Understand the planning status
Outline consent fixes the principle of development; full or reserved-matters approval fixes the detail. Sites marketed with 'development potential' and no application are speculative — price them accordingly.
Gaffbee Commercial · Land and development sites
Residential and commercial development plots, brownfield sites, paddocks and strategic land — with size, tenure and planning status where known.
Land value hinges on planning. The same field can be worth a few thousand pounds an acre without consent and many multiples of that with residential permission, so establish the planning position before anything else.
Outline consent fixes the principle of development; full or reserved-matters approval fixes the detail. Sites marketed with 'development potential' and no application are speculative — price them accordingly.
Access, services connections, ground conditions, contamination, drainage and ecology surveys routinely add cost on brownfield and greenfield sites alike. A residual appraisal should deduct these plus Section 106 or CIL contributions before you set your bid.
Not every land purchase is unconditional. Option agreements, promotion agreements and contracts conditional on planning share risk with the landowner and are common on strategic sites.
Agricultural land is typically valued per acre on its farming use, which is a fraction of residential development value. Hope value reflects the chance of future consent and is highly location-specific.
Local authority and planning history, drainage and water, environmental and contaminated land, mining where relevant, plus access rights, easements, restrictive covenants and overage clauses in the title.
A clause requiring you to pay the seller a further sum if planning consent or a value uplift is achieved later. It runs for a fixed period and can materially change your appraisal.
Non-residential and mixed-use rates apply to most bare land in England and Northern Ireland: nil to £150,000, 2% to £250,000 and 5% above. Land forming part of a dwelling's grounds can be treated as residential.