Commercial property law is a vast and complex field. It’s also constantly shifting, as regulatory changes are brought in and new cases are won or lost, setting a precedent for the future.

There are also several significant legislative changes on the horizon, with several major reforms expected in 2024. As the new year is now in full swing, here are just a few of the changes in property law we’re anticipating in the coming months.

Upcoming Property Law Changes in 2024

Biodiversity Net Gain

Biodiversity Net Gain (BNG) is a strategy designed to preserve and improve natural habitats and protect green spaces and wildlife during development.

BNG was first introduced in the 2021 Environment Act but following delays, biodiversity net gain laws will only come into effect this year. The law will mandate that property developers are required to leave natural habitats better than they were prior to development. This will be measured by a biodiversity value, which will need to be at least 110% of the original value found on the site prior to its development.

BNG will come into effect for major developments from the 12th of February 2024 and will be mandatory for minor sites from the 2nd of April 2024 with plans for this to be extended from next year onwards.

Levelling Up and Regeneration Act

The Levelling Up and Regeneration Act (LURA) 2023 enables local authorities to force landlords of empty high-street properties to grant leases to successful bidders. The act will apply to qualifying premises that have been vacant for a set period and which the local authority considers to be key for the local economy. The aim is to reduce the number of unoccupied commercial properties to support the regeneration of high streets in an attempt to revitalise local town centres, support communities and boost the local economy.

The act sets out multiple requirements and responsibilities for landlords owning commercial properties in areas covered by the act, including obligations to collaborate with local authorities to identify suitable tenants within a specified timeframe for vacant properties.

LURA also increases the time limits for enforcement action currently set out in the Town and Country Planning Act 1990, extending the planning enforcement time limit in England to ten years from four years. LURA is expected to come into force in 2024.

Economic Crime (Transparency and Enforcement) Act 2022 - Register of Overseas Entities

The Register of Overseas Entities (ROE) was created by the Economic Crime (Transparency and Enforcement) Act (ECTEA) 2022. It mandates that overseas entities that own UK land or property declare their beneficial owners and update their records held by Companies House, annually.

In 2024, changes will be coming into force to tighten the current ROE rules, including new requirements to disclose HM Land Registry title deeds, and an obligation to disclose any changes to their beneficiaries, as well as detailed new rules around trusts and overseas entities.

Charities Act 2022 – Property transactions

The Charities Act 2022 came into force in October 2022, with some changes brought into effect later in June 2023 and more expected early this year.

Specifically, we will see changes relating to the disposal of charity-owned land and property. There will be a requirement for proof that the Charities Act 2022 has been complied with prior to the sale, and new rules around mortgages, liquidators and administrators.

Changes to Residential Property Law in 2024

These are just some of the expected changes we’ll see to property law this year. We are also anticipating numerous changes relating to residential property legislation, including the delayed launch of a consultation on the Landlord and Tenant Act 1954 and leasehold reforms.

2024 will also see the ongoing implementation of the new building safety framework, brought about by the Building Safety Act (BSA) 2022, one of the most significant legislative changes in recent years, following the tragic case of the 2017 Grenfell Tower Fire in West London.

Blacks Legal Ltd: Commercial Property Law Solicitors

As you can see, 2024 looks set to be a year of big legislative changes. If you need advice on commercial property law, our team of specialist commercial property solicitors are always on hand to offer expertise you can trust.

With over 30 years of legal experience, our team is fully equipped to support and guide you in all matters relating to commercial property law and help you manage your property portfolio safe in the knowledge that you’re fully compliant with new rules and regulations as they come into effect.

Contact us today to speak to one of our team about how our Blacks Legal can help with your commercial property needs.