Hi everyone, newbie here so please be gentle!
I'm looking at buying a plot of land and hoping to be able to get planning permission for 2 semi detached chalet bungalows. It is very marginally outside of the settlement boundary for the village, however if I couldn't get planning consent I'd use the land for equestrian purposes so I wouldn't be overly concerned.
There is however a development clause, whereby the current vendor is entitled to 50% of the uplift value.
The field is just under 3 acres and is up for £30,000. As I say, if we were able to get planning then it would be on about 1/8 of an acre in the field. Can anybody give me a rough estimate on how much the land would be worth if we were able to get planning for this?
We're in Somerset, in a fairly desirable location however land in this area does come up for sale quite a lot.
Many thanks in advance!
I'm looking at buying a plot of land and hoping to be able to get planning permission for 2 semi detached chalet bungalows. It is very marginally outside of the settlement boundary for the village, however if I couldn't get planning consent I'd use the land for equestrian purposes so I wouldn't be overly concerned.
There is however a development clause, whereby the current vendor is entitled to 50% of the uplift value.
The field is just under 3 acres and is up for £30,000. As I say, if we were able to get planning then it would be on about 1/8 of an acre in the field. Can anybody give me a rough estimate on how much the land would be worth if we were able to get planning for this?
We're in Somerset, in a fairly desirable location however land in this area does come up for sale quite a lot.
Many thanks in advance!
