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Monthly Archive: March 2015

First time Buyer confuses about property transactions – Conveyancers

The idea came out of the British Property Federation/Land Securities break-out session at John Prescott’s Urban Summit which involved a role play between Councilor Dame Sally Powell of Hammersmith & Fulham Borough Council, Land Securities’ Chief Executive, Ian Henderson, David Hunter of Aberdeen Property Investors and Roger Madelin of Argent.

Dame Sally was so enthusiastic about the value of the role play, and what it could teach planning committees about development economics and the way in which property investors and developers work, at the BPF decided to try and build a more lasting training aid. With the support of the LGA and IDeA, a project was established and the new training module* was formally launched at the National Planning Forum’s conference at Kensington Town Hall on 2nd March.

 

This has now been confirmed as it has come to light that in the Budget document ‘Flexibility in the Economy’, the Government states that there will follow a consultation on possible measures to promote flexibility in the commercial property lease market. The property industry is rightly very disappointed. with surveyors/lawyers and without any input at this stage from occupiers, landlords or financiers of property.

A lot of the disagreement and misunderstandings between developers and councils arise because neither side speaks the others’ language. Councils think developers are ignoring local needs; developers think councils are making wholly unreasonable demands that could ruin the financial viability of a project. This exciting training module allows participants to get inside a real development – to understand the finances, to learn some of the jargon and, best of all, to appreciate what drives the investors and developers.

This is no basis on which to launch such an important consultation exercise and, in such inauspicious circumstances, will not leave the industry with a great deal of confidence in the process. However, the consultation paper is likely to consider property’s important contribution to the UK economy and Liz Peace said: Enact Conveyancing Adelaide make your process of buying and selling houses to a much normal extent and make the process conduction level to a successful level and conduct the conveyancing process in such a way that no problem should occur in the whole process.

Councils, communities, LSPs or developers who are interested in running the training module should contact Ian Bottrill at Contain You. Might use the opportunity of the interim review of the Commercial Lease Code to launch a consultation exercise on commercial property leases.

Cool Off If You’ve Made a Wrong HomeBuying Decision in NSW

There is much in this Consultation Document that is sensible and it would be a pity if that was overshadowed by the proposed treatment of unrealized gains. The average time period until the first break clause in aahe average time period until the first break clause in a lease across all sectors, has fallen from 11.3 years in 1992 to 4.6 years today.

In its formal response to Government, the BPF has expressed concern at the suggestion that unrealized gains should be taxed, which would affect the quoted property companies more seriously than any other element of business. By difference, an expert property conveyancing firm will be a more indifferent experience and you may not generally recognize what is going on for instance, it is not unprecedented to hear nothing from the property conveyancing firm for a considerable length of time and after that to abruptly be educated that a moving in date has been concurred.

As an industry we need to prove that we are listening, and by adopting and promoting the Code to our customers we can go a long way to making sure that they are aware of the range of lease options that are available.The BPF is not leaving anything to chance and today is also launching its own package of measures, which help support the Code: The BPF is also asking its members to register their support for the Code on its website.

Which is the Government’s aspiration? However, we should not be relying on market trends alone Our members must be proactive in publicizing the Code to their customers and in being prepared to offer a variety of other options to meet customers’ varying needs. The measures we are launching today illustrate the BPF’s firm commitment to the success of the Code.

Contrary to some perceptions, the Code does not ban Upward Only Rent Reviews, but does place an onus on the industry to be prepared to offer choice and an onus on tenants to explore alternatives and set some parameters for the choices they want to consider. This week sees the launch of a unique example of co-operation between the public and private sector aimed at improving the way in which the planning system works through enhanced councilor and officer understanding of the development process.

The initiative, known as FUR (Financing the Urban Renaissance), is based around a novel training module which involves a whole day simulation exercise in which councilors and officers act out the negotiation process involved in getting a complex, mixed use regeneration project off the ground.John Bywater, Managing Director of Hammerson UK Properties Plc and Chairman of the BPF working party that put together its support package added.

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