 Bolton Studios | Chelsea, SW10
New homes sales agent and advisor Land acquisition, new homes sales agent and advisor Client: Amazon Property & British Land Client: Realstar & Grantham
22 23 Our Portfolio Our Portfolio
The Hansom Building | Great Minster House | Kings Gate | Victoria, SW1 Westminster, SW1 Victoria, SW1
New homes sales agent and advisor Land disposal, new homes sales agent and advisor New homes sales agent Client: BMOR Client: PFA Pension Fund / Barratt Homes and advisor Client: Land Securities
Park Grove | Acton, W3
Land disposal Client: Southern Grove St Dunstans House | Midtown, WC2
Land acqusition Client: Taylor Wimpey
24 25 Our Portfolio Our Portfolio
Mayfair Park Residences | Mayfair, W1
New homes sales agent and advisor Client: Clivedale
The Landau | Fulham, SW6 West Village | Notting Hill, W11
New homes sales agent and advisor Land acquisition, new homes sales agent and advisor Client: Mount Anvil & Affinity Sutton Client: Frogmore & Great Marlborough Estates
Millais House | Bulstrode Street | The Ladbroke Grove | Ladbroke Grove, W10
South Kensington, SW7 Marylebone, W1B New homes sales agent and advisor Land disposal Land disposal Client: Taylor Wimpey Client: The Art Fund Client: Private Client
26 27 Our Portfolio Our Portfolio
One Kensington Gardens | Kensington, W8
New homes sales agent and advisor Client: De Vere Estates Ltd
28 29 Our Portfolio Our Portfolio
3 St James's Square | St James's, SW1 6 Castle Lane | Victoria, SW1
Land disposal Land disposal, new homes sales agent and advisor Client: Aberdeen Asset Management Client: Land Securities / L&H DM Ltd
5 St James's Square | Strand 226–228 | Midtown, WC2
St James's, SW1 Land disposal Land disposal Client: Enstar Capital Client: Rio Tinto
Henrietta Street | Covent Garden, WC2
Land disposal Client: Primerica
30 31 Our Portfolio Our Portfolio
Pembridge Gardens | Bayswater, W2
Land disposal Client: Boubyan Bank
Aston House | Gerrards Cross
Land disposal Client: Aviva Investors
Half Moon Street | Mayfair, W1 13 & 14 Vicarage Gate | Kensington, W8 The Limes | Barnes, SW13 Orford Studios | Chelsea, SW10
Land disposal New homes sales agent and advisor Land disposal Land disposal, new homes agent and adviser Client: Private Client Client: Northacre & Como Holdings Client: Marston Properties Client: Private Client
32 33 Our Portfolio Our Portfolio
Television Centre | Shepherds Bush, W12
New homes sales agent and advisor Client: Stanhope, Mitsui & AIMCo 34 35 Our Portfolio Our Portfolio
110 Broadway | Ealing, W13 Strand East | Stratford, E15
Land acquisition New homes advisor Client: Southern Grove Client: Vastint (Inter-IKEA)
Mulberry Business Park | Dover House | Southwark, SE1 Kidderpore Avenue | Hampstead, NW3 Canada Water, SE16 Land disposal Land disposal Land acquistion Client: Boubyan Bank Client: Kings College London / Mount Anvil Client: Kings College London
36 37 Our Portfolio Our Portfolio
Grayton House | Fulham, SW6 Crossland Place | Clapham, SW11 Black Lion House | Whitechapel, E1
Land disposal Land disposal Land disposal Client: Valad Europe Client: Private Client Client: CIT Group
North Wharf Gardens | Paddington, W2
New home sales agent and adviser Client: Meritas Real Estate
Walton Court | Walton-on-Thames, KT12
Land disposal Client: Green Property
38 39 Our Portfolio Our Portfolio
Fulham Wharf | Fulham, SW6 Clay Street | Marylebone, W1 18 - 20 Craven Hill Gardens | Bayswater, W2
Land acqusition Land acquistion Land disposal Client: Barratt London Client: Great Marlborough Estates Client: Boubyan Bank
Hammersmith Embankment | Hammersmith, W6
Land disposal Client: Goodman Stompond Lane | Walton, KT12 Marsham House | Gerrards Cross Land disposal Land disposal Client: Elmbridge Borough Council Client: Angle Property
40 41 Planning Planning
Planning
Strutt & Parker’s London Planning team is one of the fastest growing planning consultancies in the capital. In a complex and ever-changing political landscape our planning professionals unlock development opportunities for our wide range of residential clients. The Planning team works alongside landowners, institutional investors and the development industry in general, to unlock the planning potential of land and buildings throughout London. The team has a proven track record in securing viable planning consents for residential and mixed use schemes on often complex sites. We excel at providing commercially driven client focused planning consultancy advice that is informed by powerful local insight. We employ almost 50 town planners focusing on London and a further network of regional offices.
