Landreeve was instructed to act for a local authority who owned a strip of land along the front elevation of a building, which was being developed into flats with retail units to the ground floor. The planning permission revealed that three points of pedestrian access were across the strip owned by the council.
Following an in depth review, we were able to identify that the effect of the developer not having access over the strip of land was that the ground floor units would only be capable of being used for offices. This allowed us to place a figure on the uplift in value that would be achieved if access was granted over the strip.
After providing our valuation advice, we were instructed to negotiate a settlement with the developer. Following a short exchange, the developer accepted our proposal in full. This meant the developer was able to proceed and the council satisfied its statutory obligations to secure best value for its assets.