Identification of a suitable promotion partner, negotiation of a Promotion Agreement and the subsequent sale of the site with Outline Planning Permission for up to 55 dwellings.
We were instructed by a private landowner to secure a Promotion Partner to bring forward the site for residential development. Once the site received Outline Planning Permission, we marketed and sold the site.
Proposals were invited from reputable and well funded land promoters/housebuilders. Once a promotion partner was selected by the landowners, we negotiated heads of terms and provided input on the commercial terms of the legal agreement with the chosen promoter.
We monitored the promoter for the duration of the promotion period to ensure that they were fulfilling their obligations under the promotion agreement and were pursuing a commercially attractive planning permission.
Planning consent was subsequently granted for up to 55 dwellings, which maximised the value of the property.
Following the grant of Outline Planning Permission, we undertook a detailed marketing and sales process, hosted Sales & Technical Pack review meetings and received several proposals from a range of regional and plc housebuilders.
We negotiated the best possible deal, agreed heads of terms with the chosen housebuilder and provided commercial input into the negotiation of the sale contract and transfer.
The site sold unconditionally for in excess of £4m.