If you're struggling to find land for development (with or without planning permission), or want to leverage someone else's time working out comparables to accurately calculate your GDV, we can make your life a lot easier.
Land for development
Finding potential development land can be difficult and extremely time consuming, and even when you’ve spent your valuable time carrying out your research and found a plot that appears to have potential, the owner simply may not want to sell, making you feel like your time has been wasted. This is where we can step in and do all the background work for you, freeing up more of your valuable time.
We provide a service that will find leads for potential development land for you in your particular area that meets your requirements. For your specific area we will supply a set of reports containing potential development plots with all the relevant information you may need. This will then allow you to jump straight to the stage of contacting the owners directly to understand what their intentions are and if they would be interested in selling the plot or working with you in a joint venture (my preferred approach). Each report on an individual plot of land will contain:
- Address, size of plot, local authority and current use class
- Google map and OS map of the outlined plot
- Ownership details – name and address
- Last known valuation (if available)
- Planning overview including the number and a list of recent planning applications nearby
- Potential constraints (greenbelt, AONB, flood risk, SSSI, nearby listed buildings, common land)
- Comparables data (showing pounds-per-square-foot information for all property types on sold properties nearby)
- Nearby building heights
- Land Registry title & plan
To view an example of a land report, please click here (opens in new tab)
The GDV of a development of any kind is largely reliant on accurate comparables data to calculate an average pounds-per-suare-foot resale figure (which can also be combined with estimates from estate agents to give a ‘high’ valuation). The most common way to calculate this is to find the sale price for similar properties nearby by trawling sold prices on Rightmove or Zoopla, then going to the EPC register website and entering the address and then finding out the internal area for that property to be able to calculate the sold price per square foot. This needs to be done for as many properties as possible to give the best averaged data (which is still out of date as it may not be a recent sale), which can take several hours when using a reasonable sample size.
We can provide all of this information to you in a data pack that will save you many hours worth of effort for every development you may undertake.
The comparables data pack provided will contain the following information on recently sold properties in a designated area:
- The property type (detached, semi, flat etc.)
- The number of bedrooms per property type
- The average pounds per square foot / metre for each property type and bedroom count according to Land Registry sold data
- The estimated current market value per square foot / metre using Land Registry sold prices linked to the UK House Price Index
- The number of properties used in each sample size (the greater the number the more accurate the result)
- The full list of all properties included in the comparables search (including full address, number of bedrooms, sold price & date, internal square footage)
To view an example of the comparables data pack, please click here (opens in new tab)
For more information and to discuss your requirements and how we can help you find the right plot for your development, or take the pain out of your comparables research, please don’t hesitate to contact us.