As part of the continuing Land Assembly and Development Delivery partnership between the Royal Institution of Chartered Surveyors in Scotland (RICS) and the Scottish Government, the Deferred Receipt Mechanisms seminar was held in Glasgow on February 25. The event provided an update on developments since the public sector residential land development and disposal event held in June last year and addressed some of the issues raised.
Through a presentation by David Murdoch at Drivers Jonas, focusing on the results and case studies of the scoping exercise undertaken and sessions from members of an expert panel, the event identifed good and innovative practice that is evolving or being implemented.
Representatives at that event in June 2009 also requested that an issues paper be produced addressing the points raised at the meeting in detail and identifying relevant initiatives already operating. The brief subsequently given to Drivers Jonas was to investigate and report on issues arising for the public sector in adopting DRM in the disposal of heritable property assets.
This paper studies the principal mechanisms which are being adopted and considers their strengths and weaknesses. It also considers the main hurdles for owners and developers in the current market. Examples are given in the appendices of the disposal methods currently being used by the private sector together with a situation which one local authority currently have under offer.