We work collaboratively with landowners, using our expertise and capital to achieve planning consent for development, which provides an increase in land value and inward investment into the area. The process is known as land promotion, which allows landowners to benefit from the uplift in value of the land due to planning consent, without the expenditure of time and money as it is fully resourced and funded by ourselves. The process is simply explained below.
- We carry out an initial feasibility study to assess the planning potential of the land.
- If acceptable, we will meet up with the landowner and discuss the process in detail, and if acceptable, we both sign the promotion agreement.
- Our project team will identify the optimum planning approach for the site, ensuring early engagement with the Local Planning Authority.
- All necessary reports, scheme designs and submission documents are prepared and collated, then submitted to the Planning Authority.
- If the planning is successful, we either proceed with direct purchase of the land or instruct agents to sell the land on the open market. If planning is unsuccessful, we continue to the formal planning appeal stage.
- Once the land is purchased by ourselves or external purchaser, the funds are released to the Landowner. We take a fee at this stage to cover our costs of the Planning process and a percentage of the uplift in value of the land, which is agreed as part of the promotion agreement.
- Where we agree to buy the land, we develop the properties and generally retain them with our Property Portfolio, which are then rented on the open market.