The property market in Dumfries and Galloway has continued to attract high demand from lifestyle buyers with a third of all property sales last quarter (Q4, Oct – Dec) being smallholdings, reports Galbraith.

Smallholdings with land up to 50 acres continued to attract heightened demand from buyers keen to relocate to the area from the rest of the UK, with three quarters being from south of the Border and a quarter being from within Scotland. Demand outstripped supply in this market segment highlighting the draw of rural living in Dumfries and Galloway.

The team in Castle Douglas recorded a 16 per cent increase in the number of viewings conducted during the final three months of the year compared to the same quarter the previous year. Double the number of prospective buyers also registered with Galbraith in Castle Douglas over the same period, indicating a healthy appetite from buyers keen to make their next move.

David Corrie, head of residential sales for Galbraith, located in Castle Douglas, said: “It’s encouraging to witness healthy property sales and buyer activity in our final quarter of last year.  As we enter the busy Spring selling season, the market is indicating a good level of competition from lifestyle buyers who remain attracted to the area given the quality of properties available and the value for money property in the region offers compared with many other parts of the country.

“Dumfries and Galloway is a stunning part of Scotland to live with buyers being attracted to the great outdoors and beautiful coastal scenery, from The Mull of Galloway to Gretna Green and everywhere else in between. With beautiful views and numerous paths for walking, cycling and wildlife watching, as well as offering opportunities for sailing and a wide range of water sports, the region really does offer a fantastic work-life balance for families, especially with hybrid working here to stay.

“It’s no surprise that small holdings are in particularly high demand, offering a sizable portion of land to allow owners to be more sustainable and grow their own, as well as offering ample outdoor space for young kids and their four-legged friends. We have buyers registered with us and ready to make their next move so anyone thinking of selling should take advantage of the current competitive market conditions.”

Currently for sale through the Agency Team at Galbraith in Castle Douglas offering a combination of rural and coastal living:

Balgowan Farmhouse & Steading, Ardwell, Stranraer, Dumfries and Galloway, Offers Over £325,000

Balgowan Farmhouse (B-listed) and Steading sits in a slightly elevated position with uninterrupted views over the surrounding countryside, Luce Bay and the coast beyond. The striking curved architecture with conical roof to the front sets this property apart from more traditional farmhouses in the region. Balgowan Farmhouse provides a blank canvas in its current condition however, it has the potential to be a stunning country home sitting in 2.74 acres of land, surrounded by open farmland and within walking distance of the beach.

The Old Lifeboat Station, Auchencairn, Castle Douglas, Offers Over £850,000

The Old Lifeboat Station is an idyllic coastal retreat in a breathtaking location with its own slipway, direct access to the sea and panoramic views of Auchencairn Bay on the Solway Firth. The B-listed property is nestled among six acres of garden and woodland, home to an abundance of wildlife, including red squirrels. Established in 1884, the property was converted and extended by the current owners in the late 1990’s to create an award-winning four-bedroom house.

Balgowan Cottages, Ardwell, Stranraer, Dumfries and Galloway, Offers Over £450,000

1 & 2 Balgowan Cottages offer a beach retreat with uninterrupted views over Luce Bay and a small paddock. Two semi-detached properties with a shared outbuilding, ‘The Bothy’, offering potential to convert the cottages in to one property, subject to relevant planning consent. The property is surrounded by open farmland with stunning views and numerous beaches close by.

Kirkeoch, Kirkcudbright, Dumfries and Galloway, Offers Over £250,000

Former farmhouse Kirkeoch, sits west of Kirkcudbright and enjoys breathtaking views of the Dee Estuary. Kirkeoch represents an opportunity for a buyer to create a wonderful family home in a sought-after area.

Property finance lender MSP Capital has launched a regular property podcast for the South Coast.

Aimed at industry professionals, the series is designed to offer expert insight and knowledge about market trends, challenges and opportunities in the region.

Each month, the podcast centres on a studio discussion with an MSP Capital director and other industry guests.

The first broadcast, now live, features Adam Tovey, MSP Capital’s Risk and Underwriting Director, Nigel Price, Chairman of Residential at independent estate agent Goadsby, and James Kidner, Partner at law firm Trethowans and a specialist in residential development.

In his introduction, host Stephen Emerson says the aim of the podcast is “to offer a fresh perspective from key figures in the property industry in the South of England and explore the challenges and, more importantly, the opportunities that are present within the market”.

The first half-hour edition covers a range of subjects including interest rates, Build to Rent, the impact of working from home on property demand in the South and the importance of SME developers in driving residential development.    

All interviewees highlighted how well property professionals collaborate in the region, particularly in the face of recent economic challenges and pressure points in the planning system.

Asked about the lending side, Adam signals optimism about the funding landscape in 2024 and stresses MSP Capital’s focus on relationship-led lending, adding: “Over the last twelve to 18 months, more traditional sources of high street lending have pulled back further, which obviously creates opportunities for others. We continue to lend. Support is there if you are building the right type of product and you have a good project and location.”

On the rationale for the podcast, Adam says: “MSP Capital has over four decades of experience in the industry and feel that the best way to be successful in property is to share knowledge, share ideas and share experiences.

