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There are a number of major infrastructure projects planned in our region. Some of these will have a significant effect on the landscape in coming years and have implications for our clients’ landholdings.
Key projects planned or underway are:
Oxford to Cambridge Expressway
Two viable options for the Oxford to Cambridge Expressway are currently being considered and an announcement is expected autumn 2019 with the preferred route due to be confirmed in autumn 2020.
East/West Rail (western section): Bicester – Bletchley
A Public Inquiry was held in relation to the Transport and Works Application for construction works to re-open the western section of the East/West Rail link and it is anticipated that a Transport and Works Act Order will be confirmed in due course.
A14 Cambridge to Huntingdon Improvement Scheme
Works continue on this stretch of the A14 and it is expected to be fully operational by end of 2020.
Northampton Strategic Rail Freight Interchange
A Public Examination closed in April 2019 and the examining authority will make a recommendation to the Secretary of State in October 2019.
A428 Black Cat to Caxton Gibbet Road
Consultation on the preferred route has now been completed and an updated design is in preparation.
A421 Eagle Farm Roundabout, Milton Keynes to Junction 13 M1 Link Road
Works commenced in spring 2019 to dual this section of the A421 link road which are due for completion late 2020.
We will continue to monitor progress on the projects and provide updates when significant changes are made.
If you would like more information or to find out how we can help you if you feel that any of the infrastructure projects will affect you, please contact Andrew.
Auction House Robinson & Hall is part of the UK’s leading property auctioneer, Auction House UK. 846 lots were entered into September auctions this year, more than in any month in the 12 year history of the company, and this is likely to be a national record for the industry.
Focusing on Auction House Robinson & Hall, we have sold over 80% of lots this year so far and have a 27 lot auction next month (on 8th and 10th October), over 20% more than the October auctions last year and more than other auctions this year.
Commenting on the results, Charles Lovell, Head of Auction House Robinson & Hall, said: “These figures prove that despite media reports of problems in the property market, Auction House continues to buck the trend. The most recent statistics suggest that the auction industry has suffered a fall in sales of more than 10% over the last 12 months, which means that we are currently outperforming the sector by around 15%.”
Charles continues: “If you are considering sale by auction and would like to sell your property before Christmas then act quickly. We are now taking lots for our December auctions on 4th and 5th December; deadline to enter a lot is 8th November. Owners of vacant properties and land should take note that it is much better to sell your properties prior to the winter weather setting in.
Upcoming taxation changes are driving many investors to sell off their rental properties. Those with buy-to-let mortgages really should sell with tenants still in situ. That way, mortgage repayments can continue to be made from the rent received. There are still large-scale landlords buying such stock, and plenty of refurbishment specialists who would acquire and carry out improvement programmes.
The stock being offered at our auctions is very diverse, and with the higher number of lots we are now listing, buyer opportunities are greater than ever before.”
Our auction results can be viewed here. A good example of a lot selling particularly well is the former public convenience in our August auctions which sold for 6 times the guide price! Our auctioning your land booklet also provides some fantastic case studies of successful land sales.
For further information about auctions or to book a no obligation auction appraisal, please contact Charles.
In order for a new public right of way to be claimed, there are several tests used to satisfy that there is sufficient evidence the route has been enjoyed by the public without challenge from the landowner.
Firstly, it must be shown that the use of the route has been undertaken for a minimum period of 20 years, without interruption. Secondly, it must be proven that the route has been used without secrecy, force or the landowner’s permission.
The onus is on the landowner to prove that they have actively tried to prevent third parties from acquiring rights over their property. It is therefore imperative that landowners are diligent and proactively show that they have no intention of allowing a new public right of way on their land.
There are several ways to do this:
1. Signs & Notices
Erecting a sign or notice which explicitly states that public access is prohibited can be effective, but it must be maintained and sited near the land that it is looking to protect.
2. Preventing Access
Locking gates or blocking the access to the route can help to express that the landowner does not want that section of their land dedicated as a public right of way.
3. Landowner Statements
Completing a Landowner Statement under Section 31 (6) of the Highways Act 1980 (for public rights of way) and/or Section 15A of the Commons Act 2006 (for village greens). The statement is lodged with the relevant local authority as a record of the public rights of way across a property.
By depositing a statement with the local authority, a landowner can legally protect themselves from inadvertently granting any new rights of way on their land. However, this does not affect any existing claims of 20 years’ use. Effectively, the landowner statement draws a line in the sand to prevent any new dedications from being made and is renewed every 20 years.
