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Converting commercial property in residential housing

Commercial property re-development (where previously commercial buildings are transformed into residential units) is a current growth area. For example, a run down old factory site could be purchased for say, £250,000 and (subject to the usual planning obligations) converted into 10 residential units, with an estimated value at £150,000 each. This could provide a potential profit for the developer or investor willing to invest in converting the building. With the government encouraging commercial to residential conversions, and with a good supply of old offices, shops and industrial properties up for…

2018 EPC regulations: Notes for Landlords

We all want to be greener, more energy efficient, and have warm, comfortable homes that don’t leak heat or let in the cold. If you’re a landlord, though, you now have a responsibility to ensure your rental properties are energy efficient. After much to-ing and fro-ing, the 2018 EPC regulation amendments have finally landed, with the changes finalised by the Dept. for Energy & Climate Change. In a nutshell, it means it will be unlawful to let or lease a property (both residential and commercial) that has a poor EPC…

Top 5 tips for successful commercial business relocation

It’s said that moving to a new house is one of the most stressful events of your life. If you’re moving your business, then you have a completely different set of things to worry about. Rather than ‘Where’s the kitchen box with the kettle gone?’ it’s more ‘Where’s the box with the server gone!’. You’ve also got to make sure that a move doesn’t cost you more than just the price of the removals van, and that your business doesn’t suffer as a result. Business relocations should be smooth transitions…

House sellers are facing testing questions

Springtime is traditionally the busiest time for the property market, but with a knotty problem affecting more homes than ever, it’s worth doing some horticultural homework before you start, whether you’re buying or selling. Japanese knotweed is a highly invasive, aggressive and destructive plant, able to grow as high as four metres in just a few months and with roots that can spread seven metres. It’s non-native with no natural predators, and is able to cause significant structural damage, growing through asphalt and other hard surfaces, often compromising building structures.…

Focus on Commercial property department

This month we take a look at our Commercial property department which is headed up by our Senior Partner, Huseyin E. Huseyin. The specialist Bowling & Co commercial property team provide a comprehensive service to both UK and international clients involved in property transactions. We provide a complete lifecycle service and deliver optimum, cost-effective work through transparency, experience and expertise. Our involvement in the property industry over the last 60 years enables us to fully understand our clients’ needs and help them in all aspects of commercial property, whether it be…

When is Vacant Possession, vacant possession?

Two recent cases have highlighted the need to be (as ever) very careful when exercising a break clause. A break clause may only be exercised if any conditions attached to it have been satisfied. A break clause will often contain a condition that the tenant must give vacant possession. In the cases of (1) Riverside Park Limited –v- NHS Property Services Limited [2016] and (2) Secretary of State for Communities and Local Government –v- South Essex College of Further and Higher Education [2016] the two tenants had left partitions in…

Buy to let Landlords beware – letting prevented by lease user restriction

The Upper Tribunal has held that a flat owner was prevented from letting out their flat due to the terms of the lease restriction as to the use of the property. The landlord successfully appealed against a decision at first instance that the flat owner was not in breach of covenant. In the case of Roundlistic Limited v Jones and Seymour [2016] UKUT 325 (LC), a restrictive covenant confirmed the maisonette's use to occupation by the tenant and their family. This was held to mean meant that only the flat…

Start-ups and entrepreneurs: The rise of serviced offices

Often the best route (or the only one) to starting your own business is working from home or your garage. The need to get bigger space and or a professional environment is soon a necessity when the business takes off and expansion is required. However a level of flexibility is required and the commitment to a long lease may not be the right step or one that can be affordable. Therefore one option, initially, is by use of a serviced office. Several researches have shown this to be the case,…

Office to residential permitted development right to be made permanent

The office to residential permitted development right will become permanent in May 2016. In May 2013, a new Class J permitted development right was inserted into the GPDO 1995 Town and Country Planning (General Permitted Development) Order 2013. This Class J granted planning permission for a change of use of a building and any land within its title from class B1(a) (offices), to within class C3 (dwellinghouses), however this was a temporary right. This Class J was then converted to Class O in 2015. There are a number of commercial…

Top 5 things to check when investing in commercial property

Investing in commercial property can be an attractive proposal. From the point of view of returns on investment a commercial property can be a good choice. Rental yields for a commercial property are generally higher than a residential property and commercial lease periods are now returning to longer periods, providing a level of comfort for landlords. As the commercial sectors grow the requirement for office space will only increase. Before investing in commercial property, we suggest considering the following points: 1. Location Location, location, location. This can not be underestimated and is so important.…

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