A fairly good demand for premium office space exists in London in the days leading up to Brexit, on the 31st January 2020, since the Conservative win in last month’s general election. However tenancy agreements have yet to be fully negotiated. A large surge in refurbishment and building has been forecast by commentators for the first six months of this year.Share This:-
London is first for commercial property investments followed by Paris largely due to the expanding tech sector.
The UK restaurant sector however is facing uncertain times with nearly 1500 insolvencies in the year to July due to the large volume of establishments, poor customer attendance and increasing costs.Share This:-
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.Share This:-
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.