Buying Land

Buying Land

Whether you’re looking to buy investment land for the future or development land in order to add value, we can help. Land ownership is a great investment, by conducting careful research, investors can take advantage of low property prices and purchase land that can be developed and profited from or will be worth much more given time.
What type of land are you looking to invest in?

Amenity land – Amenity land is seen as ‘raw’ or investment land. This type of land is bought with the vision that its value will increase over time.

Strategic land – This type of land is defined as agricultural or amenity land that may have future development potential. (In the next 5-20 years.) In the UK, housebuilding is falling short of the demand, owning this type of land proves great for investment purposes.

Land with outline planning – Outline planning permission means the seller has sought to establish whether the scale and nature of a proposed development would be acceptable to the local planning authority, before a fully detailed proposal is put forward. This type of planning application is an overview of a proposed development. This tells us that planning permission is very achievable and is only dependant on the full proposal put forward by the buyer.

Land with full planning permission – Land with full planning will feature a higher sale price than strategic or amenity land. This is because the development has already been packaged and is ready to go, saving you, as the buyer, time and money.

We sell & acquire for clients

 Investment Properties

 HMO's

 Vacant Commercial Buildings

 Let Commercial Buildings

 Care Homes

 Retail Property

 Offices

 Development Land

 Unconsented Sites

 Consented Sites

Be sure to consider...

The gross development value of the land. This is the end goal value of the development, the price that it would be potentially sold at, on the open market.

How is GDV calculated?
Profit = GDV – (Construction + Fees + Land)

Does the land plot meet all of your requirements?

Is the plot size big enough for the development you are proposing?

Have you taken into account space for residential parking, refuse areas, communal space and bike sheds? (If these are deemed necessary within your development proposal) Or will this space affect the number of units you can build?

Have you researched the local area of the site? What type of buildings surround the plot? Due diligence is the key when investing in land in order to create the greatest end value.

When looking to buy land you want to ensure that the landowner owns ALL of the land rights. Sometimes landowners can sell certain rights i.e., the mineral rights or the right of way. Mineral rights are the rights to exploit, mine or produce minerals or other extractive resources below the surface of the property.

With regards to right of way, make sure that there is access route to the land and it is not owned by a third party.

If you’re looking to develop the land, then owning the mineral rights is a must. Be vigilant when looking through site details and when making your enquiries.

The Land buying process

STEP 1

Find an adequate site that meets your specified criteria. Use the ‘What should you look out for,’ above to help guide you obtain an insight into viable site.

STEP 2

Once you have done your due diligence, it’s time for finding out just how achievable your proposed development is. Talk to the necessary people; the local council planning committee and your architect. They will provide you with the main answers you need.

STEP 3

Agree a sale. If the sale has been agreed on a conditional basis, both parties would have signed an option agreement. If the sale was unconditionally, an option agreement is unnecessary.

STEP 4

Instruct a solicitor. The agreement and heads of terms are now ready to be sent to an appointed solicitor. Your solicitor will usually send you, his or her terms of business, ask for your identification documents and any money on account, i.e., for property searches and land registry documents.

STEP 5

If you are buying unconditionally, then the process is now down to solicitors and you liaising with them. If you are buying ‘subject to…’ then now is the time to carry out the necessary in order for the sale to progress. This means applying for planning permission or a change of use agreement depending on the subject to contract.

STEP 5

Exchange of contracts. Once you and the seller have signed your respective parts of the sale documents, contracts will be exchanged and your solicitor will pay the seller’s solicitor the deposit. The sale is now legally binding and a completion date will be set. If you are financing, your solicitor will at this stage, request funds from your lender. If you are not financing(or the lending does not cover all sums due), your solicitor will request the balance of purchase monies from you.

STEP 7

At completion, the transfer deed (and mortgage) will be completed and the legal title in the property passes to you. Keys can then be collected.

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