landowners

Richborough appreciates that your land could be the key to your future. It may be part of a current or former business that now needs to relocate or even a parcel of greenfield land that has been part of your family estate for generations.

Whatever your current situation or future ambition, Richborough works on your behalf to promote the land for your maximum gain.  We carefully manage each and every aspect of the development process, for example, liaising with the Local Authority, lawyers and consultants to deliver the most appropriate consent - through to finally promoting the site to potential buyers.

Over the past ten to fifteen years this process has become increasingly cash intensive with Local Authorities requiring vast amounts of information for each planning application, whether it’s an outline or full application.

Below are some of the general commercial arrangements Richborough can offer:

option agreement

Together we create an agreement that allows Richborough Estates to buy your land on the condition that we successfully secure a planning permission. Therefore, you retain ownership until we have secured a suitable consent. Arrangements for VAT, Stamp Duty and Land Tax are considered. We carefully steer your land through the planning system, working very closely with Local Authority professionals to deliver the most appropriate consent. Promotion fees are expended by Richborough and we purchase the site when a planning permission has been granted.

promotion agreement

This type of agreement is very similar to the Option Agreement, but we don’t purchase the site but rather take an agreed percentage of the eventual sale proceeds. The eventual land sale and purchase arrangements are made between the landowner and the eventual purchaser, although Richborough ensures that the legal terms have been agreed, in principle, before your lawyers conclude the contract. This commercial arrangement is advantageous for those landowners who wish that their land is subject to a competitive tender once planning permission is secured.

purchase agreement

An outright purchase agreement is possible for landowners who are seeking a relatively quick return from their land. This commercial arrangement is the most simple, but calculating the land’s value can be a little more complicated. It is not uncommon for the purchaser to seek a premium for the land over and above the existing use value. This is sometimes referred to as ‘hope’ value i.e. the purchaser is hoping to add value to the site through a planning permission. Often this hope value is payable via an ‘overage’ clause and payable when the permission has been granted or when the site is sold to a third-party developer.

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