Development

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    Development

    Hello all

    My parents have a warehouse and we have design plans for 6 x 1 bed room flats. The development is in north london, where the area has a value for £200k for a one bed room flat (Old properties). Would a developer be generous in making an offer for a development, or would it be better to develop the properties ourselves?

    #2
    Developer would base an offer on whether or not you have already got planning permission. Have you?

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      #3
      Not yet, but i will. I read somewhere that there is virtually a small margin between the price of selling a detailed planning permission, and developing the property yourself. We know very little on property development, i myself have a civil engineering degree and know some stuff about property market. I just feel as if a developer would purchase the development with the plan to make luxury apartments.

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        #4
        Probably. Most developers would buy the plot and then apply to tweak the consent to get more gross profit out of it - a pretty natural thing to do.

        Make sure plenty of buyers see your sale details and take the best offer. Unless you are experienced in developing or want a really stressful challenge take the money and run is my advice.



        Freedom at the point of zero............

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          #5
          I work in north London am aware of the issues...Be sure that you comply with planning policy then do a viability assessment. You can bring developers in at this stage or later on. If you need any help just call us...Regards, PETER

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