Promotion Agreements

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.

We understand that this is one area where one size certainly does not fit all, which is why we are able to guide you through the process with ease and without any extra complications.

With a team of 20 legal professionals dealing with residential development the Myerson residential development team is one of the largest in the North West. The breadth and depth of experience that the team brings is able to be fully utilised to ensure that clients achieve the best possible outcome to their proposed development project. The team is well used to dealing with very complex development matters, whether these relate to complex joint venture structures, overage issues, funding arrangements or residential unit sales.

We provide advice in clear terms tailored to your requirements to ensure that you achieve your desired outcomes with as little stress as possible.

Examples of our recent work include the following:

• The acquisition of a site in Salford for a development of over 600 residential properties including the site assembly from several different landowners, dealing with development funding and then managing the sale process to end purchasers. 
• Acting for land owners concerning a promotion agreement whereby their land was put through the planning process by the promoter and then sold on to a national housebuilder.
• Acting for landowners in relation to the sale of their land to a national housebuilder by way of a contract conditional upon planning. The contractual arrangements were complex and needed to protect and secure the landowner’s position over a period of several years, whilst the housebuilder gained planning consent.
• The acquisition of development land on behalf of developers upon which to build more than 1,000 houses and dealing with adjoining landowners to facilitate the access to and servicing of the wider development area.
• Acting for land owners in relation to the sale of land to a housebuilder and including overage provisions to enable the land owner to share in any value created from future development of the site.
• Acting for developers in relation to the purchase of an industrial site in Salford on a conditional upon planning basis and then the development and sale of 400 apartments.
• The purchase and development of a Manchester city centre residential development site on behalf of developers and the forward funding arrangements for the whole block with a PRS fund. 
• Acting for a developer in relation to the development of high value apartments in a prestigious Cheshire location, including securing the site by way of a contract conditional upon planning and then the sale of the completed apartments to individual owner occupiers.
• The sale of a substantial freehold reversion portfolio to a specialist ground rent fund.
• Agreeing the joint venture arrangements between landowner and developer concerning the development of a substantial residential scheme on a Greater Manchester site.