Case study
George Graves, a hotelkeeper with about five years' experience of running a 10-bedroom hotel, decides to buy a larger hotel with about 30 bedrooms. The larger hotel is well established with a regular trade and appears to meet his requirements.
The hotel has two lifts installed that are about 15 years old, but Graves has no experience of owning a hotel with the requirement to have a lift.
Before he signs up to buy the hotel, he discovers there are legal obligations when owning a building with a lift.
What considerations should he be giving to the lift installations?
How does he know if he is going to incur a large capital cost for the lifts in the near future?