“In these somewhat tricky financial times, it is unsurprising that the Government is keen to persuade property developers to do their bit to kick-start the ailing economy by dusting off chunks of their carefully land-banked acreage and getting on with long-shelved construction projects. However, many things have changed in this post-banking-apocalypse world, and it is unlikely that developers will be in a position simply to take up projects exactly where they left off a few years ago. In addition to the obvious funding difficulties they now face, developers large and small will need to be alert to changes in planning policy and local needs since they put their projects on hold. These will be particularly relevant where the developer requires an extension of time on the original planning permission or where he wishes to escape from or mitigate the burden of an obligation previously accepted in order to obtain that permission or to deal with reserved matters.”
Hardwicke Chambers, 10th December 2012
Source: www.hardwicke.co.uk
