We use some software tools to assist us in the evaluation of the feasibility of prospective property developments, and for site evaluation before property purchase.
In order to do this, we usually need some basic information such as the postal address of the property including the post code, as a bare minimum.
With this basic information, we use the following software packages to help us to evaluate the development potential of any site.
Regarding the definition of a site, this could be a single freehold, or it could be a site assembly, being a number of freehold sites.
Leaseholds present on freehold sites can be relevant because if you can control the freehold as well as the leaseholds on that property then you may be unrestricted in what development you can undertake, subject to obtaining the necessary planning permission(s) to carry this out.
1. Searchland:
This is a software tool that essentially allows a subscriber to find relevant Information and use it to assess any particular site anywhere in England and Wales for development potential For Your Next Land Development Decision. Access The Relevant Databases.
Searchland shows you a graphical representation of the plan of any freehold site within any geographical area within the United Kingdom.
Here is a screenshot from Searchland which shows a plan of a recent site that we investigated, that is not on the market.
We learned from the Searchland database that the current owner had recently applied for planning permission to instal a large number of bedsits under the existing Use Class as a Specialist Care Home.
The planning permission for that recent upgrading had only recently been obtained so we knew that it would be extremely unlikely that the current owner would want to sell that Property Development, since they clearly have plans for its development under the existing Use Class.
2. Property Data: ( Property Development )
Property Data is another software that we regularly use for evaluation of the existing value of the site or Property Development, and also for the evaluation of the development potential of any site.
Property Data does not give you a map of the site, unlike Searchland, but it does allow you to calculate the development potential and the feasibility of Property Development any site, by inputting all the relevant data.
Thus, without having any drawings or concept design at this stage, we can evaluate the likely Property Development costs associate with either a new build or a refurbishment of buildings at an address. This included being able to evaluate the Gross Development Value of either the refurbished building, an extended refurbished building, or demolition of the existing building and reconstruction of a new building on that site.
In addition to those options, we can also choose the specification or grade of development that s planned on the site, from the cheapest possible up to the most luxurious specification.
Thus we may be able to deduce the level of specification most appropriate for the development of a site in that location.
Working back from the Gross Development Value (the optimum one) and deducting all of the relevant costs within Property Data allows us to establish a site value that reflects all of the costs and the optimum value of that site.
Here is a typical calculation from Property Development Data, which gives an indication of its capabilities, and why we use it for evaluation of most of our prospective sites before we get into more detailed and accurate assessments.
Why You Should Sell Your Property To Alpus
For reason that Alpus can evaluate the development potential of your site and give you the optimum site value, you should consider talking to Alpus before selling your site to someone else.
Additionally, Alpus has overseas investors who are always interested to purchase quality properties in the UK to hold as investments. Talk to us before you sell your Property Development for less than you may be able to achieve by selling to use.
Alpus will always give you the best possible market price for your property or site.
For a no-obligation discussion about your site, whether it is residential or commercial or mixed use, or even if it is land without planning permission call us and discover how we can help you to achieve the best possible price when selling your site or property, call Alan on 07539141257 or 03332241257, you can schedule a call at calendly.com/alanje or you can drop an email to alan@alpusgroup.com.