With more and more commercial property sitting empty, an important judgement in Cardiff could have major ramifications for empty property rate relief.
Due to dubious claims of the property being re-occupied for over 6 weeks and vacant again, councils have taken a harder approach. The appeal against Vale of Glamorgan Council could mean each request for relief will be taken on its own merit so to avoid similar court case. Continue reading Empty property rate relief – Changes ahead?
The commercial property market is still struggling due to the difficulties in the economy, according to Jones Lang LaSalle.
Their latest forecast cites returns down at 2%, although office rentals in the West End should perform well. Elsewhere across the country will not experience the same though, with Jones Lang LaSalle expecting rental falls. Continue reading Forecasts Down for Commercial Property
We are witnessing a significant rise in the incidence of some banks refusal to offer new or extended terms to commercial loan facilities. In extreme cases, some banks are demanding early loan redemption. This often leaves the borrower with a major headache in a market where commercial lending is restricted and competitive alternatives are not immediately apparent.
There is no doubt that some banks are ‘shoring up’ their liquidity positions by not lending as broadly as they have done in the past. However, some lenders are very much in the market and the skill is to source those lenders who have an appetite to lend. It is key to present a proposition in a robust manner and, importantly, directing the proposal to the underwriters making the decisions, rather than the local manager who probably has no discretion in these matters. Continue reading Banks not renewing commercial loans
The UK’s millionaires are set to up their investment into property according to the latest Millionaire Monitor form Skandia.
Of the 436 millionaires questioned, 55% said they were going to invest in more property. More leaned towards residential investment too, with 31% saying they were going to invest in residential property and 24% interested in commercial property. Continue reading Make way for the millionaires
In this video I interview IFA Jason Howard about how property investors and business owners can combine their pension schemes to acquire commercial property and to release cash tied up in their businesses premises for alternative investment or cashflow purposes.
Continue reading Using pensions for sale and rent back of commercial property
Retailers are shutting up shop in Britain’s high streets and many of the doors may never open again for trading. New data shows town centre business rates for shops are surging, with shopping ‘black spots’ in the north and midlands. Continue reading Retailers closing up shop on Britain’s high streets
Capital allowances, particularly on property acquisitions, are often unclaimed or under claimed because of the difficulty in identifying and valuing qualifying expenditure or simply knowing what allowances can be claimed.
It is estimated that more than 90% of Capital Allowances are not fully claimed. Continue reading Commercial property owners are missing out on massive tax breaks
Property investors Brian and Mary Pat O’Donnell prospered in the boom times by buying up trophy office buildings in prime locations around the world, but are now fighting to hold on to their billion pound portfolio. Continue reading Property couple’s £1 billion pound spending spree turns sour
Commercial investors are celebrating average property values increasing by 8.9% and returns of 16.1% for 2010. Continue reading Commercial property starts the year on a high