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Robinson & Hall’s core patch lies within one of the strongest areas in the country for residential development land activity.
Lying in the centre of the Oxford-Cambridge Arc, beyond the London Green Belt and with excellent access to the railway and motorway networks, this area is easily commutable to London with good connections to Birmingham and the north. It is no surprise that considerable residential development is focussed on the counties in which we operate. We have achieved many significant successes for our landowning clients, with every expectation that this will continue.
Clearly, the housing market has been tested since September of last year with increased interest rates on top of significantly increased energy, materials and labour prices. Nevertheless, during this time we have been able to conclude four major sales, all to housebuilders who need to maintain their presence in this all important region.
As we enter 2023, sales rates are climbing again and there is increased confidence that both inflation and interest rates will come under control. While there remains a degree of caution, a housebuilder needing to hold a presence within the Oxford-Cambridge Arc will not have many sites to pursue and good sites continue to sell well.
Sale prices per acre can vary considerably but we are still expecting most sales to achieve many hundreds of thousands of pounds per acre and even in excess of £1,000,000 per acre on occasion. We are also involved in zoning land for distribution warehousing where even higher prices per acre can be achieved for the correct location.
The journey for our landowning clients usually starts with a planning appraisal. We then offer the site to a small number of professional development promotion firms with whom we have strong contacts. A promoter can be engaged to manage and fund the promotion process, usually over many years, in return for a share of the development proceeds. We oversee this process on behalf of the landowner, acting as the liaison between landowner and promoter.
Releasing land for residential development can be extremely rewarding but the pitfalls are many. It is important to assemble a strong, experienced team if a positive result is to be achieved.
For more information please contact Hugo Bryan, Assistant Development Surveyor on 01234 362894 or email hjgb@robinsonandhall.co.uk
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