Promotional Agreements are when a landowner enters into a joint venture with an investor where the landowner puts in the land and the investor pays for the planning promotional costs. Once planning permission is granted the land is sold on the open market or by private tender. The benefit of entering into a Promotional Agreement is that both parties are totally aligned as both want to obtain the highest price for the land and keep the costs of the promotion as low as possible. Often the investor himself will not build houses. Sometimes non-returnable premiums are paid on signing by the investor to the landowner. Promotional Agreements last for a limited number of years, during this time the landowner will be contractually obliged to offer a percentage of the land sale price to the investor if planning permission is granted. If planning is not forthcoming in this time period the investor will lose this premium and all of the promotional planning costs he has spent.
WebbPaton keep an up to date list of developers and investors looking for both short and long term strategic land. WebbPaton have in recent years successfully negotiated Promotional Agreement Terms with Pension Funds, city Institutions, private investors and nationally recognised property fund managers. In recent years WebbPaton clients with 1 acre or 750 acres have entered into Promotional Agreements on sites in Priory Vale, Wichelstowe, Haydon Wick, Purton, Lydiard Tregoze, Lydiard Millicent, South Marston, Washpool, Blunsdon, Wanborough, The Pry, Highworth, Faringdon, Shrivenham, Wootton Bassett and elsewhere around Swindon as well as in Buckinghamshire, Milton Keynes, Oxfordshire, Gloucestershire and Berkshire. With WebbPaton’s office conveniently located on the M4 corridor by Junction 16 on the outskirts of Swindon, we are well placed to look after Clients with land in the villages and market towns of North Wiltshire, Oxfordshire, Gloucestershire and Berkshire.
WebbPaton keep abreast of both the national and local planning policies affecting Swindon Borough Council, Wiltshire Council, Vale of White Horse District Council, West Berkshire District Council, South Oxfordshire District Council, Cherwell District Council, Bath and North East Somerset District Council, and Cotswold District Council. If you want to invest in strategic land or development land in Newbury, Wantage, Calne, Lyneham, Devizes, Royal Wootton Bassett, Chippenham, Hungerford, Swindon, Highworth, Malmesbury, Cricklade, Faringdon, Cirencester, or Marlborough or any of the villages in between please call our Development team to discuss.