There is a whole industry of land promoters and strategic land companies whose business is to identify land that might be suitable for residential development at some point in the future.
These companies will look to get land owners to enter into a Promotion Agreement whereby the parties agree that the promoter will try to obtain planning permission at their cost for the proposed development and in return will receive a percentage of the eventual sale price when the land is sold to a developer/housebuilder.
With the Government focusing more and more on the country's housing shortage, developers and strategic land companies are on the lookout for land in areas where development is planned or there is future development potential.
Our commercial property solicitors are very experienced in acting for land owners whose land has been identified as having the potential for development at some point in the future and ensuring that they are protected from what are, usually, very sophisticated developers and strategic land companies.
We can work with the land owner’s own surveyors, or alternatively recommend an experienced surveyor, to ensure that the land owner achieves the best possible deal.