- Location, Location, Location!
– Look for areas with growing infrastructure – new schools, hospitals, or public transport links. (These are strong indicators of confidence and demand)
– Check for nearby amenities like parks, shops, and transport links.
– Do these reflect your end users requirements (e.g.. families, young singles etc). - Local Market Trends
– Research local property trends. Does the market best suit build to sell (BTS) or Build to Rent (BTR)?
– Consult local estate agents and other developers for a deeper understanding.
– Review recent sales prices and rental yields to confirm their advice. - Understand the Planning Permissions
– Understand local council planning policies, read the Local Plan. Are you in a green belt or conservation area? Knowing this will save you time, costs and frustration!
– Local plans are always available on the local council’s website.
– Seek advice from an experienced planning consultant or pre-application advice for complex developments. - Land Condition & Topography
– Assess the land’s condition, including soil type, drainage, and topography. Building on flood-prone areas or steep slopes can be costly and may put off buyers!
– The UK government’s flood maps or Nimbus (nimbusmaps.co.uk) provide essential insights.
– You will need to budget for various surveys (for example a ground investigation and topographical survey). - Utility Connections
– Ensure the plot has access to utilities like water, electricity, gas and drainage. Lack of these can significantly impact your costs and timeline – check with local providers.
– If the site is not served by public drains, is there potential to install a package treatment plant, and where can it drain to? Proximity to existing utilities saves time and money!
