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Develop or Refurbish Property

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Lawdit Solicitors - Expert Author

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10 February 2010

As developers have been struggling to obtain loans from banks and building societies for new build projects, they seem to have diverted their concentration to refurbishment projects of existing premises.

The British Council for Offices has identified in its November 2009 report , "Can do Refurbishment", that there are advantages of refurbishment versus new build projects:

- possible savings in the projects;

- increasing the value of the existing investment;

- possible improvement of the premises and thus the environments offered to client and customers taking advantage of capital allowances; and

- possible advantages in time scales in the planning process for existing sites compared with new builds.

Refurbishment appears to be an attractive option to developers in the current market and it can have its advantages. However, as with any project, it is important for developers to do their homework prior to commencing any project. In particular, developers are reminded of the environmental and health and safety requirements that will be specific to each project.

Inam Ali is a Solicitor at Lawdit, specialising in Commercial and Intellectual Property Law, and can be contacted via email: inam.ali@lawdit.co.uk


About the Author

Lawdit Solicitors offer services and advice for litigation, commercial contracts, Intellectual Property and IT legal agreements. We are experts in commercial law with a heavy emphasis on Intellectual Property, Internet and e-commerce law. Lawdit is a member of the International Trademark Association, the Solicitors' Association of Higher Court Advocates and we are the appointed Solicitors to the largest webdesign association in the world, the United Kingdom Website Designers Association.



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Article Published/Sorted/Amended on Scopulus 2010-02-20 16:38:20 in Legal Articles

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