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
Property investors could profit from government plans to encourage development of empty offices in to new housing.
Communities Secretary Eric Pickles has announced proposals to remove planning restrictions to stimulate the developments – and the move is a good fit with councils seeking to dilute concentrations of shared houses in residential areas. Continue reading Commercial conversions boost for HMO developers