If you are interested in property development or are new to the world of property and new build developments, the following will offer some insight into the skills required and some of the Key steps you will need to take to become a successful property developer. But, before we dive right into this topic and give you some hints and tips, we should first explain what it is. What is property development?…
In the late 1980’s small house builders were responsible for 40% of new homes compared to just 12% today. Between 2007 and 2009 one third of small companies stopped building homes. If we returned to the same number of house builders that were operational in 2007 it could boost housing supply by 25,000 homes a year. This boost in numbers would greatly aid the widely publicised shortage of UK housing. Yet it is not just…
What is a Section 106 Agreement? Section 106 (S106) agreements, which are also known as planning obligations, are legal agreements made between local authorities and developers. These section 106 agreements are designed to address issues that new developments may place on local infrastructure. The agreement will vary depending on the nature of a development, but will typically address issues such as: • Affordable housing • Highways • Education • Public open space • Town centre…
When assessing the viability of a site, we’re actually looking for things that just going to kill your Project outright. So, things that are out and out show stoppers. Property development sites Access If you don’t have access to a site, you’ve got no right of way over it. How are you going to get on there? It’s walkaway time. This will almost certainly kill it. Really important that you check out what you’ve have…
There are many things to consider when planning a development project. Clearly how to finance it is one of the major considerations. There are many options available including using your own funds, private investors or external finance. There are pros and cons to each of the options, however by choosing to take finance from a lender you may be able to undertake a larger project than your own cash would allow. It may also enable…