4. Permissive Rights of Way
If a landowner gives the public permission to use a particular route, then the public’s ability to claim a public right of way is limited. This may be useful if there are particular routes which the landowner is willing to allow the public to use but where they do not want that right to become permanent. It is important to document permissive paths and also erect signs on the land confirming the use of the route is by permission.
Although access to the countryside via public rights of way can be beneficial in increasing the exposure of rural landscapes and interest from the public, it is important that the routes used are in locations which allow the landowner continued use of the land with minimal interruption. Therefore, if landowners wish to limit the designation of new public rights of way they must be proactive in their approach to managing public access.
For more information or to find out how our Rural Property & Business department can help you, please contact Katie.
Permitted development rights
A significant judgement was recently passed by the High Court which confirmed that local planning authorities do not have the power to delay prior approval for barn conversions.
In the case pitting Warren Farm (Wokingham) Limited v Wokingham Borough Council, the latter requested an extension of time to determine the application before refusing it. However, the judge concluded that “The effect of time passing without a decision is that the development can proceed.”
This is an important judgement as local planning authorities will be aware of the consequences of delaying decisions on prior notification applications which means that such applications will need to be prioritised and thus speed up the planning process.
Community Infrastructure Levy (CIL) regulations
Amendments to the Community Infrastructure Levy Regulations will come into force on 1st September 2019. The Government believes that the amendments will make the system of developer contributions simpler, more flexible, fairer and more transparent. The Ministry of Housing, Communities and Local Government‘s Planning Update Newsletter published in July 2019 summarises the important changes to the CIL Regulations which can be viewed here.
In our view, subject to the details of the CIL schedules which will be adopted by individual councils, the amendments will assist developers to have a better understanding of how CIL contributions impact a project’s financial viability.
Consultations on a draft document for the measurement of land for development and planning purposes
The Royal Institution for Chartered Surveyors (RICS) has recently commissioned draft guidance on the measurement of land which seeks to provide clearer definitions for the measurements that are widely used in the property and planning sectors, advocating worldwide consistency.
It proposes five definitions of the global measurement of land as follows:
Land area: refers to the legal title area of land and is the legally demised area of land.
Site area: refers to the area of land used for planning application purposes and is the area to which any permission for development relates.
Net development area: refers to the area from which financial value is directly derived, by virtue of either being income-producing or for sale.
Plot ratio: this is the ratio of Gross External Area (GEA) of a building or buildings at each floor area, under the International Property Measurement Standards, to the site area and is already used as a standard metric for planning and design in certain sectors.
Site coverage: this is the ratio of the building footprint’s GEA to the site area at ground floor level and again is already a standard metric for planning and design in certain sectors.
The consultation process runs until 17th September 2019 and details can be found on the RICS website here.
If you would like more information on the above or would like to find out how our Planning & Development team can help you please contact Andrew, Abel or Alice.
There are a variety of commercial uses which can revitalise your redundant buildings and help to maximise their income and potential.
Some of these potential uses are:
Each of these uses brings a range of demands and rewards and it is important to ensure that the selected use fits in with your existing enterprise.
By utilising these redundant buildings for a new purpose, they can be turned into facilities for new business and income.
Using the buildings for a commercial purpose can spread your income sources across different business areas and can therefore reduce your risk from relying on one sector of the market.
Once these buildings are let, they can be a continual income source which may not be impacted by the same elements as your existing business, therefore spreading your risk. The letting of a property for commercial purposes can require minimal input and involvement from yourselves for a substantial reward.
Using a building for an alternative purpose can motivate you to complete the repairs that have been required for the building for a period and provide the income for ongoing maintenance.
Using a building for a commercial purpose can help you maximise your property’s potential income and can future proof your assets.
What you need to consider:
Robinson & Hall can assist by providing advice on:
For more information or if you have a redundant building you would like advice on, please contact Tessa.
Marketing a commercial property for sale or rent can be a confusing and time-consuming process. It is essential to ensure everything is in place to achieve the maximum return from your property.
Using a professional commercial agent, such as ourselves, to assist you in the process can alleviate many of these concerns and make sure the maximum reward is achieved out of your property. We have highlighted some of the areas and potential issues where we can assist with the sale/letting of your property:
Price
We have vast knowledge of the current market so can make sure the best price is achieved, the most suitable tenant/buyer is found and the time the property remains vacant is kept to a minimum.
Marketing
We have access to a wide range of property marketing platforms enabling us to expose your property to a wide audience. These would be costly and some inaccessible if you market the property yourself.
Understanding the legislation
We understand the required legislation associated with both renting and selling a property so can advise and organise these prior to the sale/letting. This can include things such as an Energy Performance Certificate and planning advice.
