The Economic Crime and Corporate Transparency Act 2023 (ECCTA) received Royal Assent on 26 October 2023, with the provisions of ECCTA to be brought in by secondary legislation in stages throughout 2024 and 2025. It was widely thought that the provisions of ECCTA that effect changes to The Register of Overseas Entities regime (originally introduced by the Economic Crime (Transparency and Enforcement) Act 2022 (ECTEA)) would follow later this year, but the Economic Crime and Corporate Transparency Act 2023 (Commencement No. 2 and Transitional Provision) Regulations 2024 have effected certain changes to the regime as of 4 March 2024, which we will discuss further in this Insight.

Both corporate occupiers and investors are aware of the sustainable real estate imperative, but closing the gap between intention and action is challenging – and expensive. Our study sheds light on an increasing dislocation in the market: 79% of corporate occupiers say that by 2030 the sustainability of a building will be the most important factor in the rental decision-making process for their organization

The King’s speech announced a new Leasehold and Freehold Reform Bill ‘to reform the housing market by making it cheaper and easier for leaseholders to purchase their freehold and tackling the exploitation of millions of homeowners through punitive service charges’. It also addressed some key points in the Renters (Reform) Bill. This note sets out some of the key proposals and commentary in respect of the same.

In September, ahead of the Conservative party conference, Rishi Sunak announced a step back from the Government’s net zero policy and targets.  This was followed up last week by the Government’s formal response to the Climate Change Committee’s 2023 Annual Progress Report to Parliament (October Response). Whilst we await detail on what might follow from a legislative perspective (several consultations are promised to land before the end of this year), the messaging suggests that the next steps in the domestic Minimum Energy Efficiency Standards (MEES) regime are now off the table, meaning domestic premises with an EPC of E or above may continue to be let on the open market, without any regulatory requirement for further investment from landlords (or resulting higher rents for tenants).  If domestic MEES have been put on ice, where does that leave their sibling commercial (aka non-domestic) MEES?  

Read our first report that reveals how the “green premium” is impacting commercial real estate values, with over 71% of investors expecting properties with strong energy performance standards to have a higher resale value than an equivalent property with lesser energy credentials. Sustainability is shaping the commercial real estate market.