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Promotion Agreements Specialist promotion agreement solicitors in Milton Keynes

When a landowner wishes to profit from the development of their land, but without taking on the task of obtaining planning consent, a promotion agreement offers an alternative. Once a promotion agreement is in place, a promoter, generally a developer or planning expert, will deal with drawing up a planning application and putting it through the planning process.

Once planning consent has been issued, the promoter will deal with the marketing and sale of the land. On the eventual sale, the promoter will receive an agreed percentage of the net proceeds of sale after their costs have been taken into account.

At Heald Solicitors in Milton Keynes, we represent landowners, developers and promoters in negotiating and agreeing promotion agreements.

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At Heald Solicitors in Milton Keynes, we represent landowners, developers and promoters in negotiating and agreeing promotion agreements.

Agreeing the terms of a promotion agreement

A promotion agreement is a legally binding contract. The landowner does not generally provide any money towards obtaining planning consent, with the promoter’s payment coming entirely as a share of the eventual sale.

This means that the promoter is encouraged to do what they can to achieve the best price for the development site. They may have local knowledge which helps them market and sell at the right time.

The promotion agreement will be tailored to suit the exact circumstances of the case, to include specified timeframes for obtaining planning permission and sale.

Advantages of a promotion agreement

A promotion agreement allows both the landowner to benefit from the potential value of the land without having to tackle planning issues themselves, while the promoter can profit without having to fund the purchase of land.

The final share of profits is based on the actual sale price achieved, while other methods such as options involve valuing the land.

With a promotion agreement, the promoter and landowner both have the same objective, of achieving the best price. There is flexibility to delay the sale to take advantage of rising market prices.


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Services at a glance

Our promotion agreement services include the following:

  • Working with your planning advisor to advise you on the legal consequences of the promotion agreement – so you can decide whether a promotion agreement is the right choice for you
  • Negotiating the legal terms of the agreement – ensuring it meets your needs
  • Drawing up or advising on the promotion agreement – including the right clauses to protect your interests and clearly define the responsibilities of both parties once the figures have been negotiated by your planning advisor
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For expert advice contact our promotion agreement solicitors

At Heald Solicitors our commercial property team are experienced in dealing with the drafting and negotiation of promotion agreements. While our office is in Milton Keynes, we regularly work with clients throughout England and Wales, often remotely, meaning that you can expect the same expert legal advice and excellent client care wherever you are located.

If you wish to talk to a commercial property solicitor, please get in touch with our legal expert Caroline Wilton .

01908 662 277
[email protected]

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Our Legal Expert Caroline Wilton

Get to know us wih a call back, at a time that suits you. Let us offer some guidance and direction to start your journey with Heald Solicitors today.