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Old 18-07-2015, 07:06 PM
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Join Date: Jul 2015
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Question Builder offering to develop my land as partners

Hi everyone
A building company were doing some work on our drive,the owner of the company has asked if we would be interested in him developing our 1/3 of an acre as a third partner,we haven't agreed yet but it is something we've been considering for a while,I just wondered if there was any one who has knowledge of this kind of arrangement,we've got the land,they've got the contacts and knowledge,all the costs are going to be split three ways as will any profit made,we estimate we can fit at least 6 3 bedroom homes on the land they weren't interested in just buying the land off us and said we'd make more money as partners.there is no planning permission yet but they don't see that as a problem
Thanks in advance
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Old 04-10-2015, 09:27 AM
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Location: Hinckley
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Default Re: Builder offering to develop my land as partners

Hi

this is pretty common although you must make sure everything that is agreed is do so in the form of a legal contract drawn up by a solicitor.
This must include a detailed breakdown of all costs & how these will be split between all parties
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Old 07-10-2015, 11:39 AM
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Default Re: Builder offering to develop my land as partners

Thats quite a normal transaction! Rather than going into partnership, incorporating a potential development is a good idea for tax purposes. If you want more information on this or are looking at ways to raise finance for your development I recommend Pomegranate Finance. Very good service
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