Insights

Real Estate News Roundup - May 2021

Posted Wednesday 2nd June 2021


Debenhams flagship to be redeveloped 

The latest development in the high-street will see Debenhams convert their flagship store on Oxford Street into a new retail and office scheme. The refurbished building will contain three stories of retail space alongside a flexible office space and mixed-use areas.

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COVID-19: The relationship between landlords and tenants 

As bricks and mortar “non-essential” establishments were ordered to clos  and measures were introduced by the Government, it has had a substantial impact on real estate litigation.

Joelson’s Real Estate Litigation team have outlined the key developments and where they now leave the relationship between landlords and tenants.

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New land sales guidance from RICS

New guidance has been published by RICS detailing how members should measure, define and refer to land being sold. The guidance focuses on three key areas: the land ownership area, site area, and net development area. Look out for it from the 7th August.

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Marks & Spencer ramping up store closures 

British high-street icon Marks & Spencer has announced it is to push ahead with the closure of multiple stores following the trend set by other big retailers. Online sales have increased for M&S and the company has declared losses of £200m, suggesting the retail outlets are causing more harm than good.

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Government calls for consultation on new residential developer tax

The government is calling for views on the new residential developer tax scheme that aims to set aside funding to support the cost of cladding remediation. The tax was first announced in February and now up for review are the proposed features of the tax.

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Construction industry gathers gradual momentum

Despite the number of projects started still being below that of pre-covid levels, data shows that the industry is gradually recovering. Interestingly, the strongest growth is coming from major, more valuable projects.

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This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.


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