When developing industrial commercial property for sale or rental, you will need to seek advice on meeting your obligations in order to reduce risk to yourself and your business.
With a substantial market for industrial properties, we have seen a growth in the number of development projects undertaken by commercial clients – but also a corresponding rise in misunderstandings involving industrial property law.
We’re taking a deep dive into the elements of industrial property developments which require significant legal advice to reduce the potential for financial penalties and project delays.
Land use
Certain land and existing properties will have use regulations attached meaning that they cannot be used for certain purposes.
Developers will need to seek advice on whether they are permitted to build or redevelop industrial commercial property on a site, and how to obtain the right permissions and regulatory approvals.
Environmental compliance
Developers need to ensure that their projects comply with environmental laws and regulations and do not cause harm to the surrounding areas.
This includes conducting environmental assessments and obtaining necessary permissions related to air and water quality, waste management, and hazardous materials.
Certain areas may carry additional requirements to protect the surrounding areas, such as agricultural land or preservation sites.
Putting the right contracts in place
When developing industrial property, it is important to have the right construction and supply contracts in place, detailing:
Not seeking advice on contracts can cause significant delays in your project and lead to disputes in the future.
Financing
We can advise you on aspects of financing an industrial property project, including the most appropriate way to structure its finances through debt, equity or a combination of both.
Depending on how you finance your development, you may need advice on:
Early advice can help you to minimise risk as industrial property developments can run up significant costs.
Dispute resolution
Legal advice can help establish processes for resolving disputes that may arise with contractors, tenants, or regulatory bodies, potentially avoiding costly litigation.
As specialists in commercial property law, we can support you throughout the life cycle of an industrial commercial property development – making sure you have everything in place for a successful project.
We can advise you on the development, management and leasing of industrial commercial property. Contact us to find out more.
