Archives: Real Estate Development

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Method in the madness: new certainty in valuation methods for viability assessments

By Katherine A. Campbell and Julia Berry on Posted in Real Estate (UK), Real Estate Development
Viability assessments for affordable housing have long been a source of frustration for developers. This difficult element of the planning phase is often the cause for delays in getting a development to the point where works can start. There is hope on the horizon in respect of one aspect at least however: a recent ruling should … Continue Reading

Attack of the Triffids: Knotweed nuisance cranks up a notch

By Indeg Kerr on Posted in Ownership, Real Estate (UK), Real Estate Development, Real Estate Investment, Real Estate Management
Investor, developer, indeed landowner in any capacity – recent rulings mean Japanese Knotweed is now more of a nuisance (and a costly one) than ever. With over 6000 UK locations identified as containing the weed, you best be clear on how to handle this inconvenient invader or you face ending up in a bind. What’s … Continue Reading

Placemaking without Lawbreaking

By Daniel Kyriakides and Sara Edwards on Posted in Real Estate (UK), Real Estate Development, Real Estate Management
Placemaking? Mixed-used developments in and around London are in the midst of a golden era with the creation of mega-schemes such as those in Nine Elms and Old Oak. The new Wembley Park Development will see the creation of an unprecedented 7,000 apartments, surpassing the Olympic Village scheme in Stratford by some 4,000 residential units. … Continue Reading

Time for Plan B? Amending a planning scheme.

By Stuart Wright on Posted in Real Estate Development
In today’s volatile markets the commercial viability of a project can change in the time it takes to implement a hard-won planning consent and even after works have begun. It may therefore be necessary to amend a scheme to maintain its profitability and viability. To accommodate such changes, planning schemes are often amended or a … Continue Reading

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

By Siobhan Hayes and Geoffrey Yussouf on Posted in Corporate Real Estate, Real Estate (UK), Real Estate Development, Real Estate Investment
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

So is this the time for developers to think big and build big?

By Stuart Wright and Siobhan Hayes on Posted in Real Estate (UK), Real Estate Development
On Monday 28 November 2016 the City of London’s Planning and Transport Committee approved (19 votes in favour, 2 against) a resolution to grant permission for the development known as 1 Undershaft which at 73 storeys will be the tallest building in the City of London (that is 304.94m or a little over 1,000ft for … Continue Reading

(UK) A Construction Industry Scheme Is Taxing For Both Landlords And Tenants

By Matthew Jones and Annette Beresford on Posted in Real Estate (UK), Real Estate Development, Real Estate Investment
It is all too easy for landlords and tenants not to realise that their deal can fall foul of the Construction Industry Scheme (CIS) requiring contractors to withhold tax from sub-contractors, designed to make sure that sub-contractors income tax is paid. How does this happen? – A landlord can be deemed to be a contractor … Continue Reading

(UK) Business Rates and Compensation for Tenants

By Jess Hartley and Siobhan Hayes on Posted in Real Estate (UK), Real Estate Development, Real Estate Investment
Following our recent update on business rates, we are warning developers to look at their budgets for statutory compensation that may be due at the end of a 1954 Act protected tenancy because of the VOA’s reassessment of rateable values, which comes into force next April 2017.  The timing of the notices served to end the … Continue Reading

Pubs & Planning Update

By Julia Berry on Posted in Real Estate (UK), Real Estate Development, Real Estate Investment
Wandsworth Council has just taken the unprecedented step of issuing a non-immediate Article 4 Direction to withdraw permitted development rights relating to demolition, alteration and changes of use from 120 pub and bar sites in Wandsworth “due to their historic or architectural value or because they make a positive contribution to their community”. Unlike an … Continue Reading

Update on Small Scale Developments

By Julia Berry and Siobhan Hayes on Posted in Real Estate (UK), Real Estate Development
Following on from our posting about the removal of the exemption of small scale developments from affordable housing contributions, please note that the Court of Appeal reversed the High Court’s decision. The Court of Appeal has given legal effect to the Government’s intended policy and that now means that: contributions should not be sought from … Continue Reading

That Sinking Feeling

By Jamie Garside and Siobhan Hayes on Posted in Real Estate (UK), Real Estate Development, Real Estate Investment
Structuring the ownership of mixed use buildings requires care both initially and then during the management of the building.  In a recent case, an investor in the residential parts of a mixed use building faces a significant service charge shortfall that was avoidable. Residential tenants benefit from a statutory requirement that their service charge must … Continue Reading

