Real Estate Bulletin – May 2022

Highlights from the Queen's Speech

You can read our analysis following the Queen's speech on 10 May here.

In addition to the items covered in our article, there are plans to:

• reform the planning system to give residents more involvement in local development;

• a new power for local authorities to bring empty premises back into use and instigate rental auctions of vacant commercial properties in town centres and on high streets;

• install more electric vehicle charge points throughout the UK;

• modernise business rates; and

• reform the Electronic Communications Code.  

In a briefing paper, the Government notes its commitment to continuing its programme of leasehold reform.

The Levelling-up and Regeneration Bill 2022-23, which deals with some of the measures put forward in the Queen's speech, was introduced into parliament on 11 May 2022. It is a substantial Bill at over 300 pages. 

Points of note in the Bill include:

• provisions allowing for the creation of new combined county authorities in England;

• various planning reforms, including improved availability of planning data (with a focus on a move to digital data);

• the introduction of national development management policies that will take precedence over local plans in case of conflict;

• provisions relating to compulsory purchase, urban development corporations, environmental reports, enforcement and measures in relation to planning permissions;

• the introduction of a new Infrastructure Levy in England;

• further detail on rental auctions in relation to vacant high street property; and

• measures concerning obligations to provide information about ownership and control of land and information about land transactions.

In addition, the Bill places a legal obligation on the government in relation to the introduction of, and reporting on, a "statement of levelling up missions".

Further details on the Bill will follow as it progresses through Parliament.

May 2022 Building Safety update

In our May 2022 Building Safety update we look at the timeline for sections of the Building Safety Act (BSA) to come into force between May and October and include a visual summary of the key provisions of the BSA.

Works to existing buildings: real estate and construction issues

Watch our webinar on demand as we discuss some of the challenges and risks for both landlords and tenants where fit out works are being carried out within part of a larger commercial building.

We also look at the contractual and practical issues that can arise and discuss possible solutions.

Panel

• Alice Bell, Managing Associate, Simmons & Simmons

• Caroline Turner-Inskip, Partner, Simmons & Simmons

• David Lyle, Executive Director - Construction, Howden

• Andrew Russell, Supervising Associate, Simmons & Simmons

Watch on demand

Potential reform of capital allowances: Policy Paper invites views

The Government is inviting views on potential reform of the capital allowances regime.

At the Spring Statement, the Government published a Tax Plan which indicated that one area it is keen to review is the UK's capital allowances regime. The Government has now published a Policy Paper, "Potential Reforms to UK's Capital Allowance Regime", inviting views from the public. The Government is seeking responses at this stage to ensure there is adequate time to assess stakeholder views fully to inform any Budget announcements ahead of the end of the super-deduction in April 2023.

You can read more about this here.