Development
Our team advises a number of developers and also companies entering into transactions which are conditional on development works being carried out. Our construction team are also on hand to guide you through the process.
Acting for the public sector and for large portfolio landowners, we frequently deal with a variety of issues arising in respect of infrastructure and utilities.
“They are knowledgeable, friendly, efficient and a pleasure to work with.”
Chambers and Partners
FAQs- Development
Property development is the business process of either the purchase and renovation of an existing property, or the building of new property on vacant land, which can then be sold or leased for a profit.
Also known as “claw-back”, overage refers to a sum of money that the seller will become entitled to if a certain pre-agreed conditions are fulfilled. Overage clauses are not included in every transaction, but are used in situations where the property may become worth more in the future due to an uncertain event such as the granting of a new planning permission, that increases the value of the property.
An option is a contractual right to buy, sell or lease a property at an agreed price within a specified time period. The purchaser normally pays for the option and cannot pass it on to another party.
