We approach landowners where we believe a site has development potential. If you are interested in engaging with Obsidian we will undertake further due diligence and make you a formal offer. We will cover all of your costs for entering into the Promotion Agreement and we will include an upfront payment to demonstrate commitment.

The site will be promoted through the Local Authority’s Local Plan process with the aim of having it formally allocated for housing. This will not be essential in all instances, on some occasions we can proceed straight to a Planning Application, however, promoting the site and working closely with the Local Authority is usually the best way to ensure success. We fund all the necessary promotion costs associated with promoting the site for a residential allocation.

Once the site is allocated for housing we will prepare and submit a planning application for a residential development. Again, Obsidian will fund all of the costs associated with the planning application.

Upon the granting of planning permission, Obsidian will prepare a detailed sale strategy for your approval setting out how we believe best value for the site will be achieved by creating a competitive bidding scenario, and we will manage the sale of the site on your behalf. A ‘Minimum Price’ is set within the Promotional Agreement, meaning if offers received for the site do not exceed the ‘Minimum Price’ you will not be obliged to sell, leaving you with the comfort that you will never receive a sum lower than that agreed.

Once the site is sold and you receive your return, Obsidian take a pre-agreed percentage of the sale price as our Promotion Fee. It is therefore in both our interests to maximise the sale price.