Section 106 Agreements & Planning Obligation – Guide for Property Developers
If you are an experienced property developer then you’ll be all too familiar with section 106 agreements, also known in property circles as planning obligation. If however, these are unfamiliar terms and you are currently considering commercial property development or redevelopment opportunities that fall under the Town and Country Planning Act 1990 then you’ll need to get up-to speed… and quickly.
Section 106 agreements or planning obligations form a specific part of the Town and Country Planning Act 1990 and although it isn’t the largest section of the Act, it does play an important role when it comes to planning law.