Case Study

Otterpool Park, Folkestone

We have been an integral part of the Consultancy team at Otterpool Park, driving forward the early stages of a new garden town outside of Folkestone in Kent.

A number of our teams have supported the clients in acquiring third party land interests and formulating the business plan for the first phase of this new 8,500 home settlement and we are retained to bring forward early service land parcel disposals, generating a significant capital receipt for Folkestone & Hythe District Council.

We were instructed first by Folkestone & Hythe District Council and then by Otterpool Park LLP, a wholly owned local authority delivery vehicle, to advise on the Master Developer business plan and subsequent serviced land parcel sales.

Our teams have been retained to formulate a Strategic Land Agreement with the local authority, acquiring freehold land, and under option agreements, deliver the settlement and negotiate land disposals and JV agreements to maximise returns to the LLP as Master Developer. 

What was our approach?

We have been advising Otterpool Park LLP on the acquisition of land for the delivery of a new Garden Community at Westenhanger in Kent. Our teams are also negotiating with Homes England on funding proposals, including the delivery of a fully funded wastewater treatment works on third party land.

Subject to finalising the S106 Agreement, Otterpool Park will come forward as a new town with over 8,500 homes, retail space, schools, offices and community assets.

Our services have included the acquisition of the freehold interest, valuation and acquisition of outlying assets, bringing forward our client’s vision of a landmark settlement.

Terms were also agreed with the first six house builders, including a JV delivery plan for a new town centre.

Financial modelling of the Master Developer position was devised to minimise peak-debt and engage with third parties, including Homes England and an agreement and delivery of the business plan with subsequent updates was handled jointly with another agent.

Results achieved

The success of this instruction required multiple service offerings within our business, allowing our client access to a full suite of solutions to deliver a first of its kind in Kent and one of the largest garden cities in the country. 

Otterpool Park, Folkestone