New Land Investment Opportunities Scotland

The Company has engaged professional planning consultants, Keppie Design Limited, (“Keppies”) who have provided an assessment of the land and its suitability for redesignation for residential development and obtaining planning permission for the same.  Keppies will be responsible for presenting the strongest possible application to the local authority on behalf of the Company.  They are specialists in land redesignation and understand all the latest issues relating to planning guidance. They are also experienced at working with local councils in respect of the redesignation of Greenbelt and Greenfield land and they understand that to successfully lobby the local council for redesignation the Company must work closely with the local council. 

The Company, together with Keppies, or such other planning consultants as the Company may engage from time to time, will promote the land for:

All Councils in Scotland are required to prepare structure and local plans for their areas.  The structure plan and local plan show how much development may take place, where it will take place and where it is unlikely to be allowed.  They are the basis for decisions on planning applications.  They contain policies for the future development and use of land in an area.

The local plan is made up of a written statement and a proposal which:

Initial Stage

The process often begins with the Council issuing a consultative draft of the new local plan.  This is put out for public consultation. 

Publicity and Consultation

Before publishing a finalised draft, the Council issues a report assessing responses to the consultation draft.

Finalised Draft

After a statutory 6 week deposit period for making objections, the Council may enter into negotiations and make changes to remove objections to the plan.

Amendments

The Council then publishes amendments to the finalised draft.

Local Plan Inquiry

A Scottish Executive Reporter considers remaining objections at a local plan inquiry and recommends modifications.

Modifications to Finalised Draft

There is only a further inquiry after a 6 week objection period if new objections relate to issues not considered at the first inquiry.

Notice of Intention to Adopt

The Council adopts the local plan unless the Scottish Ministers intervene within four weeks of the notice of intention to adopt.

Keppies will actively promote the Site through the next review of the local plan as described above and shall be responsible for providing detailed information in support of a residential release for the Site at the various key stages of the local plan process to prove that the Site can be seen as a logical extension to the existing settlement of Lochwinnoch.

Keppies have, at the request of the Company, already produced a Framework Report which seeks to provide Renfrewshire Council with a document that explores the potential for residential development at the Site as well as the enhancement and consolidation of the existing entrance into Lochwinnoch to create a “gateway feature” that reflects the character of the village of Lochwinnoch.  The Framework Report will be submitted by the Company to Renfrewshire Council at the earliest appropriate opportunity.

The strategy of the Company is simple:

The Company seeks to provide for Investors:

• 
  1) An opportunity for capital growth in the shares held by members;

  • 2) A secure investment in a quality site;

  • 3) A tax efficient investment; and

  • 4) A straightforward tangible investment.

The term of the investment will be the time between each Investor making his/her initial purchase of shares and the eventual sale of the Site or the shares in the Company.  It is not possible for the Directors to specify a time period within which this will be achieved.  Investors should be aware that while the Directors of the Company believe that there is a good opportunity that the Site may be redesignated at an early stage in the life of the Company, redesignation can often take up to 10 years, or more, depending on the results of the local planning meeting where the decision by the local planners as to the redesignation is made.

The Land Owner will own approximately 16% of the equity in the Company.  ILI, the founder member of the Company, will own approximately 4% of the equity in the Company and Keppies will own approximately 0.4% of the equity in the Company (all assuming the offer is fully subscribed).  As the Land Owner and ILI will own 20% of the entire issued share capital of the Company the Directors believe that the interests of all members of the Company will be aligned - to achieve an uplift in the value of the Site and hence the value of the shares in the Company and to maximise returns from the development or sale of the Site.