Carter Jonas was appointed to negotiate the terms of a Landowner (Collaboration) Agreement between our client and two other parties and to offer the whole site to the market with the benefit of an outline planning consent for up to 250 dwellings, secured via a promotion agreement. Winslow is an important strategic growth location in Buckinghamshire and is located on the route of the planned east–west rail line connecting Oxford with Cambridge.
The Collaboration Agreement made provision for the equalisation of the sale price and also secured rights of access to our client’s retained land (to facilitate additional planned development). On completion of the Agreement, Carter Jonas was jointly instructed to bring the opportunity to the market. An open market campaign was launched, targeting national housebuilders. Competitive offers were received via two rounds of bidding and evaluation. Bloor Homes was selected as the preferred purchaser, following which detailed contract negotiations took place resulting in a successful completion in January 2017.
The project involved:
- Development and transactional advice to secure equalisation of sale revenue with secured access rights to a future development phase.
- Agreeing and implementing a marketing strategy.
- Full evaluation and reporting to the client with recommendations.
- Working closely with the client, planning, technical and legal advisors, the land promoter and purchaser to address matters arising through the sale process including discussions with the highways authority and adjacent land owners.