42 43 Specialist Services Specialist Services
Development Lettings Research
Strutt & Parker has eight Prime A different approach to harnessing Central London letting offices which insight. Research at Strutt & Parker are all ARLA licensed to ensure is about understanding the markets, exceptional levels of professionalism knowing what the trends are, and and compliance. Our specialist identifying and monitoring those Development Lettings team is based drivers that will impact property over in Head Office and works closely the short, medium and longer term. VOLUME III
with our New Homes Sales team to HOUSING FUTURES A flexible team, we are focused on the vital provide clients with a continuity of insight necessary to assist our clients across HOUSING service. We are proud of the high all of our market areas, from commercial, to FUTURES volume of repeat business we handle farming & land management, development, Key trends shaping and the large number of landlords the residential market consultancy and residential. We are different who come to us through personal from the traditional property research model recommendation. in two key ways. The first is that instead of a Our property management service is renowned group comprised of specialists, we have taken for providing a hands-on service, tailored to our an alternative and holistic approach with each specific clients’ needs. The team can prepare of us working across all sectors allowing us to the property for the market and then manage spot convergence and divergence between it during and in-between tenancies. Making property asset types. Secondly, we partner with regular property visits, we take a pro-active best in class specialist research groups to ensure approach, managing tenant expectations and that we are always open to new ideas, learning removing the stress from letting your property. new tools and delivering the excellence our We offer our clients one dedicated point of clients deserve. 1 contact within our lettings department. We will find out what you want to achieve from the tenancy and provide you with valuable, experience-led advice.
Research - Market View
UK economy continues to perform
Prolonged periods of low commodity prices and slowing growth in emerging The IMF has downgraded economies have raised concerns of a global economic slowdown; however the global growth forecasts by outlook for the UK economy remains positive. The national economy is still forecast 0.2% to 3.2% for 2016. to grow at above 2% per annum over the next five years, and at 74.1% employment is at its highest level since records began. Wages and inflation have increased. On the downside, the UK’s trade deficit and public sector debt continue to rise and are the most concerning aspects of the economy. The Bank of England has maintained interest rates at 0.5% and the majority of forecasters are now not predicting a rise until early 2017.
The UK is facing a defining few months with the pending London Mayoral Election The Bank of England has and European Union (EU) Referendum. The looming possibility of a ‘Brexit’ is maintained interest rates at increasing uncertainty in the national economy and consequently, UK and PCL 0.5% and the majority of housing markets. The consequence of uncertainty is that buyers and sellers are forecasters are now not more likely to adopt a ‘wait and see’ approach. This means low transaction levels in predicting a rise until early PCL are expected to persist and we expect Q2 to be particularly sluggish. 2017. Performance in the second half of the year will depend to a significant degree upon the outcome of the referendum.
National property market
The Nationwide House Price Index (HPI) saw quarterly growth of 1.6% in the first quarter of 2016. The performance of the domestic economy has resulted in every region, with the exception of the North, recording positive price growth since the Nationwide House Price turn of the year. In contrast to recent trends, price growth in the South East, South Index saw annual growth West, East Anglia and West Midlands all outpaced London. As of Q1 2016, of 5.3% for the year average UK house prices were 5.3% higher than a year earlier. ending March 2016.
Figure 1. UK house price growth vs Prime Central London (PCL) 40.0%
30.0%
20.0%
10.0%
0.0%
-10.0%
-20.0% Nominal Year on Year Growth Year on Year Nominal
-30.0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Prime Central London Nationwide House Price Index Source: Nationwide House Price Index, Volterra
44 45
Contact
Head Office 13 Hill Street, London W1J 5LQ Tel: +44(0)20 7629 3456 Fax: +44 (0)20 7629 0387
CIty Office 1 Angel Court, London, EC2R 7HJ Tel: +44(0)20 7600 3456 Fax: +44 (0)20 7629 3330
New Homes Direct Line Tel: +44(0)20 7318 4677
struttandparker.com/residential/london-new-homes struttandparker.com
46