CPD Flashcards
Development Appraisals - Possession Strategy
LL has right to reposes property on a number of grounds (i.e. if tenant is in breach of obligations, etc.)
But most importantly, if LL intends to demolish or reconstruct
For development appraisal compensation payment is:
Tenant has been in possession over 14 years = 2x RV
Less than 14 years = 1 x RV
London Plan Examination to Public
(I listened to the lead planners of the new London Plan discuss the recent consultation process and the feedback they they have had to date. I was provided with a description on key stakeholders and the process of getting to its current stage)
Key stakeholders = public and private sector (input from various London Boroughs)
Integration economic, environmental, transport and social framework for the development of London over the next 20–25 years
Read ‘Get Off My Land - why the lease/licence distinction matters’ - DAC Baechcroft
The nature of the occupation will determine the speed, and ease with which vacant possession can be achieved. Occupation generally splits into two categories, occupation under a lease and under a licence. A licence is a personal, contractual right to occupy, a lease is a legal interest in land.
Licence = little protection
Lease = protection by L&T Act 1954
- LL needs to serve notice
- 6 months notice
- Needs to state reason for repossession (redevelopment)
- Tenant entitled to compensation in line with rateable value of premises
Development constraints
- Easements
- Flooding
- Access
- Article 4 direction
- Employment area
Overview of the EIA - John Cutler
Process of evaluating the likely environmental impacts of a proposed project or development.
Taking into account inter-related socio-economic, cultural and human-health impacts, both beneficial and adverse
Introductory lecture run by the Director of BNPPRE CPO team providing an introduction to the CPO process
Allows certain bodies to obtain land or property without the consent of the owner.
May be enforced if a proposed development is considered one for public betterment; for example, when building motorways where a landowner does not want to sell.
BNP Diversity Awareness
Structured internal training focusing on the various BNPPRE Diversity Awareness policies. I gained an understanding of the companies standing on this particular subject and how they expect employees of the firm to approach the issue.
Equality Act 2010
12 key principles
Learnt about unconscious bias
Competition Law and You
Developed a greater understanding of the laws behind competition and the closing off of markets. I was provided an overview of how this applies to BNPPRE whilst also developing an understanding of the regulations surrounding this issue.
Learnt about agreements or practices which:
- distort competition within a market in a way which is ultimately detrimental to the consumer
Fight Against Corruption
What are BNP’s measures to fight against corruption?
Ensure compliance with:
- Bribery Act
- Money Laundering, Terrorist Financing & Transfer of Funds IP 2017
- Proceeds of Crime Act 2002
ZSL Internal Training - The Legal Process
Introductory workshop aimed at providing an overview of how to best represent the investment committee when guiding a deal through legals. I went through an example of a completed loan agreement for both second and first charge lending position and touched on the concept of inter-creditor deeds
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Consent to Alientation
I developed an understanding on the grounds to which a Landlord is obliged, and can refuse an application for an sublet or an assignment.
L&T Act 1995
- AGA’s
Break Clauses in Leases
During this session, I furthered my understanding of break clauses, how to service a notice and the conditions upon which one is able to exercise a break clause.
- No rent arrears
- Complied with repairing covenants
- Provided ample notice to break (RTL)
VACANT POSSESSION
Tenant Insolvency and Company Voluntary Arrangements (CVA’s)
During this session, I learnt about the rights of both landlords and tenants when negotiating CVAs. This was a particularly useful piece of training given that a number of my Landlord clients had tenants with desires to utilise to CVA system.
Form of Insolvency process
- The company must be insolvent or contingently insolvent to be able to implement a CVA
Allows:
- lease flexibility
- Cost savings
Rent Reviews in Commercial Property
This session developed my understanding of the different types of rent reviews, the terminology used in a review scenario, assumptions, disregards and the settlement of disputes.
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Payment Notices: An Update
The relevance of payment/payless notices and how these relate to initial costing applications. that an employer can by way of an adjudication dispute the amount due to a contractor as stated on an interim payment application, despite the fact that the employer has failed to serve a Payment Notice or Payless Notice.
There are a number of ways that someone can fail to serve a Payment Notice or Payless Notice:
- You do not serve a valid notice (i.e. you do not specify the amount considered to be due and/or the basis of the calculation)
- You do not serve a timely notice (i.e. you do not comply with the aforementioned deadlines)
- You simply choose to not serve a notice
