Great Notley is a large commuter village on the outskirts of Braintree and Nick Harper’s clients were landowners with 9 acres adjoining the village. Nick negotiated commercial terms for Crest Nicholson to enter into an option and this led to Crest successfully obtaining permission for 90 houses. 

Negotiations with housebuilders under option agreement sales can be complex and involve arriving at the land’s market value as if it had been hypothetically sold on the open market and exposed to competitive bids, rather than to the housebuilder. This means looking at comparable market evidence of other open market sales as well as the alternative of Residual Land Value which entails assessing the site’s Gross Development Value, building and infrastructure costs and developer’s profit.

Hawkspur conducted sale negotiations for the landowners resulting in a successful sale of the site with outline planning permission.