Real Estate Development

An unconditional contract commits the parties to completing the transaction without conditions needing to be met first. A conditional contract, on the other hand, makes the transaction dependent on certain agreed conditions being satisfied.

The most appropriate arrangement will depend on the circumstances of the proposed development and the terms agreed between the parties.

An option agreement can give a prospective purchaser the right to acquire land at a future date, subject to the terms of the agreement.

Option agreements are often used where a developer wants to secure an interest in land while allowing time for certain matters relating to the proposed development to be progressed.

It is often beneficial to seek legal advice at the earliest stages of a development project, particularly when negotiating the acquisition of land or entering into agreements with a landowner.

Involving a solicitor early can help ensure the legal arrangements surrounding the development reflect your plans and objectives before you become committed to a transaction.

An overage agreement can allow a landowner to receive an additional payment if the value of the land increases in the future or if a particular event occurs, depending on the terms agreed.

These arrangements are often relevant when land is being sold for development and can be an important consideration for both landowners and developers.

A promotion agreement is an arrangement between a landowner and a promoter to work towards bringing land forward for development.

The agreement will set out how the parties will work together and how matters relating to the future sale of the land will be dealt with. Our Real Estate Development team can advise on the legal arrangements involved and help protect your interests.

There may be different ways of bringing land forward for development, depending on your circumstances and the arrangements you wish to make with a developer.

Our team can advise landowners on agreements including promotion agreements, option agreements, overage arrangements and joint venture agreements, helping you understand the legal implications of the proposed transaction.