We solved a complex planning puzzle, securing permission to develop two houses on derelict land and creating a unique investment opportunity for a local family.
A retired builder with good relationships with Landhaven owned the site. It had been left over from a previous development because of the planning challenges, and he’d approached us to help him sort it out. Unfortunately, the builder became ill and passed away. We committed to helping his family persevere with the project and set about preparing the most vigorous planning application possible.
We bought in several specialists to help us unlock the puzzle of the access road, including an expert Planning and Highways Consultant. Rather than a case officer making the decision, our application went to the Planning Committee, and we had several meetings on-site to answer their questions.
Residents, Alveston Parish Council and the local Ward Councillor raised quite a few objections. Thankfully our Planning Consultant was able to defend our proposals and explain the rationale. The Planning Committee voted on a motion that we should have permission granted, and they carried it in our favour, 6-1.
Having worked with the builder’s family to secure planning permission, we were offered the first refusal for the site – an opportunity for which we remain very grateful. We agreed to pay the absolute maximum for the site once the houses were built and would cover all the costs ourselves. This option appealed to the family as they were in no rush for the money, but things changed.
After speaking to their financial advisors, the family decided they would prefer payment upfront. We agreed on a new price but not before asking why the change of mind. They said they wanted to put their money to work sooner, and a light bulb went off. Instead of investing their money in various financial products with higher risk and lower interest rates, we could give them the same offer we do our investors, except we would pay their interest monthly.
This approach effectively creates a regular monthly income for the builder’s widow, and she’ll receive her entire capital sum back when she gives us notice to finish.