First time Buyer confuses about property transactions Valuation
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’ property valuer perth, 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: 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.