Relocating to Stratford: the lettings market

Stratford – the new jewel in the East London crown. This town in the Borough of Newham stepped into the spotlight when confirmed as the location of the 2012 Olympic stadium. The rush of associated investment brought with it improved public transport links in the shape of Stratford International – the station with its high-speed train line running to St Pancras in one direction and mainland Europe in the other. Also in time for the Olympics was the mega Westfield shopping mall and a future legacy plan is in place to ensure E15 doesn’t become an expensive ‘white elephant.’

While short-term and holiday lets became a big trend in Stratford during the Olympics, the demand for long-term rental accommodation has taken over. The post-Games improvements have made E15 a desirable place to live, and the allure works in tandem with the ‘arts vibe’ that was already spilling over from places like Hoxton, Shoreditch, Brick Lane and Bow.

Now Stratford is deep in reincarnation mode, morphing into a new residential and business quarter, with villages, office space and facilities springing up in and around the old Olympic sites. One of the biggest drivers for growth is the tech sector, with a mass exodus to E15 from Shoreditch and Old Street for better value. Speaking to the Evening Standard, Richard Moross (founder and CEO of the business card and print company Moo), talked about the relocation of his production arm from Silicon Roundabout to E15: “Stratford is a good option and the rent is about half what it is in Shoreditch. There is a good infrastructure for transport and shopping with Westfield.”

Leading the employment pack is a new groundbreaking facility called Here East – a 1.2 million sq ft business and technology campus in the former media centre at the Olympic Park, providing a dedicated home for London tech. It’s just one facet that is making Moross consider moving his whole operation to Stratford. Business leaders are also watching the development of The International Quarter – a new business address in the heart of Queen Elizabeth Park, hoping to house 7, 000 offices workers by 2018.

With big business comes the need for housing, and the Olympic legacy is certainly delivering. Thousands of new homes are under construction, with parkland, riverside and urban settings. The area is so vast that several new neighbourhoods are being created, including Chobham Manor, Chobham Farm, Strand East (also with 480,000 sq ft of office space), East Village, Sweetwater, East Wick, Marshgate Wharf and Pudding Mill.

The choice of rental accommodation will be amazing, with many new developments committing to a minimum number of units specifically for the buy-to-let sector. Some of the new homes are already coming to fruition, complementing the existing housing stock in Stratford.

Here at Klippa Relocation we are charting the progress of the buy-to-let sector in Stratford, and are forging strong links with local letting agents and developer-landlords to offer home movers the very best rental choice in E15. If you have clients relocating to Stratford and would like orientation and housing advice, contact Klippa Relocation today.

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