Archives: Corporate Real Estate

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The Modern Slavery Act 2015: Effects on the Property Industry one year on

Modern Slavery is broadly a term covering slavery, forced labour, servitude and human trafficking. It has been described as “the great human rights issue of our time” by Theresa May. The Modern Slavery Act 2015 was introduced as part of an effort to tackle the issue by imposing a requirement on every large business carrying … Continue Reading

Partitions and Vacant Possession

We are often asked by landlords whether tenants need to completely strip out premises including partitioning when they are required to deliver up vacant possession. This is most common when break clauses are conditional on delivering vacant possession. What does vacant possession mean? In the leading case (NYK Logistics Limited –v– Ibrend Estates), it was … Continue Reading

Please can I have your Autograph Mr Ramsay!

You might have seen some of the recent media coverage of Gordon Ramsay’s court case relating to a personal guarantee given to his landlord that was signed using an “automated pen” operated by his estranged business partner and father in law. A significant sum was at stake given the personal guarantee guaranteed the tenant’s obligations … Continue Reading

(UK) Impact of budget for residential buyers

There was a surprise announcement in today’s Budget in relation to “high-end” residential property. The government has significantly extended the scope of the SDLT 15% “penal” rate that applies to acquisitions of residential property by non-natural persons (i.e. corporate entities). The 15% rate currently applies to individual residential properties worth over £2,000,000. From midnight tonight the 15% … Continue Reading

(UK) Subletting Pitfalls

This post was written by Alexander J. Heaton and Siobhan Hayes. Leases entered into by tenants at the height of the last real estate boom tend not to be particularly tenant-friendly. Many tenants re-structured during the recession and still hold surplus space which, given the improving economic conditions is now getting sublet. These boom time … Continue Reading

Exercising break clauses – apportion rent at your peril

This post was written by Katherine Campbell and Siobhan Hayes. We have seen many cases deciding whether tenants have managed to break their leases during this economic downturn. Many tenants break rights are conditional on rent payment by the break date and the recent case of PCE Investors Limited v Cancer Research UK highlights another danger … Continue Reading

Unbroken Leases

This post was written by Siobhan Hayes and Katherine Campbell Break clauses are currently one of the hot topics in real estate litigation. This is unsurprising given the state of the market. A High Court case reported this week shows how difficult it can be for tenants to operate a conditional break clause in a … Continue Reading

CRC is changing

This post was written by Catrin Phillips and Siobhan Hayes Much has been written about the UK Government’s Carbon Reduction Commitment (Energy Efficiency) Scheme (‘CRC’) over the last two years. Many in the property sector are aware of the complications around reporting carbon emissions to comply with the CRC and charging the costs of allowances … Continue Reading

Break Notices – Grounds for a Dispute

Tenants exercising break clauses in their leases are creating plenty of work in the property disputes field at the moment. Many tenants who have the opportunity to break the term of their lease are seizing it, and landlords in return want to find any way possible to challenge the validity of those notices. This posting identifies some of the topics arising on lease breaks.… Continue Reading

Can landlords carry out environmental surveys during the lease term?

This post was written by Siobhan Hayes and Richard Nicoll. Landlords/investors involved in selling or refinancing tenanted properties may need to carry out intensive environmental tests to satisfy the buyer/lender.  Can landlords do these without the tenant’s co-operation, for which a tenant may seek a high price?  Leases of commercial property reserve specific rights of … Continue Reading

Risk to building owners – Remember to Notify Your Insurers

This post was written by Siobhan Hayes and Richard Nicoll. The duty on investors and other owners to notify building insurers and keep them updated of all material circumstances should not be under-estimated.  Failure to do this may result in cover being prejudiced. An unusual case that reached the Court of Appeal earlier this year … Continue Reading
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