The Letter of Intent to Develop Property is commonly used in the initial stages of property development projects in England and Wales. It serves as a crucial stepping stone between informal discussions and formal legal agreements. This document typically outlines the proposed development plans, key commercial terms, conditions precedent, and timeline for the project. While generally non-binding except for specific clauses (such as confidentiality), it demonstrates serious intent and provides a framework for further negotiations. It's particularly useful when parties need to demonstrate commitment to lenders, stakeholders, or local authorities while formal agreements are being prepared.
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1. Sender and Recipient Details: Full legal names and addresses of both parties involved in the development proposal
2. Property Description: Detailed description of the property including address, title number, and current use
3. Development Intention: Clear statement of intended development plans and proposed use of the property
4. Proposed Timeline: Expected timeframes for key development stages and milestones
5. Conditions Precedent: Key conditions that need to be met before proceeding with the development
1. Due Diligence Requirements: Specific requirements for property investigation and feasibility studies
2. Exclusivity Period: Terms of exclusive negotiation period and restrictions on dealing with other parties
3. Cost Allocation: Agreement on how preliminary costs and professional fees will be shared between parties
4. Confidentiality Provisions: Terms regarding the confidential treatment of information exchanged during negotiations
1. Site Plan: Detailed plan showing the property boundaries and proposed development area
2. Initial Development Proposals: Preliminary drawings or descriptions of proposed development
3. Planning Status Summary: Current planning status and any pre-application feedback received
4. Title Documents: Relevant title documents and plans from Land Registry
Relevant legal definitions
Development
Property
Site
Planning Permission
Development Period
Completion Date
Conditions Precedent
Due Diligence
Exclusivity Period
Local Authority
Material Adverse Change
Permitted Use
Planning Application
Professional Team
Project
Proposed Development
Relevant Consents
Scheme
Target Date
Title Documents
Working Day
Development Costs
Development Programme
Environmental Laws
Planning Laws
Building Regulations
Development Agreement
Parties
Professional Advisers
Statutory Requirements
Clauses
Interpretation
Conditions Precedent
Due Diligence
Planning Permission
Environmental Compliance
Development Obligations
Timeline and Programme
Access Rights
Cost Allocation
Confidentiality
Exclusivity
Professional Appointments
Local Authority Requirements
Building Regulations Compliance
Title Matters
Termination Rights
Non-Binding Nature
Binding Obligations
Costs
Third Party Rights
Governing Law
Notices
Assignment
Variations
Good Faith
Force Majeure
Dispute Resolution
Entire Agreement
Relevant Industries
Relevant Teams
Relevant Roles
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