Tag Archives: Real Estate (UK)

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

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

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

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

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

(UK) When Is An Emergency Not An Emergency

It is the time of year when the Great British weather batters buildings up and down the country causing signs to fall off some and roofs to cave in! Beware, though, if you are the Landlord or manager of a mixed use building – emergency repairs may cost you more than you think. Section 20 … Continue Reading

(UK) BRING ME SUNSHINE: UK Government Reviewing Support For Renewable Projects From The Renewable Obligation Scheme

The solar industry has experienced further recent upheaval as the Government is again reviewing the support it gives for renewable projects from the Renewables Obligation Scheme. The initial intention was that there would be a gradual transition for renewable projects to new Contracts for Difference up until March 2017. However, at the start of this … Continue Reading

(UK) Lease Guarantees: An Update

This post was written by Stuart Wright and Siobhan Hayes When tenants offer landlords guarantees of their lease liabilities landlords need to take care what assignment rights the tenant can have and this was demonstrated in last week’s Court of Appeal decision in Tindall Cobham 1 Ltd v Adda Hotels. As you may recall, prior … Continue Reading

(UK) Non Residents to pay CGT on UK Residential Properties

Our tax team has written a Client Alert on the extension of UK CGT to gains arising from the disposal of UK residential property after April 2015 by non-resident individuals and entities. This will extend UK CGT beyond its current scope: historically, non-UK resident individuals and companies disposing of UK property were not subject to … Continue Reading

(UK) Tenants Break Rights

This post was written by Lynsey Ellard and Siobhan Hayes There has been much commentary in the property press over the last few days reporting on the eagerly anticipated outcome of BNP Paribas’ appeal against the High Court’s ruling last year that allowed M&S (BNP’s tenant) to recover £1.1m of rent and other charges after … Continue Reading

(UK) The capital allowances pooling and fixed value requirements – don’t lose out!

We have seen a number of articles that refer to the risk of unclaimed capital allowances being lost as a result of the new capital allowances rules. It is estimated that there is over a billion pounds of unclaimed capital allowances in the UK. The concern is that any such unclaimed allowances could be lost … 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

(UK) Planning Update

There have been a number of minor legislative changes recently, which we felt cumulatively merited a new post. Planning Fees These must now be refunded if applications have not been determined within 26 weeks (including the time taken to complete any s106 agreement!) unless a longer time period is specifically agreed. This applies to all … Continue Reading

(UK) Chancel Repair Liability

We know that over the last ten years many of our clients have had to grapple with the issue of chancel repair liability risks arising in their transactions. We know that some clients (often those a owning large amount of property) take the risk on and some (often required by their lenders) have taken out … Continue Reading

(UK) Common Land/Village Green Update – June 2013

Recent news on skateboarders applying to register the Southbank undercroft as a village green (frustrating redevelopment plans if they do) and the recent registration of a beach as common land show how unlikely areas used for recreation can gain legal protection. Here we update on the most recent cases – the trend of decisions favouring … Continue Reading

(UK) Dilapidations claims and the impecunious landlord

This post was written by Katherine Campbell. Some positive news for landlords this week: The court has confirmed that, even where an outdated property stands little or no chance of being re-let following a tenant’s departure, a claim for the loss in reversionary value caused by the breach of the tenant’s repairing covenants is still … Continue Reading
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