Overage Clauses

[Punch]

There is some land available locally that has a 30% uplift for 80 years on any implementable planning consent or prior notice approval for any residential, mixed use or commercial development.

I'd heard of 25 years but 80 seems excessive. Is this the standard now?

Also would agricultural buildings be exempt?

Finally what should the discount be on the land?

TIA

 

[B R C]

Discount, you want discount
Seriously 80 years a bit long, I would tell them your interested but only for 25 years or whatever you are happy with. Agricultural should be exempt or I would walk away. Best thing is to put an offer in with your terms, you never know, I've seen land advertised with stupid clauses and gets sold without them in the end.

 

[franklin]

80 years is standard for church land.

It's open to negociation.

You can have them run in perpetuity now though!

 

[Kidds]

And you with your username too

 

[Punch]

 

[Punch]

Was always told "don't ask, don't get"!

 

[capfits]

Freehold in name. Anything but! Cake and eating it spring to mind.