The ‘Bayswater Revival’ and Queensway Regeneration Projects

London's Bayswater area is experiencing a dynamic transformation, positioning itself as one of the city’s most promising residential and commercial districts. Central to this revitalization is the £3 billion Queensway Regeneration project, infusing the area with new developments, retail, eateries and facilities, enhancing its appeal to both investors and residents alike.

Queensway: The Heart of Transformation

Queensway, long known for its eclectic mix of shops and eateries, is undergoing a significant makeover. At the forefront of this transformation is the redevelopment of the historic Whiteley’s department store.

One of London’s pioneering department stores, supplying ‘everything from a pin to an elephant’ attracted a Royalty Warrant and celebrity clientele. The Grade II listed building, allegedly earmarked by Hitler as the site of his London headquarters were Nazi Germany to successfully invade, even sported a roof-top golf course.

Now, The Whiteley London has been reimagined as a luxurious mixed-use development, featuring London’s first Six Senses Hotel and spa, 139 residences and 19 new shops.

Designed by award-winning architects Foster + Partners and like their Battersea Power Station project upriver in Nine Elms, high-end brands will anchor this new retail hub, bringing a fresh, upscale vibe to the area.

One cannot shop and spa without sustenance and The Park by Jeremy King (The Ivy, Le Caprice) is leading the introduction of more exciting dining destinations, whilst a new flagship store for premium neighbourhood delicatessen, Melrose and Morgan will also feature supper clubs, masterclasses and product launches.

Residential Developments: A New Era of Luxury Living

This Bayswater renaissance is attracting significant attention from developers, resulting in a wave of luxury residential projects. Park Modern adds to the portfolio of high-end living with its contemporary design and exceptional amenities, and other developments like Leinster House by Wendover Partners are playing a key role in elevating the neighbourhood to its formerly lofty heights.

Additionally, Bourne Capital’s retail, residential and leisure projects on the southern end of Queensway will provide a link into the new entrance gate into Kensington Gardens at Hyde Park.

Bayswater’s Bright Future

As Queensway’s transformation continues, Bayswater is poised to become a prime destination for those seeking both investment opportunities and a vibrant lifestyle. The area's proximity to Hyde Park, along with the significant improvements to local infrastructure and amenities, positions it as an ideal location for luxury real estate.

The area’s ongoing regeneration is highlighted the untapped potential available for those looking to secure a prestigious London address. Bayswater is now offering not only the allure of a historically rich area but also the benefits of modern luxury.

Back to School, Back to Basics – Part 2

In Part 1 of Back to School, Back to Basics we covered the pre-tenancy certifications and legalities of rental properties. Now in Part 2, we’re moving forward in the process and once a tenant has been secured.

Other Things to Consider…

• Apart from a robust tenancy agreement applicable to the type of rental you have agreed and an inventory check-in report, copies of the EPC, EICR and GSC will need to be issued to any tenant before the tenant move in along with the government’s How to Rent Guide. If not, this may affect your ability to apply for an eviction order if necessary in future.

• Landlords are also required to protect a tenant’s security deposit in a government-approved scheme, such as the DPS and also check your tenant’s right to rent in the UK. Documents need to be checked in-person or online via the government’s verification service.

• If you would like the reassurance of a rent guarantee or legal protection cover policy in case your tenants don’t pay rent or need to be evicted, your tenant will need to have passed referencing with a third party referencing company.

•  If you’re normally resident overseas or the property is owned by an overseas company, you should always confirm your tax requirements with HMRC. They have specific guidelines for non-resident landlords.

Finally, international student tenants travelling to the UK for their course often have to rent properties on the basis of photos and video viewings without having actually stepped foot in the front door – or you having met them in-person. It can be worthwhile to have a video chat to assess their suitability for your property and also make sure that the tenancy agreement reflects that the property has been taken ‘sight unseen’ to avoid being let down at the last minute.

If you would prefer to use the services of a qualified and experienced agency, book a quick call with us to discuss your rental property. We’d be delighted to help.

Back to School, Back to Basics – Part 1

It’s September and that has meant back to school for not only millions of children across the UK, but all the ‘big kids’ too - the students who are back at university to take up their places on undergrad and postgraduate courses.

It’s the first year of a true ‘back to normal’ end-of-summer/start of the school year cycle since Covid and demand has been soaring. We’ve even let a few properties in the final stages of renovation such that they’ll be occupied from Day 1!

With so many new move-ins happening, it’s a great time to go back over the basics and ask: What exactly do you need to do in order to let your property?

Pre-Rental Certifications & Legalities Required On Move-In

It’s a given that you’ll have made sure your rental property is fit for habitation and is maintained in good condition, but do you have the correction certifications in place?

