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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.

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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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Provide for a higher cap to apply to any contract to purchase together 6 or more separate dwellings situation in disadvantaged areas; and The European Commission has now announced that the UK stamp duty exemption is in line the government will now be putting place the necessary regulations to implement the measure by Budget Day and will be issuing guidance in due course.

We at conveyancing solicitors brisbane northside Shoppers are a national conveyancing focus with skill in giving private and business conveyancing. It has also prevented direct property investment products being made available to ordinary private investors, resulting in only sophisticated investors and high net worth individuals being able to invest directly in commercial property, through off-shore property investment vehicles.

The British Property Federation has responded to the Pensions Green Paper, issued today by the Department of Work and Pensions (DWP), Recent research conducted for the BPF by the Investment Property Databank (IPD) evils that the proportion of pensions assets invested directly in property amounts to just 7.25% of total pension assets (£84 billion).

Achieving higher returns than UK equities, overseas equities, gilts and cash. The BPF believes that the present taxation regime (Capital Gains, Corporation Tax and Stamp Duty) limits liquidity in the UK commercial property sector, making it less attractive to pension funds. The BPF believes that the Government would be giving all UK citizens the right to invest directly in commercial property as a means of balancing their investment and pension portfolio.

Moreover, such action would significantly increase the level of property transactions, providing a stimulus to this important segment of the UK economy, and would improve liquidity in the commercial property sector making it even more attractive to all investors.

And we hope that the Government will seize the opportunity presented by this pensions review to redress the balance and increase investor choice. Tax efficient property investment trusts already exist in most other countries with a developed commercial property sector including the US, Australia, Holland France and Italy.

The British Property Federation has added its voice to those opposing the proposals contained in the Government’s Consultation Document on the Reform of Corporation Tax which would impact on property companies.

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There is much we can share already I see this Group as being passionate about raising standards of service for the benefit of all. Reacting to the news that the Government is including clauses on Empty Homes and Tenancy Deposits in the Housing Bill We supported in principle the introduction of Empty Homes Management Orders at the consultative stage and are therefore pleased that Government is giving them careful consideration.

Contrary to some of the headlines in the tabloid press, these are not proposals that will allow local authorities to take over properties the minute the owner’s back is turned, where all other routes have been pursued and failed.From the Crown Estate’s viewpoint we believe that it will support our work to improve our responsiveness to the aspirations of our customers and so fits well with our initiatives such as Regent Street Direct.

 

What is absolutely imperative is that this is introduced in a way that levels the playing field, rather than encumbering the vast majority of good landlords, and not catching the few who deliberately pursue sharp practices.

The British Property Federation is pleased to announce that Martin Moore of Prudential Property Investment Managers Limited (Pru PIM) has assumed the Presidency for the next year.Pru PIM is one of the most active organizations in the UK property market, managing over £12.5bn invested in a number of different portfolios ranging in size up to £9bn.At the beginning of 2001, he was also invited to join the design review committee of CABE. He has been a member of a number of public bodies, namely the Government’s Advisory Committee on Business and the Environment (1991-1993), the Property Industry Forum (1997-2002).

He was Chairman of the South Bank Employers’ Group and the Waterloo Partnership Board (1994-2003). At a time of potential significant change for the property industry, particularly with the impending introductions of PIFS, we are delighted to have two such experienced property executives in place to represent the Industry’s views.

The comprehensive response brings together the property industry’s views on how REITs should be structured and what, if any, restrictions should be placed on the scope of their activities and operations. With a particular finished objective to get to holds with what it all systems its basic to know your adversary and find what a real estate conveyancing master does in the property market.

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Slough is delighted to have been selected to purchase this site as it will enable the Company to fulfil its ambition to create at Farnborough the pre-eminent business park in the M3 Corridor for its own long term ownership. The purchasers’ settlement agents perth wa will then check through the draft contract and raise standard enquiries.

This strategy also helps decrease our dependency on the vagaries of purely commercial or residential property cycles.

We are expecting to invest in excess of £250 million on the development of this park. The scheme will offer an opportunity to develop the next generation park to add to Slough’s portfolio of established prime business parks, most notably the Slough Trading Estate and Winnersh Triangle, Reading. The Shires opened in 1989 and attracts a weekly footfall of 90,000 and following the recent letting activity, there are now only three vacant units throughout the scheme.

Accessories have taken a new 10 year lease on Unit 5a at an initial rental of £13,500 per annum with a review at the fifth year.

Defence Estate Organisation was advised by Hillier Parker, and Slough by Fletcher King. Acting for the landlord, Allied Dunbar Assurance, joint agents Blair Kirkman and Brian Fitchett Commercial have negotiated lettings at The Shires, Trowbridge to Claire’s Accessories, and local retailers Etc. Etc., Future Resources, and Sheriton Jewellers.

The unit has a sales area of 47.2 sq.m. (508 sq.ft.). Etc. Etc. have taken a 10 year lease on Unit 12 at an initial rental of £29,500 per annum with a review at the end of the fifth year. Sheriton Jewellers have signed a six year lease on Unit 13 at an initial rental of £20,000 per annum with a review at the end of the third year. Future Resources have acquired Unit 25 on the basis of a 10 year lease at £18,000 per annum with a review at the end of the fifth year.

Unit 25 has a ground floor sales area of 50.6 sq.m. (545 sq.ft.) and first floor storage of 23.1 sq.m. (249 sq.ft.). Following the successful lettings of 268 Bath Road, Slough and Kingswood in Ascot, Slough Estates plc are now embarking on the next phase of speculative development on the Slough Trading Estate. Construction of a 1,960 sq m (21,090 sq ft) office building has now commenced at 188 Bath Road, Slough, reflecfing the current level of interest in the area.

