Real estate - Updates

Retail travel: An opportunity for growth

Travel locations, such as airports and train stations, are one part of the retail sector which has held up relatively well during the economic downturn.

Further twists to service charge consultation

In the recent case of Daejan Investments Ltd v Benson [2013], the Supreme Court granted a landlord dispensation from service charge consultation requirements, overturning the decisions of the Leasehold Valuation Tribunal (LVT) and the Court of Appeal.

Property owners are at risk if Land Registry addresses are out-of-date

The Land Registry requires an address for service for owners of certain interests in land. Most significantly, it requires an address for service for any owner of registered land or of a charge over it.

Enterprise and Regulatory Reform Act: Changes to heritage planning

Significant changes to the law concerning Listed Buildings and Conservation Areas are set to be made under the Enterprise and Regulatory Reform Act, which received Royal Assent on 25 April.

Partner hire brings 21 years' real estate experience

A new partner at Shoosmiths has brought with him 21 years' real estate experience.

Interim Rent Guide

Interim rent is a source of confusion for landlords, tenants and practitioners alike. Our team deals with hundreds of lease renewals each year, and this short guide deals with some of the more frequently asked questions.

CPR Reform: How Jackson will impact lease renewal proceedings

The 'Jackson Reforms' herald a new era in the management of and procedure for civil litigation.

Commercial leases: the pitfalls of forfeiture

Forfeiture is a common and cost-effective method of terminating commercial leases, but is not always the best course of action.

Redevelopment Break Clauses

If a landlord is considering redeveloping premises but cannot yet make out the redevelopment statutory ground of opposition set out in section 30(1)(f) of the Landlord and Tenant Act 1954, all is not lost - a redevelopment break clause could be an option

Budget 2013: Government looks again at housing supply

In his March 2013 Budget statement, the Chancellor has announced various measures targeted at promoting growth and addressing some of the structural issues with housing supply and accessibility.

Simplification of outline planning applications

The Government has continued its measures to streamline the planning process with the publication of the Town and Country (Development Management Procedure) (England) (Amendment No 3) Order 2012 (DMPO), which came into effect on 31 January 2013.

Exclusion of mines and minerals: the considerations

Reservations of mines and minerals have come into sharp focus over the last year, and pose a new challenge for developers.

Stamp Duty Land Tax: Finance Bill 2013 - Recent Developments

This article summarises the main changes proposed in the draft clauses of the Finance Bill 2013, with particular reference to the transfer of rights (sub-sale) rules.

Misconceptions in relation to Chancel Repair

There are some common misconceptions about chancel repair liability. Here, we seek to clarify two of them.

Fast work as Shoosmiths completes multi-million pound office sale

Shoosmiths real estate specialists have advised on the multi-million pound sale and leaseback of a client's multi-let freehold office building.

CIH Scotland Annual Conference and Exhibition 2013

The social housing team from Shoosmiths' Edinburgh office will be exhibiting at the Chartered Institute of Housing Annual Conference and Exhibition, at Glasgow's SECC, from 12-14 March.

New UK Timber Regulations

New UK regulations come into force on 3 March 2013 to enforce the EU Timber Regulations.

High and dry? Flooding and uninsured risks

The Statement of Principles on the Provision of Flood Insurance was last renewed by the Government and the Association of British Insurers (ABI) in July 2008.

Shoosmiths on Government Procurement Service Legal Services Framework Agreement

Shoosmiths has been appointed to the Government Procurement Service Legal Services framework agreement.

Break conditions in a lease: no Court of Appeal ruling on strict compliance

It has been reported in the legal press that the parties in Avocet Industrial Estates LLP v Merol Ltd and another [2011] have reached an agreement in court.

Changes to Energy Performance Regulations

The Energy Performance of Buildings (England and Wales) Regulations 2012 came into force on 9 January 2013, replacing all previous energy performance regulations.

The Green Deal: Should you take advantage?

Funding under the Green Deal will be available for domestic and non-domestic properties from 28 January 2013.

Tenants' right of first refusal: Transfer to a management company

It is well known that the Landlord and Tenant Act 1987 - legislation relating to tenants' right of first refusal - is badly drafted, but developers need to be aware of a lesser known defect affecting flats schemes.

CRC - Government confirms CRC will continue in a simplified form

Record month as housebuilder reservations defy doom mongers

Shoosmiths has recorded its best month for new homes plot sales since the firm started formally recording data nearly nine years ago.

EU Energy Efficiency Directive

The Energy Efficiency Directive 2012 (EED) was brought into force on 4 December 2012. It introduces binding measures for energy efficiency on the public sector and industry and covers the entire energy chain from generation and transmission to end use.

Was O'May butchered at Smithfield?

Lease renewals: Was O'May butchered at Smithfield?

Will an EPC rating of F or G prevent a letting?

