The real estate team acted for a large educational institution in connection with a £15m sale of surplus land to a national house builder

Thomson Snell & Passmore acted for a large educational institution in connection with a £15m sale of surplus land to a national housebuilder. A complex transaction for many reasons: the housebuilder’s proposed development of some 141 dwellings served as an enabling development allowing our client to build a much needed new facility within the grounds of the site that they retained; the site included listed buildings and previously undeveloped space; furthermore our client needed to remain in occupation of part of the site until the new facility has been constructed, meaning that complication provisions were required to enable our client to remain in occupation.

The purchase price is being paid to our client in tranches and careful drafting was required to ensure that payments received are aligned to payments that our client is required to make under the building contract.