A significant proportion of Interurban’s time is spent defining areas of search and seeking off market development opportunities where value can be added via the planning system. Following the identification of sites a direct approach is made to the owners.
When an owner is interested in enhancing the land value of the site Interurban will undertake a development appraisal to ascertain if value can be added to the site using specialist planning expertise.
ADDING PLANNING VALUE
Interurban utilises in house planning and surveying knowledge to add value through the planning system. The aim is to manage planning risk and achieve the optimum site design to increase the land value thus maximising the return on the sale of the site when planning permission is achieved.
Depending on site constraints specialist consultants may feed into the planning workflow to ensure development risk is managed and value is added. The workflow is tailored to suit every site and is based on our initial desktop analysis and discussion with the landowner.
Interurban understands that some landowners may require confidentiality before entering discussions and Non-Disclosure Agreements (NDAs) can be entered into if required.
PLANNING AND LAND PROMOTION SERVICES
· Fixed Fee Promotion
Typically utilised where the landowner is seeking to retain the land for future disposal or where they are considering developing the site themselves. Interurban’s estimate of the time and other costs, risk, and potential financial gain involved in pursuing the planning permission and obtaining an uplift in the land value will determine the fixed fee based on a successful grant of planning permission.
· Land Promotion Agreement
Typically works on a profit share based on the final sale price, the percentage of the profit share is commensurate with the associated up-front planning risks and costs of obtaining the permission. This arrangement may include servicing the plots to increase the marketability of the site.
· Outright Land Acquisition
Purchase price agreed for quick land disposal.
· Conditional Contracts
Contract conditional upon planning. Contract entered into with landowner as a means of securing an interest in land which may have development potential but without an obligation to buy the land unless the planning condition in the contract is satisfied.
· Option Agreement
Is a right that the landowner grants to enable acquisition of a given site within a specified period of time at a pre-agreed value. Interurban will normally apply for planning permission, at their own expense, if planning permission is granted by the Local Planning Authority, the landowner is contractually bound to sell at the pre-agreed value within the option period.