Surveyors and Property Consultants

Regeneration & Strategic Development


Development Delivery Review & Development Agreements

 

Both promoters and developers frequently hold a portfolio of development agreements. Some of these may be active, whilst others may be dormant pending resolution of various matters or even a change in market conditions.  In many cases agreements may be historic and not now thoroughly understood by the parties.  An in depth understanding of that portfolio of agreements from the generality of objectives and expectations to the detail of individual objectives is an important part of the development management and delivery process.  On countless occasions opportunities are missed, obligations overlooked and expectations left unfulfilled by parties not having a comprehensive understanding of their portfolio of contractual agreements. 

 

Examination of development agreements may allow promoters to find opportunities for delivery, or even payments that are due.  These may be the key to unlocking development activity.   Similarly developers need to be fully cognisant of their obligations, some of which may be onerous, and the opportunities presented by their existing contractual arrangements.   The opportunities for renegotiation may suit both parties’ revised objectives and may present the prospects for mutual advantage in an otherwise seemingly moribund situation.

 

Even active agreements may not be operating successfully and may present impediments to delivery rather than guiding and promoting development.  Identifying those shortcomings needs a critical approach combined with an understanding and appreciation of alternatives.  Often simple tweaks is all that are required, but it is the identification of those tweaks that needs skill, expertise and experience set alongside a forward thinking market perspective.

 

We have worked extensively with development agreements for many years, we know how to create an effective agreement and how to remedy an agreement that is not delivering.  We are fully familiar with all forms of development agreements from complex joint ventures to everyday S.106 agreements.  Critically the current impetus towards delivery and the desire for essential economic growth has opened even further the opportunities and it is imperative to reconsider such agreements and obligations.  Invariably a central part of such reviews involves the reconsideration of development viability and the exploration of how that project can be restructured so that it becomes financially viable.  We have reconsidered and renegotiated numerous development agreements and S.106 obligations and successfully restarted development on countless occasions.

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