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Top 5 things to consider when assessing a property development sites viability

News

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.

Access

If you don’t have access to a site, if you’ve got no right of way over it. How are you going to get on there? It’s walkaway time. It’s going to kill it. Really important that you check out what you’ve have and what you don’t have.

Flood risk

What flood risk zone you’re in. They are zoned one to three. Zone one is the least likely to flood, zone three is most likely to flood. Not saying that you can’t do a project in zone three, but it’s worth being aware of because there’s a whole heap more work that you need to do. So, check out what area you’re in for flood risk.

If you have a site and need to know what zone it is in please see link below, all you need is the postcode.

https://flood-map-for-planning.service.gov.uk/

Planning history

Go to your local authority portal it doesn’t matter what area of the country you are in they’ve all got them. You can search and have a look at has it had any applications in the past? If so, what for? What was the outcome? It’s just great information. There may be some things that appear that would be a bit of a warning sign for you and there may not, but it’s worth checking.

TPO’S (Tree Preservation Orders)

Does it have any? Two reasons really. One, you can’t cut them down. You’ll get fined quite heavily for chopping a tree down that’s got a TPO on it. And they’re quite difficult to get moved, so if you’ve got them on the site, it’s not an out and out showstopper, depending on where they are. But again, it’s just something to be aware of.

Site Designation

Is it greenfield? Is it brownfield? Is it greenbelt? Is in a conservation area? Again, you need to be aware of these things because they will all influence what you can and can’t do.

 

If you are looking to find out more about property development, we have just the thing for you.

 

Click the link below to receive the 6 pillars of property development, this is a free series that will take you through the 6 pillars and how to avoid costly mistakes.

 

https://mailchi.mp/elementfinance/6pillarssignup

 

Element Finance provides free impartial advice. If you are interested in raising finance please do not hesitate to contact us on 01454 318339.

Email: info@elementfinance.co.uk

Website: www.elementfinance.co.uk

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