Land with potential is a tricky thing to look for, especially if you’re hoping to pay well below the ‘with planning’ value. It is rare for land that has genuine potential to be sold off at a figure that doesn’t reflect that potential. In fact, if land appears to have genuine building potential, but is being sold off cheaply, you’ve got to ask what’s wrong with it? You’ll find odd bits of land, some with apparent potential, being sold at auction and, to a lesser extent, through estate agents. Do be careful though, if it’s cheap, it’s probably because there are problems preventing or adding cost to building on it. Planning issues, restrictive covenants, rights of way, hidden services, poor ground conditions – the list of possible reasons is long.
Land with potential is a tricky thing to look for, especially if you’re hoping to pay well below the ‘with planning’ value. It is rare for land that has genuine potential to be sold off at a figure that doesn’t reflect that potential. In fact, if land appears to have genuine building potential, but is being sold off cheaply, you’ve got to ask what’s wrong with it? You’ll find odd bits of land, some with apparent potential, being sold at auction and, to a lesser extent, through estate agents. Do be careful though, if it’s cheap, it’s probably because there are problems preventing or adding cost to building on it. Planning issues, restrictive covenants, rights of way, hidden services, poor ground conditions – the list of possible reasons is long.