“This new partnership will allow us to shine a light on the leading minds from the property industry across the South Coast. I look forward to meeting more guests in the future.”

Sharing their hopes for the year in the first edition, both Nigel and James are upbeat.

Discussing the drop in fixed-rate mortgage rates in January, Nigel says: “The start to the year was not what we were expecting, in a positive way. The cuts took people by surprise and bode well for the market this year. We’ve had pent-up demand – now, people just want to get on.”

James says: “After what was a challenging year, there are elements of good news in the mortgage market, with rates more under control. Positivity in the mortgage market is going to bolster enthusiasm for the year ahead.”  

Looking ahead to the whole podcast series, Rachel Bartlett, MSP Capital’s Head of Marketing, said: “There is a lot of industry knowledge within MSP Capital that we’ve been sharing through our Brunch & Learn events, and now through the podcast. I’m excited to see what topics we can bring to the forefront.

“With his 20 years of experience in journalism and keen interest in property, corporate finance and technology, Stephen was a perfect candidate to host the podcast and guide guests through the discussion.”   

Founded in 1981, MSP Capital is a principal bridging and development lender offering funding solutions to property professionals up to £20 million.

To watch and subscribe to the podcast, visit https://thebusinessmagazine.co.uk/podcasts/ or search ‘The Business Magazine Property Podcast’ on Spotify, Apple Podcasts, Amazon Music, Google Podcasts or PocketCast.  

As the high streets and shopping centres of the United Kingdom face unprecedented change, the insight of industry leaders like Scott Dylan, the co-founder of Inc & Co, becomes invaluable. In a world where the very fabric of consumer interaction is constantly being redesigned, Dylan’s anticipation of retail trends propels forward-thinking businesses towards a transformative horizon. With a focus on evolving retail spaces, his perspective sheds light on the changes in retail commercial property, urging stakeholders to embrace adaptability and customer-focused innovation.

Grasping the essence of current consumer expectations, Dylan charts a course for the retail industry that harmonises digital commerce with the tangible allure of brick-and-mortar stores. This synergy fosters environments where traditional retail strategies intertwine with a tech-driven approach, invigorating the marketplace and inspiring businesses to scale new heights. Those who succeed in anticipating retail trends will not only endure but thrive, crafting spaces that resonate with modernity and timeless appeal alike.

Tracing the Transformation of Retail Spaces

The retail industry has undergone a remarkable metamorphosis, tracking the footprints of its storied heritage to today’s bold advance into the digital age. Pioneers such as John D. Rockefeller and Thomas Edison pioneered the groundwork for what has become a bustling labyrinth of evolving retail spaces. These magnates set the parameters that are still pivotal to the designs and business methods that characterise the contemporary retail landscape.

Christianity has always been renowned for its historical evolution, from the simple market stalls that festooned the thoroughfares of ancient civilizations to the elaborate emporiums that symbolize modern commerce. Today, digital transformation has married the time-honoured practice of trade with the convenience and reach of the digital realm, sparking a new wave of economic development with far-reaching implications for the future of the retail industry.

In this relentless pursuit of progress, we have seen how traditional retail has been compelled to evolve with agility and creativity, reinventing itself in response to the inexorable march of technology. With the advent of advanced digital technologies, retail spaces have transcended physical limitations, allowing entrepreneurs to interact with customers on a global scale, hence redefining the essence of consumer experience.

Scott Dylan details this narrative transition from physical marketplaces to the digital storefronts of today. Through his lens, we recognise the ever-growing symbiosis of technology and entrepreneurship, a partnership that continues to drive the evolution of retail spaces.

This journey of retail space transformation is not simply a trend but an echo of human progression, where the essence of innovation has been and continues to be the primary catalyst for change. It is a journey that looks toward a future where the once clear lines between physical and virtual shopping experiences are increasingly blurred, reflecting the changing fabric of consumer expectations and the retail industry at large.

Adaptive Retail Environments and Customer-Centric Design

Scott Dylan’s vision for the retail sector epitomises the concept of adaptive retail environments, engineered around the core principles of customer-centric design. This future-forward approach to retail space development focuses on creating a seamless and engaging consumer experience. Informed by an in-depth understanding of the customer’s evolving preferences, these designs are nimble, ready to transform alongside ever-changing consumer behaviour and market trends.

Transforming retail architecture under Dylan’s guidance acknowledges the necessity for retail spaces to function as interactive shopping experiences. This dynamic allows consumers to move beyond the traditional transactions of yesteryear and step into a world where their journey is enhanced by real-world curation, interactivity, and specialised services tailored to their unique demands.

In response to challenges such as those posed by the pandemic, there is a clear imperative for retail to not just innovate but outpace the pressing demands of the era. Dylan envisions spaces that can pivot with agility, offering immersive and engaging experiences that resonate on a local and global scale.

Indeed, the potential to reconfigure retail spaces into more agile, responsive, and locally attuned environments, especially in light of the Covid-19 crisis in 2020, has never been more apparent. It can be seen as an opportunity to rejuvenate the commercial landscape, where the very essence of interactions is attuned to the narrative of individuality and personalised service.

The culmination of these efforts leads to retail locations that not only meet but anticipate customer desires, fostering an atmosphere of community and connection—essentials in the quest to maintain relevance in an increasingly digitalised world. Therefore, the future of retail lies in its ability to adapt—continuously and creatively—to the ebb and flow of consumer desires and the pulse of technological innovation.

