I’ve just got planning permission. Now what?

Just had the first estate agent round. He reckons that a newly built house in that position, built to a high spec and good finish, should go for around £550 -£600K. He reckons you could be looking £200K+ to build it. He reckons I could put the site, with planning permission, up for sale for £250K and get somewhere near to that. That's looking to be the more attractive option to me at the moment. I suppose I could put it up and see what happens - don't have to sell if I don't want to, do I. Then again, I don't need the money and I could either carry on working at the site or rent it out - I have three years before the planning permission expires and I'm assuming I could either renew it or re-apply in the future - the local council definitely want to get rid of a commercial property in a residential area so I don't think it would be a problem getting permission again.

It'll cost about 500 quid to put a footing in, at which point the development is commenced - planning expires if development does not begin within 3 years

Looks like your estate agents figures back up the "rule of thirds" reasonably well, particularly when one factors in the optimism that an estate agent brings to any aspiring vendor..
 
Just looking through some of my old threads and came across this one. Thought I’d update it. Well, planning permission lasted 3 years and it was extended by 6 months because of covid/lockdown so I did….absolutely nothing. :ROFLMAO: I continued working there and had the most profitable years of my working life until covid struck. Even then, I had a fair few bob chucked at me by the government and the local authority. After Covid I sort of carried on part time before finally retiring. I then put the place up for sale with expired planning permission and received what I considered a very fair price. I sold it in March ‘25. The new owner submitted the same building plans to the local authority but looking at his application, he had to do a lot more than I did - bat surveys, newt surveys, badger surveys…..and to top it off, he must have fallen out with my old neighbour as this time, he objected to the planning application! He has only just obtained planning permission but has yet to start work. I think I did well, selling it when I did.
 
Just looking through some of my old threads and came across this one. Thought I’d update it. Well, planning permission lasted 3 years and it was extended by 6 months because of covid/lockdown so I did….absolutely nothing. :ROFLMAO: I continued working there and had the most profitable years of my working life until covid struck. Even then, I had a fair few bob chucked at me by the government and the local authority. After Covid I sort of carried on part time before finally retiring. I then put the place up for sale with expired planning permission and received what I considered a very fair price. I sold it in March ‘25. The new owner submitted the same building plans to the local authority but looking at his application, he had to do a lot more than I did - bat surveys, newt surveys, badger surveys…..and to top it off, he must have fallen out with my old neighbour as this time, he objected to the planning application! He has only just obtained planning permission but has yet to start work. I think I did well, selling it when I did.
Bet that 9 years flew by?
 

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