Latest News within Commercial Property
A new barbecue and Asian fusion restaurant in Edwinstowe has bucked the trend of struggling food outlets in Nottinghamshire by attracting thousands of avid followers and future customers over the last few months in anticipation of their opening.
When the Covid-19 crisis forced the country into lockdown back in March, many businesses, in many sectors, were forced to close their doors to employees, clients and customers alike.
In response, the Government announced a temporary ban on evictions of commercial property tenants. A move that was welcomed, initially, as a way of securing the longer-term future of certain companies and, in turn, the jobs of their staff.
Chesterfield Canal Trust’s ambitious plans to preserve and reinstate the historic canal lines that run from Staveley to Kiveton Park have recently continued after the charity confirmed the purchase of two unoccupied houses located on the proposed route.
With Brexit now officially ‘done’, you could be forgiven for thinking that the rest of the year is likely to be somewhat less eventful. However, with a number of major legislative changes afoot impacting business owners, homeowners and savvy investors alike, and the Spring Budget yet to be announced, it is fair to say that may not be the case.
A popular Nottinghamshire gymnastics workshop has announced the launch of its second site and the creation of 25 new jobs in the area amidst unprecedented demand from new members across the region.
In April 2018 new legislation increasing the minimum energy efficiency standards for commercial property was implemented, making it unlawful to enter a new lease on a commercial property with an Energy Performance Certificate (EPC) rating of ‘F’ or ‘G’, the current lowest grades of EPC.
Research into the housing market throughout 2017 has revealed the areas of the UK where property prices increased and decreased the most last year. Cheltenham in Gloucestershire was the place where prices grew at the fastest pace, with the average price of £313,150 marking a 13% rise – nearly five times the UK average increase of 2.7%. At the other end of the scale was the Scottish town of Perth, where prices dropped by 5.3% to make the average property price tag £180,687.
It’s a troubling norm of today’s society that most people will have heard a horror story about property fraud from a family member, a colleague from work or simply reading online. Importantly, these stories need to be kept in perspective: remember, the tales of properties being rented and sold without any noteworthy problems are the ones people usually don’t bother sharing! However, it’s also worth taking heed of the negative experiences of others to ensure you do everything you can to avoid falling into similar traps.
Auction Estates Ltd, a dedicated property auction house specialising in the sale of residential housing, commercial property, land and specialist property investments, has hit a major milestone this month having completed in excess of £10m worth of auction sales in its first twelve months of business.
The Energy Efficiency Regulations 2015 brought into force minimum energy efficiency standards for residential and commercial properties. As of 1 April 2018, Landlords with properties within the scope of these Regulations must not renew existing tenancies or grant new tenancies if the property has less than the minimum Energy Performance Certificate (EPC) rating of ‘E’. It is estimated that a significant number of rented properties in England and Wales have an F or G rating.
In case you were not aware, the legal services provided in the UK are Great. But don’t just take our word for it; its official! A global drive to promote the UK’s £25 billion legal services sector at home and abroad has just been launched by the Lords justice spokesman Lord Keen at a reception in Singapore.