Like blossom in Spring, the property market is bursting into a veritable bonanza of colourful statistics all eagerly collated and displayed by editors of papers and blogs keen to tap into the great national obsession.
It is arguable that the Budget of 2014 merely tinkered around the edges of the property world. Certainly, residential developers will not complain about the four-year extension of ‘Help to Buy Equity Loans’ until 2020. However, in terms of headline-grabbing changes there were few, certainly for those of us who work with commercial property.
Property, generally, in this country has always sat uneasily on a base consisting of the vagaries of the market (the attempt to guess the future value of any particular property asset) and a legal framework that has been slowly building-up over the centuries. For those who work with commercial property this legal framework has, over the years, simply reacted to different conditions in the market and the concerns of the day.
For instance, the market demanded that business tenants benefited from more security as occupiers of business property, statute then provided business tenants with a form of security of tenure; latter-day concerns over contamination brought forth environmental protection legislation which impacts on all those with commercial property holdings.
In the near future those involved in the commercial property world will be required to get to grips with:
- ever more challenging environmental regulations/sustainable development
- the renewal and regeneration of old building stock
- the accommodation of tenants who require ever more flexible terms in their occupation of buildings reflecting a more transient and immediate world
- ever-changing technological requirements and specifications
As the temperature rises in the market generally, those who work with commercial property will be operating in a hectic, demanding and ever-changing climate but one in which the fundamentals will remain constant. One of those fundamentals is “expertise”, deep knowledge of the legal “back-catalogue” combined with a commitment to being wholly up-to-date with fast-moving changes. This is the Geoffrey Leaver commitment – fast-moving proactive advice delivered by a long-standing team with a great track record – whether this is to SMEs, landlords, investors or developers.
For more information or to discuss how we can assist you please e-mail Darren Millis firstname.lastname@example.org or call him on 01908 689319 using reference code CP001