Require a Valuation?
Land acquisitions and disposals are our everyday activities and prevailing land prices are second nature to us. Contact Tom Rankin on email@example.com
For short term land, if land has planning permission then we can arrange for a valuation on the basis of the existing consent.
If your land has longer term or ‘strategic’ potential where there is no development allocation in the Local Development Plan Link to Planning, then there are various options. Structure of a land sale is different for this type of site.
RECENT EVENTS HAVE THE POTENTIAL TO BRING FORWARD STRATEGIC LAND MORE QUICKLY.
We can advise on the various ways of securing best value.
Please also see our Looking to sell land section. We have more comment in our Blog section for methods of valuing land.
A House builder may approach strategic land on an ‘Option’ basis.
Alternatively, a developer or promoter will likely approach the site purchase differently on a ‘Promotion’ agreement basis. It is important to understand the difference.
Under both an ‘Option’ agreement or a ‘Promotion’ agreement, it may be 2- 5 years or more before the actual land price is agreed. But the land value prevailing at today’s values is still important to know. With our experience and market intelligence we can input on this.
A Party enters into a conditional contract or missive (as in Scotland) to buy land in the future once Planning Permission & other stipulated consents have been received by them are purified such as Roads Construction Consent . A percentage of the market value is paid at the conclusion but the party may not be committed to buy the land.
This is more commonplace in today’s market. It is used where a developer or promoter acts on the land owner’s behalf effectively and enters into a binding legal agreement or missive / contract to promote the site and obtain planning permission in principle and thereafter obtain best price through approaching several housebuilders who then bid for the site. The land owner then receives a current market best price.
We can advise in either case. Please look at the Looking to sell land page for a wider explanation.