A detailed due diligence is required when purchasing a development site, and if tackled in early course can prevent any unnecessary delays in a transaction. The following are some key matters to consider:-
- Check the boundaries “on the ground” against the boundaries on the title map, as title will only be obtained to the area within the title map
- It is advisable to have a set of environmental checks carried out, to ensure the site is free from environmental contaminants
- Arrange for inspection of the planning register of the Local Authority, to ensure there are no acts on the register which could adversely affect the site such as road widening, CPOs, sterilization agreements
- Ensure that the site can be accessed directly from the public road, or that there are appropriate Rights of Way in place
- Check the availability of Services, and that such services do not traverse third party lands. If services do traverse third party lands further investigation is required and that appropriate easements are in place
- Check whether any third party lands benefit from services running through the site, as such services may need to be re-located
- Your architect should fully review the grant of planning permission, and compliance with the conditions thereof
- Your tax advisor should review the vat position
For more information on this topic, please contact Godfrey Hogan on godfrey@gibneyhogan.ie
The content of this article is provided for information purposes only and does not constitute legal or other advice.
