Where a Development company identifies a potential site/development opportunity they may consider entering into a Development Agreement e.g. Option Agreement, on a medium or longer term basis (normally 5 or 10 years) to secure the opportunity to develop the land. Hendersons will act as the Agent in these negotiations.
In such cases, the Developer could make an upfront 'deposit' payment to the Landowner, and thereafter will make periodic payments to retain the land 'under option'. The Developer would normally agree a purchase price at an agreed stage i.e. obtaining planning consent. A variety of Option Agreement terms can be negotiated to ensure the Landowner achieves the maximum benefit of this asset. In addition to advising on the most appropriate structure of a Development Agreement, we can advise on suitable terms which meet the needs of the Landowner in terms of the spread of financial commitment throughout the period and the timescales involved in the promotion of the site within the Development Plan process.
If you feel that you have something which has potential, Hendersons can provide a full service which includes the following:
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