We cover the entire UK and will look at most sites that are near the major road network. Most of our schemes tend to be in the Midlands and North UK due to its central position and motorway network.

Site sizes across the business vary from anywhere between 20 and 1,000 acres. Our typical site size is 50 acres +.

The value of land is directly tied to its potential uses, and values increase significantly as the land moves closer to obtaining full planning permission. While it is possible to pursue planning permission independently, the process can be complex and costly, typically over £1 million for larger development schemes. Alternatively, Landowners may consider entering into an Agreement with a Developer or Promoter whereby that party runs and funds the planning process in exchange for a share of the uplift in value of the land on receipt of planning permission.

This is one of the most common structures and is generally our preferred route. It is a legally binding contract where the Developer purchases an exclusive right to purchase the land at a set price mechanism within a specified timeframe, usually subject to obtaining planning permission. The Developer will pay for all the costs included in the process in return for the price paid for the land being at a discount to market value. The discount is to compensate the Developer for the risk and cost of obtaining planning permission.

A Promotion Agreement is like an Option Agreement but rather than, in this case the Promoter buying the land at the end of the process the land is sold in the Open Market. The proceeds of the sale will be shared between the Landowner and Promoter at a pre-agreed percentage split. The benefit of a Promotion Agreement is that the land is sold in the open market rather than the price being based on a valuation. One disadvantage is that the Promoter will not be the end owner of the land. There is therefore no long-term commitment to the quality of the scheme or the relationship with you or the local community.

Our purpose is to develop warehouses that are then let on long-term leases to provide income for Tritax Big Box REIT (Real Estate Investment Trust). Occasionally Tritax Symmetry enters into promotion agreements but when the land is part of a larger scheme that contains a residential element.

In some circumstances we may be able to offer to purchase the land outright now, but this would be at a significant discount to the future value with the benefit of planning permission. A purchase at this stage would be closer to the existing use value – typically farmland – and so is less likely to be of interest to Landowners wishing to maximise its value.

Typically yes until the point the land is purchased or sold subject to an appropriate notice period.

This varies significantly on a site by site basis: there are many variables in developing land and is largely dependent on the state of the Local Plan as it determines land allocations. Our proposal document will include a detail of our planning strategy and timescales.

No, whilst this is an expensive process running into the millions, we cover the costs throughout the process. This cost will however be deducted from the end price paid to the landowner.

The Landowner is not expected to pay anything during this process, in many cases we cover legal and agents’ fees capped to an agreed level.

Whilst we have good knowledge of tax implications in relation to land sale and promotion we do not give Landowners direct advice as it’s a specialist topic. We strongly recommend engaging with a Land Agent and we have several we can recommend.

Typically we buy the land at a discount to ‘market value’ once we receive planning permission. The discount is our profit and is a reward for the investment and risk we take in promoting the site. We also aim to make development profit from the buildings we eventually deliver, being the difference between the cost of the buildings and their end value.

In our Offer document, we state all relevant information on how we arrive at a land value. In some cases we can also agree on a confirmed minimum price per net developable acre. This will vary dependent on a number of factors which can be clearly set out in our Proposal document.

Greenfield is land that hasn’t been built upon or used and is typically farmland. Brownfield is land that has been previously developed which will have more costs and risks to redevelop subsequently, we tend to focus on greenfield land.