Strategic Land
Strategic Land is a plot or parcel of land that can't be developed immediately but could be developed in the future. Development viability is based on its location, proximity to developed areas, or if it's part of a key access route. These factors present an opportunity in the short, medium and long term to achieve planning permission for development of the site. Our Development Team specialise in identifying Strategic land throughout the South West, working closely with landowners, housebuilders, national builders and planners to promote and deliver residential and commercial initiatives for strategic land.
Successfully promoting development sites relies on many things some of which are, identification and assessment of strategic opportunities, good timing, a strong knowledge of planning in local areas, a large database of potential Developers and Investors and excellent communication and understanding between all parties. Cooper and Tanner has experience in advising landowners directly on the promotion of development sites. We can also identify suitable development partners who would bear the costs of promotion and work in collaboration with us and our landowning clients. This can be achieved through options, promotion agreements or joint ventures, depending on the particular requirements of the client and the project. Our Team can also provide valuations and advice on both residential and commercial development.
We are experienced with:
• Identification of development potential
• Strategic planning and development advice
• Development/promotion partner selection
• Landowner collaboration and equalisation agreements
• Land assembly
• Options and other forms of promotional agreements
• Land sales
What is an Option Agreement?
Under an Option Agreement, the landowner typically gives a developer the right to buy the land, either at a fixed price or by reference to a formula (such as a percentage of market value). The developer will usually take on various obligations (such as to pursue planning permission) and may pay an option fee.
What is a Promotion Agreement?
A Promotion agreement may contain similar obligations (such as to pursue planning permission) but does not give the promoter the right to buy the land. Instead, the promoter would be entitled to a percentage of the sale proceeds as and when the land is sold.
What is a Joint Venture (JV)
A joint venture is a contractual business undertaking between two or more parties. It is similar to a business partnership, with one key difference: a partnership generally involves an ongoing, long-term business relationship, whereas a joint venture is based on a single business transaction. Individuals or companies choose to enter joint ventures in order to share strengths, minimize risks, and increase competitive advantages in the marketplace. Joint ventures can be distinct business units (a new business entity may be created for the joint venture) or collaborations between businesses. In a collaboration, for example, a high-technology firm may contract with a manufacturer to bring its idea for a product to market; the former provides the know-how, the latter the means.