In the part of the world where we live, we’re lucky enough to be surrounded by fields and land. Properties that come with land in Lancashire and Cumbria are not uncommon and agricultural land is often passed on through the generations, even if it is no longer used for farming purposes. Sometimes, land is owned by organisations, and in these circumstances, the land is often under-utilised.
In some cases, owning land can even be a burden, with the cost of maintenance outweighing any day to day benefit.
But in this day and age when housing still remains in short supply and land is constantly being sought for development opportunity, that field that you own may just be an extremely valuable asset.
The question is…how do you find out?
The first thing a landowner may know about the potential value of their land is if they approached by a developer who expresses an interest in acquiring the land for development. At this stage, the landowner may not have undertaken any investigations into selling their land, and is therefore unlikely to have any idea of its real value.
Seeking advice and representation from a land consultant can help to fill in the gaps and inform landowners where they stand. In the initial stages, this may often involve a viability study, which identifies the possible opportunities that are available and the likelihood of securing planning consent for housing / development.
From here, where it has been confirmed that land has development potential, the opportunity to extract significant value becomes a very real possibility. Our land and development team will then work with landowners, advising on the best way forward to maximise the ultimate sale price.
Lea Hough has a team of Land and Development specialists that have a strong track record of working with landowners in Lancashire to help them realise the most potential for their land.
Led by Phil Mussell, our team provide strategic advice to a range of clients, ultimately helping them to achieve planning permission and unlock significant value from land with development potential.
For an initial discussion or if you have been approached about selling land and would like advice on what to do next, please get in touch.