Advice on timings
We have a strong understanding of trends and how wider factors influence the market so can analyse the market and advise on the best time to advertise your property. We also have an insight into the possible period it will take to dispose of your property. By looking at all the factors, we can make sure the best can be achieved from your property.
Preparing the property for marketing
We will prepare your property for marketing. This includes checking all the correct documents are in place and the property is correctly presented throughout the marketing process.
Access to clients
We have access to a wide range of clients and contacts so can market your property directly to them. This can speed up the process and reduce the amount of tenant/purchaser checks which need to be completed.
Tenant/buyer diligence
At the commencement of any transaction with a new tenant/buyer, we will complete in depth checks into the covenants of the prospective occupier to ensure there are minimal issues going forward.
Time saving
Using us will save you a lot of time by not having to complete the accompanied inspections, liaising with the potential occupier, agreeing terms and corresponding with solicitors. Therefore, you will only receive concise and tailored updates at crucial milestones as agreed between us.
These are just some of the key areas where using us will ensure the maximum reward and minimal hassle for yourself when looking to both let out and sell your commercial property.
To book a no obligation commercial appraisal or to find out more information about how we can help you, please call Tessa.
1,733 lots have been sold through Auction House from January to June this year, an increase of 10% compared to the same period last year. Our auction department, Auction House Robinson & Hall has sold 79% of lots it has offered so far this year.
Commenting on the figures, Charles Lovell, Head of Auction House Robinson & Hall, said: “Not only have we sold more lots than at any other time of Auction House’s 12 year history, but we’ve done so when the latest indications are that nationally the sector is down by around 10%. To be able to buck this trend in such challenging circumstances, and by such a large amount, is a remarkable achievement.
The results suggest that the Auction House model, which is to sell local properties to local buyers through regional auction rooms, is providing precisely the format the public are looking for. Whilst online auctions will continue to supplement our lot numbers, the best choice for most sellers will be a salesroom. For buyers too, the auction room is generally preferred because it has all the energy and excitement that sitting in front of a computer screen simply cannot replicate.
Auction House Robinson & Hall’s next auctions are on 7th and 8th August at Luton and Milton Keynes, with 16 lots offered which includes apartments, bungalows, a maisonette, a range of houses, a mixed-use building, land, a former public convenience and a hotel.
Charles comments “We are now taking lots for our October auctions – deadline is 13th September so don’t delay.”
If you would like to find out the benefits of selling your property at auction and book a no obligation auction appraisal, please contact Charles.
Shillington Congregational Church was built in 1850s and over a period of time had been refurbished. However, the congregation became increasingly concerned over the condition of the floor in the main chapel area. Despite repeated attempts at resolving decay in the floorboarding, our clients had been unable to resolve the problem.
In January 2019 the church commissioned Stuart Brown, Building Surveyor at Robinson & Hall, to investigate the problem and provide a remedial solution. Our report determined that dampness in the sub-floor structure and ground was rising through the floor to sweat on the underside of plastic backed carpet tiles. This resulted in conditions ripe for fungal decay. The report recommended a complete replacement of the floor with a new concrete floor incorporating a damp-proof membrane and external wall damp-proof treatment. In the interim, sections of the chapel were cordoned off to prevent people falling through the floor.
Following preparation of a specification and obtaining tenders from local contractors, we were instructed to oversee the construction work. Repairs commenced at the end of April. During the work it was found that this remedial work had been carried out just in time as decay had begun to spread to the base of columns supporting the gallery. After seven weeks’ work, the congregation can now use the chapel area.
For more information or to discuss how Robinson & Hall can help you, please contact Stuart Brown.
On 5th July 2019, the Office of Tax Simplification published a long-awaited second report on Inheritance Tax (IHT). Within the report are several changes which could affect farmers and landowners going forward:
Lifetime Gifts
The recommendation which has received the most press is to simplify lifetime gifts by reducing the number of years before a gift is exempt from IHT from seven to five years. However, at the same time the proposal is to remove taper relief which would mean the person making the gift must survive the full five years for the IHT exemption to apply.
Business Property Relief
A recommendation which could have a significant effect on farming businesses relates to changes in the threshold applied when considering if a business is wholly or mainly of holding investments.
Currently a number of farms and estates rely on Business Property Relief (BPR) to gain IHT relief on investment properties such as cottages or let buildings that would not otherwise qualify. The current test is that if at least 50% of the business is considered trading then BPR may be gained on both the trading and investment parts of the business. The report recommends, to tie in with other taxes, raising the trading threshold to 80%. This would be an important change as, if you did not meet the raised threshold you would not get IHT relief on investments, but you would also lose the IHT relief on trading activities that do not qualify for Agricultural Property Relief (APR). Therefore, should this change be taken forward, many fewer businesses may benefit from BPR than at present.
