Yearly Archive 2019

ByMichael Morrison

Prime Central London Property Prices are on the UP whilst Businesses Migrate from Mayfair to the City

Property prices in prime central London have recovered to that seen a year ago. Gazumping is also on the increase due to competition.

Mayfair has seen the largest increase in residential sales whilst losing the biggest number of commercial tenants to the City.

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ByMichael Morrison

Landlords are Rubbing their Hands

Last month saw a surge in the residential lettings market as tenants swarmed to sign assured shorthold tenancy agreements due to the ban introduced on certain letting agency fees. Tenancy deposits have also been frozen at a 5% maximum. However the shortage of properties on the market means that going forward competition will be fierce.

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ByMichael Morrison

Tech Visa Applications Soar

Launched in 2014, the visa has enjoyed an increase in the past year of 45 percent in the number of applications received by the Home Office for positions in fintech, software development and artificial intelligence and machine learning.

The USA and India are the originating countries from where the majority of these applications are instituted.

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ByMichael Morrison

Will Contests in Court are Increasing – Contentious Probate

Disputes concerning inheritance matters are increasing amongst families leading to court proceedings often in the High Court. This is due in some part to people writing their own wills rather than having one professionally drafted by a solicitor and also by people attempting to administer an estate, as an executor, and not receiving professional assistance.

Home made wills are a legal minefield and can contain omissions, errors and serious ambiguities.

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ByMichael Morrison

Settlement Agreements

Fresh rounds of redundancies have been announced in the banking and retail sectors with solicitors now poised on negotiating terms of settlement such as restrictive covenants. Recent insolvencies, company voluntary arrangements and store closures have served to provide this fodder due to the inexorable rise in commercial costs.

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ByMichael Morrison

Insolvency

Business insolvencies rose by almost 20% in the last three months of 2018 rounding off a year in which corporate insolvencies were up by 10% in total. Construction, then wholesale and retail followed by vehicle repair were the main sectors effected. More companies seem to be closing rather than restructuring.

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ByMichael Morrison

Brexit Does Not Frustrate a Commercial Lease

A recent High Court challenge by the European Medicines Agency (EMA) to sever the commercial lease for its offices was won by its landlord the Canary Wharf Group. The EMA complained that its lease signed in 2014 for 25 years had been frustrated by Brexit which it contended was an unforeseen event. The value of the lease is £500m and the EMA intended to move to Amsterdam.

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ByMichael Morrison

Neighbour Dispute – £100,000 award + costs

Banging on the ceiling, screams of abuse, depression, 21 month vendetta, veiled threats, shouting, intimidating emails, distress, anxiety, reduced sale price, overgrown garden blocking light, tenants feeling petrified. If you are the victim of the aforementioned a civil harassment and nuisance damages claim may be appropriate at the county court.

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