The exercising of Option Agreements must be carefully thought through with a strategy put in place from a very early stage. Our team specialise in this line of work, with examples set out below:
- Appointed by a consortium of landowners to include a Trust to monitor the promotion of a 2,500 unit residential scheme with associated employment land in South Wales. During the course of monitoring the planning process Tim Cann undertook development appraisals and monitored local land transactions to advise on the viability of the planning approach. On consent and after receiving a Price Notice Tim acted to exercise the Option settling the land value with the purchaser.
- Acting for a house builder in Berkshire advice was provided on revisions to an Option Agreement to facilitate a suitable exercise notice, and then negotiated a settlement of the land value and the price payable.
- Instructed on a 1,200 residential unit and associated employment land uses in Worcestershire by a national house builder, Tim Cann appraised and updated the client to inform the exercise of 8 separate price notices over a period of three years.
- Acting for a consortium of housebuilders in Herefordshire to exercise a complex residential and employment scheme of 1,100 units with multiple landowners and third party access agreements. This matter was referred to an Independent Expert in a dispute on interpretation of the valuation approach and the value by one of the landowners.
Providing expert valuation and negotiation advice.