REfocus: KPMG Real Estate Insights

KPMG in the Crown Dependencies and KPMG UK were proud to host you for our REfocus events held in Jersey and London.

Slides from the events are available to download below.

The event was co-hosted by James Le Bailly, Head of the Real Estate Group at KPMG in the Crown Dependencies and Craig Steven-Jennings, Head of Real Estate Audit in KPMG UK.

• Wendy Clemenson, Head of KPMG’s Real Estate Valuation Centre of Excellence,  discussed commercial valuations from an audit perspective sharing insights as to why real estate valuation is under increased scrutiny and how to deal with auditor queries on valuations. Wendy also discussed the information that is needed from the valuers and asset managers, common pitfalls/issues and where and how improvements can be made to the process by both the client and the auditor.
• Nicholas Bartlett and Heather Tomlinson focussed on the Building Safety Act 2022, which has introduced comprehensive legal reforms to building regulation, aiming for profound and sweeping changes in the industry. As experts in this domain, they provided guidance on the new landscape and offer clarity and insights on the key provisions of the Act.

The event was co-hosted by James Le Bailly, Head of the Real Estate Group at KPMG in the Crown Dependencies and Matthew Humphrey, Audit Partner in KPMG UK's Real Estate Department, for our Jersey event.

• Wendy Clemenson, Head of KPMG’s Real Estate Valuation Centre of Excellence,  discussed commercial valuations from an audit perspective sharing insights as to why real estate valuation is under increased scrutiny and how to deal with auditor queries on valuations. Wendy also discussed the information that is needed from the valuers and asset managers, common pitfalls/issues and where and how improvements can be made to the process by both the client and the auditor.
• Nicholas Bartlett (joined in London and Jersey) focussed on the Building Safety Act 2022, which has introduced comprehensive legal reforms to building regulation, aiming for profound and sweeping changes in the industry. As experts in this domain, they provided guidance on the new landscape and offer clarity and insights on the key provisions of the Act.

Our KPMG Real Estate leaders presented on a variety of topics, followed by a panel discussion and Q&A in which current developments in the UK market were explored further.  

• Saloni Hukku – Sawhney, a director in KPMG’s Real Estate deal advisory tax team in London, shared her extensive experience in advising on UK REIT structures;  
• Martyn Munford, co-head of central London valuations for Colliers shared what he was seeing in the central London market as we headed towards the end of the calendar year;
• A member of our KPMG in the Crown Dependencies’ indirect tax team provided an update on VAT and other tax matters, including the mechanics of HMRC VAT reviews on property structures and common VAT errors.
• David Postlethwaite, who leads KPMG in the Crown Dependencies’ ESG practice, shared his thoughts on the growth of mandatory sustainability reporting obligations affecting the Real Estate and Asset Management sectors, together with the increased demands for transparency from investors and banks.