The Government of Jersey has published an update on the implementation of mandatory Energy Performance Certificates for Jersey in relation to commercial and residential property. The update confirms that the planned new legislation will establish a framework for Jersey Energy Performance Assessments (JEPA), which will be the Jersey equivalent to Energy Performance Certificates (EPCs). This name change is to ensure that it is clear the Jersey assessments differ from those in the UK ...
The idea of achieving purpose alongside profit has been part of the business world for centuries, but the importance placed on it has reached new heights in recent years with an increased focus on ESG (Environmental, Social and Governance) issues, informed by a longer-term view that we cannot afford to pursue profit without consideration for people and our planet ...
We have previously commented on the impact environmental concerns are having on those working in the traditional energy sectors. In particular, the focus on renewable energy has left many oil and gas workers nervous about their job security and ability to find alternative work if they are made redundant. Thankfully, it appears those concerns might be unfounded ...
Over the course of a century of oil and gas development in the U.S., a robust body of law developed, covering virtually every aspect of E&P and interpreting every provision in oil and gas leases, joint operating agreements and innumerable industry contracts. But with the rise of the energy transition, a new set of rules are needed to deal with unprecedented policy, new technology and different priorities ...
After a particularly active consultation round with approx. 140 consultation responses, together with the proposal for the national budget for 2024, the government presented a revised proposal today, 6 October 2023. The criticism from a relatively united renewables industry must be said to have fallen on relatively deaf ears and the proposal is essentially a continuation of the consultation proposal ...
It’s been an exhausting week for climate and transport policy. Whilst the controversy around the Conservatives’ self-declared “war on motorists” will rightly rage, there seems little doubt that the move to electrification of domestic vehicles is one which they accept is inevitable, and ideology aside, makes good financial sense ...
Building any career or business can be difficult, but even more so in construction. A company or individual can ruin its reputation that it took years to develop by taking a political stance or posting the wrong thing online. It can be difficult to recover from blowing a bid, miscalculating an estimate, or being locked into a fixed-price contract and the cost of materials escalate more than your profit. One might have to close up shop or be demoted or terminated ...
Overview Jersey property law is derived from a mixture of local statute and customary (common) law. Jersey's customary law has evolved from Norman-French law and is primarily contained in the judgments of the Royal Court of Jersey and the writings of local and French jurists. In Jersey law property is either "movable" or "immovable". These classifications are broadly similar to the English classifications as "personal" or "real" property ...
On complex construction projects, there may be multiple contractors, subcontractors, vendors, suppliers, and sub-subcontractors working along side one another. With various entities working parallel there are substantial risks that one contractor’s work will interfere with that of another contractor on the project. When the two parties have direct contracts with one another (e.g ...
A JV is commonly defined as a combination of two or more parties (people or entities) that is formed to acquire or develop and own, lease, manage and sell one or more real estate assets. The JV typically has two categories of partners: the “operating partner” and one or more “capital partners.” JVs are frequently used by experienced real estate developers to obtain the capital they need for their projects ...
Dubai’s real estate market has experienced significant growth in prices in the past few years. The average sales prices for residential properties in Dubai increased by 12% between 2021 and 2022 to reach AED 1,203 per sq ft. This is expected to increase even more by the end of 2023. In this market, off-plan properties appear to be a more affordable option to many purchasers as compared to completed properties ...
Let’s be honest, it feels gloomy at the moment. The ramifications of 14 consecutive rate rises are now materialising – creating additional hurdles for those seeking funding and bringing developments forward. Rising borrowing costs will always put pressure on the living sector. However, the UK’s real estate industry is remarkably resilient ...
Artificial intelligence (AI) is revolutionising the global real estate landscape. In the United States alone, AI companies are predicted to have a 1.6m sq m real estate footprint by the end of 2023, according to JLL ...
The summer is a welcome break for higher education students across Scotland. But, as coursework and exams are temporarily put to the back of minds, a potential reform is looming that could have major implications on the student living experience in Scotland. This relates to the outcome of a much-anticipated review into its purpose-built student accommodation sector (PBSA) – first initiated in 2021 by the Scottish Government ...
The new biodiversity net gain (BNG) requirements are set to come into force from November 2023. This will legally mandate securing a minimum 10 per cent biodiversity net gain from new commercial and residential developments in England, with a few exceptions. While the requirements - part of the Environment Act 2021 – will have financial and operational implications, the real estate industry has had several years to prepare for BNG ...
The UK is facing a veritable housing crunch. The gap between residential supply and demand continues to widen, and the current high interest rate environment is only serving to compound the issue – posing real challenges when it comes to funding and bringing much needed new schemes forward. One part of the residential market that is really feeling the strain of these supply constraints is the senior living sector ...
Since receiving Royal Assent on 28 April 2022, the Building Safety Act 2022 (BSA) has continued to lumber along - coming into effect in phases and throwing up legal complications as it goes. The government has therefore been required to create secondary legislation – regulations - to seek to clarify and untangle various provisions in the BSA. The Act is reliant on regulations to provide the detail of many of its provisions ...
Activity levels in the residential development market remain lower than developers, lenders and other real estate professionals have become accustomed to over the last 15 years. With 14 base rate rises implemented by the Bank of England (BoE) in the last 18 months - now at 5.25% - the UK is currently subject to the highest base interest rate since 2008 ...
While the next general election isn’t due until January 2025, or earlier, housing is shaping up to be a key battleground for both parties. It could arguably even decide the election. There seems to be clear blue water developing between the two main parties on this issue ...
The Planning (Agent of Change) Bill was a private member’s bill introduced in Westminster in 2018 by former government minister John Spellar to ‘require specified planning controls in relation to developments likely to be affected by existing noise sources’ ...
The Renters (Reform) Bill was given its first reading in May 2023 after five years of consultation and refinement. The Bill seeks to provide greater flexibility and security for residential tenants in England by imposing additional restrictions and obligations on private landlords. The reforms also look to improve the leasehold system through increased regulation, digitisation and standardisation. A noticeable omission from the Bill, however, is an exemption for private lettings to students ...
With the announcement of the Law Commission’s planned consultation on Part II of the Landlord and Tenant Act 1954, can changes be made to clarify and condense the statutory framework for renewals? One area ripe for reform is how the level of rent is determined, and in particular, the treatment of rent-free periods where no binding authority appears to exist - leaving a variety of often conflicting County Court decisions ...
Chile’s Ministry of Public Works (MOP) announced 11 new projects that will be constructed throughout the country. This announcement is the first call for public works tenders since the beginning of President Boric’s term in office. The portfolio of concessions planned for 2023 calls for investments totaling USD 5.8 billion. Concessions included in the portfolio: New Route 5 in the Santiago-Los Vilos section - USD 1 ...
On July 26, 2023, SERNAC published a new interpretative circular that refers to the protection of the real estate consumer in the sale of real estate and its preparatory acts. Although this circular establishes mandatory guidelines for SERNAC officials, it also constitutes a guide to be taken into consideration by real estate providers when complying with their legal obligations ...
