Our Service

It is becoming increasingly common, as a result of the scarcity of traditional debt finance for development projects, to look to some form of joint venture arrangement to facilitate the development of residential property projects.

A joint venture can take a variety of forms but broadly involves any arrangement where two or more parties agree to co-operate and combine resources to carry out a development. Such a project is often a new enterprise, but a joint venture may also be aimed at enhancing the operation of an existing or complementary activity. A joint venture can also spread and dilute risk where the parties typically share the initial investment (including the contribution of finance and/or assets) and share any on-going liability of a project. Typically a property joint venture may involve one party which owns the property and another party or parties which has the finance or development experience required to bring the development to fruition.

The structure used to conduct the joint venture will usually take the form of a private company, a limited liability partnership (LLP), a partnership or simply a contractual agreement between the parties which is often called a collaboration agreement.

Inevitably, a joint venture involves a sacrifice of the control and flexibility which otherwise may have applied had a party undertaken a development project independently. The various forms of joint venture reflect different degrees of integration of the interests of the parties in the joint venture.

When planning the structure of a joint venture, there are a number of issues to be considered. These include for example, identifying the underlying objectives of the parties, the period of time during which it is intended the joint venture will operate, the extraction and pooling of profits, the resources that each party will commit, requirements for employees, decision making, and accounting considerations. The parties will also need to consider whether the structure chosen for the joint venture provides the best tax treatment for each of them as well as for the joint venture itself.

Contact Us

Our Approach

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.

Contact Us

Our Promise & Core Values

Our Promise

The Myerson Promise - Our Partners, team of lawyers and support staff commit to giving our clients more.

.
To always give you clear, jargon-free advice.
.
To be completely transparent about our fees from the outset.
.
Progress every matter in an efficient and timely matter.

Our Core Values

Our core values are at the centre of everything we do.

.
We are always professional but ensure that we are friendly and approachable.
.
We are determined and enthusiastic about supporting our clients and our people.
.
We willingly take responsibility and can be relied on to be commercial, effective and efficient.

Our Experience

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.

Contact Us

Our Promise & Core Values

Our Promise

The Myerson Promise - Our Partners, team of lawyers and support staff commit to giving our clients more.

.
To always give you clear, jargon-free advice.
.
To be completely transparent about our fees from the outset.
.
Progress every matter in an efficient and timely matter.

Our Core Values

Our core values are at the centre of everything we do.

.
We are always professional but ensure that we are friendly and approachable.
.
We are determined and enthusiastic about supporting our clients and our people.
.
We willingly take responsibility and can be relied on to be commercial, effective and efficient.

Meet Our Specialists

Home-grown or recruited from national, regional or City firms. Our specialists are experts in their fields and respected by their peers.

Richard Lloyd

Richard Lloyd

Richard is a Partner and Head of our Commercial Property department

Joanne Perritt

Joanne Perritt

Joanne is a Partner in our Commercial Property department

Jeremy Lee

Jeremy Lee

Jeremy is a Partner in our Commercial Property department

Andrew Chapman

Andrew Chapman

Andrew is a Partner in our Commercial Property department

Mark Gillies

Mark Gillies

Mark is a Partner in our Commercial Property department

Dee Dewhurst

Dee Dewhurst

Dee is a Senior Solicitor in our Commercial Property department

Testimonials

Contact Us

Book your consultation using the below enquiry form, alternatively, you can call us on

0161-941-4000

Related Services