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For developers, Greenbelt provides a distinct alternative to traditional arrangements for the long- term management of open space land on new developments.
NEW SERVICE LAUNCHED DECEMBER 2008
Part cash/property model: Greater flexibility for UK new home developers in funding Public Open Space adoption.
Greenbelt has recognized during the current housing market climate the need to strengthen its existing solutions to the development industry for the adoption of Public Open Space (POS). In addition to our very successful Greenspace and Development Facilitation Fee solutions we have adapted our funding solutions to provide more flexibility for our developer customers.
In a market where the development industry is working within very tight cash restraints, the payment of larger commuted sums for the adoption of POS is proving difficult, but non adopted POS still remains a burden to all UK new home developers.
Greenbelt is now offering an additional solution for the developer's predicament and will structure a funding model that will enable the developer to fund the cost of POS adoption by way of a part cash payment in conjunction with a property transfer. This benefits the developer in two ways, it reduces the value of cash needed and provides a much needed plot sale and reduction of stock levels in a tough market.
This option still provides a clear exit strategy and allows the developer to relieve itself from its ongoing maintenance liabilities, reduces existing bond levels, relinquishes Health and Safety obligations and planning conditions can be discharged.
It has to be a win win situation and the model has already been successfully concluded with some of our major UK new home developer clients.
Gareth Davies - Greenbelt Group Business Development Director, commented "during the very tough trading conditions all of the UK's new home developers are finding themselves in, we have been revisiting our business solutions to look at ways we can continue to add value for our developer customers and be able to demonstrate our flexibility and willingness to adapt the way we can adopt Public Open Space"
To understand how this solution could add value to your business call our Business Development Team on 08450 940 940.