Development.
The directors at Premcor have a track record of taking successful and carefully considered strategic views on the suitability of properties to meet planning guidance and regulation. Planning is the key part of the development process through which Premcor seeks to achieve viable, deliverable consents within realistic timescales. We take particular care to avoid promoting schemes which are in direct opposition to Local Plan or national framework guidance. Development in any part of the UK is an increasingly sensitive issue, we are acutely aware of the need for full and genuine community engagement at all levels and by bringing this into the process we believe most schemes can benefit, provided a balance between everyone’s respective needs can be struck.
Premcor has the experience to undertake ground up developments, speculative and pre let developments across all property sectors developed with the intention of creating tradable property investments. Developments involve construction led project management at an early stage of any project to ensure that buildability and viability is designed into the scheme from the outset. When circumstances are appropriate it is generally our preference to be able to seek early contractor involvement with a view to partnering with established contractors rather than follow a formal tender process.
Construction costs have escalated substantially in recent years and are likely to continue on an upwards trajectory. This can create viability issues for the comprehensive redevelopment of existing buildings. Recycling commercial properties to add value through improving efficiencies, specification and extension can produce quicker and equally effective returns particularly in established urban markets. This is an area we have experience in recognising changing trends for example in the London office market where old institutional standards for floor to ceiling heights, floor voids etc are having less impact on rental differentials between buildings and substantial repositioning of a building can achieve the best results.
