Alder King was initially appointed by a private landowner to negotiate the exercise of an option agreement with Hallam Land.
After a period of negotiation it was determined that the most appropriate manner of determining the option price would be to undertake an open marketing of the site, converting the agreement to a promotion whilst combining a neighbouring parcel of land, also controlled by Hallam Land.
The 14 acre site was offered to the market with the benefit of an outline planning consent for 170 residential unites, including 30% affordable housing.
Following a competitive tender process to a pre-selected list of parties known to be actively seeking development opportunities in the location of a similar size, Alder King selected and agreed terms for the sale of the site to Curo Enterprises.
The transaction took less than 10 weeks to reach completion, from the date of reaching agreed Heads of Terms and resulted in the land price equating to £1.5 million per acre.