Portmeirion Potteries Ltd. identified a property which they no longer required and offered it for sale on the open market.
The premises comprised some 4.8 acres of land with approximately 195,000 sq. ft. of industrial buildings.
It was the location of the property which was of particular interest to our clients because the surrounding streets were all residential.
The Local Planning Authority had prepared an outline planning brief giving their ideas for the redevelopment of the site. This was carefully examined and interpreted in our appraisal process for the site and assumptions were made regarding development density on the basis of that information.
Amidst serious competition and despite the site being sold in its current condition with issues of contamination, clients succeeded in offering the best unconditional deal to the vendor, their offer was accepted and the purchase completed in January 2007.
Architects, who had assisted in the appraisal process, were fully instructed and the professional team engaged with the Local Planning Authority to discuss the future of the site.
Using the sketch schemes which were worked up during the discussion process we elicited the interest of a public sector stakeholder in the local area which had expressed an interest in the site from its first appearing on the open market.
After an intense negotiating process an unconditional onward sale of the site was agreed. The potential of the site had been illustrated to the eventual purchaser which they required for a mixed use redevelopment scheme: offices, sheltered accommodation and open market housing.
This case is unusual because neither our client nor the party to whom they sold it decontaminated the land, demolished the buildings, or obtained formal planning permission