Glossary

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There are currently 5 names in this directory beginning with the letter P.
Phoenix Company
Phoenix Company - A phoenix company is formed when the assets of an insolvent company are purchased by the company's directors during an insolvency such as administration or liquidation.

Possessory Title
Possessory Title - A person who owns land or property but does not have the title deeds or is able to prove ownership at Land registry, as the deed may have been lost, destroyed or stolen in the past.

Practical Completion
Practical Completion - A certificate usually issued by the architect or lead consultant to certify that the property has been completed in accordance with the development agreement. Some minor works (snagging items) may remain during defects liability before a certificate of final completion is issued.

Pre-Let
Pre-Let - A property on which a lease has already been agreed in advance of the property being purchased or developed.

Prime Location
Prime Location - Prime location properties is considered as the best location for a property to generate the highest value and rental in the market. Some factors that determine whether a property is in a prime location include its transport links, quality of services and amenities such as shops and parks, overall wealth and level of regeneration and development of the area.