OASIS is a private open space management company that holds a strong vision to adopt and manage public open spaces (POSs) cost effectively and sustainably in perpetuity.
At OASIS we are well aware of the current difficulties facing developers securing the adoption of POS. This is especially difficult for sites with complications regarding Sustainable Urban Drainage System’s (SUDS) and highways. It is necessary for local authorities to charge a large sum of money in order to receive enough revenue from bank interest to cover the annual maintenance cost of an open space. However, as a result of inflation, this is not sustainable and will result in future difficulties in financing the maintenance obligations in the future.
The OASIS approach resolves these issues, ensuring lower commuted sums and a future-proof guarantee. OASIS has the expertise and experience to adopt any site and to provide high quality maintenance across the board, including any specific ecological or arboricultural requirements.
OASIS incorporates smart investment strategies to produce a sustainable income that is considerably higher than the local authority can receive through bank interest. By investing in assets that generate high returns on investment, we can ensure long term capital growth, far exceeding the rate of inflation. This ensures the sustainable fulfilment of its maintenance obligations in perpetuity.
OASIS establishes independent limited companies for each site, or cluster of sites, that it acquires. The legal framework ensures that the investments of OASIS are conditional upon fulfilling the obligations of the company and cannot be disposed of. In the unlikely event of a default or failure of the management company, the assets are protected and returned to the developer. OASIS therefore ensures the maintenance obligations are underwritten by the retained value of the investment.
OASIS works with communities and encourages their involvement and use of the land. OASIS believes that through active liaison with local inhabitants, it can help in bringing communities together and ensure open spaces remain at the heart of communities.
Despite lower developer’s costs for adoption, OASIS will ensure high quality maintenance in perpetuity, including improvements and repairs to secure a cared-for appearance to the amenity space, fulfilling the OASIS vision statement and developer’s obligations as well as the all-important local stakeholder expectations.
Flexibility and Helpfulness
OASIS is flexible and helpful with the needs of developers by adopting land in sections where necessary, by allowing some space to be retained for a time for site compounds or storage, and by protecting the developer’s rights of access or future development rights. OASIS can even take responsibility for the design, planning, and construction of POS areas, and will even take them with snags and faults, making good cost effectively, thus relieving developers of the time and headaches from such issues.
Where a site is covered by a 106 agreement committing the local authority to adopt the POS, we can help in negotiating an amendment by deed of variation that will permit OASIS to adopt instead – where this is time and cost expedient.
OASIS will lobby the local authority regarding the principle of OASIS adopting the POS. OASIS will agree the specific maintenance standards with them by either preparing, negotiating or amending management plans to ensure the right level of maintenance and care are provided.
OASIS understands that the commuted sum approach is not for everyone, and so we also offer a levy system, by which non-social home owners pay an annual maintenance charge, eliminating the need for you to pay a commuted sum.
Transfer Fees and Costs
OASIS charges an administration fee of £5000 for the initial site inspection, all negotiations of the commuted sum, legal transfer and for drafting an OASIS management plan. OASIS asks that the costs of a health and safety audit of play facilities, and trees be covered by the developer, and any works necessary from the inspector’s findings, which OASIS can organise for the developer cost effectively if required.
Save time, hassle and money by choosing OASIS to adopt your POS, and thereby ensure your residual land legacy becomes a true asset to the local community in perpetuity.
For more information, please call:
(01787) 246005 or (07771) 780199.