Promotion Agreements
Our team of solicitors are specialists in drawing up Promotion Agreements. Contact the team today to discuss your requirement in detail.
- Milton Keynes 01908 660966
- Northampton 01604 828282
The contract will set out the obligations that each party agrees to undertake together with detailed information on the agreement between two or more parties.
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We will provide you with advice and assistance upon the detail needed to be entered into the contract to include plans, specifications, timescales, costs and the ability to amend and alter the term of the Building Agreement in accordance with the respective party’s needs and requirements, as the project progresses.
Frequently Asked Questions about Promotion Agreements
How does a promotion agreement work?
A promotion agreement is a form of development agreement where the landowner takes a more active role in promoting the land for planning permission, often with the help of a land promotion specialist. The landowner will fund the process of obtaining planning permission before an agreement to sell the land can be reached.
What is the difference between a promotion agreement and an option agreement?
A promotion agreement is a development agreement in which the landowner takes an active role in seeking to gain development permission on the land before the sale of the land, whereas an option agreement is a simple contract which allows a prospective buyer to purchase the land at an agreed price within a fixed time period, in exchange for an option fee.
What percentage do land promoters take?
A land promotion fee will vary from agency to agency and depending on the land transaction. Typical land promotion fees range from 10% to 30% of the net sale price.
What is a promotion agreement?
A promotion agreement is an agreement between the landowner and the developer of the land where the landowner will take an active role in trying to gain planning permission on the land, usually with the support of a land promotion agency, before the sale of the land can be completed.
What is the process of writing a promotion agreement?
A promotion agreement is formed when the landowner agrees to enter in to a contract to promote the land, usually with the help of a land promotion specialist, in an attempt to secure planning permission on the land and then find a suitable buyer.
Contact the Franklins Land Development team
If you have any questions about promotion agreements, please don’t hesitate to contact our team of experts who are on hand and ready to help you.
