News 2019 Issue 2

Property investment company Otium Real Estate has announced the sale of Newport Leisure Park to Monmouthshire County Council for £21m. After several years of significant investment, the 141,000 sq ft, 11 acre leisure park is fully let.

Cooke & Arkwright and KLM Retail acted for Otium ...

A ruling by the Supreme Court in December 2018 has introduced a degree of complexity to County Court proceedings involving the Landlord and Tenant Act 1954.

The Act enables a landlord to refuse to grant a new lease at the end of tenure on the grounds that it intends to carry out works on the building.

Cardiff Council has published its Economic Strategy for the future of the city following public consultation on the Council’s Economic Green Paper. Cardiff has a great story to tell: it is growing faster and creating faster jobs growth than any other core UK city, with burgeoning creative, financial and tech centres.

It is attracting a bigger increase in international visitors and is the UK’s number one city for quality of life. Cardiff also has one of the UK’s most skilled

The former Barclay Court Care Home at 104-108 Cathedral Road, Pontcanna in Cardiff has been sold for £1.65 million.The purchaser, SGR Estate, plans to redevelop the site into 24 exclusive modern apartments restoring the property back to its former glory.

The site consists of three adjoining Victorian town houses ...

Smart metering and energy services provider SMS Plc has announced that it is expanding its operations and taking new premises at Cardiff Gate International Business Park. SMS will move into 4,518 sq ft of refurbished offices formerly occupied by Coca Cola in Unit D, Copse Walk.

The company also owns/occupies two other premises at Cardiff Gate, another in Lamby Way, Cardiff, as well as five other locations nationally, including its headquarters in Glasgow.

Wales Air Ambulance (WAA) has officially opened its newest charity shop in the heart of the Welsh capital. The new store is WAA’s seventeenth store in Wales. Guests at the launch included Paralympic cyclist and WAA ambassador Simon Richardson MBE, along with the Deputy Mayor of Cardiff Councillor Rod McKerlich and Cardiff Blues rugby players James Botham and Dan Fish.

The 5,000 sq ft premises was acquired by Cooke & Arkwright. Ben Davies, Associate said: “Wales Air Ambulance had been seeking a landmark site in Cardiff city centre...

A pioneering Sri Lankan street food restaurant has chosen Cardiff as the location for its next site this summer. The Coconut Tree, which will open on Mill Lane, next to Cote Brasserie in June, will be the first of its kind in the city.

Cooke & Arkwright acted on behalf of the former occupier to identify the new restaurateur for the premises...

Business News Wales interviewed Business Rates Director Andrew West about the emerging differences between business rates in England and Wales.

Andrew 'demystifies' the complicated business tax, explains the appeals system and how it could be improved, and the adverse effect of the so-called 'Staircase Tax' on businesses occupying multiple floors in office blocks.

The podcast is 13 minutes long, with the different topics covered at approximately the following minutes within the broadcast timeline:

1:00 Summary explanation of business rates and revaluations; link between property values and the economy
2:00 Differences between Welsh and English business rates; understanding rating bills
4:15 Appeals processes and issues; English 'Check Challenge Appeal' system and software problems along with ensuing drop in appeals
8:00 Welsh system - how it could be improved; why it is difficult for businesses to interpret and to take up reliefs
9:20 Staircase Tax - Supreme Court decision on businesses occupying multiple floors in office blocks; adverse effect of backdated tax; English reversal decision
11:50 Welsh Government consultation on Staircase Tax - why Wales should follow England's lead; effect on competition.

Listen to the podcast.