The Promotion Process:
Promotion Agreement
Entering into a promotion agreement with Axiom Developments is a relatively simple process that can usually be completed in a few months. Following an initial site assessment and introductory meeting with Axiom’s Principals the following process is usual:
Axiom will undertake an initial review of the site to include identifying potential opportunities and constraints, local planning policies and history, delivery challenges, potential likely type of development for the land and scale of the scheme
Axiom will then prepare an initial development appraisal to include an economic appraisal and project delivery trajectory for discussion with the Landowner and their Land Agent/Advisors to ensure alignment of both parties’ expectations on the potential values and timelines
Axiom will prepare a simple Heads of Terms for the Promotion Agreement which will include a proposed timelines and milestones, minimum agreed land values and a series of obligations on Axiom to perform diligently towards achieving the agreed planning and marketing and sales objectives
Once the Heads of Terms are signed, Axiom’s lawyers will prepare a formal Promotion Agreement for consideration by the Landowner’s Solicitor whose costs will also be borne by Axiom
The entire process above is cash-neutral for the Landowner - Axiom pays our Landowner Partner’s reasonable Solicitor’s legal fees and Land Agent’s fees
The Planning Process
Upon signature of the Promotion Agreement we will commence detailed work on bringing the potential development site forward through the planning process. This will typically involve the following main activities being undertaken by Axiom, together with the appropriate bespoke planning and technical team of consultants put together to match the specific needs of the project:
Appointment of an appropriate team of planning and technical advisors
Commission initial technical reports such as topography, highways and transportation, landscape & visual impact, ecology, archaeology, heritage, utilities, flood risk assessment, etc to support the masterplan and address any specific site constraints
Develop a concept masterplan for the site
Conduct a Pre-application Meeting with the local planning authority to review the initial proposals
Engage with the Local Authority and Community to ascertain their opinions and concerns
Agree revised masterplan and supporting evidence base with planning officers as reasonably required
Submit a formal planning application with full supporting documentation
When planning consent is granted there will be a number of pre-commencement conditions to discharge before the scheme can be regarded as “shovel ready”
Once any immediate planning conditions have been discharged the scheme will be marketed in an open market bidding process to identify the optimum delivery partner(s)
Depending on the scale of the proposed scheme, the development and submission of an outline planning application usually takes 12-18 months to complete and assuming the application is successful, planning permission could be granted within 18 - 24 months from commencing the promotion process.
An outline planning permission seeks to establish whether the scale and nature of a proposed development would be acceptable to the Local Planning Authority and will have matters reserved for a detailed or “reserved matters” application by the delivery partner.
In the event that an initial application is refused, Axiom would review the decision notice with the Landowner and their Agent/Advisors and agree on whether an appeal was appropriate based on the detailed reasons supporting the refusal.
Promotion through a Call for Sites process may also be required dependent on the status of the current Local Plan and housing land supply in the local authority area. Through a Call for Sites consultation process a site is appraised against all reasonable alternatives and if successful is allocated for residential development. This process typically takes between 18-36 months.
