Whether you’re a national housebuilder or stepping into your first development, the journey from planning permission to completed sales is paved with challenges.
For developers, one of the most underestimated but crucial aspects is the process of selling plots and finally seeing your work come to fruition.
At Nockolds, our specialist Plot Sales Team acts for developers of all sizes, from household names delivering hundreds of homes per year to boutique developers crafting a handful of high-spec properties. Nockolds team deals with anywhere in the region of 1,500 -2,000 Plots per year and we act for a number of Developers of varying sizes.
Plot Sales – Is it the right choice for your new development project?
Some people may be of the opinion that Plot Sales only applies to the larger commercial developments, however this is most certainly not the case. Any newly built residential property or a refurbished building can fall into this category, from a stand-alone house to a development of 1000+ units.
As Plot Sales Executives we are integrated into the Commercial Property Team and offer a mechanism to ensure continuity with your transaction from start to finish. Within the Commercial Property team we can assist right from the outset with the acquisition of land, all the way through to the reversion of any Freehold interest you may then wish to dispose of, together with anything in between. We are also able to offer our expertise with:
- infrastructure agreements;
- HA sales, S.106 Agreements;
- Building Safety Act advice;
- the setting up of a Management Company;
- site set up; and
- the day to day running of your plot sales.
Involving us from the start ensures that we are fully prepared to deal with the enquiries that Buyer’s solicitors may raise and offers a smoother all-inclusive process for you from day one.
Who can benefit from instructing a Plot Sales Team?
The simple answer is anyone who intends to build or refurbish a new property (Freehold or Leasehold) for residential sale.
Whether you are looking to carry out a one-off build, a site of only a few properties or a development of hundreds of Plots, a Plot Sale Executive can offer the expertise to ensure the legal process runs as efficiently as possible.
What does the Plot Sale process entail? – it’s more than just conveyancing!
Whilst on the surface a plot sale is similar to a standard residential transaction and does incorporate many residential aspects, there are other factors to consider when dealing with a newly built property.
This may include:
- incorporating provisions for a new build warranty provider;
- the inclusion of a Management Company;
- considering the Building Safety Act together with other relevant legislations;
- planning permission(s) and building regulations;
- special conditions for completion; and
- obligations and restrictions on both the developer and the Buyer to name but a few.
Once planning permission has been obtained, as specialists in the Plot Sales field we can assist from the outset, even before your property goes on the market. We are able to prepare a title pack for the sale, to include all title documents necessary to allow us to deduce your title to Buyer’s solicitors, negotiate and settle a form of Contract and Transfer and/or Lease suitable to your development, deal with pre-contract enquiries from Buyer’s solicitors and progress your matter to the point of exchange and completion.
What would we require from you – i.e. “The Developer Shopping List”
Ultimately it is useful for us to have copies of any documentation you have in relation to your site; it is always better for us to have too much information rather than not enough! However, to provide you with an idea of some key documents we will require from you when it comes to a Plot Sale the main ones are listed below:
- Planning Permission(s) including any discharge notices you may already have.
- Building Regulation approval
- Building Warranty Provider documentation
- Section 38/278/106 Agreements or any other wayleave agreements (if any)
- Builders Insurance (all risk policy) Certificate
- Postal Address confirmation
- Individual plot and parking plans otherwise known as ‘red line drawings’
- A Site Plan detailing any particular structures i.e. electric gates etc
- Tree Preservation Orders (if any)
Whilst the above is not an exhaustive list, these documents together with an initial site set up meeting with you, will allow us to begin to create a legal pack in readiness for your first sale. We will work with you as the site progresses and discuss the need for any documents that would be specific to your site/development.
So, all in all, whilst our Plot Sales Team is an integral part of the Commercial Property Team we can also assist with the residential element of your site and although you may have thought Plot Sales is not the right option for your project, we are here to help with all developments big, small and anywhere in-between.
Recent success include:
We have advised a number of clients across a broad range of sites of differing sizes each with their own bespoke requirements.
- We advised a client on a complex acquisition of a site which incorporated both refurbishment and new build. By being involved from the point of acquisition we already had the documents and background knowledge of the site required to create a comprehensive legal pack to ensure a smooth plot sale process leading to less enquiries being raised with the client.
- We advised a client on a smaller development site whereby a management company was not required. We were able to advise the client on the best way to ensure that all land was transferred within the Plot Sale process ensuring that they were left with no additional land at the development as per their request. In doing so, we were able to create bespoke contracts and transfers that fitted the particular development, leading to a successful outcome with all Plots having completed and no need for our client to deal with a freehold reversion.
- Having worked with a client on a site that included both freehold and leasehold properties, together with a complex planning permission and associated documentation, our Plot Sales team were able to ensure that we had a number of bespoke documents in place to allow for all units to be dealt with promptly. The site also incorporated two separate Building Warranty providers and required a third party’s involvement to allow us to procure relevant restriction certificates. The Plot sales team were able to liaise with the third party on behalf of our client to assist in taking some work away from the client themselves.
Find out how we could help you by calling 01279 755777 or filling out our online enquiry form, and a member of our Team will be in touch.