David Perry

By scoping tasks, allocating them across the client service team, maintaining clear communication with all parties and using effective reporting and project management tools – such as checklists, routine calls or in-person meetings at key milestones. Successful delivery depends on balancing risk and return and aligning everyone’s expectations so the deal closes efficiently, in good time and at the right price and cost.

There’s rarely a single “best way” – various strategies balance risk and return, which is why it’s a good idea to involve your lawyer at the Heads of Terms stage, to help you structure the transaction to manage risk. For example, immediate positions on the land may be secured through options or conditional contracts, while longer-term arrangements could involve promotion agreements or hybrid structures. Cashflow considerations might include deferred consideration and security for payments, such as a legal charge; or owners may wish to share in future gains through overage agreements or other profit-sharing structures like joint ventures. Land acquisition can occur directly or by acquiring the entity that holds the land, which would involve a share purchase rather than a direct land purchase. The transaction could also involve obtaining the freehold or entering a long leasehold arrangement, each with implications for purchasing, developing, financing and selling the asset. You may also need to consider what specialist teams should be involved in the deal – such as litigation, planning, corporate, banking, procurement, environmental or construction – and ensure your team has the necessary expertise to close the deal quickly and painlessly. There can be a lot of moving parts to complex sites; spending time with your lawyer to consider the Heads of Terms at the initial deal appraisal stage will help to make sure there are no unforeseen issues as the project develops.