Commercial Property Development - 2019 Conference
This comprehensive property development conference will examine a wide range of important and topical issues through its panel of speakers, all of whom are highly regarded experts in their areas of expertise.
This conference will cover the following topics:
9.30am - 10.15am: Overage - Avoid the Elephant Traps
Peta Dollar, Freelance Lecturer, Trainer and Writer
There have been a large number of recent cases on overage, which has become a ‘hot topic’ - and one that is all too easy for the lawyer to get wrong when drafting.
This session will highlight the main traps for those drafting and negotiating overage provisions, focussing mainly on the lessons to be learned from recent cases, including:
- Triggers for payment of overage
- Issues when combining reasonable endeavours obligations with overage
- Formulae for calculating overage
- Methods for securing overage
- Lessons to be learned from cases like Sparks v Biden, Minerva v Greenland, Burrows v Ward Homes, Gaia v Abbeygate, London and Ilford v Sovereign
10.15am - 11.00am: Vacant Possession for Redevelopment & the Landlord & Tenant Act
Toby Watkin, Landmark Chambers
The efficient recovery of vacant possession of leasehold business premises has always been a central element of successful site assembly prior to redevelopment. A landlord seeking to redevelop business premises has an absolute right to recover possession, despite the general security of tenure afforded to business tenants by Part II of the Landlord & Tenant Act 1954.
Nevertheless, attempts to recover possession still frequently go wrong because of a failure to appreciate the detailed technical requirements of the Act. Careful and early forward-planning is essential to ensure that the landlord’s claim to possession does not fail, and redevelopment projects are not delayed.
As well as identifying the potential pitfalls for practitioners operating in this area and suggesting strategies to ensure swift success in all cases, this session will take into account the effects of the recent judgment of the Supreme Court in this area in the case of S Franses Ltd v Cavendish. Topics covered will include:
- Exactly what the landlord must prove to satisfy ground f, and how to do so
- The relevant timescales and the implications for project scheduling
- Strategies for complex sites
- Frequently made mistakes, and how to avoid them
- The implications of S Franses Ltd v Cavendish
11.15am - 12.00pm: Recent UK Tax Developments Affecting Investment in UK Property
Sarah Squires, Old Square Tax Chambers
Even though each year seems to bring changes to the UK tax rules that apply to real estate, the last twelve months have been exceptional - with significant reforms to the tax treatment of non-resident owners of UK real estate have been announced, consulted on and delivered (in some cases, overturning what has been established UK tax policy for over 50 years).
This session looks at some of the key recent developments in how the UK taxes owners of real estate, including:
- The new CGT rules on disposals of UK property by non-residents
- The special ‘fund’ elections for CGT (including the transparency election)
- Non-resident landlords and the move to corporation tax
- Recent SDLT developments
12.00pm - 12.45pm: Development Finance
Rufus Ballaster, Carter Lemon Camerons LLP
Very few property developments run on a fully cash funded basis - to buy build and sell, there is a need for serious amounts of cash normally raised by combinations of equity, primary, secondary and/or mezzanine debt.
This session will consider:
- Options and conditional contracts to delay need for cash
- Joint ventures among equity holders
- ‘Day One’ drawdown - either straight mortgage or land loan aspect of combined finance
- Construction Financing and drawdown procedures
- Off Plan Sales - what should happen to deposit funds
- Exit routes
- Waterfall provisions once a project starts producing cash
12.45pm - 1.00pm: Questions on Morning Session
2.00pm - 2.50pm: Easements - Update
Zachary Bredemear, 1 Chancery Lane
Whether new ones are needed for new buildings in a development or old ones bind land required for a development issues regarding easements can never be ignored and frequently come before the courts.
This session will cover:
- Diversion of routes
- Use of easements for ancillary land
- Fencing easements
2.50pm - 3.40pm: Important Construction Issues Impacting on Property Development
Peta Dollar, Freelance Lecturer, Trainer and Writer
This session will focus on recent developments in construction law and practice of significance to commercial property development, including:
- LADs and the law on penalties - Cavendish Square v El Makdessi, GPP v Solar
- Specific performance of construction contracts - Airport Industrial v Heathrow Airport
- Rights to use plans forming part of planning permission - Signature Realty v Fortis Developments
- Fitness for purpose obligations - MT Hojgaard v E.On Climate and Renewables, Williams Tarr v Anthony Roylance
- Assignment of building contract by way of security - Mailbox
- Letters of intent - Arcadis v Amec
- Practical completion - University of Warwick v Balfour Beatty, Mears v Costplan
3.55pm - 4.45pm: Closing Address - Planning & Environment Issues of Property Development
William Upton QC, Six Pump Court
The tension between the economic need for development, and the human need for housing, often run into conflict with public perceptions of an environment despoiled for profit. Developers must deal with cries of ‘Not In My Back Yard’ while the government needs to address the difference between NIMBYism on the one hand and ‘Not In Anyone’s Back Yard’ on the other.
These are challenging issues and ones which it is not yet clear that the new National Policy Planning Framework succeeds in addressing.
- Whatever happened to sustainable development?
- The National Policy Planning Framework
- The ONS and the problems with forecasts
- The problem with politics
4.45pm - Close: Questions & Answers
Please let us know if you wish to be notified when new dates are added for this programme