Archives: Real Estate Investment

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BloggeRS: Eva Lai ‘Proposal for new Chinese investment rules – Is UK property investment still attractive?’

Reports suggest that China proposes to impose greater monitoring of large outbound investments and potentially block state-owned enterprises from purchasing overseas property with a value of more than US$1bn in a single transaction. Additionally, permission may be required for the transfer of funds over US$5m. The previous threshold was US$50m. It is likely that more … Continue Reading

BloggeRS: Introducing Eva Lai ‘Mastering the art of “guanxi” for Chinese outbound investments’

As many of you are aware when doing business with Chinese investors you will need to come to terms with “Guanxi” – meaning relationships or connections outside the family. This is the core of Chinese society and culture. It is important for the Chinese to get to know the person with whom they wish to … Continue Reading

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

(UK) Welsh Residential Private Rented Sector – Key New Regulations in Force

As we mentioned in an earlier post Regulations for dealing with private rented housing in Wales are increasing. From 23 November 2016 all properties need to be registered and anybody undertaking, letting or management work has to go further and be licensed. FOR FURTHER DETAILS CONTINUE READING 1. Registration by all landlords Why register? The Welsh … Continue Reading

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

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

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

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

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

Recovering Possession of Abandoned Residential Property

The headline news from the Housing and Planning Act 2016 (the ‘Housing and Planning Act’) makes it look as though there is a good new solution to enable residential landlords to get their property back in their control when it has been abandoned.  In practice it contains a number of provisions that serve only to … Continue Reading

That Sinking Feeling

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

The sky’s the limit…

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

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

More UK Residential Property for the IHT Net

The headline-grabbing inheritance tax (IHT) news from last week’s Budget was the introduction, from April 2017, of an additional nil rate band when a residence is passed on death to direct descendants. However this is only one part of the changes that were announced in relation to IHT and residential property, as significant changes were … Continue Reading

(UK) New Rules for Residential Landlords in Wales

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
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