EG 30-03-1902-04-2019, 19:28
Shopping centre investment plummeted by 90% in Q1! And prices are tumbling
And Philip Green’s Arcadia group (Topshop, Evans, Wallis, Miss Selfridge, DP, Burtons etc. ) is being restructured and is likely to lead to shut shops and slashed rents for landlords!
Furthermore - more than 60% of all new retail scheme proposals have been pushed back to the next decade. And that’s without Brexit..
But some Retail Outlet centres like Lifestyle Outlet’s sites are outperforming the market. But outlet leases expect to have more flexible terms and shorter lengths, turnover rents and a low starting rent, plus themed markets, and leisure offerings
P.44,45. Green Belts - where they are, what the effect is in planning terms. Excellent primer in a tricky subject
P48 Great practical article about what to do if you think your tenant has financial problems and how to deal with its liquidator if there is a subtenant
p. 53 The Assured Tenancy Trap for residential leases. A lot of scaremongering has happened over this in the last few years and the risk of a highish ground rent of over £250pa becoming assured tenancies resulting in a ground 8 lease forfeiture for long residential lease ground rent arrears, with the court having no discretion to refuse making a possession order! Lenders and buyers are edgy about the issue. Excellent if terrifying article about the process and consequences. Govt has promised changes in 2020… but when??
P. 55 Changes in tax - CGT, Corporation Tax, Capital Allowances and SDLT over the last year. Of particular interest is the interaction of the proposed 1% extra SDLT on residential purchasers by overseas investors, the addtiional 3% rateMDR and the non-residential rate.
P. 56 Reforming business rates. Aspirational article about suggested reforms
P. 57 Public procurement processes- how to prevent claims by unsuccessful parties that the contract should be set aside
P. 58 Residential ex council right to buy flat held had to pay a big service charge demand of £25k for its share of the cost of installing a new £800k district heating system as opposed to the cost of a small boiler in each flat!
P.58 Enfranchisement - the tenants were able to serve a notice to buy the freehold of a development of 5 blocks, and a building containing two commercial blocks and a leisure centre, as there was no need for it to limited to the smallest unit possible
P.59 MEES EPCS and residential/tenanted properties & commercial property. Post April 202) for resi rented and post April 2023 for commercial, landlords will either have got their properties over E rating or applied for exemptions. Looks at the consequences for landlords and problem areas such as listed building and lease renewals
P. 60 Music venues can cause actionable nuisance, but in this case described a Deed of Easement for noise was entered into allowing noise to permeate an adjoining site for proposed flats,as long as it did not exceed a set level, which could not therefore result in an action for nuisance from the future occupants of the flats!!
P.61 Right to rent and racial discrimination - this was held to be unlawful by the High Court but is still continuing!