2013 development appraisal - site assembly & possession strategy
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Site Assembly & Possession Strategy
Speaker: Simon Wainwright BSc FRICS
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2013 Lecture SeriesLecture Date
An introduction to development appraisal & residual valuations:
7th February 2013
Cash flow techniques and sensitivity analysis:
13th February 2013
Site Assembly & Possession strategy :
25th February 2013
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Site Assembly & Possession Strategy
• Identifying owners & occupiers• Terminating tenancies – grounds for
possession• Assessing compensation• Negotiating break clauses• Compulsory Purchase Orders
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Site Assembly & Possession Strategy
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Authorised Occupiers
• Tenants – With / Without Security of Tenure• Sub-tenants• Assignees• Licencees• Trespassers
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Landlord & Tenant Act 1954 Part II• When a tenancy reaches its contractual
expiry date, the tenancy continues by “operation of law” until determined in accordance with the Act.
• Statutory right to lease renewal
• Lease terms to be agreed between the parties or referred to the Court
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Landlord & Tenant Act 1954 Part II• There must be a tenancy• The tenancy must relate to the premises• The tenant must carry out a business at
the premises• The tenant must occupy the premises for
the purpose of a business
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Grounds for oppositionA. Breach of repairing covenantsB. Persistent delay in paying the rentC. Breaches of other obligationsD. Availability of alternative accommodationE. Sub-tenant – possession required for
letting or disposing of the whole propertyF. Landlord intends to demolish or
reconstructG. Landlord intends to occupy the premises
himself
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Consequences & CompensationWhere tenant has been in possession > 14 years = 2 x Rateable Value
Where tenant has been in possession < 14 years = 1 x Rateable Value
Compensation for tenant’s improvements dealt with under the Landlord & Tenant Act 1927
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Other Occupiers
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Rights & Easements
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Compulsory Purchase
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Follow UsJ Peiser Wainwright
Website Jpeiserwainwright.com
Facebook /jpeiserwainwright
Twitter @JPWNews
Google+
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Site Assembly & Possession Strategy
Speaker: Simon Wainwright BSc FRICS