Determining the correct rate of rent in a 1954 Act renewal can be a sticky subject at the best of times, not least when a rent-free period is thrown into the mix. Section 34 of the Act allows the Court to determine the level of rent due under the new lease, taking into account comparable evidence and applying certain disregards. Whilst s ...
The government is currently consulting on amendments to Approved Document B, which gives guidance on how to meet the requirements of the Building Regulations, including options for providing sprinklers in care homes and to recommend a second staircase be provided in residential buildings over 30 metres in height ...
“With the energy crisis likely to continue throughout 2023 and pressures on governments, businesses and individuals to take action to tackle climate change, I expect that, whilst government funding may be limited, there will be no shortage of capital for investment in clean energy projects ...
With just days left till Christmas, the government has revealed more details on its proposed approach to planning reform with a draft National Planning Policy Framework released for consultation. Views are also being sought on a proposed approach to preparing National Development Management Policies, levelling up policy, and how national planning policy is currently accessed by users, but not as yet on the much needed funding for these changes ...
In this briefing, we will review the implications of the Law for property transactions in Jersey. Tax on purchase of residential properties which are not used as a main residence The key implication of the Law is that stamp duty (and equivalent land taxes such as land transactions tax and enveloped property transactions tax) on acquisitions of domestic residential property which will not be the purchaser's main residence will be increased ...
Construction professionals sometimes feel as if it is déjà vu when it comes to disputes—and they are right. There are a handful of claim types that always seem to rear their heads, even in projects that generally are run well. This article will briefly describe those claims and how to avoid them in 2023. 1. Design Error Claims These claims often come up when an inexperienced owner (or architect) are working on an entirely new type of project ...
A picture is worth a thousand words, but what about a drone video? To construction firms and the lawyers who represent them, drones, also known as unmanned aerial vehicles (“UAVs”), enable firms to capture large amounts of high-quality information in a quick and efficient manner ...
The Site Report has extensively discussed the developments of 3-D printing building construction and its impact on the construction industry. 3-D printing structures is becoming more commonplace. Last month, Iowa State University began designing 3-D printed housing for rural Iowa. ICON Technology, Inc., an Austin, Texas company, is currently planning to build an entire subdivision in Texas using its 3-D printing technology ...
Anyone familiar with the construction industry knows that retainage – or money held back from payment until a later time – is a tool that project owners and general contractors have long used to protect against contractor nonperformance or other project risks ...
Renewable energy developers and contractors have been anticipating the Treasury Department and IRS’s initial guidance on what is required to satisfy the prevailing wage and apprentice requirements under the Inflation Reduction Act (IRA) ...
Kudun and Partners represented Altitude Development Co., Ltd., one of Thailand’s leading real estate development, in the offering of newly issued shares to Lotus Global Investment, a foreign PE fund, representing 12.49 percent of its total issued share capital, with a transaction value of THB 500 million (approximately USD 13.8 million). This transaction is an important milestone prior to the client’s initial public offering in the Stock Exchange of Thailand ...
As we take stock on 2022, and look forward to 2023, let’s briefly reflect on some of the topics that are current with our Living sector teams and clients ...
The UK’s purpose-built student accommodation (PBSA) sector remains resilient despite months of economic and political uncertainty. “The fundamentals of the operational market in PBSA are very strong. I don’t think anyone is sat there saying that we don’t have great universities, we’ve got great occupancy and we’ve got growing demand,” outlined Alex Pease, executive director at Watkin Jones Group, at a recent Shoosmiths’ roundtable ...
From gyms, pools, gardens and co-working spaces to group litter picking, charity fund raising and book clubs, the build to rent (BTR) sector is founded on the provision of social value and community. The over-arching purpose of BTR is to create thriving communities of tenants whose willingness to utilise space and engage with neighbours goes beyond the mere occupation of a building ...
The Building Safety Act 2022 (BSA) received Royal Assent in April 2022. Its aim is to improve building safety across the built environment, with a focus on the residential sector. The BSA is being implemented in stages and a number of areas within the living sector fall under its regulatory umbrella. The government recently confirmed its intention for purpose-built student accommodation to be subject to the new regulatory regime ...
Kudun and Partners’ real estate practice team continues to take part as the author for the Thailand Chapter of The Legal 500 Country Comparative Guides, published in December 2022 to provide an overview of the industry’s latest applicable laws and regulations in Thailand ...
As previously discussed, the federal district court deciding Christian Bruckner’s lawsuit to enjoin the Infrastructure Investment and Jobs Act’s set-aside of 10% (around $37 billion) of transportation funding for “small business concerns” owned and controlled by “socially and economically disadvantaged individuals” issued an order directing (1) the parties to submit supplemental briefing describing the “administrative and implementation of the DBE p
In the decision in 9058-4004 Québec inc. c. 9337-9907 Québec inc.1 rendered on October 21, 2022, the court granted compensation to a subcontractor for its extrajudicial fees further to a general contractor?s unfounded contestation of its claim as part of a hypothecary action. The facts In May 2019, Portes de garage Citadelle Ltée (?Citadelle?) and general contractor 9337-9907 Québec inc ...
In the Autumn statement, the chancellor confirmed that “despite the economic pressures we face, we remain fully committed to the historic Glasgow Climate Pact agreed at COP26 including a 68% reduction in our emissions by 2030”. The construction industry has a big role to play in achieving this target by making buildings more energy efficient and reducing embodied carbon emissions during a building’s lifecycle ...
Fundamental changes to the housing law regime in Wales took effect on 1 December 2022 when the Renting Home (Wales) Act 2016 comes into force. New form of rental agreement The Renting Home (Wales) Act 2016 (the “Act”) introduces a new form of rental agreement for residential property in Wales known as an “occupation contract” ...
How can investors, developers and the public sector find value in an ever-changing environment? This was the big central question forming the basis for EG’s recent Scottish Cities Live event, of which Shoosmiths was a sponsor ...
pAs many of our readers know, a recurring theme in the industry is volatility and market uncertainty. Like recent quarters, the impact of inflation, Federal Reserve action, and interest rate movements continues to create uncertainty. In light of these conditions and declines in stock prices, we have observed many clients exploring less traditional ways to raise capital. Our corporate, financing, private equity and tax practices have been active in assisting in these efforts ...
Following the issuance of Prakas 003 on 26 January 2022 on the Rules for the Management, Establishment, and Functioning of Trusts (“Prakas 003”), on 3 November 2022, the Non-Banking Financial Services Authority (“NBFSA”) issued Prakas 052 regarding the Accreditation of Valuation Companies and Valuation Specialists in the Trust Sector (“Prakas 052”) in order to ensure the accuracy of the existing registered trust in Cambodia ...
