CB Richard Ellis has announced that it has recently completed capital allowances claims for Rockspring TransEuropean Property Limited Partnership IV, a fund managed by Rockspring Property Investment Managers LLP, identifying an additional £2.2 million (approx. €2.27 mln.) worth of allowances for their acquisition of building assets within The Identity Portfolio.
Through interpretation of recent changes in legislation, which include the introduction of 'Integral Features' allowances, CBRE was able to identify additional savings opportunities, as well as reallocate expenditure formerly treated as Industrial Buildings Allowances, providing additional tax relief for Rockspring TransEuropean Property Limited Partnership IV.
Graham Burrell, Director, Capital Allowances, CBRE, commented, "The introduction of 'Integral Features' allowances from 1 April 2008 has widened the scope for substantial tax savings within buildings and enables purchasers of commercial property to make additional plant and machinery allowances claims. It is important for clients to be aware of these additional allowances, as in the current climate they can amount to as much as 5% of the purchase price paid for a property."
This deal follows the CBRE Capital Allowances team's recent success for client HansaInvest on their acquisition of The Office Depot in Leicester, where they were able to increase the claim value by an additional £2.3 mln. to £7.2 mln.