In a move which has shocked the property industry, the government has extended the ban on commercial lease forfeiture again, this time for a further nine months to 25 March 2022. Commercial Rent Arrears Recovery is similarly deferred, with tenants having to have built up 554 days of unpaid rent before landlords are able to … Continue Reading
Hair salon chain Regis’s company voluntary arrangement (CVA) was revoked on 17 May in a hearing that considered several arguments put forward by a number of landlords. The judge found that one of the creditors had been incorrectly categorised by the nominees as critical, and that this treatment unfairly prejudiced the landlords. On that ground … Continue Reading
The RICS Professional Statement on Service Charges in Commercial Property (the Professional Statement) comes into force for service charge periods commencing on or after 1 April 2019. What is it and why should we take notice? Unlike previous codes of practice on service charges, this one has been published as a professional statement, meaning it … Continue Reading
Landlords take note, on the back of a recent case, you face an increased risk that tenants will challenge costs which they are responsible for in a lease. The case in question related to tenants’ challenge of insurance costs the Tribunal found in favour of the tenants, because the costs incurred were considered to be … Continue Reading
The case of No.1 West India Quay (Residential) Ltd v East Tower Apartments Ltd surprised the legal profession in 2016 when the court held that one bad reason for refusing consent to assign a lease effectively trumped two other good reasons, making the landlord’s refusal unreasonable. This decision provides some welcome pragmatism for landlords, residential … Continue Reading
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? 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
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