Project
Acquisition of national land promoter
Barratt Developments PLC – Gladman Developments Ltd
Lichfields advised Barratt Developments PLC on its 2022 acquisition of the land promoter Gladman Developments for £250m.
Gladman’s portfolio comprised approximately 400 potential sites with an average site size of 242 plots. Appointed in November 2021, and working to a tight 10-week deadline for the transaction to close, we provided planning due diligence on a sample of over 100 individual sites and wider advisory and analytical services to assist Barratt in its valuation and appraisal of the Gladman business, working alongside its financial and legal advisors.
This include identifying the affordable housing, s.106 and CIL obligations on all 400 sites in the portfolio. In addition, we worked alongside legal advisors and competition economists to appraise the planning pipeline in key locations for Competition and Markets Authority purposes. Our scale of resource and network of nine offices was well suited to an instruction that required rapid mobilisation and execution of high quality appraisals of a portfolio spread across England, Scotland and Wales
Lichfields’ assistance was a significant benefit in guiding our due diligence. They mobilised quickly, across several offices nationally, providing us with a high quality and responsive service. Their advice gave the senior leadership team at Barratt vital planning insight on the Gladman portfolio and helped inform a business investment of strategic significance.
Barratt Developments PLC