Latest News within Commercial Property
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.
On 26th June 1997, the first edition of Harry Potter And The Philosopher’s Stone – the first in what would become a series of seven novels written by J. K. Rowling about the boy wizard – was released in the UK. Twenty years on, Potter is one of the hottest literary franchises around with more than 450 million copies of the books sold in 79 different languages worldwide. There’s no doubt that Harry Potter has been a source of considerable profits for many, but who have been the biggest winners in this game of financial Quidditch over the past two decades?
The owners of Chesterfield’s newest bar and restaurant, Bottle & Thyme, are looking to expand its workforce just one month after opening due to the ‘overwhelming response’ it has received from customers across the area.
A new company law requires every UK private company, and most UK public companies, to create a new statutory register of Persons with Significant Control from 6 April 2016.
From 30 June 2016, companies will also have to file information from their PSC register at Companies House on a regular basis.
Failure to do so will be a criminal offence.
The courts recently ruled that when the directors of a company involved that company in fraudulent transactions, the company was not barred from making claims against the directors and their accessories for the losses caused by the directors’ breach of fiduciary duty.
The EU has ruled that taxes recently introduced by France in relation to British owners of second properties violate European law and the authorities in Spain have ruled that British people that were duped into buying illegal homes in Spain during their property boom can be entitled to compensation.