How does the process work/what are the steps?
The process is the same as for the acquisition of freehold property except we may undertake some additional searches relevant to developers, for example to ascertain the whereabouts of electricity or gas installations on the site.
How long does it take?
A typical transaction may take six to eight weeks. Although if the purchase is conditional on obtaining planning permission or subject to the grant of an option to buy the land then it may take considerably longer than this.