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Activity holds up despite unease

Article Abstract:

There is still considerable confidence among commercial property investors in the UK, despite the instability of international financial markets and uncertainty about future domestic economic expansion. Indeed, Estates Gazette Interactive's Deals database monitored around 6.7 billion pounds sterling of direct investment transactions in the UK commercial property market in 1998, up by more than 8% from 1997. The South is still attracting the largest proportion of investment. Outside this region, investment is mainly going to the Midlands, Scotland and the North West.

Investments

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Value judgments

Article Abstract:

The Rating (Valuation) Act implemented by the UK government at the end of May 1999 seeks to re-establish the approach to valuation that was believed to exist before the rating hypotheses changed in the Local Government Finance Act 1988. It introduces assumptions that a valuer must make when establishing value by reference to the statutory tenancy detailed in para 2(I) of Schedule 6 to the 1988 Act. It will not really be possible to assess the impact of the new legislation until it is tested in the Lands Tribunal and higher courts.

Laws, regulations and rules

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