All of this may prompt a pick-me-up for deal activity in both the commercial and residential sectors. There will also be a number of regulatory changes to keep up with in 2024, but with a general election on the cards, making accurate predictions of what will happen in the sector and what the legislation will end up looking like is probably best avoided.  What we can safely do is provide a rundown of some of the more significant developments in property law expected in 2024, with the finer details to be fought over in Parliament.

Leasehold and freehold reform

The Leasehold and Freehold Reform Bill will enable leaseholders to extend leases to up to 990 years, abolish marriage value and also limit ground rent. These changes will make it cheaper and easier for leaseholders to extend leases or buy the freehold or share of the freehold.

Renters reform

The Renters Reform Bill is likely to come into law this year, and it will make significant changes to the way in which landlords let properties to tenants.  This is the one promising the abolition of so called “no fault” evictions, but the reforms have been delayed due to the lack of a framework for the courts to deal with the proposed new eviction process.

Ending of lower residential stamp duty

The increase of the residential nil-rate tax threshold from £125,000 to £250,000 will end on 31 March 2025.  This means that buyers will go back to paying the full amount of stamp duty next year.  This may result in an increase in transactions towards the end of 2024 and the beginning of 2025, before the lower rate ends.

Building safety

The Building Safety Act 2022 brought in several measures intended to make buildings and residents safer, in light of the Grenfell tragedy.  In October, a number of measures were brought into law, which now relate to all projects, not just high-risk buildings.  The regime is complex and specialist advice should be sought when building or re-developing property.

Biodiversity net gain

Intended to ensure that development has a measurably positive impact, or “net gain” on biodiversity, developers must deliver a BNG of 10%. This means a development will result in a better quality natural habitat than there was before development. New BNG rules came into force for most new developments from January 2024. Draft regulations and government guidance were published at the beginning of December.          

To find out more, contact Chris Piggott or get in touch with law@sherrards.com. 

What is the significance of the Chambers and Partners submissions?

Sherrards Solicitors have been ranked in the Chambers and Partners legal directories for the last 10 years, with individual team members being ranked for even longer.

The importance of the Chambers and Partners submissions is to help build the reputation and work of our lawyers, the firm as a whole, and showcase the support we offer to our clients.

Each year we contact clients and key contacts of the firm to act as “referees” in our submissions. This means our clients kindly give up their time to take a call from the Chambers and Partners’ researchers to answer questions and give testimonials towards our team members. Our rankings could not be as successful as they are without the help of our lovely clients and contacts, we can’t thank them enough for their honesty and kindness.

Internally the Chambers and Partners rankings helps us retain and attract talented business professionals and lawyers to the firm. In order to continue our services, we want to attract the best and continue to offer a range of services at the highest standard for all our clients – old or new.

An insight into the results:

The Litigation team have been ranked highly for another year running. The team is a respected and reputable team known for their strong track record for handling fraud, banking, and financial litigation cases. They are also experienced in serving clients from a range of industries and handling international cases across multiple jurisdictions.

One client said that “The team are able to quickly get to the bottom of complex situations and explain these in straightforward terms to ensure a full understanding and that appropriate action is taken in a timely fashion.”

Head of the department & Partner, Paul Marmor has been ranked individually as well where he has been described as “exceptional in all respects” as well as a “depth of knowledge”.

Similarly, Karen Dobson, Partner in the Litigation team has also been ranked where she was described by a client as “a sensible and safe pair of hands” as well as notably being stated as “honest, empathetic and efficient.”

The Employment department have continued ranking in the Chambers and Partners for their exceptional services. One client has noted that “Sherrards have consistently handled our business promptly and with discretion”.

Head of Department, Mark Fellows was individually ranked as well, where he was described by a contact as “thoughtful and considerate” as well as “consistent”.

The Commercial Property department ranked highly in the Chambers and Partners, with Department Head, Terry Fendt continuing his individually ranked streak. Terry has developed his proactive and pragmatic approach over the years, which is reflected in his continuously great ranking, year on year.

The Corporate and Commercial team also received a great ranking in this years Chambers and Partners. One client has stated “Sherrards have a technically strong team with an eye for detail and the ability to advise on complex instructions.”

Head of Department, Leigh Head was a recognised in this year’s submission, and  individually ranked. One source said that Leigh is “very good to deal with and blends responsiveness with a keen eye for detail”. 

These successes follow our ranking in the Chambers & Partners High Net Worth guide, earlier in the year. Our Private Wealth team continues to remain highly ranked, with Nicole Marmor, Partner and Head of the team, ranked as Band 1.

To read more about Nicole and the Private Wealth’s ranking in the high net-worth guide, click here.

