Sale or Purchase of Development Property
I'm Martin Levinson a partner with the firm and responsible for the commercial property department. Tilly Bailey & Irvine is experienced in all aspects of the sale and purchase of development property from a contract conditional upon planning permission being obtained to more complex agreements where the purchase price is dependant upon the permission granted. Our team has considerable experience in relation to the acquisition of small and large development sites for residential, retail and industrial usage. Contact us today to find out about the services we can offer you.
Sale of Development Property
Are you fortunate enough to own some land which is ripe for development? Do you want to ensure that you share in the uplift of the value of land should planning permission be granted for it in the future?
Are you unsure as to whether you should sell the land at its present value or sell it with the benefit of planning consent for development? Do you want the price you would get for selling the land with the benefit of a planning consent without the hassle of obtaining that consent yourself? Tilly Bailey & Irvine can advise you on the benefits of a conditional contract where the sale (and sometimes the price) is dependent upon the planning consent obtained by the purchaser.
If you are concerned about ensuring that you also get a share of the benefit of any future development, Tilly Bailey & Irvine can advise you in relation to overage or claw back provisions. Tilly Bailey & Irvine can prepare the relevant documentation to ensure that you receive a percentage of any future increase in the value of the land as a result of any planning consent granted within a defined period.
Tilly Bailey & Irvine is experienced in all aspects of the sale of development property from a contract conditional upon planning permission being obtained to more complex agreements where the purchase price is dependant upon the permission granted or arrangements where the purchaser will transfer land to the vendor in part payment.
We can help you by ensuring that you are given the best legal advice in relation to the form of sale contract, as sometimes options are considered as alternatives to conditional contracts.
Purchase of Development Property
Are you a developer looking at acquiring a new development site?
Tilly Bailey & Irvine has considerable experience in relation to the acquisition of small and large development sites for residential, retail and industrial usage.
We can offer expert advice in relation to entering into conditional contracts or being granted options to purchase as well as entering unconditional contracts to purchase land.
Tilly Bailey & Irvine will advise you from your initial acquisition of the land through to the grant of the relevant wayleave agreements to enable the services to be connected to the final sales or leases once the development has been completed
Recent client stories
Sale of 168 acres of development land
The property team were introduced to the owners of 168 acres of strategic development land on the outskirts of Durham City, now forming part of the land scheduled to accommodate residential, commercial and retail development. The nature of the 'sale' under a relatively new 'Promotion Agreement' proposal, was fraught with complexity, however the team were able to fine tune the legal document to successfully lead the vendors to a point of overwhelming agreement that the deal was 'just right'.