How To Make Money With UK Planning Permissions
The United Kingdom presents a great deal of opportunity for investors looking to make quick returns on real estate investments. With the right planning permissions in place, brownfields can be purchased and developed into attractive properties with high resale values. These profits are passed along to the investors, who often go on to complete additional developments with planning permissions in place.
The first thing to consider when exploring UK planning permissions and brownfield developments is the land itself. Investors will want to have all the appropriate surveying and analyzing of the property completed before making an offer to purchase the brownfield. Should all surveying results be favorable, the investor will likely choose to move forward with the purchase.
Perhaps the most critical component of all United Kingdom investment properties is the planning permissions. These permissions are secured by the local governing and planning authorities, and they determine for what purpose the property can be developed. Without the necessary planning permissions in place, brownfields cannot be developed. Without development, investors are unlikely to see any returns on their initial investment used to purchase the property.
For instance, a brownfield with residential planning permissions is far more desirable than a brownfield with industrial planning permissions, given the current state of the real estate market in the United Kingdom. There is a dramatic housing shortage, and land developed for residential use will likely have a high resale value. Therefore, the investor’s profits will likely be greater.
So how does one secure the necessary planning permissions? Property owners must file the appropriate paperwork with local authorities and then wait for their review. Ultimately, the property will either be granted the planning permissions requested or in some cases, the property owner may have to make adjustments and file for the permissions again. In most cases, the desired planning permissions are relatively easy for investors to secure.
Once planning permissions have been granted, the brownfield property can then be developed for the use specified within the permissions. Again, residential planning permissions typically offer the highest return, so properties will often be developed into residential areas. This may include single family homes, flats, apartment complexes, or any other combination of living styles.
For the right investor with the right planning permissions, purchasing and developing land in the United Kingdom is a great short-term investment opportunity. The demand for housing is high, and is unlikely to lessen in the coming years. Many investors are involved in numerous projects, ensuring that they almost always have land under development and nearing completion. The profits from one sale then serve as the funds used to purchase and develop a new and different tract of land. This process can be very attractive to investors, who often see high returns with each completed project.