Business rates represent one of the largest costs for businesses occupying commercial properties, many of whom have undoubtedly been acutely affected by the COVID-19 pandemic. With that in mind, the Government announced in its Spending Review that it had decided to freeze the business rates multipliers in 2021/2022, with the intention of benefitting and providing… Read more »
Over the last few months, there has been a significant increase in the number of new instructions received whereby we are being asked to act for clients who are raising funds by refinancing and securing loans against existing properties that they own. This increased demand to raise monies may be caused by any number of… Read more »
In the past, landowners could use public rights of way to provide ‘permissive access’ over the land for the benefit of local residents to use for walking, cycling or horse riding, for example. This was so that it came within Countryside Stewardship Schemes run by Defra and managed by Natural England. Permissive access provided landowners… Read more »
Retail Price Index (RPI) is the oldest measure of inflation in the UK and is used widely across the economy and in financial contracts. However, the means by which it is calculated no longer meets current international statistic standards. This has meant that RPI has not been classed as an official statistic since 2013 because… Read more »
The COVID-19 pandemic has had an enormous impact on most businesses. As for the property sector, the stamp duty holiday appears to have played a part in strengthening the residential property market, which has encouraged many developers to continue to locate strategic sites. Entrepreneurs are closely monitoring distressed assets and, with budgets stretched, investors and… Read more »
Q&A: My father has recently passed and I am the executor of his estate. He had a lot of personal effects, which my relatives are squabbling over. What should I do? These personal effects are called chattels. As executor, it is your duty to collect his personal effects and distribute them to the beneficiaries of the Will…. Read more »
If you are the owner of a flat above a commercial unit, you may be wondering if you could sell the flat to unlock some extra cash. Marina Banks, Commercial Property Solicitor, explains what this process involves and the key points you need to consider. When you own both the commercial unit and residential unit… Read more »
Many economists and politicians are predicting the end of office working and high street retail following the dramatic shift to home working and online shopping this year. Fewer shops and offices may be required in the future as these changes herald permanent shifts in behaviour. New uses will need to be found for some of… Read more »
Ben Thomas, one of our Commercial Property Solicitors, gives an example of how the team recently dealt with creating a commercial lease through a surrender and re-grant despite complex title issues on behalf of a client. Our commercial property team acted for a landlord in the restructuring of an investment property’s tenancy. The client owned… Read more »
James Goddard, Partner, gives an example of how our Commercial Property team dealt with a recent sale of a derelict farm, despite the COVID-19 difficulties. Our Commercial Property team acted in the purchase of a derelict farm for a client and negotiated the terms of an overage agreement. An overage agreement contains an obligation on… Read more »
