Thoughts & Opinions Archives - Page 36 of 36

Taking Back Control

Many residential developers are choosing to manage their own construction projects either by choice or necessity. Construction solicitor Matt Grellier looks at the pros and cons of taking back control. In December last year Greater Manchester-based Bardsley became the latest regional construction firm to go into administration. According to reports the firm, which employed 200 staff, recorded a turnover of £68.6m and a pre-tax profit of £340,000 in the year to December 2017. It was building a number of high profile city centre residential developments, all of which came to an abrupt standstill. Bardsley apparently had nearly £9m cash in the bank and had just been appointed to a £130m framework contract to build residential units for Sheffield-based housing consortium EN Procure […]

Weighing up the best options in property development

Thoughts & Opinions / Katie Sakka

Formerly a property industry secret, the number of option agreements has risen dramatically in recent years, and with numerous local authorities having relaxed their planning policies in order to encourage the creation of new homes, an increasing number of property entrepreneurs are seeing this opportunity as a way of making money. I would like to delve further into this relatively unknown development method and discuss the effect it is having on the property marketplace. An option agreement is a legally binding contract between a potential purchaser and a seller, granting the purchaser the opportunity of acquiring the property from the seller at an agreed price within a certain timeframe. During the option period, the purchaser will undertake to apply for planning permission

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