 

These rankings sit alongside the Legal 500 rankings which were published earlier in the year, in addition to the members above, includes other team members such as Barney Laurence, Marta Grieve, Greg Pooler, Charles Burrell, Louise Stradling, Emma O’Meara, Jean-Paul da Costa, Stephanie Kierans, Shane Knight, Guy Morgan and Caroline Turner.

You can read the Legal 500 press release for more detailed information, by clicking here.

This ambitious expansion was flawlessly orchestrated through a strategic alliance with the Commercial Property team at Sherrards, under the guidance of Terry Fendt.

PLAYGROUND Brand’s Dance Legacy Broadens Its Horizon. Boasting acclaimed studios in LA, Playground London stands as the newest addition to the illustrious PLAYGROUND Brand, gearing up to offer master classes and dynamic daily sessions helmed by industry-leading choreographers.

Seamless Expansion: Thanks to the diligence and expertise of the Commercial Property team, Playground LA Limited secured a smooth lease agreement, culminating in a mid-July completion. With eager anticipation, PLAYGROUND LONDON is poised to swing its doors open on Oct 2nd!

Frequented by stars like Jennifer Lopez and Justin Bieber, and associated with brands such as Nike and Adidas, Playground LA’s legacy is set to continue in London. Dive into the PLAYGROUND brand and check out PLAYGROUND LONDON.

We asked Chris Hovington, Group Leasing Manager at Praxis Real Estate Management to sit down with us and talk about working alongside the teams at Sherrards.

Thanks to Chris for taking the time to speak about our Commercial Property teams whom he has worked with for over twenty years.

He says, “We work with Sherrards as often as we can.”

We say “The feeling is mutual!”

1. She works alongside Caroline Turner, Jeremy Palmer, and Phillip Hewett to support them with their clients, and ensure all  Commercial Property matters are dealt with swiftly. 

Abroo Khan, has now qualified from the Sherrards Training Academy and will be joining the Private Wealth team as a Solicitor.

Abroo has been a trainee with the firm now for just over two years, where she has been working alongside various departments, such as Commercial Property, Dispute Resolution, Corporate and Commercial, in order to grow her knowledge and understanding of the legal world.

Partner and Head of Private Wealth, Nicole Marmor, says, “It is brilliant news to have Abroo join our growing team. We have seen how hard she has worked throughout her time as part of the Sherrards Training Academy and we look forward to seeing her grow in her career with us.” 

With regards to our Trainee Solicitors,

Max Marmor joins the Commercial Property team as a Trainee Solicitor in London, after working alongside the Dispute Resolution team and  Commercial Property team as a paralegal for the past year.

We also congratulate Mike Jenkins who is promoted to Trainee Solicitor in the Commercial Property team in St Albans, after working alongside the team there for the past 10 months.

Lastly, we welcome Gabriel Cooke as a Trainee Solicitor to the Corporate and Commercial team in St Albans. Gabriel has been working alongside both the Employment, and Corporate and Commercial teams as a legal Admin Assistant for the past 7 months.

Sherrards Trainee Academy Partner, Michael Lewis says, “It is fantastic to see the Trainee Academy grow and see three excellent members of the team stay with us to begin their career as lawyers. We look forward to supporting them on their route to becoming Solicitors. I am also delighted that Abroo is qualifying with the firm after a highly successful training contract with us.”

Jonathan Broad started his career by dealing with property matters for both Church of England clients and state-funded schools before moving and gaining experience in the commercial sector.  Sherrards is now the third firm where he has worked closely with Shane Knight. 

In his spare time, Jonathan submits a (very small) number of questions that get used on the BBC 2 Quiz Show Only Connect. 

That’s Jonathan.

We asked Jon Hussey, Director of Financial Planning at Lumin Wealth Management to sit down with us and talk about working alongside the teams at Sherrards.

Jon kindly played ball and also left us a glowing review!

“[Alasdair] has a good professional team around him, which makes things easy.”

Here, Jon talks about our Managing Partner Alasdair, their long relationship, and the Commercial Property teams who have supported Jon, his business, and its clients for nearly thirty years.

To find out more about Lumin Wealth, please click here.

His approach is straightforward and pragmatic, and always aligned to your needs.

Chris takes pride in building lasting relationships with his clients, understanding who they are and what they do, with the aim of becoming their trusted advisor.

Chris’ work includes but is not limited to asset management for extensive office and retail portfolios, sales, acquisitions, option agreements, conditional contracts, leases and agreements for leases including development works, financing and re-financing.

Chris’ clients range from owner managed businesses to institutional investors, and Chris also has significant experience of acting for charities and educational organisations.       

That’s it – no fuss, just facts.