Explanation—the reports are designed to assist the judge in understanding what costs have been agreed between the parties and which costs are disputed and why. Each party has to prepare its own report on its opponents costs and the court will consider the report alongside the costs budget when determining the amount it will approve. The note from the costs management sub-committee on proposed amendments dated October 2015 states that the BD reports have been brought in as a process by which 'some or all of the other side's budget can be agreed'.

An annual or monthly income and expenditure budget is useful only if it is monitored. You should compare your predicted

Costs provided for in a parties' costs budget ie estimated future costs which have not yet been incurred

ARCHIVED: This Practice Note has been archived and is not maintained. The Public Private Partnership (PPP) models are a popular way for governments to involve private investment, expertise and risk in procuring infrastructure, with the potential to deliver a project more efficiently and economically. One of the most popular PPP models for procuring infrastructure projects is Build Operate Transfer (BOT). The details of a BOT model vary depending upon the nature of the project. Generally speaking, a BOT involves the following: • a government (in the form of a government body or local authority) requires new public infrastructure facility, such as a road or energy facility • typically a consortium of private entities (often including financers, construction contractors and O&M contractors) forms a special purpose entity (often called Project Co) • Project Co and the government enter into a concession agreement, which sets out the terms upon which it will procure and operate the facility and be entitled to revenues • Project Co: ◦ obtains finance for the project ◦ procures the design

Build UK has issued a statement following the publication of BS 9991:2024 on 30 November 2024, which supersedes BS 9991:2015. BS 9991:2024 introduces a new standard for fire safety in the design, management, and use of residential buildings. Build UK notes that Approved Document B continues to reference BS 9991:2015 and that BS 9991:2024 does not reference the transitional arrangements for amendments to Approved Document B. This has led to uncertainty for those preparing Building Control Approval (BAC) applications for higher-risk buildings (HRBs) and basing fire safety designs on the recommendations within BS 9991:2015. However, the Building Safety Regulator has informed Build UK that, until further notice, applications for BAC for HRBs may refer to either BS 9991:2015 or BS 9991:2024 as the guidance or standard used to support designs.

Purpose built homes for rent in the private sector.

Properties that have been constructed specifically for the rental market, taking into account key design issues that are seen as increasingly important for good quality BTR as against apartment blocks which were initially envisaged as build for sale on the open market

STOP PRESS: An updated version of the National Planning Policy Framework (NPPF) was published on 12 December 2024. This content is being reviewed in accordance with the latest version 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 the form of the Home Building Fund (HBF) and the Private Rented Sector Housing Guarantee scheme (PRSHG scheme) • explains the current market context and some of the structures by which large scale BTR accommodation may be delivered • considers the potential for the delivery of affordable private rent (APR) as part of a development particularly in the light of the planning practical guidance (PPG) on BTR • outlines the common routes for local authorities to be involved in BTR Need for government incentivised Build to Rent sector Data from the English Housing Survey 2016-17 published in July 2018 which covered over 23m households in England, shows that the PRS accounted for 4.7m households across England, in comparison

Build to rent products have grown in the UK over the last twenty years, particularly in metropolitan areas such as London. Professionally managed and institutionally owned, its growth has followed similar trends in other countries such as Germany and the USA. Build to rent is now treated as a distinct asset class within the private rented sector and has been defined in the National Planning Policy Framework glossary to simplify treatment within the planning process. This Practice Note explains: • the nature of build to rent transactions and how they differ from traditional residential development finance • the common finance structures used for build to rent transactions • the key considerations when documenting build to rent transactions • the relevant regulatory and planning issues, and • the key legislation affecting the sector What is build to rent? ‘Build to rent’ refers to schemes where properties are constructed specifically for the long-term rental market. In a real estate finance context, it is usually a hybrid of development finance (in the 'construction

The ability and ease with which a project can be built efficiently in terms of time, cost and quality.

A 'builder' basket typically refers to a basket that has the potential to increase during the life of the facilities based on the performance of the borrower group through retained excess cash flow or a percentage of consolidated net income.

Law360, London: Grafton Group plc, a building materials and construction products business, said 3 June 2025 that it has completed its acquisition of the Irish arm of HSS Hire Group plc, the British tool and equipment hire company, for an estimated for €31.6m.