WE ARE often asked what properties do we have on the market which offer development opportunities and the reality is that it is becoming more and more difficult to find such properties.

This is mainly because others before you have already jumped onto the band wagon.

By development opportunities we are typically referring to properties which can be extended, converted or allow for additional property(s) to be added to the site.

You may have noticed houses with large gardens are sold and the next time you see them, there is suddenly an additional property built within the grounds.

Developers seeking such properties typically are looking for those that offer this scope which others may not have noticed.

This in effect means that if they are lucky they can purchase a potential building plot for ‘free’.

Estate agents if they are doing their job correctly should be able to identify such plots and should be advising the vendor how best to protect these future potential gains.

All too often the process of applying for consent to build within your garden can be an expensive time consuming process and vendors may not be privileged to have the time required.

So what you need to do though not necessary is a ‘pre- application’ for an additional dwelling(s) via the local authority.

Whilst this is not a definitive planning consent it does give you an indication for under £100 whether an additional unit(s) would be permitted and if so whether it would have a favourable outcome.

If the indication is that one is more likely to get consent than not if a formal application was submitted then with this additional information at hand, one can then place the property onto the market with what is called an ‘Uplift Clause’ built into the sales contract.

Or you can just do no pre-app and add the clause anyway.

An uplift clause basically states that if development is granted for additional unit(s) within the grounds then the value of the land will increase.

One then takes a figure of say 50 per cent of the increased value as a result of planning consent which is then payable to the original Vendor or their estate if consent to build is granted within say a 20 year term.

Traditionally, this has been seen with farmers’ fields on the edge of development boundaries where an acre of arable land is worth less than 10,000 an acre, yet the same field with planning for 16 detached houses will command £1 million!

As the availability of development has declined as the greenbelt is preserved, brownfield sites and large gardens have now become viable alternative opportunities.

The same principle can be applied to commercial space which can be more desirable if consent to convert to residential is granted.

To achieve this you often have to be able to demonstrate that there is no longer a liable commercial use for the building.

The conversion of large mills is a classic example, though it can also include floors above town centre shops.

With all these cases it is often a keen eye that spots these opportunities before somebody else does.

So if you think that you have a development opportunity with your own property, please do give Sawyers Estate Agents a ring on 01453 7516547 and we will be more than pleased to advise you on your options.