The past week was Shared Ownership week. To celebrate, Currell participated in the London Home Show last Saturday where the team raised awareness about the scheme and told people all about the shared ownership properties Currell offers. They let everyone know about how Shared Ownership works and how it can be a great option for first time buyers.

If you can’t afford your first property on the open market, the shared ownership scheme might be right for you. As long as your annual income is less than £90,000 (in London), you can purchase from 25% up to 75% of your home depending on your affordability. You then pay the subsidised rent to the housing association on the remaining share of the property that you do not own. Later you can purchase more shares, or if you choose to move on you can sell your share to another buyer looking to get onto the property ladder with the shared ownership scheme.

There are two Shared Ownership launches coming up. Don’t miss out!

Leyside will be launching on 29th September, offering a selection of two, three and four bedroom houses in Barking & Dagenham. Find out more and register your interest HERE 

Kingsbridge Terraces will be launching on 6th October, offering a selection of two and three bedroom maisonettes and three bedroom houses in Barking & Dagenham. Find out more and register your interest HERE 

Eligibility criteria apply. Please get in touch with our shared ownership team to find out about the scheme benefits and your eligibility. You can email the team at sharedownership@currell.com or call 0207 704 5618

Phase two of The M Collection at Langley Park in Maidstone, Kent, is now all sold. Reflecting back on the sale of this development has been positive, with some really good stats emerging.

Located on the outskirts of Maidstone, this former farmland site was acquired by Taylor Wimpey to provide 600 new homes, a school, local centre and nature reserve to Maidstone Borough.

Work on site commenced in February 2017 and concluded in June 2018 with the final sales completion taking place in July 2018.

Phase Two of the development comprised 20 properties in total; thirteen houses, six apartments and one coach house were available for purchase through shared ownership. All properties came with a minimum of one allocated parking space, and all houses benefitted from a private rear garden.

Currell were instrumental in selecting the specification for the shared ownership homes to ensure that it was on-trend and in-line with local buyer’s expectations.

Priority for the shared ownership homes was given to those currently living or working within the borough of Maidstone.

Key statistics

  • Target initial first tranche sales required: 35%
  • Actual initial first tranche sales achieved by Currell: 43%
  • All 20 units exchanged 3.15 weeks before property handover
  • Final unit of 20 completed 4.23 weeks after handover
  • Average age: 35

All buyers demonstrated a local connection to Maidstone, with some either living or working in the borough, or in many cases both.

“We are very pleased with our success at Langley Park,” says Crissi Russo, Head of Sales and Marketing Shared Ownership, “the amount of interest we received shows there is a huge demand for shared ownership properties in the Maidstone area. The third phase of Langley Park will be launched towards the end of the year, and we look forward to another highly successful scheme.”

Currell Commercial have successfully let two units at 61 Wallis Road E9, either side of our Hackney Wick Fish Island office.

The first is Cornerstone, an exciting new restaurant from Tom Brownformer Head Chef at Nathan Outlaw’s Michelin star restaurant in Knightsbridge. Serving mainly seafood plates, the seasonal menu is inspired by Tom’s Cornish roots. The decor is in keeping with Hackney Wick’s industrial style, with personal touches – such as a 5000-year-old oak table, salvaged from a river in Croatia.

Our staff at the Hackney Wick Fish Island office can’t wait to try their lunch menu – although they are booking up fast, so make sure you get your reservation in quick here.

The second unit is now home to Wick Boards. They build the world’s highest quality electric skateboards, from hand crafted decks to custom built motors. Their new street facing shop will provide the perfect opportunity for local residents (as well as people from all over the UK) to try before they buy their boards.

This morning, Currell had the pleasure of attending Bisnow’s Future of East London event, hosted at the new Goodluck Hope development in the heart of the Docklands.

In true east London fashion, the event was held in a warehouse, with guests walking through a mini rainforest to get to the sales and marketing suite. The event was very fascinating, despite the cold weather!

Model of City Island (far end) and Goodluck Hope (closest), sister developments by Ballymore

The event consisted of a breakfast networking session, followed by two panel discussions.

The first was about east London as a true melting pot of culture, education and business – and what this means for developers. Some interesting points were raised by all panelists, who agreed that east London is one of the fastest changing and most diverse areas of London. With this in mind, investment in education and creative industries are key, with a particular focus on prioritising opportunities for local residents, especially young people.

The first discussion panel

Tim Reeve, COO of the Victoria and Albert Museum, discussed the new V&A East which is set to open in the Olympic Park in 2023. With east London being home to some of the poorest boroughs in the country, he discussed how to reconnect with their audience, especially with young people through the education syllabus. V&A East will differ hugely to the original V&A in South Kensington – with a completely different tone, presenting art in a way that is useful and accessible to young local people that want to pursue a career in the creative industries.

Another interesting point was raised about tourism, and the influx of people coming to stay in the east as opposed to central London. Elli Jafari, Managing Director of The Curtain hotel in Shoreditch, said that she’s seen tremendous amounts of interest from all sectors of tourism – not just young people coming to London for leisure. Professionals travelling for business who are used to staying at five star hotels in the City are now now willing to venture to the outer edges, and say they loved staying in Shoreditch.

Walking through the City Island development

The second panel talk focused on work spaces in east London. Although east London offices have traditionally been synonymous with trendy startups, creatives, and tech companies, this is beginning to change. Georgina Philippou, COO of the Financial Conduct Authority, discussed her company’s move to their brand new office space in the Queen Elizabeth Olympic Park in Stratford. East London seems to be the most favourable place to build new places to work, as there’s much more land to build on, instead of trying to cram workers into pre-existing spaces.

