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Professional & Surveying Services

Commercial Property Services

Through December '15/January '16, and in conjunction with The Marlowe Theatre, Canterbury, we organised a competition for students who had chosen to rent a Caxtons' student property in Canterbury for the 2016/17 academic year. On offer were three prizes of a pair of tickets to a production at the amazing Marlowe Theatre, which re-opened in October 2011, after an extensive rebuild and has since become one of the country's leading regional theatres.

Competition entries closed on 31st January and, after careful deliberation, three lucky winners were selected.

The winners are:

  • Samuel Jackson
  • Lauren Seward
  • Michael Summers

Each winner will be able to select two tickets from a variety of productions due to be staged at The Marlowe in the near future. Performances range from the Russian

ballet, musicals (including hip-hop 'Into The Hoods') and plays by Shakespeare and Alan Bennett – so something for every taste.

Duncan Reeves, associate director and head of Student Lettings said, "We were keen to show our appreciation to student tenants who chose Caxtons to provide their accommodation, so decided to give them the opportunity to get something in return.

"We are involved with The Marlowe Theatre as corporate members, so thought that they would be the perfect partner for this initiative, and we were right. We were really pleased with the response to the competition and delighted that those who came to the office to deliver their competition entry forms by hand seemed really keen on the collaboration between Caxtons and The Marlowe.

"We hope that the winners enjoy whichever performance they select, and will consider running something similar again later this year."

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Duncan Reeves

Following the aftermath of the 2007 flooding, the government called for the insurance industry to step up with regard to future flooding cover. Since then the UK has witnessed many more major incidents, most recently in December 2015 and into 2016, which the tabloids estimate will cost the UK around £5-6billion.

Flood Re is a not-for-profit fund that was established in 2011 as a collaboration between the government and the Insurance industry, to provide affordable cover for the worst 1-2% of those living in areas at high flood risk. It has been confirmed that the scheme will go live in April 2016.

Brendan McCafferty, CEO of Flood Re said: "The impact of Storms Desmond, Eva and Frank have been devastating and I express my sympathy for those who've had their homes flooded.

I want to reassure homeowners that Flood Re is on track to start accepting policies from insurers in April. This will give people access to more affordable flood insurance ensuring that the insurance safety net continues to be in place for the future, even if your property is at a high risk of flooding."

This new scheme is a replacement for the Flood Insurance Statement of Principles, introduced in 2000, which was only ever intended to be a temporary measure and has now become unsustainable.

Flood Re will be in place for 25 years and is designed to promote the availability and affordability of flood insurance. It will be funded by a levy on all home insurers (an average of £10.50 a year), regardless of whether they live in flood-prone areas. To those who query having to pay the levy, the ABI (Association of British Insurers) has pointed out that there has always been

some subsidy between low and high flood-risk policyholders, adding that many people are still at risk from flooding even if they do not live near a river or the sea. It is estimated that over that time around 350,000 homes may benefit as a result of the scheme.

To be eligible for the scheme, the property must be covered under private household insurance. Also, the property must have been built before 1st January 2009, which is hoped will be a disincentive to the building of more houses in areas of high flood risk. Flood Re will not include businesses so will not resolve any issues involving commercial property. This means that the whole commercial sector, including residential letting properties, falls outside the Flood Re remit.

It has been said that Flood Re should cover every flooding situation up to what is described as 'a one in 200-year event'. This would be the equivalent of a flood six times greater than the ones that hit the UK in 2007, which has been described by the Association of British Insurers (ABI ) as "very unlikely".

It remains to be seen whether the release of capital that would normally be reserved for catastrophic flood events, will translate into a more flexible underwriting approach in the commercial property sector.

For further information on our Property Insurance services contact Morag Keohane on 01474 537733 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

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Morag Keohane

Chartered surveyors Caxtons is delighted that they have again beaten the clock and let a flat within 24-hours of it going onto the market.

Amelia Singer Caxtons' Residential Lettings Manager took on a two-bedroom apartment in Rotherhithe with excellent transport links and good views over the River Thames to Canary Wharf.

Amelia viewed the property then went back to her office and prepared the property details, ensuring they were uploaded to the Caxtons' website and property portal Rightmove. As soon as the details went 'live' she received an enquiry about the property and responded immediately. She arranged a viewing, convenient to the current tenant, for later that day.

She met the professional couple who had sent the email enquiry and showed them around the property. They loved the flat and agreed on the spot that, subject to successful referencing, they wanted to rent the property. With the paperwork done, a date has now been set for them to move in in the New Year.

The rent achieved on this ideally positioned property was £1675 per calendar month. However, the speed of let was

due in no small measure to Amelia's willingness to go that extra mile and to make herself available at a time that was convenient to both the landlord and applicants.

Rotherhithe

While this Lawrence Wharf, Rotherhithe apartment had everything going for it - including ideal location, excellent transport links, stunning views, modern and clean with a high specification throughout - it was never going to be on the market for a protracted period. However, it was still a delight for the landlord to discover how quickly it had been let and that there would be no expensive void period to worry about.

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Amelia Singer