What is Strategic Land?
Land which is not currently zoned for development, but which has medium to long term potential to be zoned.
What is a Strategic Land transaction?
The deals will usually have a 5 to 30 year timescale, and typically take the form of Option, Development or Joint Venture Agreements. They are very much tied into the planning process, and will involve one or both parties being obliged to promote the site through planning, with a view to obtaining as "valuable" a consent as possible. In the current market the price will usually be based on a % of Open Market Value, or ultimate sales prices.
Some of the usual areas for negotiation are: deductibles and abnormals; planning gain; obligations to progress planning and timescales for that; developable against non developable acres; and Section 75 Agreements.
The team works with both developers and land owners, and will be happy to speak to any landowner who has had a developer knocking on their door, looking to tie up an option, or similar deal. Likewise, any developers who are finding the bank manager's door no longer open to them, and who are looking for ways of devising deals that may allow them to tie up land on a profit and risk sharing basis.