CLIENT
- Private client
CLIENT INDUSTRY
- Renewable Development
SERVICES PROVIDED
- Renewable Development/Agency
LOCATION
- Scotland
DIVISIONS INVOLVED
- Energy
DATE
- 2022-ongoing
BACKGROUND
In early 2022, a landowner approached the Savills development team looking to develop a large scale solar project on their land.
INSTRUCTION
Savills carried out the initial feasibility, providing a recommendation for the technology type and what the next steps would be.
Working with specialist sub-consultants Savills assisted the landowner in securing a grid connection.
The client decided the cost and risk of securing planning was too great for their circumstances and instead instructed Savills to take the site to market for a developer to take the project forward from here.
RESULTS
By securing the grid connection offer the project was greatly de-risked for an incoming developer. This allowed Savills to secure a share in the development premium for the landowner with the incoming developer. Significantly improving the offer over and above the market rent terms.
Finally, the ultimate success of this project were the commercial terms that Savills was able to negotiate on behalf of the landowners involved. This included a higher rent, a development premium and a stake in the project alongside an opportunity to buy a further stake at a reduced rate.
