Development, structures and funding

Development, structures and funding guidance:

ARCHIVED: This Precedent incorporates the Standard Commercial Property Conditions (Second Edition) and is no longer maintained. The Third Edition of the Standard...

Precedents

ARCHIVED: This Precedent incorporates the Standard Commercial Property Conditions (Second Edition) and is no longer maintained. The Third Edition of the Standard...

Precedents

Date [date of contract] Parties 1 [Seller name] [of OR incorporated in England and Wales with company registration number [number] whose registered office is at]...

Precedents

Assignment by the tenant The more important a particular tenant is to the viability of a particular development, the more likely that the landlord will insist the tenant...

Practice Note

An inherent defect may become apparent several years after the tenant has taken over the property. This may be long after: • the building contractor’s liability under the...

Practice Note

Collateral warranties The typical terms of a collateral warranty provided to a tenant by a consultant, contractor or sub-contractor deal with: • compliance with...

Practice Note

Rent commencement date Agreements for lease generally specify that the tenant is obliged to take the lease on, or within a short period after, certification of practical...

Practice Note

A developer has a far greater prospect of securing both: • development finance from a funder to fund the costs of development works, and • a commitment from an investment...

Practice Note

Defects Defective workmanship is a feature of virtually every construction project. Very minor defects will be dealt with by a snagging list (see: Snagging list) but...

Practice Note

An agreement for lease with development obligations can give rise to a variety of issues, eg the right to claim an extension of time, measurement, whether practical...

Practice Note

Certification of practical completion under the agreement for lease (usually prompted by certification of practical completion under the building contract) triggers the...

Practice Note

Delay in completion of the developer’s works can be of far greater concern to a tenant than, eg whether the works are in accordance with the specification or the...

Practice Note

The tenant will appoint its own surveyor and other consultants to monitor the construction works and to represent the tenant’s interest in relation to various...

Practice Note

Insuring the developer’s works As between the developer and the tenant, the developer should covenant: • to ensure that the developer’s works are insured against usual...

Practice Note

If the developer fails to achieve practical completion by the target date set out in the agreement for lease, the tenant will expect to receive damages for the lost...

Practice Note

In some cases, a developer and a tenant agree that the rent under the occupational lease will be a specified figure. However, in many other cases, the annual rent is...

Practice Note

As-built drawings, health and safety file, etc In the context of a lease of an entire building, the tenant is likely to have both contractual and statutory liability for...

Practice Note

Under an agreement for lease, the tenant’s obligation to take the occupational lease only arises once the developer’s works have been completed and are fit to be taken...

Practice Note

Even if a specialist subcontractor is not providing any significant degree of design input in relation to its particular element of the developer’s works, it may well be...

Practice Note

In some respects, the only real value in any contractual duty under an appointment or obligation under a collateral warranty lies in the professional indemnity insurance...

Practice Note

A funder will often only agree to fund a development if it has been pre-let. The existence of the pre-let(s) comforts the developer’s funder that its lending position is...

Practice Note

Plans, specifications, etc In most cases, the tenant will apply its own bespoke fit-out to the developer’s finish condition in which the premises is delivered at...

Practice Note

Developer default Granting a tenant the right to terminate the agreement for lease in the event of default by the developer has potentially disastrous consequences for...

Practice Note

What is biodiversity net gain? Biodiversity net gain is a principle which aims to leave the natural environment in a measurably better state after development than...

Practice Note

This Practice Note: • discusses the development of the large scale private rented sector (PRS) • considers the Government’s incentive package for Build to Rent (BTR) in...

Practice Note

Produced in partnership with Martin Wilson 1 Capital allowances 1.1 In this clause 1: CAA 2001 means Capital Allowances Act 2001 Fixtures means those items forming part...

Precedents

Coronavirus (COVID-19): This Practice Note contains guidance on subjects potentially impacted by the government’s response to the coronavirus outbreak (see: Impact of...

Practice Note

On every construction project which requires external funding, the lender will appoint its own team of lawyers to draft and/or negotiate the various documents. Part of...

Practice Note

1 Construction Industry Scheme—for use where the landlord’s contribution is a reverse premium The Landlord and Tenant acknowledge that the Landlord’s Contribution is a...

Precedents

1 The [Covenantor] must not plant any shrub, tree or hedging and must not construct any wall or fence or any other structure whatsoever on that part of the visibility...

Precedents
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