Land and property reform relayed

Balfours property professionals provided a whistle-stop briefing to Shropshire’s accountants, solicitors, insurance brokers and bankers.

Identifying latest legislation and reforms in numerous aspects of land and property, the audience of 80 strong at the Mytton and Mermaid took home key messages from eight Balfours departments:

• According to Jayne Tart, rented residential accommodation offers first class flexibility in our increasingly transient business, family and global lives; 70% of Europeans rent.
• Planning consultant, Karine Swanson says the new National Planning Policy Framework, NPPF, vision statement offers unprecedented opportunities for neighbourhoods to facilitate their own services and protect their settlements.
• Head of Sales, Tim Main, told the audience that keen and active purchasers are being matched up with properties as soon as they come to the market.
• Building surveyor, Andrew Downton, urged anyone involved in a new build to include everything on their wish list in the tender package, “you can take items out, but when you start adding costs run away and it gets messy.”
• Energy consultant, Richard Bayliss commenting on the recent halving of PV Fits payments says the PV bubble needed to burst: “The industry will now re-calibrate, green energy is here to stay and prices will come down, balancing the cut in Feed in Tariffs. However after next April homes with EPC rating of less than C will not be eligible for feed in tariffs, which currently excludes 90% of homes, according to Energy Saving Trust figures.
• Opportunities to let land and building packages to the equestrian sector can offer attractive margins, according to Equestrian guru, Susie King.
• Farm business adviser Trevor Sheard warned that while Common Agricultural Policy reform is unlikely to take effect for at least two years, nevertheless the qualification date for the new Basic Payment Scheme has already past. As a result sale of land and taking land in hand should be done with care as the “golden ticket,” to BPS can only transfer once.
• On the farm land, Balfours partner David Groves warned that the Inland Revenue are now looking at land values above agricultural values – a principle which should be resisted at all cost.

Michael Evans, Balfours Managing partner, said the changing environment and legislation mean detailed and current knowledge are paramount to the efficiency of property management.

Pictured from left Michael Evans, Balfours Managing Partner, with speakers, David Groves, Susie King, Jayne Tart, Andrew Downton, Trevor Sheard and Richard Bayliss.