EG 3-09-20

Sorry for delay -‘ stuff’ getting in the way!

Interesting Logistics supplement - its definitely where the smart money is going. Amazon is on an impressive global 50% expansion journey - with a 40% increase in sales in Q2 2020!

P.36 Right to Manage procedures and the changes proposed by the Law Commission. Useful explanation of the current process. The notices are crucial and Eastern Pyramid Group v Spire House RTM [2020] UKUT 0199 concerned a disputed notice, usually such notices are carefully considered by Ls for alleged defects. Worth reading for the nightmare of bad notice allegations that are possible.

P. 39 Commonhold v Leasehold. A useful comparison the two. Will the dead duck be resurrected in a more useful form? Personally I doubt very much that lenders and builders will care enough and buyers ‘just want the keys’ so don’t care.

P.40 The new Code for Leasing Business premises landed 1st Sept 20, and is mandatory on surveyors now as it is a RICS professional statement. Worth reading as it looks at the probable consequences of its new status - on practice etc

P.42 Look at the different changes in planning that apply in Scotland. Notably the recent use classes changes in England don’t apply to Scotland, which has 11 use classes, very limited PD rights

P.43 How can Ls increase cashflow? A warning about turnover rents, which can be a minefield of negotiation and monitoring. Outlines some of the usual problems like retail returns, web sales. Also will banks take enforcement action against Ls who are in breach of their lending covenants? Overseas investors are not subject to the FCAs pressure not to take action. Evict and resulting empty properties have their own issues

P.44 Telecoms code case, one on length of term ordered on a statutory renewal lease (court ordered 10 yr term with break on 5th anniversary and annually thereafter on 6 months notice, conditional on all rent paid and no material breach BUT T wound have to give VP! The rent was £5,740 in place of the old rent of £10k.

P.45 Gaga saga - EMI v Prudential [2020] EWHC 2061. A case and drafting specific case held the GAGA survived, ie the guarantee by the original guarantor of the outgoing tenant’s AGA was not construed as meaning a potential guarantee of future tenants, (which would not be enforceable).

RSS Feed 

This site uses cookies. But unlike WhatsApp, Facebook and the rest we don't trawl your phone and PC for your personal data and sell it to advertisers!