Evolving Retail Spaces: Integrating Emerging Technology

In the present day, emerging retail technology stands at the forefront of the metamorphosis within retail spaces, ingeniously charting the course of the industry. Scott Dylan, a seasoned digital entrepreneur, harnesses the transformative power of this technology, melding it with the consummate skill of a maestro, to redefine consumer engagement. His expertise in implementing digital tools and predictive analytics positions him as an oracle within the retail revolution.

The utilisation of artificial intelligence and big data analytics has become progressively ubiquitous, signifying a trend that is reshaping the retail experience. These tools enable a level of personalisation hitherto unfathomable, offering consumers the same individuated treatment online as they would receive in the personal space of a high-street shop.

Through a digital-first strategy, retail spaces are evolving beyond mere points of purchase into vibrant hubs of innovation and interaction. Technological integration not only streamlines the shopping process but also equips retailers with the essential insights that guide astute business decisions. This paradigm shift, underpinned by the vision of digital entrepreneurs, is leading to an era where retail spaces cease to be static, transitioning instead into dynamic ecosystems that thrive on adaptability and customer-centric experiences.

At the vanguard of this movement, Dylan articulates a future where technology serves as both a catalyst and conduit for retail’s evolution, unwavering in his belief that enriching the consumer journey with technological finesse is the quintessence of modern retail.

The burgeoning realm of retail technology thus transcends mere transactional exchanges, invoking an immersive world that entices the senses and invites participation. As retail ventures throughout the United Kingdom brace for a digitalised future, the imperative for integration of cutting-edge tools in the ever-changing retail landscape has never been clearer.

The Impact of Digitalisation on Brick-and-Mortar Stores

The realm of retail is witnessing a seismic shift as the digitalisation impact reverberates through the very foundations of physical brick-and-mortar stores. Scott Dylan, renowned for his keen insights on digital enterprise transformation, observes a profound redefinition in retail structures, precipitated by the ascent of online business models. This paradigmatic transition is not so much a substitution as it is a strategic augmentation and integration of digital capabilities with traditional commerce.

Revolutionised by digital frameworks, retail spaces have acquired a newfound agility, enabling rapid scaling and expansion across global markets. E-commerce startups and digital emporiums now serve as exemplars of adaptability, showcasing the versatility and resilience required to navigate the currents of online business growth. Yet, whilst digitalisation presents unmatched opportunities for expansion, it concurrently poses the challenge of remaining pertinent in an economy that is increasingly digital-first.

Scott Dylan accentuates the criticality of innovation within the retail sector, emphasising that maintaining relevance in today’s digitised economy necessitates a continuous commitment to adapt and evolve. It is this driving force for innovation that could spell the future survival and success of retail establishments the world over.

The consumer landscape has become one where expectations are as transient as the technology that shapes them. Dylan’s perspective foregrounds the importance of businesses embracing digital enterprise transformation to meet and exceed these shifting consumer expectations. It is an endeavour that requires a complex tapestry of solutions, including interactive online interfaces, responsive supply chain mechanisms, and data-driven decision-making processes ingrained into the operations of brick-and-mortar entities.

In summation, digitalisation’s impact, not unlike a double-edged sword, empowers and challenges the conventional brick-and-mortar stores. To thrive amidst the dynamism of digitalisation, Scott Dylan suggests that a fusion of innovation and agility must be at the heart of any retail business strategy — a beacon guiding the transformation of retail spaces in this relentlessly evolving digital epoch.

Scott Dylan’s Insight on Future Retail Industry Trends

Focusing on future retail industry trends, Scott Dylan recognises the crucial role of innovative thinking and nurturing an innovation culture in the sustainability and success of retail businesses. In an ever-changing landscape, the scalability and adaptability of operations are what separate thriving entities from those that stagnate. According to Dylan, central to a retail business’s scalability is the integration of an innovation-led approach that informs and transforms every aspect of the organisation’s strategy and execution.

With the UK’s retail industry at a crossroads, Dylan’s insights suggest that successful enterprises will be those that view scalability not as an end goal but as a continuous process rooted in innovation. This includes fostering a culture where ideas bloom from all hierarchies within the organisation, constituting a democratic approach to innovation that empowers and encourages each member of the workforce to contribute to the business’s growth.

Dylan advocates, “The future of retail requires a crucible of collaborative thought; an environment that not only accepts change but thrives on it. Embracing an open exchange of ideas is imperative and must become part of the very DNA of a retail organisation.”

It is Dylan’s belief that scalability must be underpinned by a strong foundation in forward-thinking and innovative practices. This ethos, he notes, results in groundbreaking product developments and transformative processes that redefine the customer experience. By adopting a democratic approach to business management, small businesses, in particular, stand to gain a competitive edge, propelling them toward profitable scalability and robust market presence.

In a dynamic marketplace, the retail businesses that can acclimate to fluctuating consumer demands, while contributing innovatively to their sector, are the ones that will define the future trend of retail. Therefore, embedding an innovation culture as the cornerstone of business strategy, as highlighted by Dylan’s philosophy, becomes essential for retailers aiming to scale and succeed in the unfolding narrative of the UK’s retail industry.

