Many people own land associated with their buildings, commercial, and residential – most do nothing about it. Yet demand for building plots has never been higher. If you own such an opportunity, here are some things to think about.
Large Gardens: Fashions have changed, making the maximum use of established residential areas all important. Some basic questions apply. Would a residential dwelling fit on the land? Is there independent access? What is the visibility like for a new vehicular access onto the main road? What type of dwelling might be appropriate? Are the properties immediately surrounding single storey, double storey, or higher? Would a new dwelling obviously adversely affect the light, privacy or amenity of surrounding properties? If you are positive about most of the aforementioned – we would be pleased to come and professionally appraise the opportunity for you.
If there is an opportunity, you will want some advice on how best to sell it. Do you sell it subject to planning, with outline consent, or detailed consent?
The advantage of selling it subject to planning is that you incur no architects or planning costs. The disadvantage is that the purchaser may factor in the worst case scenario in making an offer.
The advantage of an outline consent is that you have established the principle of residential development, and offer the buyer some flexibility in being able to put in a detailed consent for what they want to build.. The disadvantage is that you will have incurred some planning and architects costs- and a buyer will still need a detailed planning consent which will take more time.
The advantage of a detailed consent is that you have an “oven ready” product. Its value clear and maximised. The transaction clean. The disadvantage is that you will have incurred planning and architects fees, and the detailed consent may appeal to some, but not others.
We are pleased to advise you on the route that best suits your circumstances, and can recommend professionals who can assist you with planning/ architects work if required.
For more information, and an appointment for us to visit you, contact:
Gary Longden, Hannells Land and New Homes, 07920 553960.