There are widespread concerns that from April 2018 it may be unlawful to let residential or commercial properties with an EPC rating of F or G.

Where is CIL today?

The Community Infrastructure Levy (CIL) came into effect with regulations in 2010.

Consultants warned about failure to advise on dangers of relying on letters of intent

The risks to employers of proceeding with construction works whilst relying solely on letters of intent are nothing new.

CLLS Certificate of Title: A welcome seventh edition?

Certificates of Title are used where a buyer or lender does not intend to investigate the title of the property.

Assets of community value: The new village green?

Developers are well aware of the risk of a town or village green application and the delay it can cause to a potential development. The new threat of delay is a bid for an asset of community value (ACV).

Landlords' relief over empty rates ruling

The High Court has held that a tenant's short-term storage of documents using just 0.2% of a warehouse's floor space enabled the owner to successfully claim a period of rates relief once the property became vacant again.

REIT here, right now: New funding opportunities for registered providers?

Funding is high on the agenda for registered providers (RPs). Internal resources, public subsidy and private finance must deliver more with less.

Telecoms equipment: Update

If you are a landowner, agreeing to locate telecommunications apparatus on unused land can be a quick and simple way of generating cash.

TUPE: Service provision change and property transfers

On the sale of investment property it is essential to consider whether the Transfer of Undertaking (Protection of Employment) Regulations 2006 (TUPE) will apply to transfer employment contracts or outsourcing contracts from the seller to the buyer.

Are you ready for sale?

The real estate industry has been encouraged to look again at how transactions can be streamlined.

Shoosmiths team behind a2e's lightning strike

A multi-discipline team from Shoosmiths has helped a Manchester venture capitalist buy a defence and aerospace manufacturer.

Criminal offence of residential squatting a reality

Squatting in residential premises will be a criminal offence from 1 September 2012, giving property owners an alternative means of getting their property back.

London 2012: Sunday trading hours

The usual restrictions on Sunday trading hours have been suspended during the London 2012 Olympic and Paralympic Games.

High value residential development: An update

As discussed in our earlier article, the Government launched an attack in Budget 2012 on high-value residential property and perceived tax avoidance

Agreements conditional on superior landlord's consent

The decision in Rail Safety and Standards Board Ltd v British Telecommunications Ltd [2012] is an important one when considering superior landlord's consent

The uncertainty of endeavour

It is an essential part of negotiating documentation that obligations are assumed by the parties to it

Breaking up is hard to do

The recent case of PCE Investors Limited v Cancer Research UK gives useful clarification on what a tenant must pay when its break right is conditional upon rents being paid up to the break date

LMA publishes form of facility agreement for real estate finance

The Loan Market Association (LMA) has published a form of facility agreement for use in real estate investment finance transactions

Right to Buy changes may affect registered providers

Following recent changes, Preserved Right to Buy (PRTB) claimants may qualify for a significantly higher level of discount, leaving reduced receipts available to registered providers (RPs) to recycle into affordable housing provision

Red Tape Challenge: Proposals to cut environmental legislation

DEFRA has announced the results of its review of environmental legislation, which is part of the Government's wider Red Tape Challenge that aims to reduce the administrative burden on businesses

RoHS Directive 2011: Have you analysed your products?

The RoHS Directive 2002 prohibits producers of electrical and electronic equipment (EEE) from marketing new EEE in the EU that contains more than the prescribed levels of six hazardous substances from 1 July 2006

CRC simplification

A consultation paper containing proposals to simplify the CRC Energy Efficiency Scheme (CRC) was published on 27 March 2012, with the aim of reducing the administrative and regulatory burden on companies obliged to participate in the scheme

Understand EPC changes or risk £5,000 penalty

New regulations affecting buildings' energy performance are due to come into force next month

Recast WEEE and RoHS Directives

With the recast WEEE Directive currently awaiting formal adoption by the European Council, and the RoHS Directive having been recast in July 2011, it is all change for WEEE and RoHS

Revised guidance on contaminated land

Revised statutory guidance in relation to the contaminated land regime has been laid before Parliament, along with regulations amending the definition of when land will be determined as contaminated

Registered providers: How to make portfolio charging quicker and slicker

With reduced grant availability, many registered providers are looking at opportunities to charge, and recharge, existing housing stock to release funds into their business. Time put into the process early on can reap considerable benefits at drawdown

Lease regearing

Against an uncertain economic backdrop, 'regearing' a lease offers a potentially win-win opportunity for a landlord and a tenant to restructure the lease arrangement

Environmental issues for real estate in 2012

Environmental issues continue to move up the political agenda and there is no let up expected in 2012, with several key environmental developments anticipated

Fixed price contracts and unknown development costs

Having to agree a fixed price for land in a contract when there are a number of unknown factors that affect value is a challenge for developers

Change of law on squatters

The Government has bowed to pressure to make squatting at residential premises a criminal offence