Project summary
- Advised a consortium of landowners within a Land Pool Trust on the disposal of land with planning permission for up o 1,370 dwellings, local centre and primary school
- Advised on the appropriate marketing strategy in an uncertain housing building market, focussing on sale in phases or sale as a whole
- Sale of the whole site within set timeframes, to a PLC housebuilder, maximising sale receipts for the consortium of landowners and land promoter
Solution
- Created a bespoke, dual approach, towards marketing, constructed a sale data room
- Implemented an informal tender allowing an interview process to critique and contrast various proposals and generate competition to maximise value, before settling on a preferred bidder
- Advised clients and subsequently challenged developers on abnormal and infrastructure cost assumptions to enhance value and mitigate risk
Benefits
- Negotiated a substantial increase between initial bids to best and final offers
- Maintained a favourable access position for landowners on their retained land, whilst also not restricting future development
- Ultimately secured what was a landmark sale and one of the largest greenfield residential development within the Midlands during the calendar year
