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Commercial Brief real estate market insights – July 2021

Um resumo dos desenvolvimentos recentes no setor imobiliário impactado pelo Covid-19, incluindo o proprietário e os impactos do inquilino e o futuro do espaço de trabalho, as implicações do crescente uso de drones e o impacto do nó japonês nas transações imobiliárias do Reino Unido.

Um resumo dos desenvolvimentos recentes no setor imobiliário impactado pelo CoVID-19, incluindo o proprietário e os impactos do inquilino e o futuro da área de trabalho, as implicações do uso do uso do Ban de abril de abril. Confazer e as restrições em vigor na recuperação de atraso de aluguel comercial (CRAR). Algumas dessas restrições foram estendidas a março de 2022. Outras medidas anunciadas incluem a introdução de um processo de arbitragem obrigatório para permitir que os proprietários e os inquilinos concordem em um acordo legalmente vinculativo em circunstâncias em que um acordo não pode ser alcançado. Hussain

There’s a bigger storm coming

In April, the government published a Call for Evidence on the ban of the use of forfeiture and the restrictions in place on the Commercial Rent Arrears Recovery (CRAR).

On 16 June and in partial response to the Call for Evidence, the government announced further extensions to the ban of the use of forfeiture, the restrictions in place on the CRAR, and the restrictions on statutory demands and winding-up petitions. Some of these restrictions have been extended to March 2022. Other measures announced include the introduction of a compulsory arbitration process to enable both landlords and tenants to agree a legally binding agreement in circumstances where an agreement cannot be reached.

Contacts: Angela Bhaseen, Sanam Hussain, Miran Bahra e Amanda Hanmore

Item relacionado: Há uma tempestade maior chegando

New era, new workplace

The COVID-19 vaccine is successfully being rolled out and lockdown is due to be lifted later this month. The unpredictability of our ever changing environment means employers have to consistently consider their options with regards to office spaces, the continued use of masks and social distancing.

Reports suggest that there was a sharp increase in London’s office market in the final quarter of 2020 with pent up investor demand as confidence in the office market returned due to the successful vaccine roll out. This reinforces the belief that we are not quite ready to close office doors permanently. Given the success of remote working, we will see a more flexible and hybrid work style with a mixed percentage of remote and office based working practices.

As we return to the office, landlords and tenants may consider reconfiguring and better utilisation of existing office space. The driver of returning to the office is to have face to face collaboration. This may mean having more meeting rooms for colleagues as well as clients to allow team working. Landlords and tenants may also consider creating collaborative work stations and break out areas.

For some companies, remote working has meant a large office may be surplus requirements and lease re-gearing may be the answer to renegotiate existing terms. Whilst there may be a decline to occupy office spaces, we could see a shift to redevelop and convert offices to residential spaces by taking advantage of permitted development rights under the new Town and Country Planning (General Permitted Development) (England) (Amendment) (no.3) Oder 2020 (SI No. 756).

Contacts: Angela Bhaseen, Neha Gafu and Amanda Hanmore

Item relacionado: New Era, novo local de trabalho

BirdSeye View Of Drones - Parte 2: A pequena impressão, a chave | operadores e pilotos. Atualmente e sob a lei da UE retida, existem três categorias ao voar drones - abertos, específicos e certificados.

Further to our earlier article, we consider the red tape surrounding the use of drones in the real estate sector and the wider implications on operators and pilots. Currently and under the retained EU law, there are three categories when flying drones – open, specific and certified.

Para fins de marketing imobiliário, você pode operar na categoria aberta e obter imagens de alta qualidade (se o drone foi operado a 50 metros de distância de pessoas não envolvidas). Para operações de vôo mais complexas que requerem tempos de voo mais longos e imagens/análise de vídeo de maior qualidade, é mais provável que isso se enquadre na categoria específica. Os drones que caem nessas classes terão que atender a certos padrões. Como eles poderão ser operados dependerão da classe específica em que se enquadra. Como esses dados são capturados e processados ​​serão significativos. Drones - Parte 2: The Small Print, os principais problemas

From 1 January 2023, the new classification system for drones placing them in classes from C0-C4 will come into effect. Drones falling within these classes will have to meet certain standards. How they will be able to be operated will depend on the specific class they fall within.

Data protection will also play a key part in the future of drones as the technology becomes more advanced. How that data is captured and processed will be significant.

Contacts: Angela Bhaseen, Stuart Farlow and Amanda Hanmore

Related item: Birdseye view of drones – Part 2: The small print, the key issues

JATOMENCIA JAPONOMENTE: Sua reputação cresceu fora de controle? Os credores relutam em emprestar sobre a propriedade efetuada, o valor das propriedades é afetado por TI e as possíveis reivindicações de incômodo (onde afeta a terra vizinha) aumentaram. Como tal, a legislação atual, a orientação e a percepção do Knotweed podem precisar mudar. O relatório do DeFra se concentrou na abordagem internacional do nó japonês no contexto das vendas de propriedades. Ele descobriu que muitos países internacionais não colocam uma grande ênfase em saber se o Knotweed afeta uma propriedade e que as decisões de empréstimos não levam em consideração o Knotweed. Observou ainda que os níveis de regulamentação adotados no Reino Unido foram desproporcionais aos efeitos do nó japonês. Além disso, todo credor do Reino Unido tem uma abordagem comercial diferente para a venda de propriedades afetadas. Se isso for refletido na legislação do Reino Unido e na estrutura do RICS para os credores, isso proporcionará mais clareza e certeza para garantir uma abordagem proporcional ao nó japonês. - Sua reputação cresceu fora de controle?

Japanese knotweed, an invasive plant that is notoriously hard to remove, has gained a lot of bad publicity due to its perceived damage to property. Lenders are reluctant to lend on property effected, the value of properties are affected by it and potential nuisance claims (where it affects neighbouring land) have increased.

However, a key finding from the House of Commons Science and Technology Select Committee’s Report 2019 is that this significant negative perception may be disproportionate to the actual physical damage caused by knotweed. As such, the current legislation, guidance and perception of knotweed may need to change.

This question of proportionality was further considered by the Defra (Department for Environment, Food and Rural Affairs) Report, September 2020 (the Defra Report). The Defra Report focused on the international approach to Japanese knotweed in the context of property sales. It found many international countries do not place a great emphasis on whether knotweed affects a property and that lending decisions do not take knotweed into account. It further noted that the levels of regulation adopted in the UK was disproportionate to the effects of Japanese knotweed. Moreover, every UK lender has a different commercial approach to the sale of affected properties.

A scientific consensus combined with pooling evidence from remediation companies should help to provide more clarity as to the extent and impact of Japanese knotweed. If this is then reflected in UK legislation and the RICS framework to lenders, this will provide more clarity and certainty to ensure a proportionate approach to Japanese knotweed.

Contacts: Angela Bhaseen and Amanda Hanmore

Related item: Japanese knotweed – has its reputation grown out of control?

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