Central London has seen a large uptake in office space over the past four weeks. This has been dominated by the creative industries such as advertising and public relations agencies and fintech firms. Figures are up by almost one third on October last year. Off plan leasing deals have also increased dramatically with more than half of the buildings currently being built having deals undergoing due diligence by London solicitors.Share This:-
Due to the recently recorded fall in established landlords entering the property market making buy-to-let investments there are unrivalled opportunities for new entrants. This has been perceived by a drop in serial investors mortgage approvals by more than half over the last quarter.Share This:-
Just under £1.4bn has been invested in commercial property in the City’s square mile from January to July this year which was practically the total invested in the area last year. Significant deals in the range of £250m have been completed amid a general air of confidence. Much of this purchasing activity has been carried out by UK fund managers.Share This:-
The Supreme Court reminded us last week of the difficulties of obtaining a divorce when it is opposed.
Grounds for divorce
When you apply for a divorce you’ll need to prove that your marriage has broken down. You’ll need to give one or more of the following 5 reasons known as the grounds for divorce:-
Your husband or wife had sexual intercourse with someone else of the opposite sex.
The law recognises the act of adultery as sexual intercourse between a man and a woman.
You cannot give adultery as a reason if you lived together as a couple for 6 months after you found out about it.
Your husband or wife has behaved in such a way that you cannot reasonably be expected to live with them.
This could include:
Your husband or wife has left you:
You can still claim desertion if you have lived together for up to a total of 6 months in this period.
You can apply for a divorce if you’ve been separated for more than 2 years and both agree to the divorce.
Your husband or wife must agree in writing.
You can be separated while living in the same home as long as you’re not together as a couple (for example you sleep and eat apart).
You can apply for a divorce if you’ve been separated for at least 5 years, even if your husband or wife disagrees.
Growth, in flexible working space is continuing apace and also in warehouse facilities; the latter being the conduit of distribution for the burgeoning internet market. These storage edifices are reported to be best sellers especially in the home counties including London. Space being at a premium, may well see these commercial facilities appearing adjoining residential homes.
Current currency rates ensure commercial property in London retains its appeal to investors especially to those of Asian decent.
Conveyancing solicitors are looking forward to an upturn in work volumes due to the recent Budget announcement by the Chancellor that stamp duty is abolished for first-time buyers of homes up to the value of £300,000. For properties that are up to £500,000 first-time buyers will not pay stamp duty on the first £300,000 and 5% from £300,000 – £500,000.
Commercial property solicitors in London have ‘inboxed’ their employment departments to brace themselves for a substantial increase in contract work.
Purchasers have spent £1billion on retail space in central London in the first six months of this year originating particularly from Singapore and Hong Kong. The City unfortunately is not faring as well due to the Brexit vote and the uncertainty of its position with the European Union.