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Thomson Snell & Passmore advise on difficult promotion agreement

Thomson Snell & Passmore advised a landowner in connection with a long term promotion agreement which was exchanged in 2015 but which ran into difficulty. In 2016 it became clear that the site was part ransomed, which would have hindered the sale of the site even after planning permission for development had been secured. We successfully agreed the purchase of the ransom strip and in late 2016 planning permission was obtained for 140 houses. We negotiated the necessary planning agreement with the local authority and promoter which provided for contributions of several hundreds of thousand pounds for local services. The sale to a national housebuilder completed in August 2017 for £5.5m. Our experience in acting for developers promoting land and landowners meant that we were well placed to advise our client. Following completion our client said of Sarah Easton that her “expertise and wisdom had been invaluable”.

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