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Strategic land —
Strategic land can be a risky area. No guarantees and potentially lots of expense. Your land may have development potential over the next 1-20 years and you may be looking to take advice on the chances of success and the routes that can allow the additional value to be generated.
There are several paths available to landowners and each has its own merits. We start by assessing the land and explaining the various options available.
Our Services —
Choosing the right partners here is essential to not only a successful journey but also a comfortable one.
Option agreements –
These tend to be entered into with a developer. They stand the planning costs and fees and take a calculated risk on planning for which they receive a reward. As ever, the devil is in the detail and it is important to ensure that you take advice from the start. Timescales, suitable price mechanisms, well phrased contractual definitions and controls over the developer that are tight enough to have some control yet allow the developer to proceed without being slowed down, are just a few of the things that need agreeing early.
Promotion agreements –
Similar to an option agreement in only a few areas, a promotion agreement results in the land being offered for sale once planning is granted. Costs are covered by the promoter and they receive a reward for the risk. Choice of the right promoter and testing the market with promoters is crucial. Terms can vary widely from firm to firm.
Self-funded approach –
You may wish to fund your own planning costs and this can often maximise the value. This can be well-suited to smaller properties and will often depend upon the amount of capital that a client has available to invest. We won’t carry out the planning work, instead we have partners with whom we work regularly and once granted we can market the site for sale ensure that value is maximised.