Sale of Land to the South of Lower Road

Having acted on behalf of the landowner for a number of years on residential and farming matters, our Shaftesbury office were approached by the client for advice on this 8.65 acre ‘greenfield’ site on the southern fringes of Stalbridge, Dorset after it became allocated as a potential residential site in the Local Plan.

After discussing the various possible options which were open to them, a decision was made to team up with a promoter to obtain a marketable planning consent with a view to subsequently selling the land in the open market for development.

The team approached a number of promoters and also received several incoming enquiries. After appraising various proposals an experienced Dorset based promoter, Land Value Alliances, was selected as a partner in the Spring of 2019 and terms for the Promotion Agreement were successfully negotiated and the Promotion Agreement was put into place.

Outline Planning Permission was eventually granted in November 2021 (on appeal) for 114 new homes and also for 2,000 sq m of business space. The Section 106 Agreement provided for 40% affordable housing as well as various on-site provisions and off-site financial contributions.

Marketing commenced in earnest in early 2022 at which time our Farm & Rural team dealt with the cessation of an existing Farm Business Tenancy.

Having gone out to a number of regional and national housebuilders, around 10 offers were received and the top two offers proceeded to subsequently improve their offers on a number of occasions in a highly competitive bidding process in what was a very strong market with a limited supply of land.

Following acceptance of an offer, solicitors were instructed and contracts were exchanged by the end of June 2022 for the sale of the land.

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