Birmingham lawyers aid important restoration projects
A TEAM of Birmingham-based lawyers have helped to bring some of the UK’s historic buildings back into use.
Specialists from DWF utilised their knowledge of business premises renovation allowances (BPRA), a tax relief in the form of enhanced capital allowances, to help progress the restoration of various projects.
The team has been involved in the £40m fundraising venture to bring Cardiff’s Coal Exchange back from disrepair and also played a major role in the success of a £15m investment to save The Old Shire Hall in Durham.
The deals swathe team advise on a number of areas including tax, real estate, banking, construction, corporate and hospitality practices. They were joined by advisors from the firm’s network of 11 UK offices.
Both Grade II listed buildings are now set to have their historic features restored and their heritage protected.
DWF partners Jon Stevens and Melanie Williams led the team.
Mr Stevens said: “We’re delighted that we are able to play our part in saving these historic buildings in the UK. The transactions were only feasible thanks to BPRA, without which the buildings could not be saved as the costs involved are too great.
“There are many historic buildings across the UK currently in a state of disrepair that could be renovated using this government incentive but the lack of legal advice available to owners and investors is preventing this from happening.”
