Bob Hilder, Strategic Land Director of Land & Brand New Homes, explains the reasons behind pursuing development opportunities under Promotion Agreements:
“Under a Promotion Agreement the interests of Developer and Landowner are aligned. Progression of the negotiations is on a genuine ‘partnership’ basis, requiring trust in seeking to maximise land value at all stages up to the eventual sale between both parties, developer and landowner.
A Promotion Agreement allows for the joint marketing of a consented site to a competitive house-builder industry, hungry for immediately developable sites. On this basis, the interests of the landowner and promoter are wholly and mutually focussed on maximising sales’ proceeds, which is a critically important aspect of this form of offer. It invariably includes drawing up a planning and marketing strategy in full agreement with the landowner and retained representatives.”
If you are thinking of selling your land, and want a valuation, contact Bob Hilder 01903 692952 to discuss your options.
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