Almost exactly a year ago we posted a blog on the High Court case of London Tara Hotel Limited v Kensington Close Hotel Limited, where it was decided that a personal licence to use a roadway granted to the previous owner of the Kensington Close Hotel did not prevent the current owner from acquiring an … Continue Reading
We have previously posted on the impact of the 2009 Goldacre case (Goldacre (Offices) Limited v Nortel Networks UK which ruled that landlords of tenants in administration are able to claim rent as an expense of the administration when the administrators use leasehold property for the benefit of the tenant’s creditors. Is this really as … Continue Reading
This post was also written by Annette Beresford. Next year could bring some interesting changes for non-UK domiciled developers and investors in UK property. Businesses that undertake the development of commercial or residential property or the letting of commercial property may gain the tax-free use of offshore income and gains in the UK. The Government is consulting … Continue Reading
This post was also written by Jon Pike and Richard Perkins. Last spring we posted on the difficulties facing landlords and tenants as a result of the High Court decision in Good Harvest. Yesterday we had some good news as the Court of Appeal has reconsidered the point and introduced some commercial common sense into the law.… Continue Reading
Property investors have been happy working with minimal regulatory control for property investments using limited partnerships, unit trusts and companies and both onshore and offshore entities but all that is about to change. The E.U.’s Alternative Investment Fund Managers Directive (AIFMD) has been staggering through the E.U. regulatory process and is expected to be published a … Continue Reading
We have posted previously on the difficulties of operating break clauses effectively . Today the Court of Appeal (in a case where we were acting for the landlord) has considered the meaning of a break clause which was conditional on the tenant delivering up with vacant possession.… Continue Reading
Increasing numbers of property developments contain a residential element sold off on long leases and a commercial element let on market rent terms. Those used to managing commercial leases may not realise how highly regulated the collection of residential rent and service charge is – Recent regulations have now revised the form of demand to be … Continue Reading
This post was also written by Marjorie Holmes. We have seen our first court ruling on competition law issues in a lease renewal case and this is news given the uncertainties the real estate world is facing from 6 April 2011 when competition law starts to apply in full to all real estate transactions. The … Continue Reading
This post was also written by Harriet Morgan. From 6 April 2011, residential property with a consideration of over £1m will be subject to a higher SDLT rate of 5%. This means that a purchaser whose transaction will complete on or after 6 April 2011 will find themselves paying more SDLT than if completion had … Continue Reading
This January saw yet another case on break notices reminding all of us how careful both landlords and tenants need to be when leases are being brought to an end. In this case the landlord’s managing agents will be wishing that they had said less.… Continue Reading
This post was also written by George Brown Looking back at our original blog and subsequent update on the Bribery Bill, you may be forgiven for wondering when on earth the promised guidance from the Government will be published. The Ministry of Justice consulted on the draft guidance between September and 8 November last year. … Continue Reading
This post was also written by Philip Olmer and Marjorie Holmes. From the time the UK joined the EEC, sections of UK industry have had to grapple with European competition law requirements on anti competitive and monopolistic behaviour. In terms of real estate, competition law had really only affected public sector procurement projects and certain monopolistic businesses … Continue Reading
A recent case in the High Court, London Tara Hotel Limited v Kensington Close Hotel Limited, underlines the importance of careful management and monitoring of property interests, especially when rights are granted by licence, to avoid the accidental grant of easements in perpetuity.… Continue Reading
In January we posted on the impact of a case that ruled that landlords are able to claim rent as an expense of the administration when a tenant’s administrators are in occupation of all or part of a leasehold property. In another win for a landlord, the Court ruled that rent can be claimed as … Continue Reading
This post was also written by Philip Olmer. There have been numerous press reports about the Coalition Government’s intention to axe many of the quangos created by former Labour administrations as part of the Government’s effort to reduce the country’s deficit. Recent articles have speculated that up to 200 of these quangos will be axed … Continue Reading
This post was also written by Philip Olmer and Alex Heaton. Earlier this year we wrote about the impact of the Good Harvest case (Good Harvest Partnership LLP v Centaur Services Limited), both from the perspective of the landlord and of the tenant . Much of the commentary from the spring of this year was advising … Continue Reading
Break clauses are often incorporated into leases as a way for the tenant and occasionally, but less frequently, the landlord to maintain flexibility. In the present market they are often exercised by tenants. But exercising break rights and even the clauses can cause problems for the unwary tenant and great care must be taken to … Continue Reading
The ability of landlords to recover the costs of taking action against tenants for dilapidations or indeed any breach of covenant can be fraught. Far from being an automatic entitlement, it will depend upon the wording of the lease. Costs clauses in leases are many and varied – some rather better than others.… Continue Reading
In earlier postings on our environmental update blog we have introduced the UK's Carbon Reduction Commitment (Energy Efficiency) Scheme ("CRC"). From 1 April 2010 the CRC Regulations will apply. Property investors, even those who fall outside the CRC themselves, will have to supply their buyers with information on their buildings' carbon emissions. Lack of information could wreck the timetable for the deal.
This posting is designed to give you a brief idea of what you will need to disclose on the sale of an investment property once the CRC comes into force on 1st April this year.… Continue Reading
A decision by the High Court on the liability of a guarantor has just been published and is already causing concern and consternation in the market.… Continue Reading
This post was also written by Mark Hargreaves. Following on from our original blog on the Bribery Bill there have been some changes to the Bill during its speedy passage through Parliament. We have no doubt that this Bill will be enacted before the General Election. Agents, investors and developers do need to be aware … Continue Reading
This post was also written by Clare Whitaker. A decision by the High Court in December has strengthened the position of landlords who sometimes do not get paid during the administration even where the administrator is running the business from the property.… Continue Reading
Every Tenant’s worst nightmare is to miss a break date in a Lease of unwanted space! With rental demand currently weak, Landlords are likely to take any technical point they can to defeat a Tenant’s break notice and the rental void it would trigger. Often the decision to serve break notices is left until close … Continue Reading
This post was also written by Clare Whitaker. We have spent a lot of time thinking about landlords being affected by tenants going into administration over the last year. This posting is about a court case where the landlord’s administrators were trying to postpone the tenant’s application to Court for the grant of a new … Continue Reading