In South Eastern England there was a 50 acre block of residential development land. This had been sold subject on an option to developers, brokered by an agency.
The developers obtained detailed planning consent and exercised their option. The agent was instructed to proceed for the owners but the solicitors were becoming increasingly worried that the agent was not doing the best job in negotiating the deal in the client’s best interests or in a timely fashion.
The solicitors were unhappy with this and called in Woolley to do a similar job to that which we do for our investment clients, by overseeing the surveyor in question and ensuring best performance. Woolley’s fees were about £50,000, but they gained the client in the region of £2,000,000.