Gilbert Green leads a multi-disciplinary team which has provided advice to a leading farming family on the sale of land for development, the purchase of new land and the efficient structuring of their existing holdings.
TSP has acted for a leading Kent farming family for over 50 years and have provided advice across a number of specialist fields to ensure that they receive a comprehensive service to meet all of their needs. Gilbert Green (Commercial Property) heads a team including Penelope Edgar (Commercial Property), Mark Steggles (Dispute Resolution) and Mark Politz (Tax Planning).
We have recently completed the sale of a major development site to a national housebuilder. The complex structure of the deal included deferred payment secured by a charge on the land. In addition, we have negotiated an option for a potential phase 2 site. This deal required careful structuring to take account of our clients’ tax position and had to be renegotiated following the Brexit referendum.
We also acted on the purchase of new farmland for the family, including buildings converted into business use. Our experienced team was able to advise on the grant of new leases for this site. As part of our clients’ acquisition process we dealt with the restructuring of rights of way and wayleaves affecting the land to ensure that our clients’ needs were met.
Finally, we conducted a review of the way the family’s land and property was owned, in conjunction with their tax advisors. We incorporated new companies and limited liability partnerships (LLPs) to establish a structure which would enable a smooth transfer of ownership to the next generation, whilst preserving the income of the current generation.