bars

Development Projects and
the Role of a Solicitor: 

Site acquisitions for development projects involve the purchase of land or properties with the intention of developing them for commercial, residential, industrial, or mixed-use purposes.

Here at Price and Kelway, we can guide you through and assist you with what can often be a
complex and multi-faceted process.

Here’s what the process involves and how we can help you:

1. Initial Assessment and Due Diligence:

  • We recognise the importance of carrying out early due diligence once our clients have identified a site. This includes us reviewing title and other legal documents to assist you in assessing the feasibility of the acquisition.  

2. Negotiation and Offer: 

  • Once an offer has been accepted either through an estate or land agent, we can assist with the consideration and negotiation of Heads of Terms which provide the framework for the deal which the substantive contract paperwork will follow.  

3. Title Investigation and Land Registry Searches:

  • We conduct title investigations and land registry searches to verify the seller’s ownership of the property and identify any encumbrances, easements, or restrictions affecting the site. 
  • We review title deeds, survey plans, and property records to ensure clear and marketable title to the property and to identify any development constraints with a view to assisting you in alleviating these. 

4. Legal Documentation and Contract Drafting: 

  • We can assist in the drafting of various legal documents which can form part of the deal and/or be a pre-requisite of the purchase transaction. This can include exclusivity agreements, option agreements, development or building agreements and ancillary documents. 
  • We draft or review the main transactional document being the sale/purchase agreement including any rights and covenants as may be necessary, the payment terms, conditions precedent, obligations of either party and warranties and/or indemnities for the buyer’s protection. 
  • We work hard to ensure that the legal documentation accurately reflects the parties’ intentions, mitigates risks, and complies with legal requirements. 

5. Regulatory Compliance and Planning Permission:

  • We are happy to work alongside your architects, engineers, and planners to develop a comprehensive site plan and design that aligns with your objectives and complies with regulatory requirements. 
  • We can assist your planning consultant in obtaining planning permissions by preparing planning agreements and unilateral undertakings and providing the Local Planning Authority with Certificates of Title as may be required. We can also assist alongside your planning consultant in obtaining permits, and approvals from local authorities. 

6. Financing Arrangements:

  • Alongside your financial advisors and mortgage brokers we can assist in arranging financing for the acquisition, including commercial loans, mortgages, orr other financing options. Our role involves considering and advising on the terms of financing agreements, loan terms, security arrangements, and collateral requirements to ensure compliance with legal and financial obligations. 

7. Completion and Transfer of Ownership: 

  • We oversee completion and strive to make this as seamless as possible. 
  • We facilitate the transfer of ownership, coordinate the exchange of funds, and ensure that the applicable tax returns (Land Transaction Tax in Wales or Stamp Duty Land Tax in England) are made and that the property is properly registered with the relevant authorities. 

8. Post-Acquisition Matters: 

  • We can provide ongoing legal support and advice on development-related issues, contractual obligations, and risk management strategies throughout the development process. 

9. Site Set-Up, Infrastructure and Utilities 

  • We can assist with the various infrastructure agreements that may be required to bring services onto the site in line with your development plan. We liaise with the statutory undertakers to agree the terms of the same and assist you through the process. 
  • We liaise with the Local Highways Department to put suitable road agreements in place to facilitate the adoption and subsequent maintenance of any estate roads by the Local Planning Authority and to ensure that any connections needed to an existing highway are authorised. 
  • We can assist you in the registration process with your chosen building warranty provider and any third parties such as social regulated landlords, help to buy or other third parties with whom you may wish to work with on your chosen project. 
  • We work alongside your architect to ensure that suitable plans for the sale/lease of any units are prepared and we liaise with HM Land Registry to have your estate layout plan approved to ensure a smoother plot sales process. 
  • We can advise on the need for and formation of a Management Company to facilitate the ongoing management and maintenance of the site and any open space that will remain. 
  • We can liaise with HM Land Registry to have your estate layout approved to ensure a smoother plot sales process. 

10. Plot Sales 

  • Our plot sales team can assist with the onward sales of plots and/or units and will prepare a suitable Plot Transfer to ensure uniformity across the site. We prepare a standard Contract Pack in early course and will liaise with your selling agents and plot buyers solicitors to progress the plot sales as efficiently as possible.