Project summary
- Fisher German were instructed on behalf of Harborough District Council to dispose of a 5.31-acre site with detailed planning permission for 72 dwellings.
- To show best value the Local Authority client instructed Fisher German to carry out an open market exercise.
- Fisher German provided advice on the marketing and negotiation of the sale contract to a contractor for a registered provider.
Solution
- Fisher German marketed the property on Rightmove, LinkedIn, and to a list of known developers
- The team managed the marketing process and responded to enquiries promptly.
- 33 offers were received from the site. A record for a development site being sold by Fisher German
- Fisher German reported offers to the client and created a detailed offer summary report which was presented at a cabinet meeting
- The sale price exceeded the guide price and the vendor's expectations
Benefits
- A sale was achieved for the vendor in less than a year from the start of marketing
- The site was sold to a contractor for a registered provider and therefore would provide a social benefit to the local community.
- Significantly enhanced the funding available to the Local Authority
- Significantly increased the amount of affordable housing in the local area