The topic of wellness among working people was also discussed. Jacob Loftus, Founder & CEO at General Projects, talked about the emphasis developers are now placing on wellbeing for staff. Beyond the standard measures such as healthy food and fitness facilities, the focus is now shifting to accommodate mental health as well as physical. Outdoor spaces, relaxation/meditation areas, and a general attention to natural environments and comforts are coming to the forefront, as people are encouraged to take breaks from their screens and focus their minds elsewhere.

All in all, the event was a great insight into the different industries that are shaping east London’s revival, and we look forward to what’s to come in the future.

Currell Chartered Surveyors have been instructed on the sale of The Surrey Stadium in Whyteleafe, Surrey.

The stadium is currently home to Whyteleafe FC, who have a range of different football teams for all ages, including an U23 development squad. The club will not be affected by the sale.

The site also has potential for further development, subject to planning. Permission has already been granted for a new stand, incorporating new office space, a conference room, and medical centre. There is also potential for student accommodation subject to planning.

Simon Garfinkel, Director, said:

“This is a wonderful opportunity to purchase more than 5 acres of land within the M25 adjoining a built up area and with  good transport connections. We are expecting interest from sporting organisations as well as developers looking to land bank.”

Find out more and download a brochure here. 

Last week, five members of the Currell team flew to the south of France during the week of MIPIM 2018. MIPIM is the largest property expo in Europe, bringing together some 26,000 delegates from the real estate, city and political industries, including 5,400 investors, from over 100 countries. Held in sunny Cannes, the event is a fantastic opportunity for networking.

Currell met key stakeholders and landowners who are active in the east of London, especially around Barking where we are opening a new office later this year. They also met footballer Sol Campbell!

Chris Currell, Group Chairman, said:

‘MIPIM is about maintaining existing relationships, sharing market information, and catching up with friends in the industry. Meetings and events are essential, but the spontaneous introductions are priceless and this year was no exception. Another great few days and a fantastic endorsement of our expansion into east London.’

To find out more, get in touch with a member of our team here.

The property on Dereham Road, IG11

Acting for a Trustee in Bankruptcy, the Insolvency Department of Currell Chartered Surveyors has just sold a repossessed property in Barking for 26% over the guide price.

The four bedroom semi-detached property in Dereham Road was sold through auction at The Sheraton Grand Hotel in Piccadilly for £497,000 – a substantially larger amount than the £390,000 guide price.

The property is close to Barking town centre and represented a great opportunity for investment and modernisation.

Currell’s new Barking office, in the former police station, set to open this summer

The average property price in the borough of Barking and Dagenham is £296,892 – up 3.9% from 2016 (Land Reg, Dec 2017). Currell is opening a new office in Barking this summer, as part of the wider regeneration of the area.

There are plans for more than 35,000 new homes and 10,000 new jobs in the borough over the next 20 years.

We are delighted to have been appointed by Barking & Dagenham Reside Regeneration LLP (Reside) as sole agent for 140 shared ownership units across four developments in the London Borough of Barking & Dagenham.

This is the first instruction of shared ownership properties for Reside, a company set up by Barking & Dagenham Council to provide good quality affordable housing for local people. To date it has delivered 690 units for affordable rent within the borough, and has a further 700+ either under construction or in the pipeline. Its remit is being extended to shared ownership homes in order to improve housing choices across the borough.

The 140 homes, which are a mix of one, two and three bedroom units, will be delivered in 2018-19 and available for shared ownership purchase by local people who either live or work in the borough, have a family or work connection with the area, or who are in a priority group as identified by the GLA. Purchasers will also need to meet the Help to Buy: Share Ownership programme and scheme-specific financial criteria.

Martin Fillery, Currell Director and Head of Shared Ownership said:

‘It is fantastic for Currell to have won the first major instruction for shared ownership homes from Reside. Barking and Dagenham is a key growth area for us, and we are looking forward to our office opening next year. The borough is also a key growth area for London, with more than 50,000 new homes and 10,000 new jobs planned for the next 20 years’.

Last Thursday saw the VIP launch of our new Hackney Wick Fish Island office.

We had a fantastic time celebrating the new office with a lot of our clients, drinking craft beers from local Beavertown brewery and viewing a selection of artwork from the Currell Collection. 

The office is part of Currell’s expansion eastwards, to tap into a thriving area that presents lots of opportunities for growth and development. Located on Wallis Road, it’s less than a two minute walk from Hackney Wick Overground station, and is now open for business – from 9am-6pm during the week, and 10am-4pm on Saturdays.

As part of the company’s expansion into East London, Currell are pleased to announce that we will be opening a new Hackney Wick Fish Island office on Wallis Road. The office is in a perfect location just down the road from Hackney Wick Overground station.

As well as selling and letting properties within Hackney Wick and Fish Island, we will also be working in the surrounding areas of Leyton and Stratford.

Anne Currell, CEO, said:

“HWFI is a natural extension of our already very strong positioning in East London.

In the nineties Hackney Wick had the largest number of artists’ studios in Europe. They sat alongside the industrial buildings which replaced the Victorian housing lost in the blitz. I have lived in Hackney for over 30 years and I have a passion for art, so it’s not surprising we wanted to be part of the story of Hackney Wick; to see new homes created whilst retaining the artistic fabric of the area.”