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Book now for our Thruxton Go Karting day!

Fancy zooming round Thruxton on 6th July???

We’re delighted to announce this charity go-karting event organised jointly with RICS and Southampton Property Association.

Numbers are limited so book quickly if you wish to take part! Any queries to Tom Holloway – email tom@hi-m.co.uk

More details in the booking link below.

 

Cancelled: Annual cricket challenge PPA V SPA

Our annual cricket challenge with SPA due to take place on Tuesday 15th August 2017 has been cancelled due to holidays and difficulties raising a team. Unfortunately, It is too late in the season to rearrange and we will have to wait until 2018 to win back the cup (which we will!)

 

Charities benefit from property professionals’ annual gathering

Twelve charities across the Portsmouth region are set to benefit from thousands of pounds raised in one night by 200 property professionals.

More than £4,600 was raised at Portsmouth Property Association’s (PPA) annual charity dinner, held at The Royal Maritime Club on Friday evening (24thFebruary).

The event, sponsored by Portsmouth legal firm Verisona Law, included guest speaker Michael Portillo, the TV broadcaster, journalist and former Conservative politician.

In a surprise presentation for his 25 years of continuous service to the association, which has a record 170 members, PPA secretary Neil Hawkins was given a standing ovation.

In honour of his commitment to the PPA and the city region, Neil was gifted a painting of two iconic Royal Navy ships, HMS Victory and HMS Temeraire, both of which fought in the historic Battle of Trafalgar in 1805 under the command of Admiral Lord Nelson, who was killed in action.

In a glowing tribute by Rob Marchant, a former PPA chairman, Neil was described to guests as the “glue” which has held the PPA together and made it such a success.

Neil, a director at chartered surveyors Chandler Hawkins in Portsmouth, took on the administrative role in 1992, the year Conservative Prime Minister John Major returned a small majority, Silence of the Lambs was a hit horror-thriller film and Shakespears Sister topped the music charts with Stay.

He was rendered speechless by the surprise.

Clive Emson, the chairman of Clive Emson Auctioneers and a familiar figure in TV’s popular Homes Under the Hammer series, took bids in the grand charity auction of 10 donated lots – the highest bid of £500 was for a trip to the skyscraper Shard in London followed by lunch for two at Gordon Ramsay’s Savoy Grill.

Two signed reprints of Mr Portillo’s treasured 1863 British railways guide book,Bradshaw’s, which inspired the hit TV series he fronts, sold for £130 and £120.

In an entertaining – and sometimes serious – speech, he recounted self-deprecating stories of his political career as an unseated MP, Cabinet Minister and being part of a growing band of “former future Prime Ministers”.

Regarding his TV broadcasting experiences, he explained the reason why the original Bradshaw’s is kept in a children’s lunchbox, decorated with Thomas the Tank stickers, for safekeeping.

It is only entrusted to his hands by an assistant during filming because, reverently holding the hardback for the first time, Mr Portillo had promptly dropped it, splitting the book in two.

Steve Cripps, the first high street banker to hold the position of PPA chairman, and only the second chairman to have served a consecutive term of office at the PPA since being founded in 1920, said it was a great night.

Steve, who works for NatWest, added: “PPA members have once again shown their generosity to charities which touch thousands of lives across the Portsmouth region, a place we are all proud to work and live in.”

There are 12 charities the PPA is supporting. They are Portsmouth Area Talking News; Portsmouth Autism Support Network; QAH Portsmouth Neonatal Unit; Groundlings Theatre; Tonic Music for Mental Health; Hilsea Lido Trust; Portsmouth Family Welfare; Horizon Angling Club; South East Hampshire Community Outlook; Charter Academy Parent Council; Friends Without Borders and St Cuthbert’s Helping Hands.

PPA members include estate, lettings and property management agents, commercial property agents, chartered surveyors, developers, accountants, solicitors and bankers.

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Cricket clash sees Portsmouth reign victorious over Southampton

Off the pitch, we are friendly business rivals – but on the bone-dry turf there was little room for sentiment.

The fiercely-contested annual cricket match took place between members of Portsmouth Property Association (PPA) and Southampton Property Association (SPA) on Saturday 21st July.

Both associations represent hundreds of businessmen and women involved in residential and commercial property across the Solent region.

In a tense finish, PPA wrested the engraved silver trophy back from the SPA by one wicket in the 20-overs clash at St Helens Fields, Southsea.

Match organiser Andrew Prismall, Managing Director at HW Conveyancing Searches, said: “Having won the toss, SPA went into bat first and left the PPA chasing 90 for five in the heat.

