Penelope Edgar negotiated the sale of the last of a family’s land to their commercial tenant. The deal included overage provisions to ensure that our clients will receive a share in the event that the land is developed in future.
Our clients were four sisters who owned land in Sussex. The land was partly occupied by a local manufacturing company and partly grazed by local farmers. Penelope Edgar was asked to act when the sisters decided to sell the land in order to raise cash. It was very important to them to maximise the value of the land. The manufacturer was delighted at the chance to buy the freehold of its unit and also purchased the grazing land. Penelope ensured that the deal was subject to overage provisions. This means that our clients are entitled to a portion of the proceeds of any future development of the agricultural land. Penelope’s approach meant that our clients will receive maximum value for their precious asset.