Tag Archives: Get Living London

Award for Get Living London project

Get Living London, the private rental development created from the former Olympic athletes’ village in Stratford, has been named Private Rented Sector Project of the Year at the inaugural MIPIM UK awards. The award was presented by TV personality Clare Balding in a ceremony during the three day MIPIM UK event at Olympia, London on 17 October.

The judges made their award to the project in recognition of the project’s straightforward rentals without hidden fees or extras; the availability of long term tenancies of up to three years, with the flexibility of breaks; and the benefit of a direct relationship with the locally based management team seven days a week.

“We are delighted to receive this award which recognizes the company’s concerted effort to shake up the private rental sector through this exemplary project,” said Neil Young, Get Living London’s chief executive. “We are proud to be commended for the high quality of the homes and our provision of a service which we feel is currently unparalleled.”

Andy Martin and Neil Young of Get Living London receiving their MIPIM UK award from Clare Balding.

Andy Martin and Neil Young of Get Living London receiving their MIPIM UK award from Clare Balding.

The first units at Get Living London were handed over to the company in November 2013 and the company has recently announced its 1,000th resident moved in. The company is continuing to take on and rent additional units in the village, with a series of retail units now letting to local businesses, providing an additional benefit to the growing community.

East Village fits the bill for London’s younger renters

Almost two thirds of renters at East Village, are under 30, as London’s former Olympic village provides private rented homes for the capital’s bright young things.

The demographic breakdown of the residents at East Village was revealed as the two year anniversary of the start of the 2012 Olympics approaches in the next few days. In the time since the world watched the global sporting event at Stratford, the area has been transformed, with a new public park, sporting facilities now open to the public, and a growing new neighbourhood where around 2,500 people now live.

Derek Gorman, chief executive of landlord Get Living London, which is developing and managing East Village, revealed the split of tenants by age and source, in an interview with the Standard newspaper’s Peter Bill.

East Village, Stratford

The area is clearly appealing to a younger demographic. Residents under 25 account for 31% of East Village residents, while those 25-30 account for a further 31%. The 30-40 year olds represent 25% of the total, leaving just 13% of tenants aged 40 or older.

Taking a look at the source of renters arriving in East Village, two thirds have moved from elsewhere in the capital, while just 3% arrive straight from overseas. It is not clear why those local movers are choosing East Village, though the opportunity to rent direct from a landlord that provides inclusive rental contracts, proactive maintenance and a pleasant, well-managed environment may have something to do with their decisions.

Currently, Get Living London manages 1,400 private rented homes at East Village, and the next phase, a pair of towers containing 448 more homes, will shortly go before planners for pre-construction approval.

Olympic Park opens with rental homes on its perimeter

The Queen Elizabeth Olympic Park in Stratford has opened this weekend – and it’s the ideal backyard for sporty renters……

Queen Elizabeth Olympic Park

Queen Elizabeth Olympic Park

The park opens onto Get Living London’s new rental apartments in the former Olympic village, and gives local residents and visitors access to the park and to sports facilities including the Olympic swimming pool.

“With the Olympic Park reopening, this is a unique chance for renters to move to a quality new home with world-class sports and leisure facilities on their doorstep,” said Get Living London’s chief executive Derek Gorman.

Prices at East Village start at £310 per week for a one bed apartment, with four bed townhouses from £550 a week – more details here.

Housing shortage could scupper London’s future

A shortage of homes has the potential to snuff out London’s economic growth. Unless the issue is tackled, and provision made for more rented homes and other forms of tenure, then the shortfall could cost the London economy a consequential loss of £85 billion by 2025.

That’s the stark warning from a new report into the capital’s housing market by professor Michael Ball of Henley Business School. His research, sponsored by rental landlord Get Living London, uncovered a range of interesting facts about the market, and lays out some uncomfortable truths for policy makers.

“Private market housing shortages are not simply an issue for those wanting to live in London but a major economic problem that should be of national concern,” warns the report in its executive summary. London’s booming economy needs more homes, of the right types, to encourage the bright young people who will drive economic growth. A quarter of Londoners now rent, including a “core group of highly skilled, affluent renters who help drive the London economy”.

Inadequate housing provision could ultimately put people off coming to live and work in London – with employers moving from the capital if the situation gets bad, and they cannot attract the right skilled labour. A radical change in housing supply is needed, insists the professor in his report summary.

“Bringing together the themes of the core renters in London, the Capital’s housing shortage and its economic prospects has thrown up some very striking findings,” said prof Ball.

“The economic cost is far greater than most imagine and is centred on a lack of accommodation for the well-qualified segments of the workforce that drives the London economy. Many of these relatively affluent people want well-located, good quality rental homes. Core rental demand by them is set to rise sharply yet supply will lag woefully far behind it.”

And Get Living’s chief executive Derek Gorman commented: “London is the economic powerhouse of the UK, attracting trade and talent from around the world but it is widely acknowledged there is a serious shortage of homes in the capital.

Richard Blakeway, professor Michael Ball and Get Living London's Derek Gorman.

Richard Blakeway, professor Michael Ball and Get Living London’s Derek Gorman.

“The Mayor of London has stated that 400,000 new homes will be needed in the next ten years and Get Living London is playing its part by bringing more high-quality private rented homes to the market. With this research we hope to highlight the very real challenges to London’s economic growth over the coming years if we don’t deliver more and better homes.”

Also at the report’s launch was deputy mayor for Housing, land and property, Richard Blakeway, who added: “Purpose built long term rental homes are one of the keys to increasing the supply of new top quality homes for Londoners, while boosting the economy and creating thousands of new jobs.”

Get Living London is doing its bit to help. The company has 1,439 new private homes for rent at East Village, the former athlete’s village at the 2012 Olympics venue in Stratford. The homes, offering from one to four bedrooms, are being released following a post-Olympics refit, and at the end of February, the one hundredth new resident moved in.

Resimarketnews will be reporting further on the findings of the report. Meantime, if you would like a copy of the report, it is available directly from the Get Living London website.