Evolving Consumer Trends and Their Impact on Retail

The retail landscape is currently undergoing a significant transition, influenced by the evolving consumer behaviour that is shaping the industry’s future. Observing these changes, industry experts like Scott Dylan emphasise the necessity for retailers to reassess their strategies to align with the emerging consumer trends impacting consumer preferences. Innovative store layouts and an increased focus on local enterprise are key elements in this new retail paradigm. Retailers who seek to thrive in this environment are required to not just respond to but to anticipate these shifts in behaviour.

Retailers face the challenge of creating spaces that blend the comfort and familiarity of traditional shopping experiences with the convenience and innovation inherent in digital offerings. Scott Dylan underscores the growing expectation among consumers for more than just transactional exchanges — they demand personalised, enriching encounters whenever they enter a retail space. To meet this need, the concept of curated experiences within retail settings has come to the forefront.

Furthermore, the impact of changing workplace dynamics — with more individuals spending increased time in local areas — presents a defining opportunity for retail spaces. There is a burgeoning demand for shops that capture the essence of the community, offering specialised services and products that reflect local culture and needs. As the high street reinforces its position as a cornerstone of daily life, the local enterprise is poised to offer an authentic connection to the rhythm of the neighbourhood it serves.

The implications for retailers are clear. As consumer behaviour continues its inexorable evolution, the retail sector must adapt by cultivating environments that are innovative, responsive, and grounded in community ethos. This proactive approach ensures that retail spaces remain at the cutting edge of consumer trends, offering engaging experiences that resonate with customers’ shifting values and expectations.

The integration of innovative store designs with local enterprise sensibilities stands as the fulcrum upon which the future of retail pivots. Embracing such consumer trends does not merely create opportunities for retail growth; it future-proofs businesses against the rapidly changing tides of consumer demand and maintains their relevance in an increasingly competitive and digitised marketplace.

The Role of Sustainability in Retail Commercial Property Development

In an era marked by mounting environmental concerns and consumer-centric imperatives, sustainability in retail has burgeoned into a cornerstone principle for businesses and developers alike. Visionary leaders like Scott Dylan are cognisant of the trajectory that commercial property development must take to cater to these evolving needs. As society grapples with the urgency of a climate-changing reality, there is an unmistakable shift towards spaces reflective of not only economic viability but also steadfast ecological integrity.

These progressive overlays in retail strategies are embodied in the growing trend towards consumer-conscious retail consumption, where shoppers are increasingly allying with brands that prioritise sustainability. The physical environments where such transactions take place are also under scrutiny. Retail commercial property development is undergoing a profound metamorphosis, spearheaded by the imperative to marry commerce with sustainability. This encompasses the development of mixed-use strategy spaces, which integrate retail alongside communal and social amenities, crafting a rich tableau of human-centric urban spaces.

Proponents of sustainable development such as Dylan advocate for an all-encompassing, sustainable strategy which ensures that retail environments do not just exist in harmony with their surroundings but reinforce the principles of renewable energy resources, waste minimisation, and eco-friendly design practices. It is this holistic and inclusive approach that is predicted to define the future of retail spaces, rendering them resilient in the face of both market transitions and environmental exigencies. Retailers and property developers must, therefore, embrace this paradigm, forging ahead to create commercial spaces that resonate with the ethos of sustainability at their core.

Investec research reveals that the average price reduction on £1m+ homes in the Home Counties was 10% in H2 2023 vs 8.6% for a sample of equivalent properties in London.

Data was gathered from tens of thousands of properties between 1 June and 1 December 2023.

• Berkshire saw the smallest average reduction in price (8.5%) whilst also being the slowest market, with £1 million+ homes taking 111 days on average to sell. Prime properties sold fastest in East Sussex (just 74 days).
• West Sussex saw the largest average price reductions by both absolute value (£187,805) and percentage (12.6%).
• Surrey had most new listings of homes over £1m, almost double that of Hertfordshire, which had the second most listings.
• Crucially, the availability of prime property, time taken to sell and average price and reduction varies significantly between the counties Investec explored – meaning that buyers who want to capitalise on opportunities should get to know their target market.

13 February 2024: Prime residential property in the Home Counties has seen significant price reductions of 10% on average since June 2023, as the impact of interest rate increases begins to be felt, according to new research from Investec, the leading private bank.

The figures – based on data from tens of thousands of UK addresses – also cover several postcodes in prime central London and show that discounts on high-end property have been less significant across these areas of the capital (8.6%).

Anecdotally, Investec is seeing high levels of interest in prime property in the Home Counties – particularly in locations within commuting distance of London. The recent price discounts could therefore create opportunities for potential buyers.  

West Sussex saw the largest average price reduction both by value (£187,805) and as a percentage (12.6%) over the period, followed by Essex (11.2%) and Kent (10.6%). London generally proved more resilient, with an average reduction of 8.6% and reductions as small as 4.8% in postcodes such as NW3. However, there was variation in the capital too, where sellers in W2 and W8 postcodes reduced prices by an average of 12% and 11.5% respectively.

