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A new online property portal has launched to help individuals save thousands of pounds when buying or selling a property. Housetrade.co.uk enables individuals to sell their property privately, avoiding excessive estate agency fees and putting them in control of negotiations and viewings.

Grosvenor Systems has launched Propman X3, the latest version of the property management and integrated financial accounting software solution. This new release has been principally shaped by feedback from over 180 of their clients, and claims to deliver multiple efficiency gains for property owners, developers and occupiers, block managers, managing agents and local authorities. New features include an integrated customer relationship management (CRM) capability, an enhancement to the existing User Defi

The Ringley Group have recently produced a market research report into the ownership, services, management and running costs of apartment buildings in London. Here Mary-Anne Bowring shares some highlights.Apartment buildings There are currently 1,252 apartment buildings across inner London containing 30+ dwellings, 60% of which are in Zone 1 and the Docklands constructed during the last property boom. The balance comprises 2,123 smaller apartment buildings with up to 29 dwellings and commercial premises.

The existence of a head-lease in relation to a residential block of flats has considerable significance in a claim for a lease extension. As well as arguments to the value of the head-lessee’s interest, conveyancing issues are likely. When a sub-lessee claims a lease extension, terms will be needed for provision of services after the termination of the head-lease. When a head-lessee itself claims for a particular flat, there will be a surrender of the head-lease in respect of that flat, leading to argumen

Peverel Group, the largest residential managing agent in the UK, has been bought by a consortium of private equity companies comprising Chamonix Private Equity and Electra Partners. The holding companies of Peverel were placed into administration in March 2011 and Zolfo Cooper were appointed as administrators. However, this transaction includes not just the holding companies, but the operating subsidiary companies as well which includes the management of retirement properties, property sales, insurance

A recent court of appeal case has brought a clear – and positive – impact on landlords’ ability to recover their legal costs when pursuing service charge debts. ‘69 Marina’ has clarified that both County Court and Leasehold Valuation Tribunal (LVT) costs can be recovered. 69 Marina – how the case unfolded 69 Marina is a block of six apartments, five of which had been let on 99-year leases that began in July 1985. The lessees had failed to pay service charges relating to repair works. In April 2007,

In an interview with Janet Entwistle, the new CEO of the Peverel Group, News on the Block have learned more details about the purchase of Peverel and some of the plans moving forward. To facilitate the transaction, a new company was formed as a corporate vehicle to purchase the operating businesses of Peverel from the holding companies.  Janet explained: “£50.7m was paid for the business and £11m in cash was retained.  RBS have provided £25m of debt and that has given us a more suitable capital structur

£62m BUYS PEVEREL OUT OF ADMINISTRATION Peverel bought out of administration £62m transaction £125m borrowings reduced to £25m New CEO & Chairman appointed Peverel Group, the largest residential managing agent in the UK, has been bought by a consortium of private equity companies comprising Chamonix Private Equity and Electra Partners.The holding companies of Peverel were placed into administration in March 2011 and Zolfo Cooper were appointed as administrators.  However, this trans

The Enfranchisement and Right to Manage Awards 2012 (the ERMAs) recognises the excellence and professionalism of all specialists working in this industry both at an individual and company level. The awards will be held at The Congress Centre, 23 - 28 Great Russell Street, London, WC1B 3LS, on May 24th 2012. There awards are judged based on a set of comprehensive entries from industry professionals against a range of specialist criteria which includes quality of service, case studies, technical expertise,

We often hear from clients ‘Is all this “Elf ‘n’ Safety” nonsense necessary, it’s only a residential property after all!’ Sadly “Elf ‘n’ Safety” makes the job of the professional advisors so difficult to put over the very real legal obligations that face our Clients. The formula of exaggeration, half-truth, generalisation and myth-making has created a great British joke, the one about health and safety gone mad. It’s entered our social fabric, something to be shared and ‘tut-tutted’ at over breakfast tab

It’s very important to get independent advice from a chartered surveyor prior to starting the process. Before commencing the lease extension or enfranchisement process, it is always prudent to obtain advice from an independent chartered surveyor as to likely costs. Indeed, it could be a costly error if you discovered once agreement had been reached that you could not afford the premium and the associated costs, which would include your own legal and valuation fees and the reasonable legal and valuation

Imagine a headlease of a block which consists of ground floor commercial premises, common parts, and 20 flats, 15 of which are held by qualifying tenants, four of which are occupied by assured shorthold tenants and one of which is a caretaker’s flat. The nominee purchaser is obliged to acquire the interest of the headlessee insofar as it extends to the 15 flats held by qualifying tenants. It is entitled to acquire the common parts, assuming that the acquisition of the same is reasonably necessary for pro