Commercial Real Estate – Tech

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CAUSAL LINKS

Wednesday, May 4th, 2011

Dilapidations – In part 2 of their article, Dawn Reynolds and David Gilbert consider how events predominantly driven by third parties can affect a diminution in value assessment in a damages claim.

What happens when the landlord lets premises and argues that the letting crystallises the loss? This may be quantified in terms of a rent-free or other incentive or the cost of works necessary to secure the letting.

In such cases, the losses incurred are often shown as a direct deduction from the reversionary value. Although in practice this may be the case, it is important to analyse what the incentives were, what they represented and how they are causally linked with the breach of the lease terms. In this scenario, tenants should ensure that all the letting details are provided, including side agreements.

LOOMING LARGE

Friday, April 15th, 2011

Dilapidations In the first of two articles, Dawn Reynolds and David Gilbert consider post-lease events and their effect on the level of damages that a landlord can recover

Whatever the economic climate, the issue of dilapidations at the end of a lease is an emotive one for both landlord and tenant. In a difficult market, the parties’ advisers face greater pressure to achieve the best results for their clients. Where landlords seek to recover every penny and tenants want to retain cash flow for what they believe to be more pressing business costs, it is tempting to draw into the assessment of the dilapidations claim events and situations that occurred after the lease expired. The aim is to create or increase a claim on behalf of the landlord or to reduce or extinguish the tenant’s liability. Such attempts have increased over the past two years.

PROPERTY AGREEMENTS LOSE COMPETITION EXEMPTION

Thursday, January 6th, 2011

From 6 April 2011, an automatic exemption of the provisions of the Competition Act 1998 (the Act) which covers land use restrictions or obligations will be revoked. Any such provisions – whether in new or existing agreements – will need to be assessed to determine whether they are anti-competitive for the purpose of the Act.

In order to avoid infringement, all companies with property interests are urged to review their agreements to ensure that they comply with the Act.

REAL ESTATE NEWS: Carbon Reduction Commitment – 45 Days Left to Register to Avoid Fines of up to £45,000

Tuesday, August 17th, 2010

There are just 45 days to go until the end of the registration period for the Carbon Reduction Commitment Energy Efficiency Scheme (CRC).

The scheme requires any corporate, corporate group or public sector organisation that uses more than 6,000 MWH of relevant energy a year (equating to an energy bill of around £500,000 p.a.) to register and from next April to buy an allowance for every tonne of carbon dioxide emitted. It also requires an estimated further 15,000 businesses to register and provide information with a view to having to buy allowances in the future.

REAL ESTATE NEWS: Guarantees on Assignment Remain Unenforceable

Wednesday, August 4th, 2010

The much publicised case of Good Harvest Partnership LLP v Centaur Services Limited [2010] EWCH 330 (Ch) has settled prior to it reaching the Court of Appeal. This means that the High Court’s controversial decision remains good law, at least for the time being.

REAL ESTATE NEWS: Coalition heavyweight quick out of the blocks

Wednesday, June 2nd, 2010

On 27 May, less than three weeks after the new coalition Government took power, Eric Pickles, the new Secretary of State for Communities and Local Government, wrote to all Council leaders to highlight the coalition commitment “to rapidly abolish Regional Strategies and return decision making powers on housing and planning to local councils”.

REAL ESTATE NEWS: The rule against perpetuities…A breath of fresh air

Friday, April 30th, 2010

6 April 2010 was not only the commencement of the new tax year, but also the date bringing into force legislation to abolish one of the most arcane and mysterious property laws, the Rule against Perpetuities.

THE RULE AGAINST PERPETUITIES… A BREATH OF FRESH AIR

Friday, April 23rd, 2010

THE CRC ENERGY EFFICIENCY SCHEME – BUSINESSES NEED TO START GEARING UP NOW

Friday, March 5th, 2010

Businesses need to start gearing up now to meet their obligations that will be imposed by the government’s new CRC Energy Efficiency Scheme. The Scheme will be introduced via the Carbon Commitment Reduction Order 2010 and will commence on 1 April 2010.

BANKING ON PROPERTY JOINT VENTURES

Thursday, December 10th, 2009

The climate in the world of property remains tough.