Land Promotion Agreements in Castlereagh
A land promotion agreement in Castlereagh is a partnership in which a promoter funds and manages the planning process, then sells the land on the open market with the landowner. The promoter's costs and an agreed fee come out of the sale proceeds. Because both sides are paid from the same sale, both want the highest price.
Castlereagh · BT5Free site appraisal
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- Free site appraisalNo cost, no obligation
- Legal fees coveredReasonable fees, on options and promotion
- Nothing to pay upfrontOn promotion: we fund planning
- Direct purchaseSuitable sites, with or without planning
- UK-wideEngland, Wales, Scotland and NI
Land we look at around Castlereagh
In County Down, Castlereagh lies about 11 miles south-west of Bangor (County Down); its central postcode district is BT5. Nearby, we also cover Belfast, Newtownabbey and Lisburn, all within 7 miles.
In and around Castlereagh, the land we appraise ranges from brownfield land in and around Castlereagh to infill gaps along existing streets, including fields put forward or allocated in the local plan. As Castlereagh is in Northern Ireland, applications are judged against the Strategic Planning Policy Statement, and the buyer of land pays Stamp Duty Land Tax (SDLT).
A postcode and a rough boundary are enough for us to start a free appraisal of land near Castlereagh.
What we offer in Castlereagh
Strategic planning work
Larger sites often need representations to the development plan, studies on transport, drainage and ecology, and engagement with the local community. We manage that work and report progress to you.
Minimum price agreed early
The agreement sets a floor below which you cannot be required to sell. Some agreements allow it to be reviewed by an independent surveyor if the market moves during the term.
Retained land protected
If you keep neighbouring land, the agreement can secure access and services to it, so the new scheme does not cut off the rest of your holding or limit its future use.
Reasonable legal fees covered
We pay your reasonable legal fees on promotion agreements, with the amount agreed up front in the heads of terms. You choose your own solicitor to act for you.
How the rules work in Castlereagh
Countryside planning policy in Northern Ireland is generally restrictive, so land inside or next to the settlement development limits around Castlereagh is usually the strongest prospect for new homes. Outline planning permission can establish the principle, with reserved matters approved later. A promotion agreement lets us fund that planning work, with our costs recovered from the sale proceeds only if the land sells with planning. Your reasonable legal fees are covered too, agreed in the heads of terms.
In Northern Ireland, larger sites generally need zoning for housing in the council's local policies plan, which follows its adopted plan strategy. Regionally significant proposals are decided by the Department for Infrastructure. Promotion work should allow for Section 76 obligations, DfI Roads requirements and wastewater capacity, which can be a constraint in parts of Northern Ireland.
| National planning policy | Strategic Planning Policy Statement (SPPS, Edition 2), applied with retained Planning Policy Statements until each council adopts its Plan Strategy |
|---|---|
| Who decides applications | The 11 district councils, with the Department for Infrastructure deciding regionally significant applications |
| In-principle consent | Outline planning permission, with reserved matters approved later |
| Developer contributions | Section 76 planning agreements under the Planning Act (Northern Ireland) 2011 (there is no Community Infrastructure Levy) |
Land Promotion Agreements in Castlereagh: questions
What is a minimum price in a promotion agreement?
It is the lowest figure at which the landowner can be required to sell once planning is granted. It protects you from a sale in a weak market. Set it too high and the land may not sell; set it too low and it gives little protection. Some agreements allow review by an independent surveyor.
What fee does a land promoter take?
The fee is usually a share of the sale proceeds, sometimes calculated after costs are deducted and sometimes capped. There is no standard rate: it depends on the size of the site, the planning risk and the costs involved. Ask for the fee and the cost rules to be set out clearly in the heads of terms.
Can a promotion agreement cover land owned by several people?
Yes. Neighbours, family members or trustees can sign one agreement, or linked agreements, often with a separate arrangement for sharing proceeds between them. This makes it easier to bring forward a larger site with a single planning strategy. Our land assembly page explains how sharing usually works.
How does a land promotion agreement work?
The landowner and promoter sign an agreement for a set term. The promoter funds and runs the planning process. If permission is granted, the land is sold on the open market, provided offers meet an agreed minimum price. From the proceeds, the promoter recovers its costs and takes an agreed fee, and the landowner receives the balance.
Is Castlereagh an area you cover for land?
Yes, we cover land in Castlereagh and elsewhere in County Down, including Newry, Downpatrick and Banbridge. Where a site suits us we can buy it directly, or set up an option or promotion agreement. On promotion there is nothing to pay upfront.
Read more: Land Promotion Agreements · Guide: Option agreement or promotion agreement: what is the difference?