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The Bill aims to modernise the UK's planning system, promoting rapid housing development and infrastructure while balancing environmental sustainability. Members should prepare for a dynamic landscape with new opportunities and responsibilities as these reforms take effect, offering new avenues for growth while necessitating adaptability to regulatory changes and a commitment to sustainable development.
As many towns and cities embark on substantial regeneration projects, there is huge potential in the medium and long term in delivering prolonged growth across many commercial channels and as time progresses, we expect to see a substantial keenness from many investors.
The Act is a cornerstone of commercial property law, offering security of tenure to business tenants while balancing landlords’ rights. However, Propertymark believes it is time to modernise the Act to reflect today’s challenges, including Minimum Energy Efficiency Standards (MEES) and fairer lease agreements.
Although we see key aspects of the economy stabilise, the commercial property sector continues to face challenges, as many business sectors evolve to keep pace with ever-progressing trends and shifts in demand.
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