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FAQ’s
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Your property can have a number of different values for a number of different reasons. This all depends on its potential. In order to maximise the value, generally this would mean getting planning permission to add value. There are also many different government policies that may apply to your land and increase its value, for example re-wilding, using land for solar panels, wind turbines etc. This is where our expertise is invaluable as we have dedicated staff keeping abreast of changes in government policy

This is a difficult question to answer as each property will have different planning requirements to be met. Most planning permission should be granted within 18 months, but again this depends on the property, whether or not it is in the Green Belt, AONB (Area of Outstanding Natural Beauty), zoned for re-development or not, within a village curtilage for building, what a new building overlooks, rights of light and the list goes on.

How long is a piece of string? This is a difficult question to answer as it depends upon how easy/difficult it is to get planning. Again, after an assessment we will be able to give you an idea of the costs involoved.

Obviously, selling with permission will maximise the value. There is an argument to sell with outline planning, but again this will not maximise the value. The key comes down to the following: how long are you willing to wait in order to get the best possible price for your home? If you are looking for a quick sale, there are developers out there who would be willing to purchase the property without planning permission. This all depends on how easy/difficult they feel it will be to get said permission – this is where our advice is invaluable.

A JV is a Joint Venture – this is where you hold your land/property or put it into an SPV (Special Purpose Vehicle). In effect you partner with a developer – you provide the land /property, and the developer applies and takes on the cost of planning permission and building out the property to the finished project. Depending on the value of your property beforehand, and the cost of planning/build for the developer, a percentage split is agreed at the beginning and the profits are divided up once the property is sold. This is an effective route if you do not have the funds to get planning permission in the first place.

An overage is when a buyer will pay extra on top of an agreed price, should a developer acquire improved planning permission on what was originally agreed when the property was originally purchased. There are a number of reasons this can happen, su8ch as a change in government policy.

An option agreement is where an owner retains ownership of their land/property, but signs a contract with a developer where by the developer is given a period of time (for example 18 months) to obtain planning permission. For the duration of the 18 months, the owner is contractually bound to sell the land to a developer should the developer decide to exercise that option. At the same time the developer is not obligated to purchase the land should they decide not to. Basically, the owner is giving the developer the exclusive right to buy the property if the developer chooses. This decision will be based upon what planning permission the developer manages to acquire.