Built to suit - Revision history

Designing Buildings at 07:28, 23 November 2020

2020-11-23T07:28:10Z

← Older revision		Revision as of 07:28, 23 November 2020
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	* Vacant possession.		* Vacant possession.

−	[[Category:Construction_management]] [[Category:Procurement]] [[Category:Design_and_build]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Construction_management]] [[Category:Procurement]] [[Category:Design_and_build]]

Designing Buildings at 09:33, 4 August 2020

2020-08-04T09:33:15Z

← Older revision		Revision as of 09:33, 4 August 2020
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	* Speculative construction.		* Speculative construction.
	* Statutory declaration excluding security of tenure.		* Statutory declaration excluding security of tenure.
		+	* Types of development.
	* Vacant possession.		* Vacant possession.

	[[Category:Construction_management]] [[Category:Procurement]] [[Category:Design_and_build]]		[[Category:Construction_management]] [[Category:Procurement]] [[Category:Design_and_build]]

Editor at 16:39, 18 February 2019

2019-02-18T16:39:49Z

← Older revision		Revision as of 16:39, 18 February 2019
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	* Lease Negotiations - Tenants Checklist.		* Lease Negotiations - Tenants Checklist.
	* Leasehold.		* Leasehold.
		+	* Overbuild.
	* Property development finance.		* Property development finance.
	* Rent to buy.		* Rent to buy.

Designing Buildings at 10:05, 30 January 2019

2019-01-30T10:05:57Z

← Older revision		Revision as of 10:05, 30 January 2019
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−	Built-to-suit is a property term that describes a scenario in which a developer (or building owner) provides a building that is built (or refurbished) to a tenant’s exact specification. The developer finances the project and is responsible for its design, construction and completion. The developer retains ownership ~~for an agreed period~~ once the land and the building(s) are leased to the tenant.	+	Built-to-suit is a property term that describes a scenario in which a developer (or building owner) provides a building that is built (or refurbished) to a tenant’s exact specification. The developer finances the project and is responsible for its design, construction and completion. The developer retains ownership once the land and the building(s) are leased to the tenant.

	Built-to-suit properties can range from single units to multi-building facilities. Agreements are usually made between the developer and a single tenant, although more than one tenant may be involved.		Built-to-suit properties can range from single units to multi-building facilities. Agreements are usually made between the developer and a single tenant, although more than one tenant may be involved.

Designing Buildings at 07:07, 30 January 2019

2019-01-30T07:07:01Z

← Older revision		Revision as of 07:07, 30 January 2019
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	* Break clauses in leases.		* Break clauses in leases.
		+	* Build to rent.
	* Development appraisal.		* Development appraisal.
	* Feasibility studies for construction projects.		* Feasibility studies for construction projects.
Line 29:		Line 30:
	* Leasehold.		* Leasehold.
	* Property development finance.		* Property development finance.
		+	* Rent to buy.
	* Speculative construction.		* Speculative construction.
	* Statutory declaration excluding security of tenure.		* Statutory declaration excluding security of tenure.

Designing Buildings at 07:05, 30 January 2019

2019-01-30T07:05:26Z

← Older revision		Revision as of 07:05, 30 January 2019
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−	Built-to-suit is a term ~~from the property sector and~~ describes a scenario ~~where~~ a developer (or building owner) provides a building that is built (or refurbished) to a tenant’s exact specification. The developer finances the project and is responsible for its design, construction and completion. The developer ~~will retain~~ ownership for an agreed period once the land and the building(s) are leased to the tenant.	+	Built-to-suit is a property term that describes a scenario in which a developer (or building owner) provides a building that is built (or refurbished) to a tenant’s exact specification. The developer finances the project and is responsible for its design, construction and completion. The developer retains ownership for an agreed period once the land and the building(s) are leased to the tenant.

	Built-to-suit properties can range from single units to multi-building facilities. Agreements are usually made between the developer and a single tenant, although more than one tenant may be involved.		Built-to-suit properties can range from single units to multi-building facilities. Agreements are usually made between the developer and a single tenant, although more than one tenant may be involved.
Line 5:		Line 5:
	According to Savvas Kotsopoulos of law firm Miller Thomson, the arrangement between developer and tenant essentially comprises two agreements:		According to Savvas Kotsopoulos of law firm Miller Thomson, the arrangement between developer and tenant essentially comprises two agreements:

−	~~<ol style="list-style-type: lower-roman;">~~	+	# A development or construction agreement, the result of a request for proposal (RFP) process, which defines the relationship between the landlord and tenant from the design through construction of the building, and
−	~~<li>~~A development or construction agreement, the result of a request for proposal (RFP) process, which defines the relationship between the landlord and tenant from the design through ~~to the~~ construction of the building, and~~</li></ol>~~	+	# A lease agreement which stipulates the terms of the occupancy post-construction. In some cases, the provisions regarding the construction of the building are included in the lease itself or captured in an accompanying ‘work letter’.
−		+
−	~~<ol style="list-style-type: lower-roman;">~~	+
−	~~<li>~~A lease agreement which stipulates the terms of the occupancy post-construction. In some cases, the provisions regarding the construction of the building are included in the lease itself or captured in an accompanying ‘work letter’.~~</li></ol>~~	+

	The construction aspect of this arrangement is usually the key issue and the most complicated, warranting close attention to the landlord’s and the tenant’s responsibilities in this regard.		The construction aspect of this arrangement is usually the key issue and the most complicated, warranting close attention to the landlord’s and the tenant’s responsibilities in this regard.

