Real Estate Talking Points: Development back to basics: Site assembly and vacant possession
A development site may be a single plot, owned by a single owner, comprised in a single legal title. Most developers will know from bitter experience, however, that this is seldom the case. Sites are more often a patchwork of land interests, which the developer must stitch together.
Once a developer has acquired the site, it then needs to secure vacant possession, which brings a new raft of challenges.
In this alert Jack Shand summarises the key points on site assembly and vacant possession.