Things to know before embarking on property joint ventures

August 25, 2023
Private: Tariq Mubarak


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Joint ventures between landowners and developers are a hot topic in property, especially in a market that is slightly challenging. A joint venture is often an interesting and attractive prospect for many SMEs, property developers and landowners.

But what do you need to consider before you embark on a joint venture?
The main things to consider when you’re entering into a joint venture is that it’s very much like getting married. So just like you would before you get married, you go through a courting process. You need to find out who the other party in the joint venture is going to be, whether this is the landowner or the developer. If you’re going to get into a joint venture with a developer, you need to get to know them. Get to know what projects they’ve delivered, their track record and how long they’ve been in the SME property development space for. You can go and see some of their projects to see the quality of product they’re actually producing. You need to check if it’s something that you’re interested in getting involved in, because the quality of the product will determine the success of the venture.

The other thing to consider is choosing the right lawyer. In some of the transactions that I’ve been involved in, the landowner will sometimes make the wrong choice of lawyer. However, you have to engage a commercial property solicitor who has got experience with SME property development. The wrong person doing the wrong job is going to potentially make the deal fall apart. So, it’s important that you choose the right lawyer to help you with your venture.

This blog was taken from our video series, “90 seconds with a gunnercooke expert”. Tariq’s episode can be found here.

You can contact Tariq or read more about his practice here.