OUR APPROACH
After meeting with landowners we initially agree Heads of Terms for a promotion agreement. Once entered into this enables us to frame the brief and to instruct specialist consultants to prepare the necessary technical submissions and together we undertake careful lobbying in support of our partners land. Clearly this is very important to the creation of value in the site and to demonstrate that the site is deliverable and able to compete with any rival sites.
We undertake this work at our cost and risk together with the subsequent submission of the application and Local Plan representations.
There is often a long and uncertain way to go before planning permission can be obtained, however the price that the market is willing to pay for development land increases significantly the more that the risks involved have been eliminated which is what we achieve.
In simple terms, selling land close to (or preferably after) the grant of permission will give our landowner partners the largest commercial reward.
Whilst we prefer to negotiate permission with Local Authorities this is not always possible. We may decide to take the appeal route, if this is the case we will fund an appeal even to the appointment of Senior Legal Counsel to present our case if this is necessary.
We never look to purchase the land that we promote but to sell it to the highest bidder after we have obtained the permission. We agree a marketing strategy with our partners including when and who is invited to tender.
We fund the detailed tender pack, this will set out the marketing particulars for the site and bids will be invited from interested parties, typically medium to large house builders. This ensures that this critical stage is entirely transparent to our partners.
We are confident from our experience gained over many years that this will give our landowner partners a far higher sum than could be obtained via other forms of agreement and provides them with the confidence that the very best value has been achieved. This is particularly important to our partners and ensures that we stay on the same side at all times which is important to us.
We make our return on a percentage of the land value our investment, risk and expertise achieves.