Wilson Fearnall’s client was approached by a developer interested in around eight acres of potential development land, on the edge of a village. After initial evaluation further land was added to the proposal to overcome access issues and provide a larger area for public open space. Wilson Fearnall reviewed the initial option proposal and revised this into a ‘promotion agreement’ whereby the final development must be offered for sale on the open market by the parties if planning is successful.
Wilson Fearnall has been working with the landowner and their tax advisors to restructure their ownership and farming practises to ensure the most tax effective position should consent be granted and the land sold.
The development received planning officers recommendation for approval, but was subsequently voted down by the planning committee. The ‘promoter’ is hopeful of a successful appeal outcome shortly.