Development land value?

jblessing

Does anyone know the likely (ballpark) value of 7 acres of land on the edge of a Hampshire coastal village. The land has recently been included in the new local development plan

Thanks

chucknorris

No one can answer that question, the value of a land is a residual calculation which entirely depends upon what it has planing permission for, for example here is a very simplistic land residual calculation (a more accurate calculation would consider more variables, but this will give you the idea:

Gross development value (total value of the finished development)

Less:

Construction costs
Professional fees
Acquisition costs
Finance costs
Marketing costs
Developer's overheads and profit

= highest possible bid for the land

EDIT: So you need to find out what planning permission is likely to be granted, and where the exact location is.

Doozergirl

More than £1 million an acre.

Presuming land is worth more there than it is where I am.

Any advance?

ging84

There can be a very big difference in value in Hampshire.
Boroughs of Havant, Eastleigh, Fareham and Gosport are fairly cheap for the south coast, some areas very cheap.
As you move further away from the densely populated metropolitan area, there rest is quite expensive, with some parts of the new forest being very very expensive.