To let a rental property, you need to make sure you have at least valid energy performance, electrical installation and gas safety certifications in place:

• Energy Performance Certificate (EPC): These have been around for 15+ years since Home Information Packs and the regulations in 2007. You need one to market your property! Certificates remain valid for 10 years and the minimum rating is currently E. Many have been done and many have since expired! In any case, you can check for your EPC on the government’s register.

• Electrical Installation Condition Report (EICR): Valid for 5 years, these have been a legal requirement since April last year and are needed before a tenant moves into a rental property. Watch out, the initial inspection may uncover electrical faults that require further investigation or remedial works. Read more details here.

• Gas Safety Certification (GSC): Still in force and the longest standing certificate requirement – nearly 25 years for good reason. Conducted annually by a Gas Safe registered engineer (formerly CORGI), GSCs or CP12s are also a legal requirement if there is one or more gas appliance in the property.

You’ll also need to ensure smoke alarms & carbon monoxide detectors are in place and working and can read our recent post for more information on the recent changes to regulations.

If the rental property is a flat in a purpose-built building, there are additional fire safety regulations to consider and the most up-to-date information is always available on www.gov.uk.

You may also want to get a test for Legionnaires Disease and whilst PAT testing appliances isn’t legally required for private rentals, if a tenant is placed by a local housing association scheme, they may request this and both are good practice. 

Finally, always make sure to check if your rental property falls inside of a mandatory licensing area. These vary between boroughs in London, with differing costs and application processes.

Coming up next week - Back to Basics Part 2 with some other things to consider for tenants moving in… and if you would like to discuss any aspect of preparing your property for rental, book a quick call with us.

Smoke and Carbon Monoxide Alarms in Rental Properties

Fire Safety Regulation Updates

From 1st October 2022, the government’s newest round of fire safety legislation for rental properties comes into effect. With updates to the current laws having been in the works for some time, the updated regulations contain some subtle but significant changes for landlords with properties in the private rented sector.

The full legislation is available on the government’s website, though the guidance issued by the Department for Levelling Up, Housing and Communities covers the most common questions and situations.

The new regulations mean: 

• all landlords must ensure a carbon monoxide alarm is provided in any room used as living accommodation which contains a fixed combustion appliance (excluding gas cookers). 

• all landlords will be legally obligated to ensure smoke alarms and carbon monoxide alarms are repaired or replaced once they are informed and the alarms are found to be faulty. 

There is no transitional period after 1st October 2022 and any landlord found to be in breach could be fined up to £5,000.

If you have questions about what the new regulations mean for your rental property, feel free to book a quick call with us.

What Is a Search Agent?

Simply put, a search agent looks for a property on your behalf. If you are looking to move – be it buying or renting – the search agent can do all the legwork for you. That’s finding suitable properties, arranging viewings and brokering the negotiations on your behalf saving you heaps of time and energy. If you really trust them, they can even attend viewings on your behalf. Maplewood often takes on this responsibility and reports back with videos or video calls, saving you further time travelling to multiple appointments.

In the UK, this process is less familiar than elsewhere in the world. In North American sales transactions, for example, both vendor and buyer are usually represented by a qualified professional (real estate) agent who acts in their interest. This isn’t the case for rental transactions, but it does mean that Americans and Canadians fully understand the principle of someone working on their behalf in this way.

In the London rental market, it is not uncommon to encounter relocation agents (or ‘relo agents’ in agency lingo). They are normally retained and paid for by a company to look after relocations for members of staff and their families (often internationally). They have excellent little black books full of London agency contacts and can work proactively to get access to properties that aren’t yet on the market. This role is common particularly for those looking for a property in Prime Central London.

If the idea of having someone take care of all of the hassle of looking for a property sounds ridiculously appealing, you may be wondering why search agents aren’t more common in the UK. The reason for this comes down to – perhaps unsurprisingly – money.

In Prime Central London, a search agent can undertake their work on the basis that they are paid a portion of the fee earned by the seller’s/landlord’s agent (i.e. the agent listing the property). The prices of Central London properties produce margins that allow for this and with both agents retaining a healthy fee. Outside of Central London (even just south of the river) the commission on offer isn’t regarded as sufficient to be split between two agencies. So a search agent must pass their fee directly to their client (the buyer/tenant) instead.

In an environment where much emphasis has been put on eliminating fees for tenants, lots of those people looking to relocate would rather take on the search themselves than pay a fee for someone else to find them a place to live, despite the valuable time-saving, negotiating experience and contacts the search agent may have.

The tide is changing however and – particularly in a hot rental market – it can be a difficult and logistical nightmare to find a property if you’re a busy professional. Hiring Maplewood to conduct a four-week rental property search for you starts at £1500+VAT. We jointly determine your search parameters, source potential properties, arrange and attend viewings for/with you and advise on the negotiations right through to your move-in day. Imagine that: a quick, low-stress and proven solution to finding your next rental home.

You can find more information about our property search service here or book a call with us to have a chat about your dream home.