Option Agreement Negotiation & Expert Witness Report case study

Site area: 22 dwellings
Agreement type: Option Agreement Negotiation & Expert Witness Report
Local Authority: Northamptonshire Council Council

Development land – Northamptonshire

Howkins & Harrison was instructed by a regional house builder to negotiate a purchase price of land under an option agreement, with the benefit of planning permission for up to 22 dwellings in rural Northamptonshire.

The H&H team met with the landowner’s assigned surveyor to discuss the site along with the planning permission, abnormal costs, predicted end values of the dwellings, the section 106 contributions and other areas with the goal of reaching a mutually beneficial settlement.

Initial consultation completed without an agreeable figure as the parties were too far adrift of a compromise. H&H were instructed to produce an Expert Witness report for negotiation purposes.

The detailed valuation appraisal produced, dealt with final house sale values, abnormal costs, 106 contributions, comparable evidence and a review of the landowners’ comparable evidence.

This process concluded with an agreed price before formal expert procedures and a favourable purchase price for the developer, our client. This ensured a saving for all parties, and enabled the development to move forward more quickly with a reduced purchase price for our clients.

For more information, please contact Ian Large | ian.large@howkinsandharrison.co.uk