property with land

saraphina

Hi there. I wondered if anyone could advise me. I am currently selling an end of terrace 2 bedroom house in Medway Kent. It has a 15m wide plot at the side that I have been told may be big enough to build another small cottage type property. I have not looked into planning permission but cannot see any reason why it could not be granted. I would appreciate any advice on ways to market the property with this in mind. Ive just put the property on the market with an estate agent who feels that the large garden area to the side of the house may be a 'selling' feature, but is not going to add value to the property. any ideas gratefully received.

p:)

Doozergirl

Without planning permission, the estate agent is right.

With planning permission, the land is worth up to a third of the value of the house you have permission for. You're selling yourself way short if you don't at least research the possibility of Planning Permission. Our local council holds planning surgeries where you can turn up and talk about your ideas and see whether they would be positive. They won't give you anywhere near a straight answer, but an architect that knows the local area will be of help too.

whambamboo

saraphina wrote:

Hi there. I wondered if anyone could advise me. I am currently selling an end of terrace 2 bedroom house in Medway Kent. It has a 15m wide plot at the side that I have been told may be big enough to build another small cottage type property. I have not looked into planning permission but cannot see any reason why it could not be granted. I would appreciate any advice on ways to market the property with this in mind. Ive just put the property on the market with an estate agent who feels that the large garden area to the side of the house may be a 'selling' feature, but is not going to add value to the property. any ideas gratefully received.

p:)

yep, you apply for planning permission. Might cost you a couple of thousand, when you get it you sell it separately from the house.

Otherwise worth nothing.

claireandella

I can advise that, for less than £300, you can apply for outline planning permission which should dramatically increase the value of your property. I have done this several times and I am amazed that your estate agent has not encouraged/advised you in this regard. Assuming that you haven't forgotten to mention a major problem with your site which the agent is aware of (!), applying is very easy and you don't require an agent or architect to act for you.

I suggest that you phone your local Council Offices (or go to Planning Online webpage) and obtain a set of planning application forms. Fill these in and attach an Ordnance Survey plan showing your existing house and garden outlined in blue and the proposed plot in red. I suggest that you also download the fee sheet as you will need to attach a cheque with your application forms (incidentally the number of sets of forms varies from authority to authority but 4 photocopies of the filled in form and the map should suffice).

By applying for outline permission you are effectively establishing the principle of development and any purchaser can then apply for 'reserved matters' (ie the design, access, drainage etc.) themselves. A site with full permission (ie approved architects plans etc) will be worth more but, from what you've described, this would be an expense and delay that you can avoid whilst still increasing the value of your property.

The downside is that the process takes 6-8 weeks on average and, if refused, a purchaser may be deterred if they wanted to carry out similar works. If refused you do get another 'free' go within a year and you can appeal which is free (but takes a while as the Inspectorate have a backlog). If you decide to go ahead and would like any advice, just ask

never_enough

If you do apply for planning permission (which I would do) be aware that the thought of building works *may* reduce your house selling price slightly. Obviously you will then make money on the potential site, but it may take time.
Maybe a chat with a planning officer to see what they think is a good idea?

linlin_3

Tell your solicitor that when you sell you want a covenant included stating that you will benefit by x percentage if the land is developed.

saraphina

Thank you all for your helpful comments. They are most appreciated. I had a nagging feeling that there could be potential in the property, with your advice I can now explore.

Thanx once again.

A very happy and motivated p :j

saraphina

Just another thought. Assuming planning permission or outline planning permission is granted, does anyone have any ideas on where to market. Should I stick with the estate agent or go to auction??

p

never_enough

You can market through an EA, some have seperate land sales depts. Or there was a selfbuilders website that had plots for sale can't remember what it was called but it was tied into a magazine I think. Never enough plots in built up areas & the Medway area seems to be popular.
Whilst as linlin says it is possible to have a covenant put in place by your solicitor on the sale of the land if you dont go for (or can't get) planning permission that may make it harder to sell too. I wouldn't touch a plot with one of these in place. I think they're called uplift clauses & often seem to last for ridiculously long periods of time (20/25 years)

Llyllyll

You can market your plot here for £40. Can't tell you what they're like as I only use the site for looking for plots to buy for a self build - and it's quite good for that (although not found a suitable one yet).

Not sure how the price/marketing would compare to your local EA though.

Hope this helps.

mike3000

Use plotfinder.net its free