Across the Home Counties, prices in Berkshire were the most robust, with an average reduction of 8.5%. However, it was also the slowest market, with £1 million+ properties taking 111 days on average to sell, followed by West Sussex (100 days) and Kent (99 days). Prime properties sold the fastest in East Sussex where the process took 74 days on average.

Unsurprisingly, London properties over £1 million had the highest average sales price at £1.85 million, followed by Buckinghamshire (£1.65 million) and Oxfordshire (£1.62 million). The lowest average was East Sussex with £1.34 million.

Oxfordshire had the smallest amount of new supply, with just 719 new listings of properties over £1 million in the period. At the other end of the spectrum, Surrey has the best new supply – with 2,928 new listings (more than double the Hertfordshire, the next best supplied market with 1,670 listings). This reflects the large amount of prime property in Surrey.

Carlos Mendes, Private Banker at Investec, said:

“The Home Counties are often referred to as a collective, but our research shows that there is a significant variation in the availability and price of prime property in these areas. The gradual return to office-based working has brought the commute time firmly back into focus, so we’ve seen greater client demand for the established commuter towns on the outskirts of London. Proximity to top-performing schools also remains a key priority, as does access to good local restaurants and amenities. In the current interest rate environment, it is perhaps unsurprising to see the larger price reductions occurring further afield, in locations such as West Sussex, where second homes are more prevalent. 

“Every property purchase is unique, and every person’s financial situation is unique. It’s therefore important that high-net-worth individuals work with lenders who understand their ideal home and location so they can access a mortgage that meets their needs, in a timeframe that allows them to seize opportunities.“

The findings from Investec’s private banking team covered residential properties for sale from 1 June to 1 December 2023 across the Home Counties of Berkshire, Buckinghamshire, East Sussex, Essex, Hertfordshire, Kent, Surrey and West Sussex and Oxfordshire, and eight prime central London postcodes (NW3, SW6, W8, SW3, W2, W11, SW11, NW8). 

Investec’s Property Index 2024 can be found here: Investec Property Index 2024.

Investec offers a range of private bank accounts for clients earning at least £300,000 a year and with a minimum net worth of £3 million. Teams are structured by profession – enabling them to understand the complex earning profiles that HNWIs often have. Clients are looked after by a dedicated private banker who can provide tailored banking, borrowing, savings solutions or foreign exchange. 

In the intricate world of commercial property, disputes can occur often and, if not effectively resolved, landlords and tenants can become embroiled in lengthy legal battles, risking their investments and disrupting their business operations.

Commercial property disputes might relate to any type of commercial property, whether an industrial building, an office or retail space. These disputes are often complicated and involve complex areas of law, meaning they can be costly and time-consuming for all parties involved. Therefore, it is important to understand the legal options available for resolving them.

Here is some advice on how to avoid a commercial property dispute arising in the first place, and what to do in the event that conflict does occur.  

Preventing a dispute arising

Commercial landlord and tenant disagreements can occur over many issues. Some of the most common include breach of a covenant [for example, a tenant subletting part of the premises without their landlord’s consent as prescribed for in the lease agreement], serious damage to the property, the tenant causing a nuisance, service charges, insurance cover, maintenance of the property and the procedure for serving Notices on tenants.

To limit the potential for a dispute to arise it is important that the lines of communication are kept open from the offset so that, should there be an issue between landlord and tenant, it can be resolved at an early stage before it becomes too advanced. You should always be open to reasonable solutions and compromise to avoid disputes escalating or becoming impossible to resolve.

It is also vital to pay close attention to the clauses included in the lease of a property. Commercial property leases should be professionally drafted and scrutinised carefully by both parties before signing. It should be clear and cover every eventuality so that everyone, tenants and landlords, know where they stand.

A written log of any relevant incidents or correspondence can also prove helpful to refer to later on.

What to do when conflict arises

There is no one best way to resolve a commercial property dispute, and how the matter is best resolved largely depends on the circumstances and the complexity of the matter. For example, the parties may be able to negotiate between themselves, resolving the issue without legal intervention.

Where matters cannot be resolved informally, there are various options for commercial property dispute resolution.

‘Mediation’ is a type of alternative dispute resolution, where the parties are joined by a qualified mediator who acts as a neutral third party. The mediator assists both to work toward a resolution, without imposing any decision, and always remaining unbiased.

Mediation can be particularly appropriate where the parties involved wish to protect an ongoing business relationship. Generally, this is because mediation processes can be more amicable compared to Court proceedings, focused on open communication, and finding resolutions that are mutually acceptable where possible.

Through mediation, the parties that are in dispute are each invited to communicate their case and viewpoint to the arbitrator. The arbitrator’s role is then to evaluate each side of the argument, review the evidence, and make an unbiased, legally binding decision.

If it is unlikely that the parties involved will be able to reach a resolution between themselves, arbitration, if available or agreed to between the parties, is likely to be more suitable. Often, arbitration can be preferable in comparison to litigation. It is a private and confidential process, whereas Court processes are not always fully confidential, and certain details may become public depending on the circumstances.

If the dispute cannot be resolved by informal negotiations, or some form of alternative dispute resolution, it will be necessary to escalate the case to litigation processes. As litigation is more costly and time consuming, this is generally a last resort for dispute resolution.

