With land and property values having fallen considerably, and
demand for certain land uses dwindling, landowners wanting or
needing to sell such assets are presented with the problem of
having to accept less than desirable sale prices.
The problem is particularly acute if a site has fallen into
negative equity, meaning a sale cannot even be considered. If an
individual or company is in financial difficulty this is likely to
cause serious problems and whilst a real estate asset could once
have been relied upon as a way of raising funds, the drop in real
estate values and the more stringent terms on which banks will lend
money against property mean this is increasingly no longer the
case.
However, an increase in the value of property could be achieved if,
prior to being marketed, consideration is given to whether there is
any potential for additional or alternative forms of development
which may help achieve an uplift in value.
DMH Stallard's Planning team can assist by appraising
repossessed sites for their development potential. A planning
appraisal provides an inexpensive and relatively quick overview of
the key planning issues pertaining to a property or site. It
provides advice on the prospects for achieving planning consent for
additional or alternative, and potentially more valuable, forms of
development. Our expertise and in-depth knowledge of planning
policy and the peculiarities of different planning authorities
ensures the identification of genuine development options.
Our appraisal report can be provided alongside the marketing
details for a site as evidence of the potential. Our Planning team
can also progress options through to a planning application with
the potential to secure an even greater uplift in value.
Described in Chambers and Partners 2009 as a 'group making real
waves' and 'truly on an upward spiral' the
Planning and Environment Group continues to go from strength to
strength with its unique mix of planning consultants and
solicitors. The Group now boasts eight planning consultants and
five solicitors and continues to be ranked as a Top Planning
Consultancy.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
