Commercial Property Warranty is frequently applicable in the circumstances where a residential element sits alongside a retail, office, warehouse or other business premises. More often than not the commercial unit is at ground level with the apartments above. There will be facilities, access areas and shared maintenance agreements held in common by the landlords for the whole property. For the purpose of the policy the phrase ‘Commercial Property’ is the building or ensemble described in the Pre-Completion and Post-Completion Certificates and will comprise: The Structure, All non-load bearing elements, fixtures& fittings (for which you are responsible), All Common Parts, The drainage system within the perimeter of the building and any ancillary permanent building. Presently we can provide this service on commercial property up to £10 million Rebuild Value.
Medium to large developments may require a ‘Road Bond’. A Planning Approval for a development will frequently include an obligation for the developer to provide his guarantee that the access road(s) to the new site will be constructed to a prescribed standard. The developer will also be asked to guarantee the completion of the access in the event of the insolvency of the builder/developer. We can help you to obtain such a Road Bond.