5 exciting offices in Acton - London
Acton is a popular residential area of West London that sits in the London borough of Ealing.
Getting the inside track on the planning process can help you turn undeveloped land into a high value investment
Investing in and developing land can be one of the riskiest yet most rewarding endeavours in the commercial property space. If you get it right, land is one of the most lucrative commodities to be in. According to the Valuation Office, the average price of agricultural land in England is £21,000 per hectare. However, land with planning permission goes for around £6 million per hectare. So, the key to investment success is to transform land without planning permission into land that comes with it. Once land is changed from a field to a building plot, its value soars.
However, gaining planning permission is a process fraught with the potential for setbacks and even failure, all while significant money needs to be invested long before any revenue can potentially be earned. Given these risks, developers must be extra vigilant to try to identify, anticipate, understand, and plan for various problems that can occur throughout the process.
In this article, we’ll provide a broad overview of the planning permission process, look at the most common reasons planning is refused, what your options are if it is, and outline how to achieve planning permission success.
There are two forms of planning permission – outline and detailed.
This is the usual route:
Common reasons that planning permission is denied include:
You can’t be rejected for planning permission based on:
If your planning permission is rejected, it doesn’t mean your project won’t happen, nor does it have to mean paying out extensive fees to get it overturned. Some planning officers may tell you in advance if your build will face rejection, particularly if it’s over a minor point. In this scenario, they might allow you to amend your designs so you can get planning approved.
If permission is denied outright, it could be worth employing a planning consultant to manage your appeal (see next section). If you take this route, you can also re-apply without paying a fee to the council. The redesign should take into consideration the reasons for refusal and look to counter these. The council offer a free resubmission service, as long as this is undertaken within 12 months of the decision of your first application.
The quality of your preparation, the accuracy of your designs and the relationships you develop with relevant parties can all play a part in achieving planning permission success.
Successfully navigating this planning permission process should, in most cases, substantially increase the value of the land without doing a single physical improvement. With risks and time associated with planning permission removed, the land is now ready for the project to commence.
About the Author:
Michael Belasco has a decade of real estate and construction experience. He currently works on large-scale, mixed-use development projects in San Francisco for Hines, a global real estate investment, development, and management firm with over $116 billion of assets under management.