Acting for a major London commercial property developer in its first foray into residential development. The scheme involved a complex site assembly, the surrender of occupational leases and the creation of a joint venture, bank and secondary lending. We also handled the letting of the main construction contract and associated construction documentation, the pre-sale of an apartment block to a housing association and the sale of the remaining units.
Acting for a local authority on the sale of a leisure centre site for future mixed-use development (including overage arrangements) and in relation to the relocation and reprovision of the leisure centre. The base consideration was in excess of £30 million.
Acting for a commercial property client in relation to a joint venture with a major housebuilder which involved the acquisition of 215 units of housing stock. The transaction involved the formation of a limited liability partnership, the negotiation of complex financing documentation and a major due diligence exercise.
Acting for a commercial business in the redevelopment of its premises to create a town centre retail park, including the construction and disposal of the retail units.
Acting for a developer collaboration in connection with the acquisition and simultaneous part sub-sale of a prospective development site to facilitate a park and ride facility, motorway junction extension works, residential, care home and out of town retail and office development. The transaction involved landowner and inter-collaboration overage, profit equalisation and profit share, promotion and development obligations and collateral land security.
Restructuring and variation of six waste management company leases, surrender of another and various licences to enable a major plastics plant development
Acted for a consortium of approximately 15 landowners who have investigated the possible development of some 2,000 plus homes in Sussex. This involved bringing together disparate land interests with a variety of different tax considerations affecting different owners. As the total costs of the development and the values obtained would not be known for many years, the process involved running infrastructure and land accounts to enable costs and values to be adjusted through time. We also negotiated a promotion agreement with the proposed developer.
Acted for a land promotion company in negotiating promotion agreements with two landowners who had agreed terms with a third land owner (a government department) for a collaboration agreement to promote their combined landholding of approximately 140 hectares for predominantly residential development. Advice included review of and input into the collaboration agreement, negotiating promotion agreements with the landowners under which our client would become their representative on the collaboration committee to be set up under the collaboration agreement and security for the reimbursement of expenditure and payment of profit share. The planning gain package could deliver a bypass on a major arterial route and will deliver the range of schools, provision, district centre, SANGs and the complete suite of public realm.
Acted for the owner of a private residence with substantial grounds in conjunction with his immediate neighbour in connection with the proposed sale of their respective lands to a national house builder for residential development. In addition to negotiating the conditional contract with the developer, we drafted a landowners’ agreement providing for the equitable distribution of the sales proceeds and the monitoring, compliance and enforcement of the developer’s obligations.
Acted for a charity in the potential disposal of its land in Sussex to a national housebuilder. The transaction is structured as a promotion agreement and has required us to advise on a number of third party interests that may impinge on the successful promotion.