Covenants for semi-detached plots

  • This topic has 2 replies, 3 voices, and was last updated 8 years ago by Anonymous.
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  • 23rd March 2016 at 4:25 pm #4922
    Anonymous
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    We are about to market 2 semi-detached serviced plots. Has anyone insisted on clauses that make the self builders work together or do you just leave them to sort it out themselves?

    1st April 2016 at 4:03 pm #4949
    Anonymous
    Inactive

    Perhaps the starting point is to consider the finance aspect? We’re keen to offer semi-plots as it opens the opportunity to a wider audience, most of whom will require lending on the plot purchase – our next stage is to take advice from Buildstore (http://www.buildstore.co.uk/) on how best to package the offer.

    8th April 2016 at 2:38 pm #5052
    Anonymous
    Inactive

    Liz- experience from the Continent is that the decision for purchasers of a semi/terrace to work together is left unregulated but they are told who the other buyer(s) are. For larger projects the council also hosts a meeting/workshop to clarify the terms on which the development should be commenced. Build out restrictions/fines/penalties etc. are of course imposed for each buyer through the disposal process. Imposing a ‘work together’ clause is likely to be unenforceable and unnecessary red tape.

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