Redevelopment of former offices into residential flats

“We have worked with E³ Consulting now on a number of occasions. The best reference I can give them is that we keep referring them on to our other clients, and will continue to do so.”

Project Manager

A mutual project team member on another non-residential project had introduced us to this client. Through extended dialogue with the client, we were able to identify the availability of tax relief on this redevelopment of a large disused office building into a multi-unit residential property with undercroft parking – where the client had not initially believed there to be any obtainable.

Through careful analysis of the cost information, coupled with a detailed site survey and extensive correspondence with the project teams, our surveyor was able to identify a clear distinction between the repair/maintenance of the existing building fabric, capital allowances qualifying assets in the residential ‘common areas’, and non-qualifying expenditure within a dwelling.

Property tax relief achieved:

■         Plant & Machinery Allowances – 2.5%

■         Integral Features Allowances – 8%

■         Repairs & Maintenance – 13%

■         TOTAL TAX SAVINGS APPROX. 5.9% OF PROJECT EXPENDITURE