In summary the process is:-
- A developer approaches a landowner or a landowner approaches a developer to ascertain if they are interested in promoting their land for development.
- The developer offers terms to enter a development agreement.
- The best terms are negotiated and then solicitors are instructed to progress the legal documentation.
- The development agreement is entered and the land is promoted. A planning application will be submitted to the Local Planning Authority.
- Once a planning permission is granted the land is sold to a developer for substantial sums of money.
The costs of promoting land and submitting a planning application for development are substantial hence the reason why many landowners partner with a developer. The developer promotes the land at their cost.
This process sounds simple but there are many pitfalls that a landowner can fall into without professional advice and guidance. Webb Developments is a specialist in strategic land and can guide you through the process in a logical way, ensuring that the development value of your land is maximised.