“The odds were stacked against the PPA but the last batting pair, comprising of Tom Foster and 11th man Harnish Patel, who hadn’t played since school, somehow snatched victory from the jaws of defeat. With 18 runs needed, Tom thankfully rattled the boundaries. “Hats off to the PPA’s Dave Greetham for getting us off to a cracking start – he had to retire after hitting the 30-run maximum.”

Members of the PPA team included Nigel Kirkby of The Martin Ralph Group, Andy Hellier of Hellier Langston, Matthew Shaw of Banco Santander, Matthew Walton of Woodgate and Co, Steve Pozerskis of Bruton Knowles, Nigel Strutt of ADN Financial Solutions, Harnish Patel of Vail Williams, Dave Greetham of Gleeds and Tom Foster of Lewis Brownlee.

Members of the SPA team included Andy Gibbs of Charters Commercial, Joe Walker of Vail Williams, Jonathan Manhire of JLL, Kevin Parish of Smith & Williamson, Max Smeeth and Paul Moore of Ridge and Partners, Steve Fahy of Working Capital Specialists, Stuart Taylor of Duologi, Lenny Dalby of Blake Morgan and Simon Campbell.

Harry Groucott

Harry is the managing director at MH Architects Ltd. After graduating in Architecture from Portsmouth University in 1992, Harry worked in various private practices across Wiltshire, Surrey, Hampshire and West Sussex, became chartered in 1994 and joined MH Architects (formerly Miller Hughes Associates Ltd) in 1997. Harry joined the board as Managing Director in 2006.

You can contact Harry by email: hjg@mharchitects.co.uk or telephone: 01243 774 748.

Members: Nathanael King-Smith

NEW DATE – Take to the skies with our PPA gliding experience

Due to poor weather, we had to postpone our gliding evening from 19th July. We now have a new date of 2nd August in the diary.

So, if you’d like to soar through the skies this summer, sign up for our PPA Gliding Evening at Lasham Airfield.

Participants will embark on a glider flight with a qualified instructor and an aerotow to 2000 feet.

If you prefer to simply observe, please do sign up as everyone who attends the event will have the opportunity to network and enjoy a barbecue.

This event is on Wednesday 2nd August starting at 5.30pm – PPA members, friends and colleagues welcome.

Cost:

2,000ft Aerotow (including BBQ) – £65 per person.

BBQ only – £15 per person

Address:

Lasham Airfield (near Alton) – Postcode – GU34 5SS.

To book your place, please contact Rob Marchant – Tel: 01489 564606) or Email: robert@cliveemson.co.uk who will send you a booking form.

PPA Commentary: Why are rents payable for leasehold property becoming more of a ground for concern?

Leasehold property is a hot topic in the current legal press with both commentators and indemnity insurers alert to the potential rise in claims against solicitors relating to long leasehold transactions.

The Government issued a consultation in the summer of 2017, which produced over 6,000 replies and, following consideration of these, has produced proposals to crackdown on unfair and abusive practices in the leasehold system. One of the biggest focus areas is ground rents.

Traditionally, ground rents were nominal sums (£50 per annum). However, more recently, landlords are endeavouring to grant leases, or lease extensions, with ‘modern’ ground rents of £200 doubling every 10 years. After 60 years, the ground rent will be £12,800 and at the end of the term, on a new 125 year lease, it will be £819,200 per annum. It is easy to see how this would have a significant effect on the value of the property!

Developers have seen an opportunity to make ‘easy money’ and have been selling houses on a leasehold basis. The latest estimate is there are around 1.4 million leasehold houses and so this issue has the potential to affect the whole property market, not just flats. National developers, Taylor Wimpey, have been on the receiving end of some very negative publicity for imposing escalating ground rent clauses in leases of its new homes, but it is not the only developer to take advantage of the current lack of legislation in this area and surreptitiously generate a rather healthy income for itself. Indemnity insurers are predicting a spate of claims relating to improper advice on rising ground rents.

It is not just the buyer that solicitors need to consider, there is also the lender. A lender may have a complaint if it was not advised of any onerous ground rent provisions in a lease. The UK Finance Lenders Handbook (previously the CML Handbook) requires solicitors to report “any increase in the ground rent [that] may materially affect the value of the property” (para 5.14.9). There is also the consideration of ‘Good and Marketable title’ under para 5.6.1. Both Nationwide and Yorkshire Building Society have changed their CML requirements in relation to acceptable ground rents meaning buyers are finding it harder to get finance.

