Rights of first refusal

Article Abstract:

The UK Housing Act 1996 includes important amendments to the Landlord and Tenant Act 1987. The 1987 Act was intended to give residential tenants the first right of refusal when a landlord wants to sell his interest in a property. However, the Act was not effective, and the 1996 Housing Act introduces tighter procedures. For example, it is now a criminal offence if a landlord sells the property without complying with the requirements of the Act. The Act also introduces special provisions for selling a property at auction when the Act applies.

Laws, regulations and rules, Landlord and tenant, Landlord-tenant relations

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GenCorp digs into Grand Buildings

Article Abstract:

Land Securities is to let the 1,858 sq mt sixth floor of Grand Buildings on Trafalgar Square, London, England, to South African mining concern GenCorp for three years. This move will not affect GenCorp's ongoing search for a freehold headquarters in Mayfair or St James's. In a further development in the property market in the West End of London, BAT is negotiating with the Grosvenor Estate regarding a prelet on the 18,580 sq mt Hobart House.

London, England, Buildings and facilities, GenCorp Inc., GY

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Belgium

Article Abstract:

Belgium is currently suffering from a lack of suitable property in which to invest, and this is prompting fund managers to look to other areas. Investment is also being hampered by the country's tax structure, especially capital transfer tax of 12%. Foreign concerns looking to invest in Belgium almost inevitably have to work with a Belgian partner.

Belgium, Real estate industry

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