The acquisition and site assembly of development sites is often the most difficult element of residential development.
Straightforward purchases may be appropriate if the site already has a suitable planning consent for development, or property is being acquired as part of a longer-term land banking arrangement.
Perhaps the most common way of proceeding is via a purchase contract conditional upon the purchaser obtaining suitable planning consent. The developer will want to ensure that it has contractual certainty about being able to purchase the property if it obtains a suitable planning consent. We will work with the developer to deal with the question of what comprises an acceptable planning consent and ensure that they will only be obliged to proceed with the purchase once the judicial review challenge period has expired.
Options can be a very useful tool to control the acquisition of land. Option is just that, they give a purchaser an option as to whether they want to buy the property. It can be used to be able to give certainty about the purchase of the land and to allow various other elements to be brought into line before exercising the option and being contractually bound to purchase the land.
Sites, where there is disparate ownership, can present developers with great difficulties in assembling control of the site without landowners extracting excessive value. We can assist by using a combination of straight purchases; contracts which are conditional upon achieving planning consent; and option agreements. Coupled with the use of non-disclosure agreements we can help with the assembly of a site without alerting the other landowners as to your plans.