Close cookie policy popup window
This site uses cookies for analysis purposes only. This helps us understand how you and other visitors use our site. To see a complete list of these cookies or to opt out please access our cookie policy page.

You will see this message only once, but you will be able to find more information about our use of cookies or opt out at any time.
Case Study | Planning & Development 2 | Option Agreement

Case Study - Planning & Development 2 - Option Agreement

Published on Friday, 01 June 2007

Ref: EJ/01/6’07         Andrew Wright – Partner Kirkby & Diamond

Objective
The clients were interested in disposing of their property and had been approached by a developer with a view to granting an Option Agreement. The main aim of the clients was to maximize the value of their property.
 
Strategy
To overview the planning potential of the site to assess the value of the site and the risks associated with the Option Agreement.
 
Implementation
An informal enquiry was conducted with the planning department at Milton Keynes Council. The potential of the site was identified as considerable. In light of the information the Option Agreement was assessed, as were the alternatives available to the client. With guidance from K&D the clients decided to apply for outline planning permission themselves for the redevelopment of the site. Permission was achieved and the site was brought to the market.
 
The Result

Kirkby & Diamond provided the clients with expert advice in all elements of the process. This included valuation, planning and development and ultimately agency. This enabled the clients to build up a good working relationship with one individual who was able to guide them through the entire process rather than employing various specialists over the working period. In addition with K&D’s extensive contact with developers we were able to effectively advertise the property to the correct market to achieve the desired interest.
 
From the initial involvement of K&D to the ultimate sale of the site took exactly 12 months. During this period the clients achieved a significantly higher value for the site than initially offered by the developer.