Promotion exchange in Middlesborough

Richard Roberts are pleased to announce we have exchanged a promotion agreement with our landowner in a charming village south of Middlesborough. The site is owed by 4 different landowners who have owned the site after inheriting it several years ago. Despite offers from developers, the landowners had not wished to enter an option agreement or conditional contract and liked the idea of promotion which links the success of their bottom line to the promoter profit.

Hugh Roberts - Land Director at Richard Roberts said:

‘We are thrilled our landowners have put their trust in us to promote this site on their behalf. With an extensive land portfolio across the family, they knew the benefits of a promotion and potential pitfalls of an option or conditional contract, and did not have the appetite for the capital expenditure or risk involved in funding the application themselves.

A big thank you to our landowner, their agent and their solicitor, and we look forward to bringing forward an application in Q2 of 2023. ‘