Advice to all Developers when undergoing a Basement Development!
Basement Developments have become an increasingly popular way to add value or expand a property. A recent report found that planning applications for basements had risen by 183% since 2012. If it is done correctly, a very high quality basement conversion can add substantial value to a property, done incorrectly and there will be an opposite effect. Basement developments are very specialist and complex as they impact the stability of a building and adjoining properties.
There are three main points which developers should consider before undertaking a basement development;
- Obtaining Planning Permission;
Securing planning permission for the above can be very difficult to obtain, as a result many London boroughs now require engineering reports to be prepared in detail to support planning applications. Even where the reports are not required it is essential that developers commission an appropriately qualified structural engineer and architect early on.
2. Make sure the development is structurally safe;
It is very important that you undergo high quality planning before the development takes place as poor planning can interrupt such things as ground water and therefore will cause problems for the building itself. As a basement is constructed below ground, a thorough site investigation needs to be undertaken at a very early stage. This will ensure that any expensive costs or time consuming problems will indeed be avoided. Developers also need to ensure that the structure of any building over ground are not at any risk, as this will not only put the conversion at risk but also the whole of the property.
3. Be aware of the costs;
Basement developments are generally more expensive to design and construct, so it is very important that developers recognise this and factor this into their budget. Trying to undergo a basement development on the cheap is extremely likely to result in problems. In any development project most problems/costs etc are found in the ground, for example a site could be contaminated or unsuitable for development purposes. Therefore preparing the site can be one of the most expensive elements of any development project.
If you would like more information on the above, or if you would like to speak too us about a recent development project that you may have, then please speak to the team at Yorkshire Development Finance and we will be more than happy to assist.