Commercial land promotion FAQs
Considering promoting your land for commercial development? Here are answers to some of the questions landowners commonly ask us.
Landowner FAQs
What is commercial land promotion?
Commercial land promotion involves a specialist promoter identifying and pursuing the development potential of land before bringing the resulting opportunity to market. Richborough manages the planning, technical, design and commercial process and ultimately markets the land once the appropriate planning position has been achieved.
What is a Promotion Agreement?
. A Promotion Agreement is an agreement between a landowner and promoter under which the promoter seeks to secure planning permission and subsequently market the land. The landowner retains ownership until sale and the promoter’s fee is paid from the sale proceeds.
Why should I choose Richborough Commercial?
. Richborough Commercial combines specialist planning, land and development expertise with in-house engineering, architecture, urban design and disposals expertise. Unlike a developer seeking to acquire the land for its own development pipeline, our role is to promote the opportunity and create planning value before taking the land to market.
Who pays the planning and promotion costs?
. Richborough funds the costs associated with promoting the land through the planning system, subject to the terms of the individual Promotion Agreement.
How long does land promotion take?
. There is no standard timescale. Large, complex or Green Belt sites can take many years to progress, particularly where Local Plan allocation is required. Richborough’s general Landowner FAQs note that Promotion Agreements can commonly run for between five and 15 years in these circumstances. The likely strategy and timeframe for your land would be discussed as part of the appraisal process.
Do I have to sell my land to Richborough Commercial?
. Under the promotion model, Richborough Commercial does not need to acquire the land to make its return. Once the planning position has been achieved, the site is marketed to prospective purchasers.
How do I know whether my land has development potential?
. There is no single test. We consider location, size, planning policy, access, infrastructure, environmental constraints, surrounding uses and market demand. For commercial development, proximity to major towns, cities and strategic road networks can be particularly relevant.
Does my land need to be allocated for development?
. Not necessarily. Depending on the site, possible routes can include Local Plan promotion, strategic planning or an independently deliverable planning application.
What happens if planning permission is refused?
. Where appropriate, the strategy may include reviewing and resubmitting the application or lodging an appeal. Richborough’s general Landowner FAQs confirm that these options may be considered where an application is refused.
Will I be involved in the process?
. Yes. Landowner and agent input can be incorporated throughout the process, including consideration of legacy, retained land, protected interests and future phases.
Who eventually buys the land?
. Once the appropriate planning position is achieved, the land can be marketed to developers, occupiers, property companies, funds and investors.
How is the value of my land maximised?
. Our objective is to create a strong planning position and a competitive market for the resulting development opportunity. Promotion allows potential buyers to compete once the opportunity is clearer rather than identifying one eventual purchaser at the outset.
Can a site be sold in phases?
. Potentially. Sales can be phased or split where different purchasers or uses create stronger value, depending on the site and agreement.
When will I get paid?
. The exact payment arrangements depend on the Promotion Agreement. Richborough’s general Landowner FAQs state that sales proceeds are received once planning permission and a purchaser have been secured, with Richborough then receiving its pre-agreed fee. I would have the Commercial team/legal advisers confirm the wording before publishing, particularly whether any upfront premium is standard across Commercial agreements.
Have another question?
You do not need to know whether your land is suitable for development before contacting us.
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If you own land, represent a landowner or have identified a potential commercial opportunity, speak to our team. We can undertake an initial assessment and discuss the potential routes available.