| NEGOTIATION OF CONDITIONAL CONTRACTS,
OPTION AND PRE-EMPTION AGREEMENTS
There are occasions when the property owner elects not
to pursue a planning application or appeal, or development work, himself preferring,
instead, to pass over responsibility to a prospective purchaser. This may occur when:
- the owners resources are limited
- the specialist involvement of a named
developer is likely to enhance the prospects of obtaining a planning permission
In those circumstances we are
experienced in negotiating arrangements whereby, in return for a right to purchase the
property if successful, a developer or other prospective purchaser undertakes the
necessary planning work at his initial risk.
Such arrangements include:
- Conditional contracts, for example, subject to
obtaining planning permission, approval of reserved matters or full planning permission
for a particular layout or density of development.
- Option agreements where, perhaps, there is a
need to promote a site for development through an emerging development plan. This may be
for a period of 5 or more years and, clearly, needs to be carefully negotiated to protect
the interests of both parties.
- Pre-emption agreement where, for example, in
return for a right of first refusal, a prospective purchaser agrees to promote an area
adjoining one which he already owns/controls.
We have considerable experience of
negotiating such agreements on behalf of landowners and developers/prospective purchasers
and, consequently, are well aware of the provisions required to facilitate a workable and,
above all, fair agreement for both sides. We are also well versed in working together with
clients legal and other professional advisors in achieving such goals..