When you own a commercial property, it can be an exciting time when you decide to take the business further and develop the property. This can create huge benefits for your existing business, or provide you with opportunities to build your property portfolio and increase the value of your assets. It could also allow you to open up your property for commercial renting in the future.
As with all aspects of property law, there are a myriad of things to consider and ‘tick off’ before any development work can begin – whether you are developing a single project, a simple refurbishment, or a much larger, long-term scheme that requires planning permission, construction, and letting phases.
First of all it needs to be determined that the site has no title issues preventing development and clearly establish the boundaries. Then you can move on to acquiring the correct planning and building permissions, as well as considering the surrounding factors of the local area, or the specific environmental requirements for the development you have in mind, before any contracts are drafted. Only then work can begin on construction and any disposals required. Following the completion of the development project, you may also require additional support and services when it comes to the legal areas of entering in to a business partnership, merging two companies, or leasing the development to another business.
Any property development case from start to finish can be a particularly challenging one for both the developer and property lawyer, but it is one that we tackle on a daily basis at Sam Hawking & Co. We will work closely with you throughout the entire project, and always be on hand to offer expert, practical advice that will help ensure that you have a completely successful development. Sam Hawking & Co work hard to make your goals and objectives a priority, and using our vast experience of property development, we can look for ways to enhance profit margins and viability, as well as taking an innovative approach to reconcile the interests of all parties involved in the development scheme.