Savills capital allowances team was instructed on the valuation for forward purchase of a landmark office development in Manchester, with a total analysed base build spend of £30m.
Our involvement during the transaction due diligence stage enabled the placement of contractual obligations for the vendor to provide all necessary cooperation and information for capital allowances purposes.
The requirement for CAA 2001 s.187A compliance meant we needed to value development expenditure incurred up to the point of purchase to be pooled by the vendor and elected by both parties.
Savills then continued to monitor construction until completion of the development in order to produce maximised final valuation of capital allowances on the base build expenditure.