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Development Land Prices
grizzly1911
Posts: 9,965 Forumite
Anybody got an idea about the current land prices for residential development land close to Lincoln?
"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
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Comments
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Depends on size and specific area of course..... but PlotSearch has a numbr of plots ranging from £59K to £435K
Not sure if you can see them as I am a subscriber... http://www.buildstore.co.uk/findingland/search.aspx?std_page=1&cid=44&orderby=dateadded&orderdir=desc0 -
Somewhere between £50,000 and £1m.
The value of development is based purely on the nature of the planning permission that exists for the site. 1 acre with consent for a 1 bed bungalow is worth alot less the 1 acre of land with consent for 250 apartments.
A very very basic rule of thumb is that the land will be worth one third of the Gross Development Value (the value of the completed property).0 -
Many thanks Gwhiz and JQ.
Thanks for the link I will need to suscribe, I will think on it.
Would be looking at 1 - 2 acres with medium density rather than just a single build.
So I guess 50K acre single property upto say £300k+ acre."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Many thanks Gwhiz and JQ.
Thanks for the link I will need to suscribe, I will think on it.
Would be looking at 1 - 2 acres with medium density rather than just a single build.
So I guess 50K acre single property upto say £300k+ acre.
I'm not sure about your numbers there. My first comment was a bit tongue in cheek. I'd imagine 1 acre with consent for a single dwelling would be worth alot more than £50,000. That suggests that a brand new house on 1 acre is only worth £150,000. That would be a have to be a very very small house as an acre of land is very large for 1 property.
I should caveat my comments in that I know nothing about Lincoln.0 -
LOL I can pretty much say a new house with an acre would be a lot more than £150K!0
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I'm not sure about your numbers there. My first comment was a bit tongue in cheek. I'd imagine 1 acre with consent for a single dwelling would be worth alot more than £50,000. That suggests that a brand new house on 1 acre is only worth £150,000. That would be a have to be a very very small house as an acre of land is very large for 1 property.
I should caveat my comments in that I know nothing about Lincoln.
Don't worry it is the range I am looking at. I just know it is flat, quiet and probably lowly priced (relatively) so you have still helped."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
No worries - If you genuinely want to know the value of the site, the calculations is as follows
Gross Development Value
DEDUCT
build costs - including services etc
professional fees - planning, project management ,architect, Quantity Surveyor, Bank's project monitoring fees, etc
Finance costs
Contingency (2-5% of costs)
Acquisition costs (site) - stamp duty, solicitors, agent
sale costs (completed scheme)- agent fees, solicitors
Developers Profit - 20 to 25% of total costs
EQUALS
Land Value0
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