Our commercial land disposals process
Securing the appropriate planning position is a major milestone, but creating a successful development opportunity also requires a carefully managed route to market.
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Our disposals expertise brings together planning, technical, design, valuation, land and contract knowledge to prepare sites for market, engage credible purchasers and manage transactions through to legal completion.
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Richborough's dedicated Disposals Team works alongside planning, technical and design colleagues throughout the project lifecycle, developing tailored marketing strategies designed to create competitive interest and maximise value.
Land Disposal Process
Step 01
Pre-marketing
Disposal strategy
Marketing Pack
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Financial preperation
Step 02
Marketing Launch
Expressions of Interest (EoL)
Invitation to Tender (ITT)
Step 03
Bid Evaluation
Bid Analysis
Developer Interview
Best & Final (B&F)
Heads of Terms
Step 04
Legal Process
Contract negotiations
Letters of reliance
Step 05
Sale Agreed
Exchange
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Agree split of proceeds
Step 06
Completion
Conditions & payment confirmed
Step 01
Prepare the opportunity
Disposal strategy | Marketing pack | Financial preparation
We establish the most appropriate disposal strategy and prepare comprehensive information to help prospective purchasers understand the opportunity.
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Depending on the site, this can include:
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Professionally designed sales particulars
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Planning, Technical and Legal summaries
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Supporting technical reports
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High-quality drone footage
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Virtual data room
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Dedicated project information
These materials help prospective purchasers undertake informed due diligence from the outset.
Step 02
Launch to market
Expressions of Interest | Invitation to Tender
We engage credible prospective purchasers and provide clear information about the opportunity, bid requirements and timetable.
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Our network and market knowledge help us engage parties with the appropriate experience, appetite and ability to deliver.
Step 03
Analyse the bids
Bid analysis | Purchaser interviews | Best & Final offers | Heads of Terms
Offers are assessed beyond headline price.
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We consider:
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Development assumptions
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Abnormal costs
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Payment terms
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Financial standing
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Funding position
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Track record
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Delivery timetable
Shortlisted purchasers may be interviewed to test their assumptions, funding position and delivery programme.
Where appropriate, a further round of competitive bidding can be used to strengthen offers.
Step 04
Legal negotiations
Legal undertakings | Contract negotiations | Due diligence
Once a preferred purchaser has been identified, we remain actively involved alongside the relevant professional advisers.
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Our team helps respond to queries, resolve issues and maintain momentum throughout the legal process.
Step 05
Exchange
Agree final terms | Payment structure | Exchange contracts
Once commercial and legal terms have been agreed, the transaction progresses to exchange.
Step 06
Completion
Satisfy conditions precedent | Complete the sale
Once the relevant contractual requirements have been satisfied, the transaction progresses to legal completion.
Thorough due diligence from the outset
We conduct detailed research and due diligence throughout the promotion process rather than waiting until a site is ready for sale.
This allows planning, technical, design and commercial considerations to inform the scheme from an early stage and helps us identify constraints, understand risk and develop appropriate solutions.
When the opportunity reaches the market, prospective purchasers therefore have access to a substantial evidence base to support their own appraisal.
Competitive, but considered
We consider the overall quality and deliverability of an offer, including:
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Price
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Conditionality
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Development assumptions
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Abnormal costs
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Payment terms
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Funding and financial standing
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Purchaser track record
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Delivery programme
This helps us understand both the commercial proposition and the purchaser's ability to progress the opportunity successfully.