Where disputes escalate and cannot be solved outside of Court, litigation may be the only available option to resolve matters. Where exercising this option, it is unlikely that the business relationship will be preserved, however, it may be the only option available to settle a dispute.

Conclusion

Whether you are a landlord or a tenant, your commercial premises are important to you and your future. Commercial property disputes require swift resolution to prevent a damaging situation to both parties – including potential loss of revenue and impact on business operations.

Litigation in commercial property disputes can be lengthy, expensive and complicated, and it is vital to take legal advice sooner rather than later to keep costs down. By seeking early legal advice, you can minimise any potential fallout and resolve matters quickly and effectively.

Yulia Barnes is founder and managing partner of Barnes Law

The Berkshire-based business park has achieved a 3* Fitwel certification.

Scoring 130 out of a maximum of 144 points, Winnersh Triangle is now the highest scoring Fitwel certified park in the UK.

Winnersh Triangle business park – part of the Frasers Property UK portfolio – has achieved a 3* Fitwel certification following its latest review, making it the UK’s highest scoring Fitwel Commercial and Industrial project.

Fitwel is the world’s leading people-centric real estate certification platform, which recognises organisations that are building healthier developments and communities. Fitwel helps to implement a vision for a healthier future where all buildings and communities are enhanced to strengthen health and wellbeing.

Winnersh Triangle business park, which is owned, developed and managed by Frasers Property UK, is a 1.5 million sq ft mixed-use business park with a wide variety of buildings, including major headquarters, Grade A offices and start-up office suites. The business park is home to a diverse portfolio of brands such as Virgin Media/O2, Tepeo, Stage 50, Becton Dickinson, and Hewlett Packard Enterprise

Jeremy Parsons, Sustainability Director at Frasers Property UK (FPUK) commented: “This latest certification is testament to Frasers Property UK’s ongoing commitment to creating places for good, building business parks that excel in providing numerous health and wellbeing benefits for our occupiers. We are proud that our work to engage, evolve and invest in our communities has been recognised. We remain focused on creating biodiverse green spaces which reflect people’s needs for social interaction and greater wellbeing.”

Fitwel certification is the most widely used people-focused certification for health and wellbeing excellence in the built environment. Used in over 35 countries, the scorecard assesses holistic health across a development, including: public realm access, pedestrian connectivity, proximity to open spaces, outdoor fitness areas and community destinations, health, embedding social resilience with occupant safety, and emergency preparedness paramount.

Winnersh Triangle is recognised for its 90 acres of green open spaces, healthy events programme including bootcamps, yoga, meditation and chair massage. All amenities, green space and services such as the gym, cafés and The Cabin are easily accessible. The Green, which is often used for events such as foodie days, features ample seating, is landscaped with native species, interwoven pedestrian pathways, a table tennis area and is home to bird feeders and a bug hotel. Winnersh Triangle has invested in accessibility across the site, such as safe pedestrian crossings, walking routes, and free to use Ryde bikes. Winnersh Triangle train station, adjacent to the business park, makes sustainable travel to and from the park very simple. The five on-site cafés offer and promote healthy food and refreshments for our occupiers.

Winnersh Triangle is committed to enhancing the wellbeing of occupiers across the park. Recent projects that helped to achieve this record score include installing a sustainable outdoor fitness area, with all exercise equipment crafted from wood and the creation of ten raised fruit and vegetable beds near The Green for occupier use and forms part of the site’s revised wellness campaign. Other initiatives include improving pedestrian signage to promote walkability across the site, installing green roofs to manage stormwater run-off on the site’s wellness building, The Cabin, and on bike stores in the 100 series and 200 series buildings. Another initiative was to promote reuse through keep cups and water bottles to reduce single use plastic usage alongside the introduction of water fountains around the park for occupiers to refill, when required.

Frasers Property UK is focused on ensuring sustainability and biodiversity are core pillars of its park strategies. FPUK recently achieved a GRESB 4* across its business park portfolio and Green Flag Awards at both Chineham Park and Farnborough Business Park.

Jeremy added: “We’re focused on future-proofing our business parks and building for continuous change, working in collaboration with our estate management teams, our occupiers, and the wider communities; with the collective ambition to build a healthier world. The health and wellbeing of our communities remains a fundamental part of this strategy.”

Frasers Property UK has also previously been awarded a Fitwel 3* rating at Farnborough Business Park, which was the first business park in the UK to achieve a Fitwel 3, and Fitwel 2 ratings at Blythe Valley Park, Solihull and Chineham Park in Basingstoke.

In the realm of property ownership, routine maintenance is often viewed through the lens of necessity rather than as a strategic investment. Among the critical, yet frequently overlooked aspects of property maintenance, gutter cleaning emerges as a silent guardian of property value. 

This article delves into how regular gutter maintenance can significantly enhance the value and longevity of your property, turning a routine task into a pivotal investment in your home’s future.

The Importance of Gutter Maintenance

Gutters serve a fundamental purpose in directing rainwater away from your property to protect its structural integrity. However, when neglected, gutters can become clogged with leaves, moss, and debris, leading to a host of problems that can compromise your property’s value and safety.

Preventing Water Damage

One of the most critical roles of gutters is to prevent water from damaging your property. Clogged or malfunctioning gutters can lead to water overflow, seeping into the foundations, walls, and basement of your home. Over time, this can cause extensive structural damage, damp, and mould, which are costly to repair and can significantly decrease your property’s value.

