16 October 2014
Rent Act tenants and vacant possession – the key to unlocking development potential
As a property advisor in the midst of a London property market bursting with redevelopment potential and a shortage of residential stock for both investors and occupiers alike, a noticeable trend has arisen in the firm’s work, as more and more of our clients are seeking to take advantage of the opportunities to redevelop existing buildings, whether these buildings are vacant or have tenants in situ.
22 September 2014
The Immigration Act 2014 - private landlords to check on tenants' immigration status
The Immigration Act 2014, which received royal assent on 14 May, requires private landlords of residential properties to keep a regular check on the immigration status of their prospective tenants, and other authorised occupiers. Landlords must also make sure that someone’s right to occupy the property does not lapse. Failure to comply could lead to a civil penalty of up to £3,000.
10 September 2014
Beware of Mayoral Community Infrastructure Levy (“CIL”)
We were recently instructed to act on the purchase of a residential development site in the London Borough of Greenwich. Surprisingly the consented site was not subject to any planning obligations under a Section 106 Agreement. Nor was it subject to any CIL, because Greenwich London Borough Council is currently (as at August 2014) consulting on its draft charging schedule and therefore no Borough CIL is payable.
22 May 2014
Break clauses breaking the bank?
The anticipated appeal of the High Court’s decision in Marks and Spencer plc (“M&S”) v BNP Paribas Securities Services Trust Company (Jersey) Ltd (“BNP Paribas”) was heard by the Court of Appeal on 25 March 2014.
25 March 2014
The budget and its effect on purchases of residential properties for UK and foreign investors
Last week, the Chancellor made some important announcements concerning Stamp Duty Land Tax (SDLT) and Annual Tax on Enveloped Dwellings (ATED) which may impact on how a residential property is purchased and held and may act as a deterrent to overseas nationals investing in UK property in particular.