Market Round-Up - Property forecast

MARK’S MARKET MAGIC

All providers: If you make alterations or improvements to your nursery, make sure you get building regulation approval for the works. It is not uncommon to see providers remember to seek planning permission but then forget all about building regulation approval. To check if your works need approval, see: https://www.gov.uk/building-regulations-approval/when-you-need-approval

Avoid: If you operate your nursery from a leasehold property and are considering selling in the next few years, make sure your lease has a substantial number of years remaining. Most buyers want upwards of seven years left on a lease so that they can continue to make profit for years to come. If yours is a shorter-term lease, enter into discussions with your landlord as soon as possible to try to extend it. Also, watch out for problematic landlord break clauses that could allow a landlord to terminate your lease at specific points during the lease term.