As a firm we have built a detailed knowledge of this Mayfair Street (once the site of the mansion illustrated) having previously bought No. 9/10 and leased No.12 (at the back of the lovely Royal Arcade) for Paul Smith and No. 46 for David Linley. We have recently added to the experience by purchasing the freehold of No.11 in a hotly contested bidding drama, again for our client Paul Smith. More
	Do Restrictive Covenants Breach Competition Law? Koopmans recently acted for Landlord on the letting of an industrial unit. Whilst this should have been straightforward, during due diligence solicitors discovered a restrictive covenant on the land prohibiting a specific trade on the site. Daniel Morris who was acting on this matter notes “in Spring 2010, competition law was amended to include the property sector, such that restrictive covenants on land could in some circumstances be unenforceable”. More Time of the Essence Landlords and tenants should make sure they have examined the rent review provisions of the lease to check if time is of the essence, and not wait for the review to come round, or to be triggered, before they do so. Justin Lester, who undertakes rent reviews and lease renewals at Koopmans and recently acted for a Tenant where time of the essence issues arose, advises “If the rent review clause expressly sets out steps to be taken, then failure to do so may have serious consequences”. More   Realising Potential – Asset Value Maximisation We often hear that developing an asset is simply a case of instructing an architect to produce some plans, submit a planning application, negotiate with the Local Authority and hope for the best. Jamie Arva disagrees: “If that was my asset, I’d be looking to increase the chances of development and seek to maximise the potential long before any application is determined – so at Koopmans as Asset Managers that’s what we seek to do”. More   Competition It’s been a little while since the last competition and there have been requests for another. Paul completed a Paris to London Bike Ride over 3 days in July in aid of Crohns and Colitis in Children and together with two of his friends raised almost £15,000. Paul went to one of the hospitals mentioned on his JustGiving page - which one? A Magnum of Champagne to a correct answer pulled out of the hat on Monday 31st October. One entry per person and if you can donate whilst researching then even better! Email here to enter.               Latest News – a sample of some of our work completed in the last few months:     • Rent Reviews in Camberwell Green and Denmark Hill SE5, St Albans, Great Malvern, Ipswich and Wotton- under-Edge. • Lease Renewals in Berners St W1, Radlett, Mill Hill, Longfield Kent, Hoxton Street N1 and Wandsworth SW11.   • Acquisitions in London W1, Chiswick W4 and Disposals in Biggleswade, London W1, Chancery Lane WC2 and Wandsworth SW11.           Stop Press: Our management accounts team pride themselves on securing rent payment on time and distributing to clients asap. Never to rest on our laurels we have recently recruited a credit controller to the team to ensure that even more of the rent is paid properly. If your rent or client’s rent is not being collected by the current managing agent on time then please give us a call on 01923 853749 – we think we can do better!           © 2011 Koopmans   Unsubscribe