The “Business Premises Renovation Allowance” (BPRA) tax relief scheme, which was due to expire in 2012 but subsequently extended until 2017, remains a popular development incentive.
Fladgate LLP has advised on four transactions in quick succession that are intended to benefit from the availability of this relief.
The transactions included the developments of a Premier Inn situated in Wigan, by Harrogate Street LLP and a Hampton by Hilton in Newcastle upon Tyne, by Baron House Developments LLP, both in association with Downing LLP.
The Fladgate BPRA team is led by corporate partner Julian Lewis with assistance from corporate partner Amy Collins, finance and regulatory partner Charles Proctor, real estate finance partner Gary Smith and real estate partner Matthew Williams, corporate senior associate Edward Morgan and construction solicitor Susanna Weatherstone. In total over 30 fee earners contributed to the successful completion of these transactions.