Land promotion is a collaboration between landowner and promotor or developer, with the joint aim of maximising the value of a piece of land.
As land promoters we are highly motivated to achieve the most valuable planning permission in the most efficient way possible.
We take on the task and associated risks of obtaining planning consent — which is invariably time-consuming and expensive, and the outcome uncertain. Depending on the scale of the proposed development, the costs incurred normally amount to tens and sometimes hundreds of thousands. This is due to the following costs and disbursements:
- Council Fees – e.g. one full application for 40 dwellings costs an admin fee of £18,480. Council’s pre-application fees vary from £1000-10,000.
- Planning Consultancy – professional fees for Chartered Town Planners
- Architect plans – professional fees
- Specialist Consultants – This would include reports for the following: Ecology, Trees, Archaeology, Flood Risk, Utilities etc.
Under a Promotion Agreement, we will fund the entire planning process, covering all of the costs set out above.
You pay no fees and we only take costs from the development gain above the current land value after the land is sold i.e. your existing land value is protected. The percentage of the uplift we typically agree is 20%.
If no permission is obtained after the agreed period e.g. 5 years, then the agreement simply ends with you having incurred no expense.