Private developer

From UK Housing Wiki

Private developers acquire undeveloped land, Derelict land (Brown), Improved land (Reclaimed), and/or Existing property to redevelop, in order to construct (develop) new buildings or undertake refurbishment projects on the site. They are Commercial (private) companies as opposed to government / state run organisations (public sector).

The buildings are then sold entirely or in part to others, or retained as assets to produce cash flow via renting then out to occupiers who lease them, as opposed to owning there own. Some building developers have their own internal departments for designing and constructing buildings (more common among larger developers), while others just subcontract these works to third parties specialists (typical of small developers). They they can arrange for and finance the actual building work or just design the scheme then sell the site on with the planning permission in place, as the Site will be worth a lot more. They often trade schemes with other developers, to balance there work load or operate in partnership (Joint Venture) to reduce risk / and funding requirements. Larger schemes are often created by several parties joining their land together to form a large block that can be redeveloped in as one large project. Often Councils and Local Authorities are involved in these schemes to regenerate run down areas of towns, with the help of Government funding.