Brown & Co were instructed by Taylor Wimpey to sell 10 acres of employment land in Attleborough, Norfolk.
Attleborough is an attractive market town situated approximately 20 miles south east of Norwich, close to the recently dualled A11 which is the main trunk road between Norwich and London.
The commercial land forms part of a larger area with detailed planning permission for 375 dwellings. The planning for the employment area was in outline for traditional B class employment.
Taylor Wimpey were obliged under the S106 Agreement to market the site for employment uses until the 100th dwelling was occupied, after which they could apply for an alternative use that they considered appropriate.
We agreed a marketing campaign with the council together with a guide price and scheduled that we would report any interest to the council on a quarterly basis.
After marketing for 6 months with little interest we received interest from Norfolk Property Services for a school, however their offer was subject to planning. Under the terms of the Section 106 our client was not obliged to sell for anything other than employment uses.
We were aware that if necessary NPS were in a position to attempt to invoke compulsory purchase powers and were of the opinion that if they considered this route they may well be successful.
Although a school use was not envisaged, it did make good sense and agreement was reached to sell the site unconditionally for £1.65 million which was in excess of the guide for industrial B class uses so everyone was happy and Attleborough gets a new school.