Annual directories including street-by-street guides to businesses and professional occupiers in London and some other major towns.

1. That part of the capital price obtained for the freehold or lease of a shop excluding the value of any goodwill but which is additional to the sum of the capitalised value of the estimated profit rental and of the value of any shopfittings of use to the ingoing occupier.

2. The term also applies to certain payments unlawfully demanded from incoming tenants by outgoing tenants or by landlords of residential property protected by the Rent Acts. Cf PREMIUM.

In land assembly, a property which is required in order to achieve the optimum development scheme, eg land which provides access to back-land so unlocking the latter's development potential.

See ANCHOR TENANT(S).

See ANCHOR TENTANT(S).

A person whose skill and experience is so essential to a business that he cannot readily be replaced. In the compulsory purchase of premises involving the relocation of a business employing key workers, the reasonable cost of their removal and other incurred as a result of the move may form a valid item of claim.

A small enclosed retail outlet, normally without toilet facilities and occupying less than 15m² of retail floorspace, frequently located on a public concourse or other place where it may remain open only during peak times and be closed securely when there are no customers. Kiosks are now sometimes included in managed shopping schemes.

Seemingly romantic, but merely a swing gate without a latch hung within a U-or V-shaped aperture in a fence or wall; designed to exclude animals and vehicles.

In a property context, a dealer who buys old houses for the materials which he can sell-on.

See RING.

1. Under section 533(7) of the Income and Corporation Taxes Act 1988, "...any industrial information and techniques likely to assist in the manufacture or processing of goods or materials, or in the working of a mine, oil well or other source of mineral deposits (including the searching for, discovery or testing of deposits or the winning of access thereto), or in the carrying out of any agricultural, forestry or fishing operations." The cost of acquisition of know-how may be eligible for a writing-down allowance. See CAPITAL ALLOWANCES.

2. Generally, knowledge acquired by education, training and experience, thus enabling more reliable decisions to be taken.