Jane Canham of Seddons Property Litigation team and Emily Lui, Sara Hall and Katherine Burrell of Seddons Property Department utilised their experience, knowledge and contacts to put together a crack team of property professionals from all walks of the industry to produce a seminar tailored to the current economic climate.

The theme of the day was to show that making money is not reserved for the good times, but the bad times too. The difference is the method and type of investment.

Seddons’ Head of Property Litigation, Leon Golstein, chaired the proceedings noting that making money from property investment when property prices are consistently rising is not very difficult. You simply buy, wait and sell. The experts that donated their time to the morning’s event have all formed their opinions on ways to achieve similar results when markets prices are tumbling and when there is no end in sight. Attendees were treated to insights into how to make current investments work harder or better rather than falter.

Paul Letman, barrister of 3 Hare Court provided valuable advice for those landlords who have tenants falling on hard times. The remedy of forfeiture can be a landlord’s most powerful tool but should be reserved for exceptional circumstances. The power to take back your property from tenants for breaches of the lease, including non-payment of rent, can be used for both residential and commercial property but should not be conducted without the use of expert legal advice.

Frank Wessely from Vantis took to the floor to explain the basics of Insolvency. Frank talked the room through the procedures open to creditors where no other option is available. Insolvency is a last resort but Frank explained the workings of Company Voluntary Arrangements and Individual Voluntary Arrangements in the context of property owners and how useful these can be to creditors.

It is always helpful to know how other investments are doing in comparison with property. Obviously property is not the only investment opportunity and Graham Thomas from Seddons Wealth Management reminded us as such. Graham gave his views on how other markets have conducted themselves through these troubled times and gave his view of the ‘green shoots’ the media keep talking about. We are warned of being weary of false recovery as Graham explained the W theory where markets will start to recover only to nosedive once more showing that the economy wasn’t ready to recover just yet.

John Barnett of Barnett Ross Auctioneers rounded off the morning with an insightful view from an experienced auctioneer. Helpful tips on where to invest flourished and good examples of safe investments were handed on a plate. Who would have thought that purchasing properties with Rent Act tenants in place was a good idea during the good times? But today it seems like a sound investment with either elderly tenants or those that may be bought out. The increase in capital value at the end of that tenancy will no doubt beat current interest rates. There are things to watch out for and a good solicitor is recommended to dodge pitfalls.  

Leon Golstein summed up the morning and finished with a reminder that solicitors have a wealth of contacts from various industries and our clients often don’t utilise us to our full potential in that respect.

Should you wish to discuss the opportunities talked about or would like a copy of the handout provided on the day, please call Jane Canham on 020 7725 8055 or by email on janec@seddons.co.uk