Haunted by ghost buildings

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Skeleton structures: Dos and Don’ts

• DO thoroughly assess the current condition of the structure before restarting construction.
• DO employ a competent consultant who has extensive experience dealing with latent defects, to carry out a site investigation.
• DO take an interest in what insurance policies are in place and the amount of cover to protect your balance sheet and avoid unnecessary costs.
• DO take a practical approach to completing projects, by working with developers and allocating risk to the party best placed to deal with it.

• DON’T rule out the possibility of taking an equity stake in the project to ensure payment on completion.
• DON’T forget to think about the long term viability of a project, and the value of its location and use in the future.
• DON’T assume a property has to retain its original intent and purpose, but ensure the design structure can support its new use.
• DON’T rush into a resurrection project without looking into ownership – work with the bank and get hold of the title deeds to discover any previous claim.
 

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FEATURED COMMENT Please note that prior to a ghost building being resurrected again the building has been exposed to the risk of subsiden   2 Comments Read more comments »