catcarraccoo
Registered User
- Messages
- 12
Wondered what advice could be given to us regarding making the best profit from our land.
In the coming months we (myself and 4 siblings) will be awarded rougly 15acres of farm land in a settlement.
Naturally we will have our solicitors-barristor-accountants-engineer- valuers fees to be paid (wow typing all that is scary!!)
What are our best options?
I've spoken with the Planning dept and they say that in order to get planning permission they require that the applicant has a local and/or work need. That is that they are from the area, wish to build and live in the area or that they are working locally. She did say that this is 'generally' the case. There seems to be no direct objection to a site other, re.road frontage, water drainage, etc not that we have even gone through the whole criteria; so she said an application may be made but the applicant is often, if not in all cases, made to sign an contract stating that as such we intend to live on the property (perhaps a staying clause?) and also a 'sterilisation' agreement which means we could not make a further application for planning on our land for the following 10 years.
So my questions are:
Would we be best selling the land as farm land?
Would it raise the price of the land if we were to obtain outline planning permission?
Would we come up against the same or similar restrictions for an outline plan application?
Renting of the land I imagine would not yield us a good return, especially when we consider that any gain will need to be divided among 5 of us.
How do we find out if any developers may be intersted in buying the land from us?
How do we find out if there could be any potential overseas buyers who may be interested in buying?
By getting the best return on our land it would benefit considerably the lives of 5 sibling and our children.
Thanking you for reading through all of this and for any advice that you may have.
Cat
In the coming months we (myself and 4 siblings) will be awarded rougly 15acres of farm land in a settlement.
Naturally we will have our solicitors-barristor-accountants-engineer- valuers fees to be paid (wow typing all that is scary!!)
What are our best options?
I've spoken with the Planning dept and they say that in order to get planning permission they require that the applicant has a local and/or work need. That is that they are from the area, wish to build and live in the area or that they are working locally. She did say that this is 'generally' the case. There seems to be no direct objection to a site other, re.road frontage, water drainage, etc not that we have even gone through the whole criteria; so she said an application may be made but the applicant is often, if not in all cases, made to sign an contract stating that as such we intend to live on the property (perhaps a staying clause?) and also a 'sterilisation' agreement which means we could not make a further application for planning on our land for the following 10 years.
So my questions are:
Would we be best selling the land as farm land?
Would it raise the price of the land if we were to obtain outline planning permission?
Would we come up against the same or similar restrictions for an outline plan application?
Renting of the land I imagine would not yield us a good return, especially when we consider that any gain will need to be divided among 5 of us.
How do we find out if any developers may be intersted in buying the land from us?
How do we find out if there could be any potential overseas buyers who may be interested in buying?
By getting the best return on our land it would benefit considerably the lives of 5 sibling and our children.
Thanking you for reading through all of this and for any advice that you may have.
Cat