Project summary
- The land is located on the edge of Derby which led to significant objection over the proposals
- It was not allocated in the adopted local plan and required careful management to get it allocated in the newly emerging draft local plan
- The costs of taking the site through the planning process was too much for the landowner so it was necessary to find a suitable promoter to share the risk
- To minimise capital gains, consideration was also given into structuring the land ownership and occupation in the best way
Solution
- After identifying a suitable land promoter, works began on getting the site promoted through the planning process. We oversaw the work by the promoter
- We worked with the owners and their professional advisors to minimise any possible CGT liabilities in the event of a future sale
- Our innovative approach ensured that the land was managed in the best possible way for a future development to ensure the land could be sold with vacant possession at any time
Benefits
- The site has recently been considered before the Court of Appeal and a decision on the planning permission is awaited. If reinstated, this will be sold for upto 400 houses. This will potentially realise a significant capital gain which could be reinvested into various projects which will help to underpin the rural estate and wider economy