Protecting the Roof

Regular gutter maintenance is also crucial in protecting the roof. When gutters are blocked, water can back up onto the roof, leading to rot in roof materials and, eventually, leaks. Keeping gutters clean helps ensure that water is efficiently drained away, safeguarding the longevity and integrity of your roof.

Enhancing Aesthetic Appeal

The external appearance of a property significantly impacts its value. Gutters filled with debris can sag or detach, detracting from the aesthetic appeal of your home. Regular cleaning and maintenance not only ensure that your gutters are functioning correctly but also maintain your property’s curb appeal.

Avoiding Pest Infestations

Clogged gutters can become breeding grounds for pests such as rodents, birds, and insects, which can infest your property and lead to health hazards. Regular gutter maintenance helps prevent such infestations, contributing to a healthier living environment.

Increasing Lifespan of Gutters

Regular maintenance extends the life of your gutters, saving you money in the long run. Replacing gutters can be expensive, but regular cleaning can prevent rust and corrosion, ensuring that your gutters remain in optimal condition for longer.

Compliance with Insurance

Some home insurance policies require homeowners to conduct regular maintenance, including gutter cleaning, to remain compliant. Failure to do so can lead to denied claims should your property suffer damage as a result of poorly maintained gutters.

The Process of Gutter Maintenance

Gutter maintenance involves several steps, starting from inspection to cleaning and repairs. Professionals typically conduct a thorough inspection of the gutters to identify any issues, followed by the removal of debris, flushing of the gutters and downspouts with water, and making necessary repairs.

DIY Vs Professional Cleaning

While some homeowners may opt for DIY gutter cleaning, hiring professionals can ensure a thorough job and prevent potential accidents. Professionals have the necessary equipment and expertise to efficiently clean and repair gutters, providing peace of mind and saving time.

Periodicity of Gutter Maintenance

The frequency of gutter maintenance depends on various factors, including the type of gutters, the surrounding environment, and weather conditions. It’s generally recommended to clean gutters at least twice a year, in spring and autumn, to prepare for the rainy seasons. However, properties surrounded by trees may require more frequent cleaning.

The Impact on Property Value

Regular gutter maintenance contributes to the overall health of your property. By preventing water damage, enhancing aesthetic appeal, and ensuring structural integrity, well-maintained gutters positively influence your home’s market value. Potential buyers are more likely to invest in a property that shows evidence of thorough maintenance, viewing it as a safer and more valuable investment.

Conclusion

Neglecting gutter maintenance can lead to significant damage and devaluation of your property. Regular gutter cleaning not only prevents costly repairs but also boosts your property’s value by maintaining its aesthetic appeal and structural integrity. 

As a seemingly mundane task, gutter maintenance emerges as a critical investment in the longevity and prosperity of your home. By incorporating regular gutter cleaning into your property maintenance routine, you safeguard your most significant investment, ensuring its value continues to grow over time.

By Sarah Thompson, Managing Director, Mortgage Scout

Compared with a decade ago, today’s first-time buyers are older, more likely to buy with a partner and more likely to have dependent children. This highlights how getting on the property ladder is becoming increasingly hard for younger borrowers. However, lenders are always introducing new propositions to ensure solutions are in place to help prospective homeowners buy their first property. It could be you who helps them!

The 1980s, perhaps best known for its music and the invention of Super Mario, was a time when the average house price was £22,676 and the average deposit was £3,000. Fast forward to 2018, and we see a completely different picture: the average house price is £224,353, and the average deposit costs you £34,000. This shows a whopping growth of around 890% in house prices! However, wage growth hasn’t seen the same hike, so it is no surprise that borrowers are continuously finding it harder.

For many, the Bank of Mum and Dad seems like the only option. According to the Social Mobility Commission, over 30% of UK households with dependent children hold assets that could be used towards a deposit to purchase a home. This could lead to an increase in the number of first-time buyers turning to help from their family. The Social Mobility Commission’s research suggests this could rise to nearly 40% by 2039/40. Do you hold assets that could give your loved ones the gift of a lifetime?

Joint borrower, sole proprietor mortgages (JBSP)

JBSP mortgages are one solution that may help. They’re aimed at bridging the gap between salaries and house prices and are geared towards helping close family members get onto the property ladder or move home. Lend a helping hand to your children’s plans of purchasing their first home!

Joint borrower, sole proprietor mortgages allow you to support your family by adding your name to the mortgage, increasing income and increasing the maximum loan available. A JBSP mortgage is a financial arrangement where up to four individuals can jointly secure a mortgage, but only one person legally owns the property.

This type of mortgage is commonly chosen by parents who wish to help their children step onto the property ladder, but it’s also used by siblings or friends combining their incomes to buy a house with only one residing in it.

A key aspect of JBSP mortgages is that while all borrowers are jointly responsible for the mortgage repayments, reducing the risk for the lender, there’s also a collective liability. If one borrower fails to pay, the others must compensate for the shortfall. It’s, therefore, essential to enter into a JBSP mortgage with trusted individuals and clearly understand each other’s financial situations.

