Archived News from 2017

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Commercial Property

December

Forbes News

Forbes Joins Association of Member-Directed Pension Schemes

06/12/17

Leading law firm Forbes Solicitors has enhanced its work in the pensions sector by joining the Association of Member-Directed Pension Schemes (AMPS). AMPS is a body which represents the SIPP (Self-Invested Personal Pension) and SSAS (Small Self-Administered Pension Schemes) industry and…

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November

Forbes News

CoolKit Secures New Premises

23/11/17

Burnley-based refrigeration specialist CoolKit has expanded its manufacturing facilities by a further 60 per cent. This is the second time in less than two years that the growing company has expanded its footprint. The latest deal has seen them secure new premises comprising of 25,000 square feet…

Legal Article

Follow The Right Procedure To Exclude The Right To Renew

14/11/17

Whether or not the security of tenure provisions contained in the Landlord and Tenant Act 1954 ("the LTA 1954") are included in a commercial lease, can often be one of the most important considerations for a landlord. Sections 24 to 28 of the LTA 1954 provide a framework for lease renewal in…

Legal Article

Limitations on Limitations of Liability

10/11/17

Any transaction, no matter how much the parties may believe they catered for all eventualities, carries a degree of risk of liability for all parties involved. Where trustees are party to a transaction (whether a property transfer or a lease), they will usually seek to limit their liability to ensure…

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October

Forbes News

Five Newly Qualified Solicitors for Forbes

23/10/17

Five members of staff at leading North West legal firm Forbes Solicitors are celebrating after qualifying as Solicitors. Amy Chadwick, Rebecca McCann, Laura Marsh, Bethany Paliga and Stacey Lakeland are now beginning the next stage of their careers with the firm. Amy, based in the Leeds…

Forbes News

Forbes Solicitors celebrates 44 Legal 500 Recommendations

19/10/17

Forbes Solicitors is celebrating after receiving 44 recommendations for its lawyers and services in the 2017 Legal 500 rankings, up from 31 in 2016. The leading North West legal firm is also delighted to reveal that the firm has been recommend for the first time for Education , Clinical Negligence…

Forbes News

Blackburn Family Business Expands Following Purchase of New Property

05/10/17

Floors N Carpets Ltd is expanding following the purchase of new premises in Blackburn. The family business has acquired a 128,000 sq ft premises in Copy Nook, Blackburn which is surrounded by 7.5 acres of land, providing space for growth and development. Founded in 1980 by Mohammed Isa Namaji…

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September

Legal Article

Grab yourself a Bargain Property at Auction

29/09/17

We have all heard the stories of how people attend a property auction and bought a property for an unbelievably low price. The process can prove exciting and potentially profitable; however it is essential that you proceed with caution! Once you have identified a property that you are interested in,…

Legal Article

Watch out for Flying Freeholds!

21/09/17

Flying Freeholds often rear their heads at the most inopportune moments; they are most commonly discovered when purchasing a property or part of a property. This is obviously never a good time to discover any issues, let alone ones that can impact upon the use and viability of the property. A Flying…

Legal Article

Termination of a Lease: Before the Expiry of an Existing Lease

20/09/17

There are various ways in which a lease can be brought to an end. The appropriate method to use will vary dependent upon whether the lease term has passed. We will consider the different options available prior to the expiry of the existing lease in turn below. Is there a break clause? It may be…

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August

Legal Article

The Government's Proposals On Leasehold Reform

25/08/17

Over recent years there has been a vast increase in the number of leasehold properties being registered at the Land Registry. The number of leasehold properties in England and Wales has almost doubled between 1996 and 2015. Leasehold properties can seem appealing on the surface, often being…

Legal Article

The Standard Commercial Property Conditions (third edition)

21/08/17

The Standard Commercial Property Conditions (SCPC) are a set of conditions to be incorporated into a contract for sale or grant of a lease of commercial property. Most conditions that are needed in a contract are similar and the SCPC are a set of conditions that have been drafted by an independent body…

Legal Article

Commercial Leases - Can They Be Automatically Renewed?

21/08/17

A Landlord and Tenant may have entered into an arrangement for the leasing of a property for a fixed period of time, but both parties should be aware from the outset that the Landlord and Tenant Act 1954 ("LTA 1954") provides for the lease to potentially be renewed at the end of the…

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July

Legal Article

Being A Responsible Airbnb Host

06/07/17

With the rise in holiday rentals, Airbnb has become a popular platform for short-term lets, allowing hosts to advertise all or part of a property for rent, whether it be a penthouse apartment, a tree house or even still, a boat. Airbnb, a company which started in San Francisco with a small apartment…

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June

Legal Article

Queen's Speech confirms GDPR to survive Brexit

26/06/17

Through last week's Queen's Speech, the government confirmed that which the ICO has already indicated: that there will be data protection law in the UK post-Brexit. Alongside the Great Repeal Bill and various others, will sit a Data Protection Bill, as outlined on pages 46 & 47 of the Queen…

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March

Legal Article

The Completion Process and Post-Completion Requirements

28/03/17

Following replies to Commercial Property Standard Enquiries being received, the buyer being satisfied with the search results, and contracts having been agreed and exchanged the next step would be for completion to take place. Often completion will take place after exchange, however it is not uncommon…

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February

Legal Article

Fixed Fee Sale Package: Part 2 - Deducing Title

16/02/17

In order to sell a commercial property the buyer's solicitor will request that the seller's solicitor deduce the title to them as part of their due diligence requirements. This is because of the "buyer beware" caveat in property transactions that it is the buyer's responsibility…

Legal Article

Fixed Fee Sale Package: Part 1 - Initial Consultation

09/02/17

The first part of our series of articles on the Forbes fixed fee sale package focusses on the initial consultation with a solicitor in our Commercial Property team. Once you instruct Forbes to act on your behalf in relation to the sale of your commercial property, you will be invited to attend a…

Legal Article

Questions we have been asked this month

06/02/17

What is the difference between freehold and leasehold title? Leasehold title is where the Property is held under a lease for a term of years. The lease sets out obligations on how the tenant can deal with the Property, such as permitted use, assignment, alteration and repairs. The Tenant…

Legal Article

Fixed Fee Sale Package

02/02/17

The Commercial Property Department at Forbes are currently offering a fixed fee sale package for clients looking at selling their commercial property . At Forbes we understand that clients want to proceed as quickly as possible to secure their sale and obtain the sale proceeds.  That is why we have…

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January

Legal Article

Index Linked Rent Reviews - What is it and who benefits?

26/01/17

Rent reviews can give a landlord the ability to ensure that they are charging the market rent for their given commercial premises. They can also prove to be a useful bargaining tool for landlords and tenants when negotiating Heads of Terms. The rent review clause sets out when each review will take…

Legal Article

Geared Rent Reviews

23/01/17

For the next topic in our series on types of rent review, we shift to "geared" rent reviews (also known as "side-by-side" rent reviews). Geared rent reviews are usually only applicable in a lease between a Superior Landlord and a Tenant (often a developer or investor), where there…

Legal Article

Open Market Rent Reviews

05/01/17

Often commercial leases contain rent review provisions which are intended to determine the amount of rent payable at various stages during the life of a lease. The frequency that a rent review occurs can vary per lease as it will depend on what the lease stipulates, however a rent review period every 3…

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