Industry News - Commercial Property Law - West End rental prices 'collapse'

03/07/2009
Redundancy law queries 'could continue to rise'
The number of people seeking redundancy law advice could remain high over the course of the year, new data from the Chartered Institute of Personnel and Development (CIPD) has indicated.

03/07/2009
Discrimination law ruling made by House of Lords
The House of Lords has made a ruling on disability discrimination that may impact divorce lawyers in London.

03/07/2009
Heiress wins in pre-nuptial divorce case
The Court of Appeal has ruled that a German heiress should not have to pay her ex-husband the £5.8 million decided in their divorce settlement because of the pre-nuptial agreement that had been signed beforehand.

02/07/2009
'Dual discrimination' employment law changes proposed
A new employment law has been proposed by the government that it wishes to make part of the equality bill.

02/07/2009
Right to appeal for ex-wife in divorce case
A woman has won the right to appeal against a judge's decision to make her pay £5 million to her ex-husband, whose finances have been hit by the economic downturn.

Industry News

12/01/2009
West End rental prices 'collapse'

Rents for prime offices in London's West End have slid amid the woes of hedge fund managers, according to reports.

Property consultancy NB Real Estate has found that rents in the area fell by around 30 per cent last year, from a high of £120 per square foot at the end of 2007 to £85 at the same time in 2008.

James Gillett, director of Central London markets at NB Real Estate, said: "Investment banks and commercial banks have had it tough, but hedge funds are having an even tougher time."

Mr Gillett that the boom in the hedge fund sector meant they "paid scant regard" to the costs of the property they were taking on and they were prepared to outbid any competitors to secure prime properties.

However, the downturn has forced hedge funds to cut costs and renegotiate rental deals down.

Hedge fund Permal Investment Management Services holds the record rent of £140 per square foot in the West End for offices based at St James's Square, it has been reported.
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01/07/2009
NLA issues sale and rent back regulation warning
The National Landlords Association (NLA) has warned those in the sale and rent back (SRB) property market that there is just one month left for them to ask for the Financial Services Authority's permission to continue operating.

23/06/2009
Commercial property lawyers may be busier as revival predicted
The commercial property market in the UK is at the bottom, making now a good time to invest, it has been argued.

15/06/2009
Businesses 'at risk' of legal problems
A large proportion of small and medium businesses (SMEs) in the UK are vulnerable to the loss of a key employee, research has shown, something that may lead to problems such as insolvency.

12/06/2009
Time to seek property lawyer as London market hailed best?
London's commercial property market is one that has seen the price adjustment happen swiftly, it has been stated.

10/06/2009
Property law demand may rise as sector tipped to bounce back
Commercial property is likely to make a comeback in the next year as an investment asset, it has been predicted.

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