An air conditioned building, over ground and two upper floors will benefit from 86 car parking spaces (1.23 sq m) and is due for completion in December 1998. Commenting on the development, Bruce Usher, Slough Estate’s Leasing Manager said: Slough Estates have had an extremely successful year to date and we hope to continue that with the development of 188 Bath Road.

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Consumers, who are primarily small investors, could be protected far better simply by getting the FSA.Property conveyancing defines that the legal ownership gets transferred from one person to another one. To make your process status successful and free from any types of problem you should hire the conveyancer and that conveyancer perform the steps in the simple ways.

Buy-to-let syndicates are responsible for acquiring large numbers of units in individual buildings.

• others are intending to try to sell on the units before they are completed and have to be paid for.
• or sued for damages by the developer if they do not complete.
• When individual buyers see ‘faze one sold out’ they often wrongly assume.
• He will take over from the Senior Vice President, Nick Ritblat, at the BPF’s AGM in June 2006. that good landlords end up paying for the disputes of the bad.
• The small investor segment is known to be significant, but until now there have been no figures available that quantified it. This report addresses this information gap and reveals that there are at least 6.5 million active individual investors together with approaching 200,000 pension funds and over 100,000 charities that have assets of less than £30m. In total these small investors have assets in excess of £700 billion.

• This has now effectively removed Limited Partnerships from the menu of options available to the industry. Ironically, the overall impact of this on the Treasury’s coffers will be virtually nil since those Limited Partnerships that do need to trade have already moved offshore – together with all the ancillary activity which contributes to London’s position as a financial centre.

We felt we had shown how this could be done whilst at the same time preserving Limited Partnerships as a legitimate and very useful means of achieving collective investment in property. Unfortunately, the Government seemed not to want to listen to our case. Although we received a very sympathetic hearing from Ruth Kelly, it was clear that officials preferred the ‘sledgehammer’ approach.

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He also advises tenants, particularly those who have been in occupation for some time, to check whether they have break provisions in their leases and the terms under which they can be implemented. Tenants must act early to ensure possession can be given to the landlord and the property handed back in the appropriate condition, he added. Ryden International Property Consultants are delighted to announce the creation of Ryden Asset Management Limited (RAM), a new property portfolio asset management company.

The new company will procure and run a variety of property portfolios for clients, assist with the structure and financing of portfolio partnerships and joint ventures, and asset manage existing portfolios.Andrew was formerly Property Director at AXA Equity and Law Itivesti-nent Managers. At AXA Equity & Law, Andrew was responsible for all the property functions of three portfolios with over E950M of assets. Andrew’s fund management experience will be complemented by a team providing property investment, analyst and structured finance skills.

The new company will be located at 2-5 Old Bond Street in London’s West End and Andrew can be reached. It is a unique blending of a international commercial property practice with an experienced fund manager. Conveyancing lawyers or solicitors doing legal and truly conveyancing process for buyers or sellers who want to sell or purchase their properties. State officials have said the review was part of a normal periodic inspection. The first Network event is a seminar at Gateshead Civic Centre on 10 December entitled ‘Contaminated Land: Practical Solutions for Re-use’.

Our partnership is unanimously behind the project and anticipates that its success will underpin the Ryden’s qualities of innovation and professional practice that are so respected in the marketplace. Merivale Moore PLC, the property investor, has continued its acquisition programme by purchasing a high-quality industrial investment in London NW2 for £2.05 million in cash.The property is 10 Roman Road, Cricklewood and is situated off the Edgware Road just south of the M1 motorway. It comprises a 27,081 sq ft single storey warehouse built in 1988 on a site of 1.52 acres (0.62 hectares) benefiting from 45 car park spaces. The property is let to Ferraris Piston Services Limited (motor component distributors), a subsidiary of Finelist Group PLC, on a 20 year lease from 1992 at a rent of £199,500 (£7.37 per sq ft overall), subject to five yearly upwards only rent reviews.

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The building’s size reflects Slough Estates’ desire to provide for the long term needs of occupiers of all sizes who can then benefit from our flexible and hands on management approach. The number of enquiries we have received to date gives us great confidence that we will be able to achieve a ground breaking letting in terms of both rental levels and lease length. 188 Bath Road forms part of Slough Estates plc’s ongoing £180 million development programme involving the development of some 2.4 million sq ft of B1, B2 and B8 accommodation.

However, many tenants attempting to trigger lease breaks have found that they may be forced to commit to a full term after all. Many landlords attach conditions to the break which some tenants find it impossible to fulfil. Conveyancing Company offers comprehensive property Conveyancing offers to make your process done in easy ways. For example, they may be required to give at least six months notice or in many cases a much longer period. This is often overlooked by the tenant, who may give notice too late and therefore misses the boat since the time limits for service are often very strict. Some leases also require the tenant to have fulfilled the covenants in the lease before they are freed from the property.

So, not only must the tenant be up-to-date with rent and service charges, but often they must have maintained the building in the necessary condition and undertake any repairs defined in the legal document. Mr Marlow recently advised a firm which wanted to exercise its break on a 30,000 sq ft office building.

However, if the lease was at its natural end, dilapidations of less than half this amount would be payable. In this case Lambert Smith Hampton negotiated successfully with the landlord, saving its client more than 50,000. But according to Mr Marlow tenants must ensure that leases are breakable at an appropriate time and within the timescale they envisaged.

For occupiers of larger properties this may mean making a decision two years or more in advance of the notice date to ensure that not only can they vacate the property by the appropriate date.