It is never too early to start thinking about whether your land has development potential, and putting together a strategy for your land.
Your land is an important asset. Whether you have surplus farm land, a country estate, large garden, grazing land and paddocks or defunct rural business land get in touch with our land team. They can talk you through possible development potential and maximising returns from your land.
There are many options open to you – and our land team can help you maximise the value of your asset. Land is the key ingredient in the building of new homes, and one of the most common questions is, how much is our land worth?
Answering that question isn’t as simple as it might seem. The development potential of any land is affected by the planning system, supply and demand, comparable sites and site specific calculations.
Obtaining planning permission can be expensive, risky and challenging and requires patience and expertise, which is where Catesby Estates are able to assist.
Once planning permission has been secured, the site is then sold for the highest possible return. We work with a range of high quality national and regional housebuilders to ensure the delivery of a residential development that complements and enhances the area and community in which it sits. Local Authorities will request mitigation measures against development. Some of these costs can be covered in the Community Infrastructure Levy (CIL) or by the Section 106 Town and County Planning Act. We are well versed in negotiating these costs on behalf of landowners to ensure all parties involved reach a satisfactory conclusion.
At no cost to the landowner Catesby Estates uses its in-house expertise and financial resources to fund the land promotion. We obtain planning permission and then market the site to housebuilders securing the highest possible financial return for the landowner. The landowner is consulted during the whole process and our return is based on a pre agreed spilt of the sales proceeds.
As land promoters we would work with you to bring forward your land under either a promotion agreement, option agreement or an unconditional purchase to suit your requirements as the landowner.
What is a Option Agreement?
An option agreement is a legal agreement made between a landowner and Catesby Estates. In return for a non-refundable sum of money, Catesby Estates has a legally binding option to purchase the land at some point in the future. This period of time is known as an “option period”.
What is a Purchase Agreement?
For landowners wishing to dispose of land quickly, an outright purchase agreement of the land by Catesby Estates can be agreed. This can be with an overage in favour of the landowners to capture the uplift in value when a planning consent has been obtained.
We work with housebuilders, planning consultants, architects and developers across the UK and can help you achieve the very best price within your timescales. If you are interested in land promotion and think your land may have development potential and would like to see its value increase by working with us, please get in touch.
Even if your land is designated as green belt, it may have development potential. Interesting statistics from the Institute of Economic Affairs:
- The size of the green belt has more than doubled since 1979 - its total size growing from 721,500 hectares to 1,634,700 hectares.
- This amounts to roughly 13% of the land area of England, and covers one and a half times as much land as our towns and cities put together.
- The designation of green belt land is not attributed based on environmental quality; rather, it effectively represents a form of 'discriminatory zoning', keeping people living in urban areas away from the Home Counties.
- There is enough green belt land within the confines of Greater London - 32,500 hectares - to build 1.6 million average-size houses. Using a tenth of that land for building could produce 160,000 new homes - a significant response to the current under-supply of housing.