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Asset Management of Commercial Property

We assist a number of clients with the day to day asset management of their portfolios. This includes:

  1. the grant of leases whether inside or outside of the security of tenure provisions of the Landlord and Tenant Act 1954
  2. redevelopment of buildings on the relevant estate
  3. reviewing and advising on heads of terms
  4. collateral security (rent deposits, guarantors etc.) on any new letting
  5. title issues relating to the sites and wider regeneration considerations;
  6. day to day management including alienation or alteration provisions within a lease or filling void space with temporary occupiers, etc.

Latest blogs & news

VAT Essentials – Putting the Value in Added Tax

Whether you are taking the big step of buying or renting your first commercial property, purchasing a development site, adding to your buy to let portfolio or purchasing your new home, understanding Value Added Tax (VAT) is an essential part of the world of real estate.

Spring Budget analysis: changes to Empty Property Relief will put further financial pressure on landlords.

In the Spring Budget, the Chancellor announced that from 1 April 2024, business premises must be re-occupied for at least 13 weeks rather than 6 weeks in order to qualify for a further period of empty rates relief when that period of occupation ends.

Key considerations for negotiating a commercial property lease in the UK: A comprehensive guide to heads of terms

In this comprehensive guide to negotiating a commercial property lease in the UK, property lawyer Matthew Copeland and commercial property estate agent James Forster, provide invaluable insights into the crucial document known as "heads of terms." With their combined expertise, they shed light on the key considerations that landlords and tenants must address before finalising a lease agreement.

Renters Reform Bill: New landlord database to expose tax mishandling

The Renters Reform Bill threatens the creation of a new landlord database, exposing those landlords who may have (perhaps inadvertently) incorrectly handled their tax affairs.

Long live our new King, long may he reign (over your property)

Aside from the £330m the Guardian has estimated King Charles owns in private property, did you know the Crown could ultimately take ownership of your property.

Renting Homes (Wales) Act 2016 – the new regime for ASTs in Wales

The type of tenancy and the rules for renting a home in Wales changed with the implementation of the Renting Homes (Wales) Act 2016 (‘The Act’) which came into force on 1 December 2022.  The Act aims to improve the security of tenure for tenants and make it easier for them to rent but it could be perilous for landlords and they must ensure that they familiarise themselves with its requirements. The Act introduces standardised terms to all contracts.

Biodiversity Net Gain: friend or foe?

The 10% mandatory Biodiversity Net Gain (BNG) requirement for new developments is fast approaching.  Defra (Department for Environment, Food and Rural Affairs) confirmed last week that enforcement is expected to commence from November 2023. Whilst some of the detail is awaited in secondary legislation, the ongoing consultation period has revealed how this might affect developers in practice.

Update on the requirements on commercial landlords to meet the minimum Energy Efficiency Standards

As of 1 April 2023, commercial landlords will need to make sure their property has an Energy Performance Certificate (EPC) rating of at least E or face possible penalties. The government estimates that in order to meet this standard the percentage of commercial properties in the UK that will need to be upgraded will increase from around 10% to around 85%.

Supreme Court and service charge certificates - pay now, argue later

In the case of Sara and Hossein Asset Holdings Ltd v Blacks Outdoor Retail Ltd the Supreme Court upheld by a 4:1 majority the Landlord’s claim for unpaid service charge and that the service charge certificate was conclusive as to the sum following certification that the Tenant was liable to pay. However despite the lease having a set-off provision prohibiting any right to set-off or counterclaim, the Supreme Court held that Blacks/the tenant was not entitled to withhold payment but such wording did not prevent the tenant’s right to dispute the service charge bill and if necessary seek repayment - its purpose was solely to prevent the Tenant from withholding payment.

SDLT - Black and White, or (50) Shades of Grey?

Matt Spencer and Charlotte Jeanroy published in ThoughtLeaders4 Private Client Tax Magazine discussing Stamp Duty Land Tax (SDLT).

The importance of obtaining gas safety certificates before any AST is created

If a landlord did not obtain a GSC prior to the commencement of the tenancy the position is irremediable and the landlord cannot serve a s.21 notice to end the tenancy.

Top Tips for Commercial Landlords as Pandemic Restrictions Ease on Rent Arrears

Under s.82 of the Coronavirus Act 2020, a moratorium has been imposed on all landlords in England who have been prevented form forfeiting commercial leases on grounds of arrears with effect from 26 March 2020. Those restrictions are currently due to come to an end on 25 March 2022.

Save the Date - Energy Performance Certificate (EPC) regulation changes for commercial property on the horizon

As you’ll be aware from some of our previous articles, energy efficiency is a hot topic in the property world, and more changes are on their way regarding the minimum energy efficiency standards (MEES) for commercial properties in the UK.

The future of the City: An insight into the effect of coronavirus on commercial tenants

On 16 March 2020 Number 10 advised those living in the UK against “non-essential travel” in order to curb the growing outbreak of Coronavirus. This encouraged many office-based businesses to communicate to their employees that they should work from home until further notice. 

COVID-19 and Covenant Breaches in Leases and Loan Facilities

As the June quarter date fast approaches and the economic impact of COVID-19 begins to be felt across all sectors, what steps should landlords be taking to vary their lease arrangements with tenants who are unable to meet their rental obligations, and could a reduction in rental income due to COVID-19 put landlords in breach of their own obligations under their loan facilities?

Property adjustments required to ensure a safe return to work: Employment and Property law insights

As the UK eases its lock-down measures, employers need to start planning a safe return to work for staff.  In the short-term, this means providing a ‘COVID-19 secure’ environment, enabling staff to maintain social distancing whilst attending work.  

The Coronavirus Act 2020 – The moratorium on forfeiture explained

The restrictions imposed by the UK Government to help fight the spread of coronavirus have hit thousands of businesses over the last few weeks. An Office for National Statistics survey found that 25% of businesses had temporarily closed or paused trading in the UK, based on answers of over 5,000 businesses surveyed.

Minimum energy efficiency standards – B (or C) prepared

That is because following its recent consultation, the government has announced that it will soon become unlawful to continue to let a non-domestic property with an EPC rating below B, a move that the government estimates could cost approximately £5bn between now and 2030.  

Considering renting out spare office space?

Though it may be tempting to earn extra revenue by renting out the spare desk in the corner of your office, Lauren Hart explains that there are necessary precautions to take.

The NeverEnding (Lease) Story: how poor drafting can create a 2000 year mistake

Imagine this scenario.  You own a site which is ripe for development in a few years. There are a number of tenants who still have leases which don’t expire for between two to three years, which fits in with your development timetable.  There was one vacant floor last year but you agreed to let that to a new small business tenant on a one year lease and since that tenant said they may want to stay longer, you agreed that they could have a right in their lease to renew for another year.  You agreed a low rent as it was such a short term and saved you the business rates.  You didn’t want to bother with solicitors so your agent just issued your standard short term lease and after a couple of amendments from the tenant, this was completed in a couple of days.

Asset Management of Commercial Property Insights

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Blogs

Property Fraud – What to Look Out For

Save the Date - Energy Performance Certificate (EPC) regulation changes for commercial property on the horizon

COVID-19 and Covenant Breaches in Leases and Loan Facilities

Conveyancing in a time of COVID-19: Can I still exchange contracts on my property?

Minimum energy efficiency standards – B (or C) prepared

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