New bakery opens its doors in the centre of Nottingham

A new continental bakery has opened its doors in Nottingham City Centre. Bakerino Ltd has signed a 5 year lease on a 50 square metre unit at 3 Cheapside which was formally operated by Jessops.

Bakerino Ltd offers customers a wide range of freshly baked food at sensible prices. Their unique speedy layout enables Bakerino Ltd to pass on the savings they make on staffing costs directly to its customers.

Commenting on the opening Alex says “It has been a tough few months waiting for everything to come together but we are thrilled to be open. Bakerino is a brilliant self service concept that is very successful in other parts of Europe, we hope to recreate the same success in the heart of Nottingham”.

Emma Dancer Commercial & Residential Property Partner at Andersons Solicitors comments “The lease for Bakerino Ltd is unusual as the Council's freehold is not registered and therefore we had to put a caution against first registration so that if the Councils land was to be registered our clients' interest would automatically be protected.”

Emma Dancer is a Commercial Property Partner at Andersons Solicitors she can be contacted on 0115 988 6722 or by emailing: edancer@andersonssolicitors.co.uk

New store opens to show its not all doom and gloom on the high street

Nottingham City Law firm Andersons Solicitors is delighted to complete the Commercial Lease of 119 Main Street, Sutton Bonington on behalf of Newton’s of Sutton Bonington.

Newton’s of Sutton Bonington is a specialist country clothing and shooting accessory store stocking an extensive range of technical shooting attire from the market's leading brands.

Emma Dancer, Commercial & Residential Partner at Andersons Solicitors comments “It’s great to have some good news within the property market and to show that people are still starting businesses – it’s not all gloom. As many commentators are saying if you still have a product that satisfies peoples wants and needs with hard work this should ensure a measure of success in the recession. Fashion and peoples hobbies are always evolving and this should encourage new ventures. All retailers should be aware of changing tastes”.

Edward Newton, owner of Newton’s of Sutton Bonington comments “With tough times ahead for UK retailers it is important to be able to offer quality products combined with the highest levels of customer service. The key to our future success will be keeping our operating costs to a bear minimum and identifying which products our customers actually want so not tying up vital cash-flow in redundant lines. Hopefully this could be the year for the specialist retailer!”

Emma Dancer is Commercial & Residential Partner at Andersons Solicitors. She can be contacted on 0115 988 6722 or by emailing edancer@andersonssolicitors.co.uk.

Landlords to lose control of tenancy deposits

Landlords are being warned that they will lose control of the deposits paid by their tenants when new regulations are introduced later this year.

Instead of retaining the money, property owners will have to hand it over for safe keeping to an independent company appointed by the government or enter into an insurance scheme.

Failure to comply with the new regulations within 14 days of a deposit being handed over could lead to hefty fines.

Emma Dancer, residential property specialist at Andersons Solicitors in Nottingham, says the tenancy deposit scheme was introduced almost as an afterthought in the Housing Act 2004 which is now coming into effect.

“It seems to have sneaked in unannounced but it’s going to have a serious impact because it marks a major shift in the balance of power with everything now being skewed in favour of the tenant.”

The change has come about following research showing that many tenants claim that landlords withhold too much of the deposit when the tenancy agreement ends.

Miss Dancer says the government has reacted by clamping down on all landlords.

The new regulations are due to come into force in October 1 and will apply to properties rented out after that date.

“Under the new scheme, when a tenant pays a deposit the landlord will have 14 days to hand it over to a government appointed private company. Alternatively, he could keep the money but would then have to register with an insurance scheme administrator who could reimburse the tenant in the event of a dispute.

“If he fails to enter into one of these arrangements then the tenant can apply for a county court order forcing him to do so. In these circumstances, the court must also order the landlord to pay the tenant an amount equal to three times the amount of the deposit. The landlord won’t be able to evict a tenant until such a dispute is resolved.

“It is quite draconian. Landlords could effectively be fined several thousand pounds for failing to comply within 14 days.

Miss Dancer said that the law doesn’t offer any comfort to landlords if the tenant withholds the final month’s rent when he leaves.

“The landlord won’t be able to take the money he’s owed from the deposit. He’ll have to go to court to recover it. And if the tenant and the landlord disagree about how much of the deposit should be retained against damage caused to the property, the case will have to go to arbitration involving further time and costs.

“As if this isn’t enough, the independent company that runs the scheme will be able to siphon off some of the interest earned by the deposit money.”

The government insists the changes are necessary to protect tenants from landlords who don’t repay deposits. But Miss Dancer said the system seemed to be punishing the responsible majority for the actions of a tiny rogue element.

“More than ever it’s vital that landlords keep up to date with changing legislation and make sure they comply with the new regulations. Failure to do so could result in fines and court costs running into several thousand pounds.”

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