PropertyLaw.guru Blog

EG 26-10-19

p.22 WeWork bailed out! (but I read elsewhere that unless they get their house in order they will burn through the new funding in a year or so). Comment that they were looking for a 15 month rent free on an 8 year lease and a £50psqft landlord’s contribution to fit out, plus L had to use *their* standard lease, non-negotiable! Cheek!p.29 Build to Rent sector grows 20% in a year! Plus more on that
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EG 19-10-19

P.21 UK resi rents rise at fastest rate in 3 yrs!p.35 > News from talks at the recent MPIM UK event - Brexit etcp.46 Mainly for Students article giving an outline of contract law  & other jurisdictionsp.57 Legal issues for landlords regarding use of drones by occupiers or future drone ports!p.59 Can a landlord vary the tenants absolute covenants in one lease (e.g. not to keep pets) , and
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EG Auction Buyer's Guide Autumn 2019

All property lawyers should read this to keep them up to date in the market and auctions. Clients may also find it useful, and you can get extra copies from EGArticles on:p.48 Telecommunications code and the effect on ownersp.50 Commercial rent deposits. Must read article on how to deal with them on a salep.52 Where are we on the leasehold reform proposalsp.57 Tenant Fees Act. What Ls have to doAlso-Private
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EG 12-10-19

P.57 Interview with Joanne Wicks QC about her career at the property bar (she acted for the tenant in Franses and also the landlord in the EMA lease frustration case)p.60. Professional negligence in property transactions. There have been £1BN neg claims against property lawyers in the last 10 years. Poor service, not maintaining standards, focus on profitability rather than client service,
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EG 05-10-19

P.107 Debenhams decision and CVAs. What does it mean for landlords? In such CVAs the landlords suffer a rent reduction but other trade creditors get paid in full. The decision held that landlords were creditors in relation to future rent, that compromising future rent was not unfair prejudice, that the right to forfeiture cannot be altered by a CVA, that reducing rent was justified to protect the business,
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WeWork or WeGoBust?

We Won't - Will the biggest non-govt occupier on office space in London go bust in the next 6 months, making the Arcadia group/Debenhams look like a side show? Read this guardian article (esp the eyebrow raising 2nd half . If WeWork were to go bust, its landlords will struggle to collect the promised lease payments they are owed. That could leave property companies struggling to pay their bank
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EG 28-09-19

P.51 Reviews the Law Commission’s proposals on electronic signatures, published on 4-9-19. Notably this does NOT include registered land dispositions which is a separate issue. There are 3 types of electronic signatures proposed, and there are different effects on contracts, s.2 contracts (land) and deeds. This is all years off, but worth being aware of. P.53 SDLT reforms in the winds?? An article
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EG 21-09-19

P.24 Microflats denouement? Article looking at the rise and fall of micro flats of sometimes 13sqm! A lot are either unsold and risk negative equity. Don’t buy…unless you want to lie in bed, cook a meal and wash your hair - all at the same time..P.51 CVA part 2 - a very brainy discussion on how a landlord might be able to  challenge a tenant’s CVA (topical as Mike Ashley’s attempt to challenge
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Fixtures and fishings (and (f)otovoltaic panels...)

Borwick Development Solutions Ltd v Clear Water Fisheries Ltd [2019] EWHC 2272 (Ch) (24 September 2019)  Great case report from PLC - Buyer of fishery from an LPA receiver found that he did get the photovoltaic panels but didn’t get the fish as they were wild animals and didn’t pass with the land!!B had owned a commercial fishery, which included nine man-made
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EG 14-09-19

P.51 Company Voluntary Arrangements CVAs are a nightmare for landlords who find that their rent is reduced or their leases handed back and there’s nothing they can do. Must read article fro anyone dealing with L&T. Looks at what the process is, what CVAs can and cannot contain, the option of the landlord to accept the reduced rent or accept the property back and release the tenant from all liabilities
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