Building Land

kenshaz

We have recently received confirmation of planning consent for land.
We have decided to sell ,what might we expect to receive ,do developers use a rule of thumb i.e number of potential dwellings,location.for example would we expect to receive a 1/3 or a 1/2 or another fraction of the value of the final sale value of the completed development.
I realise that this might not be the correct place for this thread ,but I know that posters on this forum have direct contact and experience of estate agents.

epz_2

i wouldnt trust a developer to give a % of house price, whats to stop them selling it to a mate for buttons then selling it on, if i was a developer i wouldnt touch it either.

just set a price you think is fair and flog it in rightmove

kenshaz

Thanks is rightmove free?

homer_j_3

rightmove only accept peoples advertisements if they are bound by certain laws (i.e estate agents)

You would be best getting a few prices from agents in your area. The agent will put it on rightmove if they advertise that way

bostin

as a rough rule of thumb, the sums used to be approximately 33% land value, 33% build cost & 33% profit when appraising a site commercially. Now it's more like 40% land value, 40% build cost & 20% profit. So get on rightmove, have a look at what similar built houses are going for then look to achieve 40% of that value.....

MortgageMamma

As I'm sure you will already be aware Kenshaz there are lots of influencing factors on what land could be worth, so I would get some local EA's in and see what they say. There is also no harm in speaking to developers directly to cut out the middle man. I believe froma friend of mine who has just bought land for a campsite that there are agents that specialise in land only. I will ask him for some names.

I know you probably don't need me to tell you this but im going to anyway or i will feel I've not done you justice - never commit or sign anything without taking advice from a completely independent and suitably qualified legal representative!

Good luck and I'm interested to hear how you get on.

MM