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Keeping It Real Estate News and Trends in UK Real Estate, Disputes and Planning Law

Category Archives: Real Estate News

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The Clean Growth Strategy – Government releases its strategy for a low carbon future

On 12 October the Government released its latest strategy to promote “clean growth” in the UK. It sees clean growth as growing the UK’s national income, while cutting greenhouse gas emissions that contribute to climate change. In her ministerial statement, Claire Perry, the Minister for Climate Change and Industry, outlined the strategy as an important

Posted in Real Estate News, Uncategorised

THE RISE AND RISE OF SHORT TERM LETTINGS

Thanks to the popularity of short term lettings, we are benefiting from a wealth of choice and flexibility in holiday accommodation. Wherever the destination, there will certainly be unique properties available at reasonable prices through short term lettings of private homes.  This has proved to be a highly successful formula which has produced great results

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Setting the boundaries: a new protocol for resolving disputes

When you hear the term “boundary dispute”, you probably imagine the following familiar set of circumstances: Two parties at loggerheads over a small strip of land. Entrenched positions holding sway over the legal and surveying considerations actually needed to resolve the dispute. A complex, chaotic and protracted dispute, even though there should be a well-worn

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Time for a Reminder

Timing is everything, they say, and nowhere is that more true than in the law of contract, where a failure to meet a deadline can have serious commercial and practical ramifications for the parties. In this blog Tim Reid has pulled together a reminder of some of the most common rules affecting commercial contracts connected

Posted in Real Estate, Real Estate News, Uncategorised

What is the “Staircase Tax”?

There has been a lot of comment in recent weeks about the so-called “staircase tax” and its impact on small businesses, especially focussing on its retroactive effect and the fact that business occupiers are having to pay tax for previous years that wasn’t demanded from them.  At first blush, this all sounds very unlike the

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Smart Solutions for Smart Cities

  Smart cities will fundamentally change the way we live in, move around and use the space within our urban environment.  They will also change the way in which real estate deals are transacted with creative solutions being required for the changing face of building design and demand. On a macro level, new real estate

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Government proposes to abolish residential ground rents

Following a number of recent reports of scandals involving leasehold properties, the Rt Hon Sajid Javid MP, Secretary of State for Communities and Local Government, yesterday issued a consultation paper entitled “Tackling unfair practices in the leasehold market” with the aim of addressing particular issues.  You can read the full paper here. We highlighted some of

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Money Laundering Regulations 2017: government rush threatens a teething period for property auctioneers

New money laundering regulations could prove to be a headache for property auctioneers until those affected get to grips with the changes, according to leading figures in the industry. The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the “Regulations”), as laid in Parliament on 22 June 2017 and

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ESOS – Lessons Learned and Looking to the Future

Large businesses will remember the challenges of trying to comply with Phase I of the Energy Savings Opportunity Scheme (ESOS) in the run up to Christmas 2015. “Trying” was the operative word because “lead assessors” (who are key in assessing and signing off on a business’ ESOS compliance) proved to be in such short supply

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EMI and Frankenstein: Not dead yet

Last year, we blogged here on the case of EMI Group Limited v O&H Q1 Limited.  EMI was a case in which an assignment of a lease was rendered void, as it offended the provisions of the Landlord and Tenant (Covenants) Act 1995 which require tenants and guarantors to be released on assignment.  The Court confirmed

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Government pushes ahead with ban on residential letting fees

The government has announced that it will bring forward proposals to ban letting agent fees in England.  The measures, announced in the Queen’s Speech, will be implemented through a new Tenants’ Fees Bill. The government had already targeted upfront fees in the 2016 Autumn Statement with a promise to ban fees “as soon as possible”;

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Removing the limits – a new class of real estate investment vehicle

UK limited partnerships have been go-to investment vehicles for United Kingdom real estate for many years.  Their attraction lies principally in their tax transparency, contractual flexibility and the limited liability protection they are able to offer investors.  They have not been without their issues, however, and, from 6 April 2017, investors and fund managers are

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Nationwide announces position on onerous ground rents

Nationwide announced recently that it will not lend on new build residential leasehold properties if the amount of ground rent is more than 0.1% of the purchase price. This change has been introduced by Nationwide in part to protect the marketability of the property from what Nationwide describes as “unreasonable multipliers”, such as ground rents

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Did WannaCry make you want to cry? Real risks for landlords and tenants

As the extent of the damage caused by the recent WannaCry ransomware virus becomes clearer, businesses across the world have been reminded of the critical importance of cyber security measures, and the potential fall-out should those measures prove insufficient or ineffective. The virus worked by encrypting the victims’ data and then demanding payment for its

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A new dawn? Revised Telecoms Code receives Royal Asset

In the sweep-up sessions just before Parliament was dissolved earlier this month, the Digital Economy Act 2017 received Royal Assent. The Act, once brought into force, includes a new Electronic Communications Code. What is it and why does it matter? Property owners are often happy to allow telecoms operators to install equipment on otherwise redundant

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Indecent Proposals: Tenants giving notice of intention to appoint administrators

It has long been a bone of contention for landlords that tenants can simply file a notice of intention to appoint administrators in order to get an automatic moratorium against any enforcement action.  This prevents a landlord from forfeiting, suing or exercising CRAR irrespective of whether the tenant goes into administration and, seemingly, whether it

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A move to “glasshouses”: Government announces call for evidence on a register of beneficial owners of property controlled by overseas companies and other legal entities

On 5 April 2017, the government launched a call for evidence on a register showing the beneficial ownership of property controlled by overseas companies and other legal entities. This isn’t the first time that these proposals have hit the news. Last year, in March 2016, the government consulted on their proposals for such a register;

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Hogan Lovells wins Real Estate Team of the Year at Legal Business Awards 2017

Hogan Lovells is delighted to have won Real Estate Team of the Year, jointly with Gowling WLG, for its work on the £3bn redevelopment of Brent Cross South. The scheme has been described as one of the most ambitious regeneration projects in London in living memory. Hogan Lovells advised Argent Related on the scheme to

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Squatting in mansions: The risk to residential as well as commercial premises

Since the beginning of this year, the so called Autonomous Nation of Anarchist Libertarians has occupied a number of multimillion pound residential properties in and around Belgravia.  Autonomous Nation’s cause is to highlight the number of properties sitting vacant, whilst the number of homeless people continues to rise. Their occupation of a £14 million mansion

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Tenant insolvency – Is there merit in a further moratorium?

The recent spate of high-profile company voluntary arrangements (CVAs), including those of BHS, Store 21 and more recently Love Coffee, The Food Retailer Group and Blue Inc, has placed this corporate rescue tool back in the spotlight. CVAs can be a useful mechanism for turning around a failing business, but it is clear that they

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Terrorist Attacks: The importance of adequate security measures at hotels

Hotels are targets for terrorists due to the likely presence of foreign tourists and the consequent possibility of impacting multiple nations with one attack. We blogged http://www.ukrealestatelawblog.com/2017/02/24/revolution-or-evolution-protect-survive/ a few weeks ago about Richard Walton’s keynote speech to the Hogan Lovells CBRE 2017 Hotel Conference.  Richard, a former Head of the Met’s Counter Terrorism Command at New

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Business rates revaluation 2017: an explanation

On 1 April 2017 the business rates payable in respect of properties in England and Wales will be changing. Business rates are the tax that businesses pay on the retail, office and industrial premises that they occupy.  The total tax payable by an occupier is based on the rateable value for the premises combined with