When buying a plot of land with a view to developing on it, it is important that you ensure that you can develop on the land the way that you wish. Our specialists at Josiah Hincks can be there to advise right from the start with site acquisition right through to contract negotiation, construction and final disposal.
When initially acquiring the land there are a number of issues that need to be dealt with. Most importantly, it must be certain that you are free to develop on the property once you have purchased it. Here at Josiah Hincks we can check the title deeds to ensure that the site has not got title issues that would prevent development. It is imperative that this is done as the title deeds can show any restrictive covenants that may prevent development on the land. Reviewing the title deeds will also establish the rights of way across the land. It is important that you have sufficient access to your site for building purposes, but it also needs to be sufficient enough to allow access to all eventual owners of plots.
As well as checking the title deeds, our solicitors at Josiah Hincks can also help with:
- Carrying out searches on the property in order to establish a full picture of the property you are purchasing.
- Negotiating contracts to buy the land itself.
- Stamp Duty Land Tax (SDLT). SDLT is charged on property transactions if the purchase price exceeds certain thresholds.
Having acquired the site, Josiah Hincks can also help with
Development Agreements: These agreements regulate the relationship between landowners, property developers and tenants in relation to the actual construction of the development between professional contractors. A development agreement essentially governs the interests and obligations of all parties involved and often includes the responsibilities of the team, compliance with planning and statutory consents, a description of the work being carried out, including its size and the extent of any parties liability. We can assist with drafting or agreeing section 106 agreements, section 38 agreements or section 104 agreements – anything under the Town and Country Planning Act 1990 or otherwise which relates to property development and in particular residential property development sites, our expert solicitors can deal with.
Negotiating option agreements: An option agreement may come in useful where a buyer wants to purchase the property, however this purchase may be conditional upon the completion of the construction.
Plot Sales: Josiah Hincks solicitors act for a number of developers to assist in fast, efficient and competitively priced plot sale work. We can assist in the preparation of legal packs and are ready and able to assist in swift completion of sales.
For more information about property development, please contact our commercial property department at your preferred branch: Leicester on 0116 255 1811, Blaby on 0116 264 3430 or Coalville on 01530 835 041.