In some areas across the UK, the demand for land on which to build has never been higher. If you have some desirable land that you’re considering selling, you might be sitting on a goldmine.
The land development experts at Bruckland Developments have put together some of their top tips for selling land for development.
Land demand is back
There was a period of time when land demand declined, due to the COVID-19 pandemic and the several national and regional lockdowns that halted life as we knew it. Now, however, land is once again in high demand due to the UK’s ongoing housing crisis. Councils and developers are actively looking for essential development, which may put you in a great position to take advantage of the commercial opportunities.
Understand the type of buyer that will be interested
The type of buyer that purchases land is very different to those that buy houses. The kind of land you’re selling will determine the kind of buyer, their goals, and their circumstances. Some buyers will be seeking land to build homes on, while others may be hoping to use the land for commercial reasons. If you have an idea of the land’s potential, then it will make it easier to find the right buyer as you can begin to target a particular group.
Maximising the value of the land
Generally speaking, the value of the land is only the amount that the developer will pay, and this is dependent on how much money they can make from it themselves. Understanding what you can do to maximise the value will ensure you get the best deal for yourself.
For example, agricultural land has increased value from the produce that can be farmed and sold. Land with planning permission for residential development has value based on the financial return of selling each house. You should work with the industry experts to determine what value your land has and how you can maximise it.
Selecting the right agent
Finding an agent with plenty of industry experience that you trust will make selling your land significantly easier and less stressful. When selecting the agent, research and ask around for recommendations to find the perfect fit for you. Once you have narrowed down a list, you can compare them on a point by point basis.
Many agents will offer free initial guidance on whether your land will be of interest to developers. You can use this as an opportunity to get to know your shortlisted agents and base your decision on the experience and feedback you receive.
Selling it “as-is” may be more cost-effective
You might think that enhancing the land you own with buildings and other improvements will make the land worth more on the market, but this is not always the case. While this can be true in some cases, there are many times when such improvements can become financial burdens on the seller without adding as much to the market value.
This is particularly relevant to vacant land, where your potential buyers could have different expectations and understanding of what is desirable and attractive to a mainstream home buyer. Therefore, investing too much money and effort into a piece of land isn’t cost-effective, and it’s better to sell it as it is.
Bruckland Developments are actively looking to acquire land that is situated in the southeast of the UK, in desirable locations suitable for residential development. Whether you are a company disposing of land, an agent, or an individual selling a plot, we are interested in working with you!
Alternatively, if you have land that you are looking to develop for a personal project, our expert team can advise you on your options. We can assess the potential that any land offers for development and can guide you through the planning and development process from its start to completion.