There is much in this Consultation Document that is sensible and it would be a pity if that was overshadowed by the proposed treatment of unrealized gains. The average time period until the first break clause in aahe average time period until the first break clause in a lease across all sectors, has fallen from 11.3 years in 1992 to 4.6 years today.
In its formal response to Government, the BPF has expressed concern at the suggestion that unrealized gains should be taxed, which would affect the quoted property companies more seriously than any other element of business. By difference, an expert property conveyancing firm will be a more indifferent experience and you may not generally recognize what is going on for instance, it is not unprecedented to hear nothing from the property conveyancing firm for a considerable length of time and after that to abruptly be educated that a moving in date has been concurred.
Which is the Government’s aspiration? However, we should not be relying on market trends alone Our members must be proactive in publicizing the Code to their customers and in being prepared to offer a variety of other options to meet customers’ varying needs. The measures we are launching today illustrate the BPF’s firm commitment to the success of the Code.
Contrary to some perceptions, the Code does not ban Upward Only Rent Reviews, but does place an onus on the industry to be prepared to offer choice and an onus on tenants to explore alternatives and set some parameters for the choices they want to consider. This week sees the launch of a unique example of co-operation between the public and private sector aimed at improving the way in which the planning system works through enhanced councilor and officer understanding of the development process.
The initiative, known as FUR (Financing the Urban Renaissance), is based around a novel training module which involves a whole day simulation exercise in which councilors and officers act out the negotiation process involved in getting a complex, mixed use regeneration project off the ground.John Bywater, Managing Director of Hammerson UK Properties Plc and Chairman of the BPF working party that put together its support package added.