Basements and Residential Developments
Basements and Residential Developments
Given the ever increasing costs of purchasing a new home, often it is both more convenient and economical for individuals to extend their existing living space. Whether it be a loft conversion, a single or multi-storey extension, or downward growth with the development of a basement, Edwin Coe’s construction team has a wealth of experience with both the non-contentious and contentious aspects of residential developments.
The team assists clients in relation to all aspects of the development of residential property and has considerable experience in guiding clients through what can be a stressful experience, from the outset to the conclusion of a project, including advising clients how to deal with any disputes or issues during the project to achieve a successful outcome with ongoing protection for the works.
Funding
The team’s non-contentious work often involves acting on behalf of individuals who are seeking to obtain funding for their development works. The team is well versed in lender’s expectations of construction documentation including, among other things, building contracts, consultant appointments, collateral warranties, bonds and guarantees.
Even if funding is not required, adequate and appropriate contracts and appointments are essential both for the onward sale of a property, but also in the unfortunate situation of a dispute or a claim against parties involved with the development.
The team also has considerable experience of developments of property in the so called “golden” postcodes of Central London as well as other high value areas in London and the UK. In particular, Edwin Coe’s construction team is well versed in the specific considerations relevant for basements, including special foundations, party walls, construction and insurance issues. Further, the team works closely with other experts such as party wall surveyors, lenders’ monitoring surveyors and insurance brokers in order to deal with any and all aspects of a basement extension.
Disputes
In the unfortunate case where matters do not proceed as planned, the team appreciates that most clients would prefer to resolve any disputes quickly, without having to resort to formal (and often expensive) dispute resolution methods. As such, the team has extensive knowledge of the strategic analysis of contentious issues, as well as prognostic negotiations and practical resolutions.
Examples of our work
- Advising on and drafting the contract, appointments, bonds and warranties for a multi-storey basement development in Mayfair, London.
- Acting for the lender in relation to the construction documentation for a substantial loan in respect of a Central London property including basement development.
- Negotiating a special foundations agreement for a basement development on the Grosvenor Estate.
- Advising on and drafting institutionally– friendly construction documentation for a basement development at a property in North London.
- Advising a developer on the insolvency of his contractor in relation to a residential extension.
- Negotiating an agreement in relation to rights of light and drafting associated construction documents for a basement and multi-storey extension in Kensington, London.
- Acting for a developer against the contractor’s failure to complete works.
- Advising homeowners on the insolvency of their contractors and completion of the works.
- Advising on a defects claim in relation to basement works.
- Acting in relation to party wall and boundary issues associated with a basement development.
