Large scale developments usually require a lot of paperwork and a team of trained professionals. Hiring a commercial lease solicitor in London, like Saracens Solicitors, is just one of the things that any developer will have to do but it is an important step. Negotiations with local authorities regarding planning and development is often very complex and might include items such as section 106 agreements. These are defined as:
“… a mechanism which makes a development proposal acceptable in planning terms, that would not otherwise be acceptable. They are focused on site specific mitigation of the impact of development.”
Section 106 agreements help local authorities and developers to come to an accord so that new structures, estates and other commercial developments can go ahead. A commercial lease solicitor in London, like Saracens Solicitors, can help developers understand the terms, negotiate specifics and find ways to meet their ongoing responsibilities.
Providing affordable housing
Saracens Solicitors have experience acting in the matters surrounding housing developments. A common requirement embodied within section 106 agreement during these projects is that the developer will provide affordable housing for the area. This will be a certain percentage of the development. They are usually required to provide the appropriate infrastructure including roads and perhaps green spaces.
Each local authority has different requirements when it comes to the provision of affordable housing. It is possible to find general information from each local authority online during the planning stage. Saracens Solicitors can offer a consultation service to discuss likely section 106 implications of a development. We can help developers investigate the impact of any local guidelines on their plans when working as their commercial lease solicitor in London. This often includes time restrictions on the project.
Provision of public art
Not all section 106 agreements are strictly practical in nature or related strongly to the original project. As long as the results are deemed to benefit the community, the local council may ask the developers to add something more creative to the area such as public art pieces. That way, a developer can commission and fund local artists, create goodwill in the community and add to the uniqueness of the local area alongside their development.