Capital Gains Tax
The recommendation that is likely to have the biggest effect on farmers though is the proposed removal of the Capital Gains Tax (CGT) uplift.
At present property is inherited at the market value on the date of death and, therefore, if a property is sold shortly after it is inherited there will usually be no CGT payable. If the asset qualifies for an IHT relief, the asset has therefore been inherited and sold without any tax being paid.
As an example:
Mr Smith, a working farmer, purchased his land in 1984 for £1,500. We will assume the land is now worth £10,000 per acre.
If he sold the land today, he would currently pay in the region £1,700 per acre in CGT. However, if he was to hold the farmland until his death and then his children were to sell the farmland at £10,000 per acre, no IHT would be payable as it should qualify for APR and no CGT would be payable due to the CGT uplift.
There is a feeling that this is over generous and that it is holding back succession in agriculture. Succession in agriculture is a common theme in a number of recent Government consultations including the Tenancy Reform Industry Group’s consultation into land occupation and the consultation for the Agriculture Bill and, therefore, is likely to be something the Government is keen to pursue. The proposal is that the CGT uplift could be removed, where an asset has benefited from an IHT exemption, by the property being inherited at the historic base value rather than the market value.
This change would remove the main advantage of holding farmland at death. In fact, it may be better from an IHT planning scenario to pass on qualifying assets early in life in order to qualify for a higher nil rate band. With a continued focus on what should and should not qualify as a farmhouse for APR there may be advantages in the future of doing exactly the opposite to what is so common now.
The Chancellor is currently reviewing the report before launching consultations later in the year. At Robinson & Hall we advise many of our clients on estate and succession planning as this is one of the most important aspects of any business. Whilst this recent report may signify changes are coming, this should not mean a delay in estate planning but should be a point of discussion.
If you would like assistance with estate and succession planning, please contact Andrew Jenkinson.
Managing your own commercial property can be a stressful, time consuming and frustrating experience where at times it can feel like the demands are outweighing the rewards. We can manage your commercial property and free up a lot of these issues, ensuring that the maximum rewards can be obtained.
Some key benefits of using us:
We build up a good working relationship with the tenant, gaining important information about the tenant’s business and predicting what they may need in the future. This helps with the future planning of the investment and encourages good tenants to stay at the property for much longer periods.
Our knowledge of the industry, of the tenant and the day to day workings of the property assist with the forward planning of your property to ensure the maximum is obtained. Managing each of the tenants and their upcoming lease events and expiry ensures that they are promptly and efficiently dealt with, gaining the maximum out of the property. It also assists with vacancies being kept at a minimum and shorter vacancy cycles.
We have detailed knowledge of the statutory requirements and areas of property compliance to ensure the landlord and property are fully compliant.
Before selecting a new tenant, we ensure that in-depth background checks are completed on all areas of a perspective tenant’s business. This has proven to minimise future tenant issues and create a good tenant mix for your investment, leading to a higher quality tenant and better tenant retention.
We make sure that all invoices are prepared and sent out well in advance, monitoring tenant’s payment history and promptly chasing arrears where necessary. This ensures a tighter rent collection and allows us to deal with any issues as soon as they arise.
Through regular detailed inspections, inspection reports and photographic records, a detailed history of the condition of the property and tenant’s business patterns can be built up. This can assist with foreseeing a tenant’s business strategy and movements.
Dealing with contractors can be a costly and time consuming process. We have a detailed supplier list of reputable and compliant contractors to supply competitive quotes. We will obtain comparative quotes, monitor the works and deal with any feedback from the tenant to ensure the job is completed to the highest standard at the most competitive cost.
Having the type of report, the regularity and details of your choice can ensure you have the exact information for your records that you require. This can assist with financial planning and record keeping for your commercial property in a concise and regular way. We also keep detailed tenant records which are vital in the tenant management and forward planning of the property.
There are times where it may be required to enforce the terms of the lease. By having us on board, we can review the lease and firmly and efficiently ensure that the terms of the lease are enforced.
We can put together a detailed plan of the required upcoming works for the property to ensure costs are planned and expected, the property is well maintained and unexpected costs are kept to a minimum.
All these key benefits inevitably improve landlord and tenant relations and ensure the landlord can be more impartial and the maximum is achieved out of the property. It allows the landlord to have more time to deal with other aspects of the business and investment.
If you are considering using commercial property management please contact Tessa Smith.