Another fast emerging risk is the possibility for the provisions of the Housing Act 1988 to bite. This Act came into force in January 1989 but the problem has only recently been recognised. The issue surrounds leases where the ground rent is, or will during the lease, be £250 or more (£1,000 or more in London). The lease then falls within the provisions of the HA 1988 and becomes an AST. The problem is centred on Ground 8 of Part I of the Second Schedule which provides that where x rental payments are missed in a given period the Landlord may apply to the Court and the Court must, without discretion, terminate the lease and award possession of the property to the Landlord (i.e. the freeholder). The power to grant relief does not apply to ASTs. Historically, the vast majority of leases have fallen outside of these provisions but with the rise of ‘modern’ ground rents then this issue now affects hundred and thousands of leases.

Another issue is leasehold enfranchisement. Flat owners who wish to extend their lease under the statutory provisions contained in the LRHUDA 1993 and reduce their ground rent to a peppercorn will find that any onerous ground rent is likely to scupper any extension claim. Under Schedule 13 of the 1993 Act the landlord is entitled to be paid a sum for the reduction in the value of the landlord’s interest. Put simply, this is a payment to reflect the loss of income from the ground rent for the original term. With a ‘modern’ ground rent of £200 doubling every 10 years the value of this is likely to be so high as to be prohibitive to the flat owner, meaning that they cannot afford to extend their lease at all. By the same token, collective enfranchisement claims may be scuppered if one or more leaseholder(s) in the block has onerous ground rent review provisions in their lease. Unscrupulous landlords have long tried to tempt flat owners to accept onerous ground rents by offering a relatively cheap up-front premium and sadly, those who have been poorly advised, are now realising that any potential saving was, in fact, a false economy.

Leasehold property is a minefield. Practitioners need to be alert to the risks and address these when advising clients. Any legislation enacted to regulate the leasehold market is unlikely to be retrospective and so the problem doesn’t appear to be one that will disappear any time soon.

PPA donates £7800 to a dozen local charities

Twelve local charities have each been handed a cheque for £650 from proceeds raised at several charity events held over the past year by the PPA.

In previous years, the PPA have chosen just one nominated charity to benefit from all the proceeds of their fundraising events, which include an annual quiz and the annual dinner, at which Michael Portillo (former Conservative MP/ TV presenter) was the guest speaker.

This year, following a conversation with Councillor Frank Jonas (the former Lord Mayor of Portsmouth) Steve Cripps, the current PPA chairman decided that all monies raised this year will be split across several local organisations with whom up until recently, Councillor Jonas has been affiliated and has helped to raise funds. Due to time contraints, Councillor Jonas has become unable to spend as much time as he would like to supporting these causes, so Steve and the PPA are delighted to step in and continue his good work.

Councillor Jonas was in attendance at the PPA’s annual charity presentation on Tuesday 14th March where representatives from the worthy causes accepted their share of the raised funds. Mike Dyer, from Verisona Solicitors & Advocates, who are the main sponsor of the PPA Annual Dinner, handed out the donations and congratulated all the charities on the excellent work that they undertake in supporting all walks of life in our community. The recipients were:

Congratulations to:
Portsmouth Autism Support Network,
QA Hospital Neonatal Unit,
Groundlings Theatre,
Tonic Music for Mental Health,
Hilsea Lido Trust,
Portsmouth Family Welfare Association,
Horizon Angling Club,
South East Hampshire Community Outlook,
Friends Without Borders,
St. Cuthbert’s Helping Hands,
Charter Academy Portsmouth,
Portsmouth Area Talking News.

PPA features in The News – 13th July 2018

This article, written by Kimberly Barber appeared in The Portsmouth News on 13th July 2018.

‘Dozens of hearing-impaired children are to receive listening and talking support thanks to a record-breaking donation of nearly £12,000 from Portsmouth Property Association. Much of the cash for The Elizabeth Foundation was raised at the PPA’s annual black-tie event.

Fiona Heath, fundraising manager at the foundation, in Cosham, said: ‘To fully support our 86 students a year, we need to raise £800,000. We do not receive any statutory funding, which leaves us relying on donations.

‘The money will massively help to achieve our goal of helping deaf children in the community learn crucial skills in listening and talking. We are incredibly grateful.’

PPA chairman Tom Holloway said: ‘It is lovely to see the PPA make a positive difference to the quality of life for children with hearing loss.’

More than £100,000 has been raised by the PPA for charities in the past 13 years. Members include estate agents, auctioneers, lettings and property agents, commercial property agents, chartered surveyors, developers, accountants, solicitors and bankers.

Read the full article here