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Archive for the: Commercial Property category

Government Plans a Ban on Leasehold New-Build Houses

Posted by on July 27th 2017 in Blog Posts, Commercial Property , Property

 

The Government plans to ban the sale of new-build Leasehold houses under drastic changes amid the concerns regarding the growing trend of extortionate ground rent increases. Leaseholds on new-build houses would be outlawed, while ground rents could be dramatically reduced, under Government plans subject to public consultation.

Presently, purchasers of new-build Leasehold houses have been at risk of unacceptable rises in ground rents to scales simply unaffordable. These Leaseholds have been criticised heavily for being unfair and penalising those who manage to make it onto the property market. With the ground rents increasing, the property may then become impossible to...

The Rise of Property Fraud - How Can Home Owners Protect Themselves?

Posted by on July 5th 2017 in Blog Posts, Commercial Property , Property

The Rise of Property Fraud - How Can Home Owners Protect Themselves?

During the last few years, the real estate sector has seen a rise in property fraud.  Property is usually the most valuable asset people own and it is a clear target for fraudsters who could attempt to sell or mortgage a home.  The rise of fraud has mostly been down to identity theft with devastating effects.

You are more at risk if:

  • You rent out your property
  • You live overseas
  • Your property is left empty for long periods
  • Your property isn’t mortgaged
  • Your property is not registered

In order to protect your property from being fraudulently sold or mortgaged, the following steps should be taken, even if...

Solar Panels - One Legal Pitfall!

Posted by on June 30th 2017 in Blog Posts, Commercial Property

Solar Panels - One Legal Pitfall!

The Landlord and Tenant Act 1954 (“the 54 Act”) confers security of tenure on business leases.  Security of tenure - the right of a tenant to continue to occupy premises after the lease has expired and to renew the lease, is an obvious benefit for a tenant. In the context of roof space leases, the question is posed whether such a grant could confer security under the 54 Act?

In order to benefit from the provisions of the 54 Act, a lease for solar panels must be a “business lease”. The 54 Act defines a lease as a business lease if...

The March of the Pop Up

Posted by on June 21st 2017 in Blog Posts, Commercial Property

The March of the Pop Up

We have witnessed an unprecedented change to the high street scene. The recession saw off Woolworths, MFI, Austin Reed, BHS to name a few of the old stalwarts.  Changes in technology and habits have seen to the loss of Blockbuster, HMV and smaller independent operators, to produce a homogenous and boringly predictable retail offering up and down the high street. 

In their wake we have witnessed a proliferation of charity shops, surviving by minimising base cost, enjoying tax breaks and stripped down staffing costs.  The over supply (or rather poor demand for high street retail positions) has also seen the emergence...

Online Database of Criminal Landlords

Posted by on May 16th 2017 in Blog Posts, Commercial Property , Contentious Probate, Property

Online Database of Criminal Landlords

Mayor of London to introduce a new online database of criminal landlords and letting agents

The Mayor of London, Sadiq Khan, announced on 26 April 2017 that a new online database will be launched in the autumn to “name and shame” criminal landlords and letting agencies who have been successfully prosecuted for housing offences.

There is an estimated 2 million private renters in London and therefore by introducing the online database the Mayor believes that it will give renters greater confidence in renting in London by giving them the opportunity to check prospective landlord or letting agents before entering into a...

Guide to Buying Commercial Property

Posted by on July 6th 2016 in Blog Posts, Commercial Property

Guide to Buying Commercial Property

This guide is a snap shot overview to buying a commercial property after terms of the purchase have been agreed between the parties.

Heads of Terms

The Seller’s Agent will produce a set of Heads of Terms (also known as letters of intent, memoranda of understanding, heads of agreement, letters of potential interest, term sheets or protocols) which set out the terms of the commercial transaction which have been agreed in principle between the parties in the course of negotiations.

Secure Lending

If your proposed purchase of the commercial property is dependant on third party lending you may be minded to seek and obtain...

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