Real-estate law watch: electricity substations — points to consider
A prospective buyer/tenant of a new development will expect the property to have electricity. It is therefore important that a developer considers at the outset how and where electricity will be supplied and, depending on the energy requirements of the new development, whether a substation is required to service the property.
In this update, Stephenson Harwood highlights a number of issues that a developer should be aware of when a substation is required. Should you grant the electricity provider a freehold or leasehold interest in the substation? What rights will the electricity provider need? What happens when third parties are involved? And is the interest granted permanent? …
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