−	Build-to-suit agreements can be highly complex, ~~given~~ they must encompass issues of design, construction, timing and financing ~~which can present obstacles~~ and must be drafted carefully.	+	Build-to-suit agreements can be highly complex, as they must encompass issues of design, construction, timing and financing and so they must be drafted carefully.

	= Further information =		= Further information =
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	* Ground rent.		* Ground rent.
	* Housebuilder.		* Housebuilder.
−	* Investment Property Databank (IPD).
−	* Land acquisition.
−	* Land value.
	* Landlord and Tenant Act.		* Landlord and Tenant Act.
	* Lease Negotiations - Tenants Checklist.		* Lease Negotiations - Tenants Checklist.
	* Leasehold.		* Leasehold.
−	* Penal contractual terms.
	* Property development finance.		* Property development finance.
−	* Residual valuation of land.
−	* Site selection and acquisition.
−	* Site surveys.
	* Speculative construction.		* Speculative construction.
−	* Statutory declaration excluding security of tenure	+	* Statutory declaration excluding security of tenure.
	* Vacant possession.		* Vacant possession.

	[[Category:Construction_management]] [[Category:Procurement]] [[Category:Design_and_build]]		[[Category:Construction_management]] [[Category:Procurement]] [[Category:Design_and_build]]

Editor at 17:53, 29 January 2019

2019-01-29T17:53:43Z

← Older revision		Revision as of 17:53, 29 January 2019
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	* Statutory declaration excluding security of tenure		* Statutory declaration excluding security of tenure
	* Vacant possession.		* Vacant possession.
		+
		+	[[Category:Construction_management]] [[Category:Procurement]] [[Category:Design_and_build]]

Editor: Created page with "Built-to-suit is a term from the property sector and describes a scenario where a developer (or building owner) provides a building that is built (or refurbished) to a tenant’s..."

2019-01-29T17:52:38Z

Created page with "Built-to-suit is a term from the property sector and describes a scenario where a developer (or building owner) provides a building that is built (or refurbished) to a tenant’s..."

New page

Built-to-suit is a term from the property sector and describes a scenario where a developer (or building owner) provides a building that is built (or refurbished) to a tenant’s exact specification. The developer finances the project and is responsible for its design, construction and completion. The developer will retain ownership for an agreed period once the land and the building(s) are leased to the tenant.

Built-to-suit properties can range from single units to multi-building facilities. Agreements are usually made between the developer and a single tenant, although more than one tenant may be involved.

According to Savvas Kotsopoulos of law firm Miller Thomson, the arrangement between developer and tenant essentially comprises two agreements:

<ol style="list-style-type: lower-roman;">
<li>A development or construction agreement, the result of a request for proposal (RFP) process, which defines the relationship between the landlord and tenant from the design through to the construction of the building, and</li></ol>

<ol style="list-style-type: lower-roman;">
<li>A lease agreement which stipulates the terms of the occupancy post-construction. In some cases, the provisions regarding the construction of the building are included in the lease itself or captured in an accompanying ‘work letter’.</li></ol>

The construction aspect of this arrangement is usually the key issue and the most complicated, warranting close attention to the landlord’s and the tenant’s responsibilities in this regard.

Build-to-suit agreements can be highly complex, given they must encompass issues of design, construction, timing and financing which can present obstacles and must be drafted carefully.

= Further information =

For more detailed information, see ‘Laying the Foundation for a Build-to-Suit Lease’, by Savvas Kotsopoulos of Miller Thomson. [https://www.millerthomson.com/en/publications/communiques-and-updates/leasing-times/december-3-2012/laying-the-foundation-for-a-build-to-suit/ https://www.millerthomson.com/en/publications/communiques-and-updates/leasing-times/december-3-2012/laying-the-foundation-for-a-build-to-suit/]

= Related articles on Designing Buildings Wiki =

* Break clauses in leases.
* Development appraisal.
* Feasibility studies for construction projects.
* Funding options.
* Funding prospectus.
* Ground rent.
* Housebuilder.
* Investment Property Databank (IPD).
* Land acquisition.
* Land value.
* Landlord and Tenant Act.
* Lease Negotiations - Tenants Checklist.
* Leasehold.
* Penal contractual terms.
* Property development finance.
* Residual valuation of land.
* Site selection and acquisition.
* Site surveys.
* Speculative construction.
* Statutory declaration excluding security of tenure
* Vacant possession.