Project summary
- To interview a shortlist of bidders and seek to improve their offers.
- To advise the landowners and land promoter on the selection of a preferred bidder.
- To negotiate Heads of Terms for the sale and purchase agreement.
- To assist in legal progression through to completion of the sale.
Solution
- A targeted marketing campaign focussed on parties actively seeking such opportunities, informed by our extensive market knowledge.
- Shortlist interviews to include an agenda that covers issues affecting land values, with a view to encouraging parties to increase their offer and remove any conditions of purchase.
- To use our extensive experience to negotiate detailed Heads of Terms that allow for a simple legal process.
- Keep the clients informed of progress throughout the instruction so that expectations of timings are managed.
Benefits
- Tender process resulted in 9 offers from credible purchasers.
- Interview process resulted in increased offers from 3 parties and reduced conditionality.
- Sale secured to a reputable plc housebuilder on very competitive terms.
