Several years ago a developer offered to buy our property and those of our neighbours for a substantial sum of money. However one of the neighbours refused to sell and the offer was withdrawn. We now want to move, but we may lose out if the neighbour changes his mind.
You can register a covenant at the Land Registry which will allow you or your dependants to benefit from any future development on the site. However this will inevitably reduce the likelihood of any development taking place, since the people you sell to will have less incentive to make way for the developers if they have to share any pot of gold with you. Alternatively you can keep your stake in the property’s development potential low, but your windfall will inevitably be reduced. Discuss it with a solicitor.