LAND PROMOTION

Specialists in enabling landowners to realise the optimum development value of their land

Mark Ferguson, following 22 years of professional experience specialises in enabling landowners to realise the optimum development value of their land.  This we can assist with in one of two ways:

i) Mark Ferguson has personally, and with various partners, over the years promoted sites on land owner’s behalf using his/their personal resources, or

ii) Finding promoters of larger more complicated sites, and obtaining the best terms between the parties.

A land promoters role is twofold; to promote the land through the planning system and then to manage the sale of the land with the benefit of planning permission through a competitive marketing process. A land promoter carries the risk of paying all associated costs throughout the promotion and planning application process for the duration of the exercise.

The promoter’s investment, risk and successes are rewarded by a ‘success fee’. The terms and quantum of the success fee are agreed at the outset of a relationship between the promoter and the landowner. When terms are agreed, they are recorded in a written agreement approved by both parties’ solicitors. The agreement sets out the promoter’s obligations to promote the land; this is called a Promotion Agreement and is produced at the promoter’s cost. This agreement will also confirm a fixed period of time to pursue a planning consent. When planning consent is granted the land is sold on the open market to achieve the maximum value.

The benefit of a Promotion Agreements compared with an Option to purchase is that both the promoter and the landowner have the same objectives – maximising the value of the land. A Promotion Agreement is a transparent process and is far more likely to achieve a higher sale value than an Option to purchase agreement would, where a developer has the right to purchase land at discounted market valuation, which does not enable the landowner to benefit from exceptional bids as frequently occur in open market sales.

We are always interested in discussing any potential planning and development opportunities that you may have, with prompt responses and honest opinions as to the circumstances and chances of success given.