Airspace and Rooftop Development Conference Checklist
This week, Bolt Burdon opened its doors to leading professionals within the industry to share their insight and knowledge on how to maximise the potential of rooftop development opportunities.
Potentially worth over £50 billion and with suggestions that it may be a solution to London’s housing crisis, it is no surprise that this topic attracts a high level of interest.
The conference discussed many of the legal and practical issues that need to be considered and overcome, which we summarise in the below checklist.
Rooftop Development Checklist
- The importance of an initial ‘health check’ before incurring an investment expenditure – can you actually develop?
- Strategise from the offset what needs to be done and when
- Why the right of first refusal and Section 5 of the Landlord and Tenant Act 1987 should not be ignored
- What other legal agreements may be needed? Airspace lease, scaffolding licence, licence to enter other parts of the building, party wall agreements, telecom masts?
- Overage and the need for careful consideration and drafting
- ‘The Airspace Lease’ – how does this govern the construction process and subsequent disposals?
- Service Charge issues and variations
If you are considering (or fear you might be affected by) a rooftop development or have any queries in relation to airspace and rooftop development, whether as a developer, landlord, investment funder or a leaseholder/adjoining owner, please contact Amie Mackay in our New Build Real Estate Team on 020 7288 4758 or email at firstname.lastname@example.org. Alternatively please contact one of our Airspace and Rooftop Development Team.