On this £500m residential redevelopment site of over 1.3m square feet over 4 acres on the Thames in Fulham we advised all clients with adjoining ownerships on the re-development of their sites including the appointment of the full professional team and architect to create a Masterplan for the sites.
We provided detailed development consultancy advice, appointment co-ordination and project management of the professional team, viability toolkit appraisals, Head lease and Freehold negotiations for a ‘collaboration agreement’ to enable re-development of this major development. The introduction of adjoining landowners within the Master plan provided for a unified approach.
We ran the professional team on behalf of the landowners; a Fund Manager and a development company, and negotiated ‘collaboration agreement’ between one of the landowners and the local authority. We then worked on the introduction of adjoining landowners without the need for a formal joint venture to create a holistic Masterplan funded jointly.
A new local development plan (SPD) for ‘Fulham Riverside South’ was already being consulted on by the local authority and Montagu Evans introduced, and subsequently co-ordinated, the Landowners approach to maximise asset value utilising the emerging policy.
Each parcel of river front land had its own issues; one a restrictive lease, the other a safeguarded wharf, the third not large enough to be driven forward in isolation and each in a different ownership. Montagu Evans co-ordinated all three parcels and their differing ownerships into an informal Partnership to take forward a Masterplan.
With our co-ordinated approach this enabled each landowner to share in the development costs and underpin the asset value of their sites through re-development proposals, and produce a Masterplan which not only works but will provide the local area with a valuable asset.