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Category Archives: Real Estate News

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DREAMING OF RETIREMENT …

That’s what we were doing at Property Week’s Retirement Living Conference. As one of the most untapped sectors in real estate we were amazed to hear about the potential for a retirement living explosion. There were approximately 11.8 million people over the age of 65 in the UK in 2016, and this is set to

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Technology in the Property Industry

Hogan Lovells hosted the Reading Real Estate Foundation Breakfast Forum (RREF*) on 17 November 2017.  This year’s topic was: Technology in the Property Industry and provided digital food for thought from three key areas. David Sleath (CEO of SEGRO) described the ways in which technology has changed the warehousing sector.  This includes how warehouse design

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Unopposed Lease Renewals – a need for speed?

From 1 December 2017, there will be a year-long pilot scheme for unopposed lease renewals that are issued in the County Court at Central London (CCLC).  All claims will be transferred to the First Tier Tribunal (Property Chamber) (the FTT) in London. The main aim of this is to “ensure that all cases proceed to

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Government issues draft Tenant Fees Bill banning residential letting fees

Earlier this year, we blogged on the government’s proposals to ban residential letting fees.  On 1 November, the government took the next step towards realising those proposals by publishing the draft Tenant Fees Bill. The Draft Bill The draft legislation bans landlords and agents in England from charging residential tenants and licensees fees or other charges

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Flexible terms in flexible space: is London’s office market changing for good?

The London office market is not what it was 10 years ago.  A combination of “place-making”, changes to employee working patterns and the development of efficient and robust IT infrastructure has enabled London’s work force to become a much more mobile community which has prompted a change in attitudes to leasing. Businesses, particularly small to

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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

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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

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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