South Carolina Abandoned Building Incentives at Risk of Going Away
On July 17, 2024 I attended a webinar hosted by First American Title about the commercial real estate (CRE) market in transition. Here are some important takeaways. In the overall economy, inflation peaked in the summer of...more
The landscape of commercial real estate investment encountered substantial hurdles in 2023. Challenges such as sluggish rent growth, reduced transaction volume, and the emergence of potential debt-related distress impacted...more
The average vacancy rate for laboratory and research and development space across the top 13 U.S. life sciences markets stood at 9% in the second quarter, up more than four percentage points from a year earlier and more than...more
A roundup of news and multimedia from the Unfamiliar Terrain team: San Francisco - The Luxury Shopping Oasis Emerging in San Francisco’s Struggling Downtown (Wall Street Journal): Although local foot traffic may be down,...more
Amid strong industry objection to its proposed rental auctions scheme for vacant high street premises, the government has launched an open consultation to seek views on matters that will form part of the scheme, first...more
Following recent court decisions, the options available to an owner of empty business premises to avoid a liability for empty property rates have been reduced. This matters because no rates are payable for the first...more
The Court of Appeal overturned the decision of the High Court in the case of Capitol Park Leeds plc v Global Radio Services Ltd [2021]. The Court of Appeal found that a tenant had validly exercised a break clause which was...more
The two taxes in England on the occupation of property are non-domestic rating and, for domestic rating, council tax. Pre COVID, business rates yielded £30bn and council tax £36bn annually. Rates are payable on business...more
The Court of Appeal has ruled that rates will be payable unless a vacant building is beyond economic repair. Liability for empty rates for empty properties is governed by the Local Government Finance Act 1988 (LGFA...more