PredictionsUK real estate predictions 2012
New realities, new perspectives
Real estate and infrastructure
Real estate is not the place for off-the-shelf solutions. At Deloitte we recognise this, and our approach is to understand the requirements of your business and to develop solutions that address these directly and practically.
Our team brings together experts with many years of industry and professional experience in tackling the complex issues surrounding construction, property ownership and leasing.
How we can help
Audit and assurance
Our team brings together experts with many years of industry and professional experience. Our approach is to understand the requirements of your business and develop solutions that address these directly and practically.
Our services include:
Our dedicated debt advisory team (part of our corporate finance group) has an established track record and extensive experience in providing debt advisory services to clients both in Ireland and internationally.
Our specialist team provides a wealth of services, including corporate finance advisory services on infrastructure (such as public private partnership) transactions, financial model build and review services, debt advisory services and project management, as well as audit, accounting and taxation advisory services.
The team has in-depth experience of advising the public sector on the procurement and funding of these public assets and of advising the private sector on its tender for the provision of these assets.
NAMA related services
Deloitte has provided services to the real estate sector in Ireland and internationally for many years. Given recent events in Ireland our work has involved working closely with clients since the establishment of the National Asset Management Agency (NAMA). NAMA has become a large force within the Irish Real Estate market and it is important that our clients find a way of developing a strong working relationship with NAMA into the future.
The Deloitte real estate team can assist borrowers, lenders and investors across a variety of services including:
Pension planning for property executives
There are three key pension issues for CEOs and other directors to consider as they approach retirement:
Our pension planning service
At Deloitte Pensions and Investments Limited, our team of Pensions specialists advises CEOs and other directors on these and many other issues. Our solution-based pension consulting service seeks to eliminate the conflict of interest issues that tend to muddy the waters when employer, trustees and scheme members are all being advised by the same advisers. This service includes:
Property investment - Ireland
After the handsome returns that have been generated from the Irish commercial property market in the recent past, the transactional activity in the Irish property market continues to be slow: the number of commercial property deals are a fraction from the peak. The main cause has been the difficulty of potential buyers in securing debt financing. Investors have and continue to experience extremely challenging times.
From a tax viewpoint, the recent reduction in stamp duty from 6% to 2% on commercial property and the introduction of the Capital Gains Tax incentive, which will apply to property bought by the end of 2013 and kept for more than seven years, will somewhat contribute to stimulate the Irish Property Market. Further reductions in interest rates combined with increased stability in the debt markets and availability of credit will hopefully influence activity in this sector. However, it will still be a difficult market.
Investors are seeking to limit exposures by focusing on disposals, reorganising their structures to minimise costs, generate cash and potentially boost balance sheets where possible to show strength where needed.
All such transactions will have a stamp duty and Value Added Tax consequence and potentially capital gains tax will need to be addressed. We can help our clients minimise the tax impact of their strategies for maximising value from property portfolios and help them put in place strategies to reorganise their portfolio and to dispose of property tax efficiently, raise finance and reduce property costs.
Succession and wealth protection planning
Succession and wealth protection planning are vital to ensure that wealth is maintained for the next generation and, where possible, that value accumulates in the hands of the next generation from the earliest possible opportunity. With capital acquisitions tax and capital gains tax rates of 30%, effective estate planning and the use of available tax reliefs can often times minimise these taxes to 3%.
Deloitte has a team of expert advisers who practice specifically in the area of wealth protection and estate planning. Our aim is to ensure that clients can transfer their assets to the next generation in the most tax efficient manner while at the same time allowing them to retain control over these assets should they so wish.
Planning alternatives we would consider and examine in structuring your affairs include:
Talent management in the property industry
Performance is powered by the effective use of financial, technological and human capital. Of the three, human capital is proving to be the most challenging to secure, the most elusive to quantify and the most critical for success.
We provide an unrivalled breadth and depth of services to help our clients maximise the value of investments made in, and by, their people. We differentiate ourselves by providing integrated Human Resources (HR), Transformation, Technology and Tax solutions to support business improvement and change. Deloitte has the largest integrated HR capacity in Ireland and UK, with more than 700 consultants covering the spectrum of Strategic HR and Change Management. Globally, Deloitte is one of the world’s largest HR Consulting firms, with over 6,000 staff in 145 locations.
Clients seek our assistance with a range of people management issues. Our Strategic HR Solutions range from helping companies align their people and business strategies to reorganising their service delivery models and architectures.
Tax depreciation is all about maximising the capital allowance potential of a property. Buildings themselves (unless they are industrial buildings or certain specified buildings) do not qualify for capital allowances. However, every building does contain items of plant and machinery that qualify for the normal plant and machinery allowance. Our Tax Depreciation service line aims to maximise the capital allowance claims in respect of such items.