The Court of Appeal last week handed down its ruling in the case of Dreamvar v Mishcon de Reya. The impact for the industry and profession is potentially huge – will it lead to a complete overhaul of the way property lawyers deal with purchase money?
Dentists, chiropractors, accountants and other professionals who own the premises from which they operate could benefit substantially from making their commercial premises an asset of their Self-Invested Personal Pension (SIPP).
In almost every aspect of life we all like to get a good deal. It is no different with commercial rent. Landlords and Tenants alike, both parties will be keen to maximise their profits and minimise their risks, which is why rent reviews are a particularly fundamental and heavily negotiated contract term. Essentially both parties want entirely the opposite from the other.
As a Chelsea fan, I had assumed that the likes of Manchester United and Manchester City would prove to be my team’s most formidable opponents this season. However, a family of four have sought to scupper Chelsea’s plans and in doing so, have demonstrated that rights to light remain an important consideration and a potentially expensive hurdle.