To Rent Or Buy A Commercial Property – Which Is The Best Option?

To rent or buy a commercial property – which is the best option?

Deciding to rent or buy premises if you are considering an office move or expansion can be difficult. There are several factors you should consider and making the right decision can be challenging. In this article, we look at the pros and cons of each to give you an idea of what you may wish to think about or discuss with your adviser. Potential investment opportunity Firstly, like with any property purchase, buying a commercial property could be seen as an investment. The property may increase in value, and when…

Property Evictions To Resume

Property evictions to resume

Property evictions are to resume but residential tenants will continue to be assisted during the Covid-19 restrictions with longer notice periods remaining in place until at least October 2021. This was announced by The Housing Minister, Christopher Pincher, on the 12th of May. During the initial lockdown in 2020, the Government reformatted the notice periods for residential tenancies, affording tenants extra protection during the pandemic. As part of these temporary changes, a Section 21 Notice (which normally provides a tenant a 2-month notice to vacate a property) was extended to…

Future-proofing Rent Suspension Clauses

Future-proofing rent suspension clauses

The fallout of the Covid-19 pandemic has meant that landlords and tenants must consider future-proofing rent suspension clauses. Following the initial lockdown in March 2020 and subsequent disruption for many businesses, commercial landlords and tenants now must face a reality that a balance has to be struck when negotiating new leases to allow future-proofing to account for events like those imposed by the pandemic. Ideally, each side would want to achieve maximum protection for themselves, but a balance probably lies somewhere in the middle. A recent case involved a commercial…

News: Stamp Duty Holiday Extended Until The End Of June

News: Stamp duty holiday extended until the end of June

What does it mean for you? In the Budget, today, the Chancellor has confirmed that the stamp duty holiday on properties priced up to £500,000 has been extended by three months until the end of June. In addition, the holiday will also apply to properties priced up to £250,000 until the end of September 2021! The extension provides relief for buyers who were unlikely to complete their transactions before the original March 31 deadline. With a tax cut now available for buyers until September, this should also help to ensure…

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