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Land for sale
Land At, Gaddesden Lane, Redbourn, AL3 7AS
£1,000,000
Land At, Gaddesden Lane, Redbourn, AL3 7AS
£1,000,000
Our Summary
- INFORMAL TENDER - BEST AND FINAL OFFERS INVITED BY 17:00 ON 3RD APRIL 2025PROMOTION OR OPTION AGREEMENT OPPORTUNITYAn opportunity to enter into a Promotion Agreement or Option AgreementLand extending to 11
- - The Promoter will be obliged to seek the Landowners approval, not to be unreasonably withheld or delayed, on any Planning Application that they propose to submit
- Discount to Market ValuePlease make your proposals for the Discount to Market Value that represents the fee that will be raised on the completion of the sale reflecting the percentage success remuneration that will be charged as a consequence of the sale, whether as promoter or developer
- Approx 8 acres is included within the Hemel Garden Communities Growth AreaThe site falls within the planning jurisdiction of Dacorum Borough CouncilPotential opportunity to use part of the land for other development
Description
Brown & Co is inviting best and final offers to enter into a Promotion Agreement or Option Agreement for a 28.08-acre land parcel located off Gaddesden Lane, Redbourn, AL3 7AW. The property falls within the planning jurisdiction of Dacorum Borough Council and part of it is included within the Hemel Garden Communities Growth Area. The landowner is seeking a partner to promote the land for development, with the option to extend the agreement for up to 5 years plus two 5-year extensions. The proposed terms include the promoter's obligations, such as using their endeavours to maximize the value of the land, providing updates on progress, and seeking the landowner's approval for planning applications. The promotion/option fee is non-returnable but deductible from the sale price, and the landowner is seeking proposals for the discount to market value and overage provision. Interested parties are invited to submit their best and final offers by 17:00 on 3rd April 2025.