Top Tips: 5 Things to Consider When Buying Land for Development
Whether you’re a start-up going into your first venture, or an established developer, the commitment to buy land for development raises similar issues to think about. 5 key things to consider: 1. Planning – unless the site is being sold with the benefit of a suitable existing planning permission, a new planning application will need to be made for your intended use. Arrange a pre-application meeting with your local planning authority to discuss your plans and identify any hurdles to achieving the planning permission you want. Attend with your architect so they can take on board any comments in their design of the development. Use the feedback you receive to inform your deal structure. 2. Access – you`ll need to know your site can be accessed via a publicly adopted highway or that there is a suitable private right of way subject to proportionate maintenance costs. Ensure that the access covers not only physical access, but is sufficient to cover services both above an...