Land reclaimed by enclosing an area of water and then draining and/or pumping out from the enclosure. As a result the land may become physically suitable for agriculture, horticulture, building or other development. A classic example of pumped-out land is the polders of Holland. Cf MADE-UP LAND.

Land, initially unsuitable for building, which has been contoured or levelled by tipping non-toxic and otherwise environmentally acceptable waste materials and covering them with soil to a satisfactory depth. Such land may become suitable for building after the lapse of a period sufficient for the particular waste to become consolidated. Cf MADE LAND.

A large store operated by retailers who are known or expected to be effective in attracting the shopping public, eg a department store or supermarket. In the process this enables other shops en route or in the vicinity to trade profitably. In practice the term is mainly used to describe a store in a shopping centre development.

An old word meaning rent.

Continue to keep something in a particular condition. In property terms it refers specifically to the upkeep of, for example, a building or other structure, plant and equipment, landscaping or roads. In a lease covenant, “to maintain” means to keep substantially in the same condition as when the lease was granted. Cf REPAIR.

In property parlance, the keeping of a building, structure or other physical feature in a specified, eg wind and weather tight, condition. The approved cost of maintenance may be deductible for income taxation under Schedule A or Schedule D Cases I, II or VI. See CAPITAL EXPENDITURE; MAINTAIN; REPAIR.

Another term for defects liability period.

A fund set up in a trust which can be used only in maintaining a building to the extent defined by the trust deed, thereby benefiting the occupiers. Usually it is for a single building in multi-occupation to ensure that cash is available when required. See RENEWAL FUND.

A separate dwelling forming a part of a building but usually on more than one floor (distinguishing it from a “flat”). Although originally found in converted houses or above shops, today there are instances where whole buildings have been purposely designed to provide maisonettes or a mixture of maisonettes and flats. (Colloquially, but incorrectly, the term is sometimes applied to two-storey buildings subdivided into flats.)

For value added tax purposes, a freehold interest or a lease for a term exceeding 21 years.

In bad faith. Cf BONA FIDE.

The doing of an unlawful act Cf MISFEASANCE; NON-FEASANCE.

Historically, a wide and perhaps sheltered promenade; more recently in property terms, describing a wide walkway through or in a shopping centre.

A fund managed by a specific body, eg an insurance company on behalf of a number of investors, each having a stake according to his contribution. The fund, investing the large sums of money raised, is able to acquire a spread of property investments, enabling the individual investors to have a wider interest in the market sector than they could otherwise achieve. Cf PROPERTY BOND; PROPERTY INVESTMENT TRUST; PROPERTY UNIT TRUST.

A retail or mixed development in which the retail element is planned, developed, owned and managed as a single entity and contains at least 5,000 m² (55,000 sq ft) of gross floorspace (gross leasable area), comprising three or more retail units.

See PROPERTY MANAGEMENT.

See ACTIVE MANAGEMENT.

See FULL MANAGEMENT.

See PROPERTY PORTFOLIO MANAGEMENT.

An agent undertaking all, or some, property management functions on behalf of a landlord.