Only the sole owner of the property, the proprietor, is listed on the title deeds. This means other borrowers have no legal rights to the property or any increase in its value. Lenders usually stipulate that this individual must reside in the property. This arrangement is ideal for those who want to assist with a property purchase without retaining a long-term interest in it, allowing for an easy exit when the proprietor can take on the mortgage independently.

In terms of operation, JBSP mortgages are similar to standard mortgages. To evaluate affordability, lenders assess all borrowers’ financial circumstances, including income and outgoings. Borrowers must also meet the lender’s specific criteria, such as age limits and creditworthiness. The age limit for a JBSP mortgage typically caps at 70 or 80 years at the end of the mortgage term. When the initial fixed-rate or discount period ends, the sole owner has the option to remortgage solely in their name.

One of the advantages of a JBSP mortgage is its potential impact on Stamp Duty. Generally, purchasing a property with someone who already owns a home attracts a higher Stamp Duty rate. However, under a JBSP mortgage, the non-owning parties don’t trigger this additional charge.

Planning for unexpected scenarios, such as illness or unemployment, is prudent, like any mortgage. Income protection insurance can effectively ensure mortgage repayments and other bills are covered during such times.

Raising a deposit

Affordability is not the only challenge to first-time buyers and joint borrowers; sole proprietor mortgages may not be the best solution for everyone, so there are other options you may want to consider. If your loved ones cannot raise a deposit, you can still help. You can use your property or savings as security for their mortgage instead of gifting them a deposit. Many lenders are offering these types of products, too.

Dionne Lee, who turned a nearly £100,000 profit from her initial home flip, now boasts ownership of 18 properties and has shared her journey, including critical missteps to steer clear of.

With close to thirty years in the real estate game, Dionne embarked on her property journey at just 20, juggling three jobs to amass a deposit. Her inaugural purchase, a modestly priced house at £66,100, underwent strategic renovations and sold seven years later for a lucrative £160,300.

Merely a year after her first acquisition, Dionne expanded her portfolio with a second and third property, respectively, in the following years. Now at 47, the financial mentor and brainchild behind A Woman Inspired, Dionne leverages her extensive property portfolio to offer guidance to budding homeowners.

Highlighting key pitfalls to avoid, Dionne, hailing from Queensland, Australia, shared insights with AbsolutelyBusiness.com, reflecting on her initial foray into property investment as one of her best decisions. Despite her rigorous job schedule, Dionne managed to save diligently, aiming for properties that were affordable yet strategically located to self-sustain financially.

Dionne reminisces about her first property, where she minimally invested around £2,600 in renovations, admitting in retrospect that selling it was a misstep. Life’s unpredictable turns, including a job opportunity that fell through just as she was relocating, forced her to sell one of her properties to remain financially afloat.

Since her first venture, Dionne has acquired 18 properties across Australia, ranging from £33,400 to £733,900, each chosen with careful consideration of location and potential for appreciation.

Dionne’s property journey spanned various Australian regions, starting in South Australia, where she bought four properties within five years, then moving to the Australian Capital Territories for another two, and eventually expanding her investments to Victoria, South Australia, Queensland, and Western Australia.

She now shares vital tips for those venturing into the property market, emphasizing the importance of professional advice, thorough research, and financial preparedness. Dionne advises against emotional purchases, stressing the necessity of a well-thought-out checklist and a pragmatic approach to property investment.

Her key strategies include:

• Consulting with seasoned mortgage brokers and solicitors for informed financial structuring and legal advice.
• Creating a detailed checklist to guide property selection, focusing on financial viability, location, and potential growth factors.
• Conducting comprehensive building and pest inspections to avoid unforeseen expenses.
• Preparing for all associated costs, including government fees and ensuring adequate financial reserves for deposits and purchasing costs.
• Securing pre-approved and thoroughly assessed loan applications to avoid financing pitfalls.
• Mastering negotiation techniques or enlisting experienced investors to negotiate on one’s behalf.

Dionne’s methodical approach to property investment, underpinned by her personal experiences and professional expertise, offers valuable insights for both novice and seasoned investors in the real estate market.

Budget-conscious house hunters have the chance to secure a plot of land for a mere £50, with one significant stipulation: they must take on the task of constructing the house themselves.

This vacant lot, nestled between two semi-detached homes, is set to be auctioned with an exceptionally low starting price.

The guide price is barely more than the cost of two large Domino’s pizzas, priced at up to £23.99 each, by just £2 and 2p.

Situated in Sunderland, Tyne and Wear, the plot will be offered by Auction House and listed on Rightmove.

Previously, the site housed a building that was taken down following a fire incident.

This presents an ideal chance for individuals aiming to climb the property ladder, especially during the ongoing cost of living challenges.

The listing details: “Land previously known as 184 Hasting Street available for development, pending planning consent.

“After the demolition of 184 Hastings Street due to a fire, the now cleared and flat parcel of land offers a prime self-build prospect, awaiting planning approval.

Nonetheless, potential buyers should be aware of additional costs tied to the purchase.

An administrative fee of £1,200, inclusive of VAT, and a buyer’s premium of another £1,200 are required at the contract exchange stage.

Over the last year, the average property value on this street was recorded at £55,917.

The auction is scheduled for the 29th of January.