As the UK faces a long-term housing shortage, land with potential for development has never been in higher demand. But not every site will attract developers or secure planning permission. Below, we explore the three most important indicators that your land could have development potential, and how best to assess them.
1. Location
The old adage 'location, location, location' has never been truer. If your land is close to or bordering an existing settlement, then it is more likely to have development potential. Sustainability sits at the heart of the National Planning Policy Framework, so sites that are near to transport links and local amenities could strengthen the case for housing in the area.
Proximity to local amenities such as schools, shops, employment and public transport means future residents are less reliant on their cars, which is exactly the kind of sustainable development that planning policy seeks to encourage. Therefore, land on the edge of a town or village will generally be viewed more favourably than more isolated sites in less sustainable locations.
Many areas are under pressure to deliver new homes due to historic under-delivery, so these areas are more likely to have development potential, as Local Authorities seek to meet significant housing targets. Where a council is struggling to demonstrate a sufficient supply of housing land, the case for well-located sites becomes stronger still.
2. Unconstrained access
Your land may be located in a high-demand area where there is a housing shortage, yet the key to unlocking a potential development site is having sufficient access. Issues to consider include whether there is clear ownership of access options, any third-party rights that may restrict access, sufficient visibility splays within the ownership, and capacity within the existing road network to support the planned quantum of development.
Access is one of the most common reasons a potentially promising site fails to progress. A parcel may look ideal in every other respect, but if a safe and deliverable access cannot be achieved, its development potential is severely limited. In some cases, additional third party land may be needed to create a suitable access, which can have a significant bearing on value and deliverability.
We can quickly provide an opinion on whether access to your land will support development and advise on any steps that may need to be taken.
3. Minimal constraints
Aside from access, other physical and environmental constraints can have an impact on development potential and value. These can include flood risk, contamination, archaeology, protected habitats, topography, access to utilities and landscape designations.
Some constraints are absolute and will rule out development altogether, while many others can be designed around, mitigated or overcome with the right strategy. The earlier these are identified, the better, understanding them at the outset avoids wasted cost and can help shape a realistic view of what the site can deliver. A clear and quantified picture of the constraints also gives developers confidence and reduces the risk priced into any offer.
We can provide a high-level constraints appraisal to help inform development potential, alongside advice on how constraints can be mitigated, as well as a strategy to derisk the site, making it more attractive to developers.
Get expert support from our land experts
While this is a concise summary of appraising land for development potential, a number of factors need to be considered, requiring planning insight, knowledge of title issues, technical understanding and market expertise.
At Newton LDP, our land promotion experts can provide a clear and thorough assessment at the outset. We help landowners understand their options and identify the full value of their land, providing a clear roadmap of the journey ahead.
If you have land which you believe has development potential, one of our experts will be able to independently guide you through the process, enabling you to make informed decisions with confidence. Don’t hesitate to get in touch.