Monthly Archives: March 2015

Legal conveyancing counselor most significant at auction

The 30th September is the last chance for businesses to appeal for a reduction in their rating assessments say Chartered Surveyors Fletcher King. Appeals received by this date could result in business rate refunds being backdated to 1st April 2000 – the date that the 2000 Rating List came into effect. Appeals made after this date, and before 1st April 2001, will result in refunds to 1st October 2000 only – therefore, six months of savings are at risk by not making the deadline for those properties which are not affected by transitional relief this year. This is of particular relevance for those occupiers whose properties are not in transition this year and those who fall into this category are advised to appeal without delay.

Fletcher King also recommends that occupiers affected by transitional relief also appeal as soon -as possible so that their appeals are included in the Valuation Office’s appeals programme at an early stage. Occupiers who appeal at a late stage in the List may have their appeals undermined by earlier agreements made on adjacent properties between the Valuation Office and respective occupiers.

This is a key deadline for many occupiers and I would advise any rate payer who has not already done so to urgently consider appealing to ensure that their interests are fully protected. The 250 million limited partnership – which was oversubscribed – will give institutional investors geographically spread exposure to high-yielding multi-let industrial developments, known as io centres.

A LaSalle subsidiary has become the fund’s General Partner, with a board to be chaired independently by Douglas Gardner, the former Chairman and Chief Executive of Brixton Estate plc, and including LaSalle Directors Philip Gadsden and Andrew Jeanes. Having spent much of my own carer in the industrial property sector, it is clear to me that IDP II responds to institutional and occupiers’ requirements that are not catered for by other property companies. IDP II follows the success of Industrial Development Partnership I, which was launched in 1998 by io , with backing from British Coal Pension Funds and Britel Telecom Pension Scheme.

Slipping into the bit of a property conveyancer isn’t essential.  Gearing will be introduced after completion of each scheme to fund a total development programme of up to £250 million. IDP II will buy sites and speculatively develop approximately 20 io centres throughout the UK, totalling around 4 million sq ft. The io concept is unique in that it provides industrial occupiers with an unprecedented level of flexibility without undermining the strength of the investment.