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Property Investment Management

development value

A landowner client owned land in southern England in two villages. Both sites had development potential and Woolley’s task was to drive the teams of consultants forward to secure planning consents. However, these were best going to be achieved in appropriate partnerships.

1) On the first site the planning negotiations had been protracted. The Council was going to remain uncooperative unless a joint master-planned application was submitted with a neighbouring, non-domiciled landowner. Woolley oversaw a team of consultants, including valuers, planners, architects, traffic engineers and solicitors. Eventually an equalisation agreement was achieved whereby the percentage area of each of the parties land would be measured and the net proceeds divided in the same proportion. Charges were registered on each party’s land. Once permission is obtained (now anticipated very shortly) the client will have an option to buy the other landowner out.

2) On the second site the client had a strong desire to maintain control over the quality of the development in a very sensitive location. Once again, Woolley managed a similar team of consultants to achieve planning consent. A joint venture agreement was then entered into with the successful tendering developer. This allowed the client to keep essential control of the detailed quality of the layout of the development, materials and its construction. It also enabled the client to share in the ultimate uplift in value at the point of sale, having agreed a carefully formulated percentage share of gross proceeds in the JV agreement.

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