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Posted by Peter Foskett, Partner
To read the report from the Competition & Markets Authority (“CMA”) and see that the CMA understands the plight of so many leaseholders and the urgency to address their problems will give much needed comfort to them.
Posted by Peter Foskett, Partner
A question frequently asked by landowners is what is the difference between an option agreement and a promotion agreement? And which should they enter into?
Posted by Peter Foskett, Partner
For landowners who own land with development potential, preventing the creation of public and private rights of way over land by long user is always an issue. Such rights can devalue the development potential, or even make development unrealistic when small sites are concerned.
Posted by Peter Foskett, Partner
Promoters have become an established part of the world of development. By entering into an agreement (known as a Promotion Agreement) with them landowners can use the skill, knowledge and funds of an experienced developer to obtain planning permission for their land, even if not currently earmarked for development.
Posted by James McNeile, Partner
A significant change to the taxation of non-UK residents came into effect on 6 April 2019 which means gains on all UK property* (commercial as well as residential) are subject to UK tax. Gains on disposals by individuals and companies will be within the scope of UK tax. The changes are wide reaching as the rules can apply to direct disposals but also to disposals of shares in property rich companies.
Posted by Andrew Kuemmerle, Trainee Solicitor
Commercial landlords have received some welcome certainty with regards to Brexit. The High Court has ruled that tenants will not be able to use Brexit as an excuse to break their lease.
Posted by Jessica Dutton, Trainee Solicitor
Posted by Richard Roth, Partner
Overage is a common method for sellers to realise increased value for their land where, for example, a planning permission is subsequently obtained for development of the land. Properly drafted, an overage agreement can work for both parties by maximising value for the seller and de-risking potential overpayment by the buyer. However, it is vital that the agreement is clear as to what overage will be payable, on what basis and when. Mistakes can be costly!
Posted by Peter Foskett, Partner
As a landowner, when you enter into a contract with a developer – whether it is an option agreement, promotion agreement, land development agreement or a hybrid of these – you do so in the expectation that they will largely fulfil their obligations without the need to go to law to enforce them. But what if they do not?
Posted by Peter Foskett, Partner
The Retail sector team at Royds Withy King deals with all manner of commercial issues; one of our particular specialisms is acting for well-known retailers in leasing new or alternative premises all over the country. The nature of such lettings raise a number of issues that may need to be dealt with if a retail lease is to be fit for purpose.
Posted by Sarah Goodridge, Senior Associate
The Royal Institute of Chartered Surveyors (RICS) published a consultation on “Code for leasing business premises” which includes a new proposed lease code. The proposed Code will replace the current Code for Leasing Business Premises in England and Wales 2007 which is voluntary. The proposed code contains both mandatory and best practice requirements and there are possible implications for failing to act in accordance with the proposed Code.
Posted by Caroline Preist, Partner
The Pre-Action Protocol for Debt Claims has been in force since 1 October 2017 and sets out rules to follow when any business is claiming payment of a debt from an individual. This covers a debt payable from a tenant to a landlord, whether in respect of rent or other sums due under the lease.
