JLL Residential

Sales activity in Stratford strengthens as we head into Q4

London, 18 October 2017

This month, JLL's Stratford property specialists discuss their corner of east London, the impact of its growing sales market and the influence of local landlord licensing initiatives.

JLL’s Stratford office opened its doors just over 18 months ago and since then, this busy corner of east London has grown rapidly. In 2017 alone almost 1,000 new homes have completed in developments including Glasshouse Gardens, the Azure building, Chobham Manor, River Heights and Capital Towers.

With so much going on the in the area, buying or renting in Stratford is starting to become a lifestyle choice rather than a decision influenced by budget or access to transport. The facilities and accessibility of the Queen Elizabeth Olympic Park really allow Stratford residents to connect with London’s Olympic Legacy. Events such as World Taekwondo Championships in October, and summer’s World Athletics Championships encourage everyone here to get involved. JLL’s Stratford team recommend visiting the ArcelorMittal Orbit, which holds the world’s longest tunnel slide – great fun!

Stratford’s transformation is about more than housing and leisure, however. A steady influx of established and growing businesses are basing themselves in the area, attracted by commercial projects such as International Quarter London by Lendlease. IQL’s next resident will be Transport for London, which will move into its new office this month.

Lettings
Stratford’s lettings team have had a busy summer, with an influx of new City and Canary Wharf based professionals choosing to make their homes in the area. The second phase of Glasshouse Gardens completed just before Autumn began: Cassia Point offers a gym, 24 hour concierge and views across the Olympic Park. One bedroom apartments have achieved rents of £1,500-£1,700pcm. Two bed apartments are available from £1,900-£2,200pcm and three beds from £3,000pcm.

With Stratford now firmly on the map as a rental destination, we’re looking forward to the buzz that will accompany the launch of Telford’s Stratosphere development, opposite our offices on Station Street. One, two and three bedroom apartments are available to let within Stratosphere, all of which benefit from access to a sky gym, concierge and residents’ lounge.

Finally, now is definitely the time for Stratford landlords to check if they have their Newham Landlord Licence in place. With ARLA Propertymark announcing this week that they expect Hackney Council to create a new scheme for the borough, it looks like landlord licensing may be rolled out across many more locations in London and the rest of the UK. Tower Hamlets, Newham and Southwark all have various schemes in place and JLL can help to ensure that you and your properties are fully compliant. With the fine for not having a license being up to £25,000, we urge landlords to get in touch to discuss further.

JLL Stratford Lettings
020 3147 1500
stratford@eu.jll.com

Sales
After a slower September than usual, activity levels have now picked up. The first week of October saw our office triple the number of sales it completed compared to the first week of September. Applicants remain cautious, but we are finding that this makes them more willing to move quickly when the right opportunity arises.

We are still seeing a lot of interest in developments that are yet to complete, both from investors and potential owner occupiers. One of the most high profile of these projects is Telford Home’s Stratosphere, where we have a wide selection of properties for sale. Elsewhere in Stratford, we have recently been instructed on a lovely 3 bed apartment in the East Village development, which has received a lot of interest, as properties in the former Olympic Village rarely come to market.

We are starting to see more enquiries from families considering a move to Stratford, attracted by its blend of good transport links and family friendly attractions across Westfield and the Queen Elizabeth Olympic Park.

Finally, JLL has been instructed by Hill/Peabody on one of the phases in Fish Island Village. This development sits in fashionable Hackney Wick, which is being heavily regenerated. Due for completion in 2018, situated in a peaceful canal-side location, Fish Island Village has a lot to offer families of all sizes, with a range of interesting cafes, restaurants and independent shops. Please get in touch with the Stratford office for more details.

JLL Stratford Sales
020 3147 1500
stratford@eu.jll.com