Project summary
- Sale of consented residential development site for 70 dwellings to Miller Homes.
- A promotion agreement was signed with Richborough Estate in May 2021. Planning was secured for 70 dwellings and the land sold to Miller Homes within 12 months.
Solution
- Fisher German advised our client on the correct promotion partner to be chosen for the site, and therefore Richborough were chosen due to their excellent track record and experience.
- Once planning permission was achieved we implemented a robust disposal strategy and a sale was achieved within 8 weeks of acceptance of the offer from Miller Homes.
- Competitive tension was created through the disposal strategy to ensure maximised commercial terms were achieved in a short timescale.
Benefits
- Provision of private and affordable dwellings including over two acres of public open space.
- The landowner received their sales proceeds within 12 months of signing the promotion agreement.
- Richborough Estates held a public consultation and their application mirrored the responses received and was in accordance with the emerging neighbourhood plan.
