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Property

Property

Is HMV an old dog that has run out of tricks?

Alison Brunger

When video killed the radio star, who would have thought that before long CDs would triumph over vinyl, downloads would top CDs, and digital streaming would kill off almost all physical music sales entirely?

Possibly not HMV. As the High Street staple announced its second administration in 6 years, citing the “tsunami of challenges facing UK retailers over the past 12 months”, commentators were calling the end for His Master’s Voice.  This old dog had simply run out of tricks to reinvent itself.

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Burness admin

Is the Scottish housing market bucking the Brexit trend?

The announcement at the end of last week of Springfield Properties plc’s acquisition of Walker Group is a great indicator of the strength of the Scottish housing market.

The deal – in which we acted for Springfield – helps strengthen Springfield’s presence in the Central Belt, particularly around Edinburgh.

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Burness admin

The £1 Shopping Mall

Graeme Bradshaw

The auction sale of the Postings Shopping Centre in Kirkcaldy has caught the eye of the media nationally and internationally.  With a reserve price of £1, there had been much speculation over what would happen when the Centre eventually went under the hammer.  Even the One Show got in on the act.

The auction took place this week with the final price reported as being £310,000. 

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Burness admin

Will the gods smile on retail in 2019, or turn their faces from it?

January, named after the Roman god Janus – usually shown with two faces – one looking to the future and one to the past, is traditionally a time for reflection and optimism for what the New Year may bring.

The godly functions attributed to Janus are primarily concerned with transitions, endings and new beginnings, so it is apt in this blog that we reflect on the events of 2018 in the world of retail and leisure and look forward to what 2019 may bring.

So reflecting on 2018, what were the key features?

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Land and Buildings Transaction Tax – New Rates from 25 January 2019

The Scottish Government has approved legislation to make amendments to the Land and Buildings Transaction Tax (“LBTT”) rates which apply to non-residential property transactions, as well as to residential property purchases which are subject to an Additional Dwelling Supplement (“ADS”) charge.

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Rent review disputes: when is the “final decision” final?

Stephen Farrell

Rent reviews are often agreed. They can sometimes end up in arbitration, often dealt with by experienced surveyor-arbitrators. Those arbitrations have a clear framework, governed by the Arbitration (Scotland) Act 2010, which provides rules and procedure. However, sometimes, rent reviews are dealt with by expert determination. Often the experts are the same experienced rent review surveyors who act as arbitrators. But the procedure is very different. 

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Delivering More?

'Delivering More’ is the aptly named title of Homes for Scotland's latest strategy which was launched at its annual conference at Murrayfield Stadium last week.

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Is Late Living Coming of Age?

Retirement living is a hot topic it seems. Not just with those eagerly looking forward to life after the daily grind of earning an honest living, but also increasingly amongst developers, operators and investors as the sector is seen as a valuable business opportunity that has significant potential for growth.

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Burness admin

REVOlution In Retail: What Did Department Stores Get Right?

On a Glasgow street corner in 1849, Hugh Fraser co-founded the business that would become House of Fraser.  Repurposing space previously used for wholesale, the retail operation grew and grew.  In the 1950s that business seized its opportunity and, through a series of acquisitions (which included Harrods), transformed and adapted itself to become a national chain.

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CVAs - Pride Or Unfair Prejudice For Landlords?

When originally introduced, company voluntary agreements (CVAs) were conceived as a constructive mechanism for the restructuring of struggling companies. In this blog we examine CVAs from a landlord’s perspective and consider whether their use creates unfair prejudice, or whether a well-advised landlord may be able to derive some benefit from the alternative resolution a well structured CVA can offer.

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Burness admin