Alder King has acted for a group of private landowners over a period of 25 years to maximise the development potential and, ultimately, the value of their land.
Initially the land was identified and promoted as being suitable for a major food superstore development. On behalf of the landowners, we secured a developer partner to prosecute a difficult but ultimately successful planning application on part of the site, thereby mitigating cost and risk for the landowners. After a market competitive exercise to maximise value of the consented scheme, it was sold to Asda in a multi-million pound transaction.
Coupled with a different developer partner, especially selected following a competitive process, we promoted the residual 50 acres of the site for residential development and secured outline planning permission for up to 550 homes and resolved technical infrastructure issues. With the benefit of the planning permission, the site was aggressively promoted to the plc volume housebuilders and ultimately sold to Persimmon Homes for in excess of £20 million in 2015.
This long-term commitment to our clients protected them from any speculative expenditure and through the careful negotiation of development and planning agreements enabled us to maximise development value.