Project summary
- A charity and private landowner owned 55 acre site near Chesterfield, part of which was draft allocated in the emerging Local Plan
- Neither landowner had the funds or appetite to self promote the property so a strategic partner was sought
- Fisher German advised on the marketing and negotiation of a promotion agreement and collaboration between the two landowners, and the sale of the consented site.
Solution
- A Promoter was appointed to progress the promotion of the property under a promotion agreement
- The Promoter enhanced the allocation to include the full site and achieved planning permission for 400 dwellings.
- Working with the Landowners and Promoters Fisher German advised on the marketing of the site, pursuing a flexible marketing strategy to offer the site as a whole or in phases
- The site was sold as a whole to Barratt Homes with no discount for quantum, to be duel branded as a Barratt and David Wilson Homes scheme.
- Sale value exceeded the guide price
Benefits
- Outline Planning Permission achieved by Promoter for enhanced scheme within 3 years
- The sale of the site as a whole simplified the sale process and provided a quicker (yet not reduced) return to the landowners
- Significantly enhanced funding available to the charity
- Site will boost housing availability in the area
