Land At, Gaddesden Lane, Redbourn, AL3 7AS

INFORMAL TENDER - BEST AND FINAL OFFERS INVITED BY 17:00 ON 3RD APRIL 2025

PROMOTION OR OPTION AGREEMENT OPPORTUNITY

An opportunity to enter into a Promotion Agreement or Option Agreement

Land extending to 11.36 ha (28.08acres)

PROMOTION OR OPTION AGREEMENT OPPORTUNITY

Brown&Co have been asked to formally offer this opportunity to enter into either a Promotion or Option Agreement on this land on behalf of the Landowner.

Detailed Description

THE PROPERTY

The property is located to the south of Gaddesden Lane and extends to 28.08 acres across two field parcels. The site falls within the planning jurisdiction of Dacorum Borough Council.

PLANNING SUMMARY

Part of the land, approximately 8 acres, is within the current Hemel Garden Communities Growth Area, which has also been recognised within the Pre-Submission Dacorum Local Plan to 2041. It is considered the remaining approximately 20 acres could be proposed for other development purposes, such as SANG or BNG, but this is a the discretion of the Local Authority.

Location

Land off Gaddesden Lane, Redbourn, AL3 7AW

FURTHER INFORMATION

The above provides a skeleton for the intended Agreement. if any of the above prescribed terms are unacceptable then please submit your alternative proposals within your offer for your Promotion Agreement.

If you have any questions or queries relating to the Land or the Promotion/Option Agreement please do not hesitate to contact the Landowner's Agent to discuss the opportunity further.

Informal Tender - Best and final offers invited by 17:00 on 3rd April 2025. The vendors reserve the right not to accept the highest or indeed any of the offers received. Offers must be posted to the below address and clearly marked TENDER - Gaddesden Lane, Redbourn or emailed to debbie.

Brown&Co
5 Oakwood Road
Doddington Road
Lincoln, LN6 3LH

John Elliott
M:
E: john.

Alistair Anderson
M:
E: alistair.

PROPOSED TERMS

Below is a list of headings of certain core principles that would form the basis of any agreement. Please note this list is not exhaustive and other more detailed matters will need to be addressed and agreed upon. However, we set out the positions that the Landowners will require within the Promotion/Option Agreement and others that we seek your position upon.

We propose the Agreement is to extend up to 5 years plus two 5-year extensions at the discretion of the Promoter. You may propose a different phased timescale.

Promoters Obligations

- The Promoter will be required to use their endeavours to maximise the value of the land through the gaining of a planning consent but also through minimising costs through planning conditions, Section 106 Agreement, layout and design
- The Promoter will provide updates on their progress throughout the term of the Agreement.
- 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.
- To report and seek approval to any fundamental changes to the Application that might occur during its passage through the planning process.

Promotion/Option Fee

The promotion/option fee is non-returnable but is deductible from the sale price and you are invited to submit your proposal for the promotion/option fees including fees on extensions.

Discount to Market Value

Please 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. The landowner intends to include an overage provision on the land outside of the developable area.

Approx 8 acres is included within the Hemel Garden Communities Growth Area

The site falls within the planning jurisdiction of Dacorum Borough Council

Potential opportunity to use part of the land for other development