Small Developments Affordable Housing News

By Julia Berry and Siobhan Hayes on Posted in Real Estate (UK), Real Estate Development
Welcome news for developers of small sites. Following the government’s successful appeal last week against the decision in the West Berkshire Council and Reading Borough Council case nearly a year ago (click here to go to our previous posting), the National Planning Practice Guidance will be amended again. It is expected to reintroduce the relevant … Continue Reading

The sky’s the limit…

By Stuart Wright on Posted in Real Estate (UK), Real Estate Development, Real Estate Investment
What would you do if; your property development business had obtained planning permission to construct a 62 storey tower comprising 200,714 sq.m; you had secured funding in principle to commence the development; BUT the proposed development infringed the rights to light of 61 properties – of which 53 were maintaining their fundamental right to an … Continue Reading

A new broom: sweeper clauses in residential leases

By Sarah Atkinson on Posted in Real Estate (UK), Real Estate Development, Real Estate Investment
Properly employed, sweeper clauses are designed to catch service charge costs that may be unforeseeable at the time of drafting. This is an essential fall back when drafting a long residential lease whose term will be somewhere between 99 and 999 years and subject to a statutory right of extension on the same lease terms. … Continue Reading

Update on Office Conversions to Residential

By Julia Berry and Siobhan Hayes on Posted in Real Estate (UK), Real Estate Development
The Government has issued a statement on 13 October 2015 confirming that the temporary permitted development right to convert office premises to residential, subject to local authority prior approval of specified matters, is to become permanent.  This was originally introduced as a temporary permitted development right in May 2013 and was due to expire in … Continue Reading

(UK) UK Government Policy Reversal on Small Developments Affordable Housing and the Vacant Building Credit

By Julia Berry and Siobhan Hayes on Posted in Real Estate (UK), Real Estate Development
The recently introduced vacant building credit, and policy exemption for small developments from affordable housing contributions have been swiftly removed from national planning guidance this morning following a High Court ruling on Friday. The policy excluded developments of 10 homes and 1,000 square meters or less, from the requirement to provide or contribute to affordable … Continue Reading

(UK) New Rules for Residential Landlords in Wales

By Siobhan Hayes and Sarah Atkinson on Posted in Real Estate (UK), Real Estate Development, Real Estate Investment
Residential landlords of properties in Wales need to be aware of the extra regulatory burden that applies to them and particularly because breach could be a criminal offence. The Welsh Assembly has added an additional layer of regulations which affect private rented residential property in Wales only and which are expected to come into force … Continue Reading

Knowing How to Quit

By Sarah Atkinson on Posted in Real Estate (UK), Real Estate Development, Real Estate Investment
The Deregulation Act 2015 (the “Act”) is an eclectic mix of legislative tinkering. However, amongst the measures relating to sellers of knitting yarn and trustees of child trust funds are some key provisions that will affect residential landlords. We have already commented in an earlier blog on the provisions contained in the Deregulation Bill intended … Continue Reading

Analysis: Early closure of the ROCs regime ruled lawful

By Jonathan Hewitt, Richard Ceeney and Malcolm Dunn on Posted in Real Estate Development
Summary The Government’s decision to close the Renewables Obligations Certificates (ROC) subsidy scheme for larger solar PV installations (above 5MW) two years early, and the grace periods introduced to mitigate the effects of the closure, were upheld as lawful by the High Court at the end of 2014 after a challenge by solar operators. This … Continue Reading

Please can I have your Autograph Mr Ramsay!

By Stuart Wright and Siobhan Hayes on Posted in Corporate Real Estate, Ownership, Real Estate (UK), Real Estate Development, Real Estate Investment
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

Bright Days for Large Scale Solar Operators; Sunstroke for the Smaller Players: Latest News on CfDs

By Jonathan Hewitt, Richard Ceeney and Malcolm Dunn on Posted in Real Estate (UK), Real Estate Development, Real Estate Investment
National Grid has made its decisions as to eligibility for participation in the first Contracts for Difference auction but the auction process itself has been delayed as some applicants have asked Ofgem to review National Grid’s decisions. However, the Secretary of State for Energy and Climate Change, Ed Davey, by letter, assured the Select Committee … Continue Reading
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