Originally published on 10 May 2010
Over the last few months banks have announced record losses in
the sale of repossessed land and property. With the Council of
Mortgage Lenders predicting further increases in the number of
repossessions during 2010, the stock of repossessed properties on
banks' books, and the resultant financial losses, are likely to
grow further.
The majority of these financial losses are attributable to land or
property being sold on the basis of a valuation of its existing
use. However, greater values could be achieved if, prior to being
marketed, consideration is given to whether a site has 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.
