Why would I buy a plot?
It is an alternative to traditional investments, e.g. pension schemes, ISAs and shares. As there is the potential for high returns if the land is sold or developed, we suggest an investment in property as part of a diverse portfolio.
Does the plot have planning permission?
At the time of purchase, the land will be without planning approval. We specialise in identifying suitable land that does not currently have planning permission.
Why should I buy land without planning permission?
Land without planning permission is far cheaper than land with planning permission. It is the acquistion of planning permission or re-zoning that creates the increase in land value.
Will it get planning permission?
We cannot guarantee if, or when, planning approval will be granted. However, we concentrate on Greenfield land in prime locations, in areas given priority by the Government for additional house-building.
What is the local plan, and how does this impact on planning permission for my plot?
Planning law has recently changed to make the planning system quicker and more flexible in order to meet the demand for more housing. Land will now be considered for allocation to housing development every three years rather than five, and it can now be reviewed each year.
What is an uplift?
Uplift clauses are often used in land sales, the purpose is to allow the vendor to retain an interest in the land. The advantage to us is that we are able to acquire the land at a lower price, as the vendor will benefit from any increase in value should planning permission be granted. We would point to an uplift clause as a good indication that the vendor believes in the potential of the site as suitable for house building.
What if I want to sell?
You own the freehold for the land you have purchased. Owners are free to sell to anyone they wish, including other owners, builders and developers etc. TPP will be happy to offer assistance in finding a buyer.
What is the difference between re-zoning and gaining outline planning permission?
Re-zoning happens when land is converted from one purpose (say, agriculture) to another (residential development). Outline planning permission is when a developer submits a basic plan for a housing scheme on land zoned for residential development.
Can I use my own builders, or build myself?
We do not suggest that you enter this investment with the expectation of building your own home.
If our site is re-zoned, you can negotiate with a developer to build you a house within the overall scheme design in an agreed suitable location.
A developer may be happy to do this as it would guarantee a sale and avoid them having to buy your land. Obtaining planning consent for a single dwelling on the site is very unlikely and we do not recommend you enter any investment such as this if that is your ambition.
Can I sell my parcel of land at any time?
It is your parcel of land. You own it freehold and can sell it if you wish.
Why would a local authority say that re-zoning will not happen in the near future, or during their lifetime?
Until a site is promoted to a local authority, and they have made a decision on which areas to re-zone for the future development, it would be unprofessional for them to give anything other than a view based on current policy. As the objective is to secure a change of policy (re-zoning), their initial views will normally be negative, or at best, neutral.
Do I need a solicitor to purchase land?
No. You are, of course, free to use your own solicitor, however most of our clients use our free legal service, as we prepare the contracts and ensure that the transfer of freehold is registered at the Land Registry by a solicitor.
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