For a variety of reasons, it may be prudent to promote a potential development site in conjunction with one or more neighbouring landowners. This can raise a variety of issues, ranging from access arrangements and calculating existing property values, to agreeing equalisation formulas. However, the benefits can be significant in terms of delivering a larger more viable scheme which is more attractive to the planning authority and unlocking previously undevelopable land.
Our team have extensive experience in approaching landowners and consortiums to negotiate the terms of a Joint Venture agreement. These agreements can be beneficial to all parties, and are the key to unlocking the potential of your site. The ever changing planning landscape means that we are often retained by our clients to negotiate the inclusion of additional land within agreements, this requires careful consideration to ensure we are not diluting the potential of the existing land.
As part of our services at Batcheller Monkhouse, we act on behalf of the landowners to select suitable promotion firms and then handle the sale of the site with the benefit of planning. Throughout the process our team will always act with integrity in providing professional, independent advice.
The team at Batcheller Monkhouse worked closely with three sets of landowners and a land promoter to bring forward a 103-unit scheme in Crowborough, East Sussex. Whilst there were a number of obstacles to overcome during the planning and marketing stages there was considerable benefit to all parties to bringing forward a joint scheme. These included securing a quantum of development on the site that would be attractive to the planning authority as well as sharing the risk and cost of securing a planning application. In order to ensure that all parties interests were protected Batcheller Monkhouse agreed the terms for not only a Promotion Agreement but also a Collaboration agreement.