Commercial & Development Property - Flexibility is key in these uncertain times!

Calm heads, flexibility and demand are seeing good deals over the line!

Despite these challenging times, we have been in regular contact with all parties on agreed deals, which with some understanding and flexibility on both sides, we are seeing things holding together and progressing. In fact, since lockdown and home working we are finalising heads of terms on a four-acre block of development land and have found another purchaser pushing for an exchange on another development site.

Naturally, current uncertainty has led to some renegotiation and discussion on the way forward. This is primarily driven by the uncertainty of the timescale within the planning system, due to the understandable change in working practice and staffing within Local Planning Authorities. This, rather than issues of value or even cold feet on buying. Sensible discussion by all parties around this subject and building in some flexibility on conditional contract deadlines, has kept deals progressing and in some cases given the purchaser the comfort of pushing for exchange.

Colin Low 

Head of Commercial & Development

Email: colinlow@robert-bell.org