Industrial Development, Planning and Agency Advice - Brosland Limited

Challenge

Vail Williams was appointed by Brosland Limited to advise on the development viability of land at Salbrook Road in Surrey for industrial / warehouse use.

We advised on a variety of issues from complex land assembly and optimum land use, to planning and development options. This informed the future strategy for the site, which we subsequently sold for £6.4m.

How we helped

• Advised on complex land assembly, including purchase of plot from UKPN required to enable comprehensive redevelopment.
• Addressed future landownership and restrictive covenants to ensure development viability.
• Undertook development viability assessment, establishing highest returns for a 66,000 sq ft industrial/warehouse scheme.
• Undertook planning assessment and pre-application meeting with Local Planning Authority to establish constraints.
• Considered occupier demand and identified market land value ‘peak’ for the logistics sector based on strong demand.

Results

• Tested the site for sale, marketing it with both developer and owner occupier interest.
• Proactive advice on the optimum deliverable layouts, planning, market conditions and land assembly, resulted in a successful unconditional sale for our client for optimum value.
• Sale was agreed with Grundon Waste Management for £6.4m – circa £2.5m per developable acre.