“What To Look For When Buying Land For Commercial Real Estate In United Kingdom” is the topic of this article. Read this article carefully to find out all the guidelines to what to look for when buying land for commercial real estate in the United Kingdom.
We shall study Introduction To Commercial Real Estate In United Kingdom, Factors Influencing The Purchase Of Land For Commercial Real Estate In UK, Buy Land With Planning Permission In United Kingdom, Types Of Planning Permission, How To Buy Land With No Money, Small Plot Of Land For Sale In UK and Farm Lands For Sale In UK.
Introduction To Buying Land For Commercial Real Estate In United Kingdom
Investing in commercial real estate in the UK can be a smart and lucrative decision, but it requires careful consideration and research. One of the most important aspects of any commercial real estate investment is the land on which the property sits. When buying land for commercial real estate in the UK, there are several factors to consider in order to ensure that your investment is sound and profitable. We’re going to be looking at those factors in this article.
Factors Influencing The Purchase Of Land For Commercial Real Estate In UK
Below are what to look for when buying land for commercial real estate in Uk.
Location
One of the most important factors to consider when buying land for commercial real estate in the UK is the location. The right location can make all the difference in the success of your investment. You want to look for land that is located in a prime area that is easily accessible, has good transportation links, and is close to other businesses and amenities that will attract customers.
Consider the zoning laws in the area, as this will impact what type of businesses are allowed to operate on the land. You may also want to research any planned developments or changes in the area, as these can have a significant impact on the value and potential profitability of the land.
Size And Shape
Another important factor to consider when buying land for commercial real estate in the UK is the size and shape of the property. You want to look for a parcel of land that is large enough to accommodate the type of commercial property you are planning to build. Consider the shape of the land as well, as irregularly shaped lots may be more difficult to develop and could limit your options.
Utilities And Infrastructure
When considering land for commercial real estate, it is important to consider the availability and accessibility of utilities and infrastructure. You will want to ensure that the land has access to essential utilities such as water, electricity, and sewer, as well as access to high-speed internet and other telecommunications services. You will also want to consider the condition of any existing infrastructure on the land, such as roads, sidewalks, and drainage systems.
Environmental Factors
Environmental factors can also play a significant role in the value and suitability of land for commercial real estate in the UK. Before purchasing any land, it is important to conduct an environmental assessment to identify any potential issues such as contamination or hazardous materials. You may also want to consider the potential impact of climate change and natural disasters on the land.
Financial Considerations
Of course, any commercial real estate investment must be financially viable in order to be successful. When considering land for commercial real estate in the UK, it is important to consider the purchase price of the land, as well as any additional costs associated with development such as building permits, zoning fees, and construction costs. You will also want to consider the potential rental income or resale value of the property in order to determine its potential return on investment.
Buy Land With Planning Permission In United Kingdom
A planning permission of land is what makes it possible for one to build on a land. It is one of the necessities of buying a land. Therefore you have to ensure that the land has planning permission before you can purchase it.
However, below are the current plots of land for sale with planning permission in the UK:
- Land at Barnside, North Lincolnshire – £90,000
- Rookery Farm Barn, East Suffolk – £400,000
- Land at Lockhurst Lane, Coventry -£300,000
- The Land adjacent to 67 Chiltern View Road, Hillingdon – £210,000
- Land at plots 3 and 4 The Sidings, Newark and Sherwood – £165,000
- Lot 1 Hill Farm, Buckinghamshire – £3,000,000
- Stackyard Cottage, Telford and Wrekin -£825,000.
Types Of Planning Permission
There are basically two types of planning permission in the UK:-
- Outline planning permission: Here, an agreement that the land will be developed must be reached before it grants approval. To get it, you just need a simple site plan, which is just a copy of the Ordinance Survey map.
- Detailed planning permission: This focuses on the main design of the mapped out area with all of its components.
How To Buy Land With No Money
Below are some ways in which you can buy land with no money on ground.
1. Carry Out A Search
You have you look out for land that have a non-rigid buying clause. This entails, searching for land that you can obtain through: loans, payment by instalment, or exchange of properties. Seeking out for such type of land could be exhausting, but if you have the right search links and recommendations, you would find them.
One of the ways that can help you find this type of land is via checking newspapers and magazines for adverts. Also, through signposts or even property agents. However, as you are searching for this land, ensure that you also look out for land issues. Most of the land that are be disposed via non-payment means are most likely to have problems.
2. Take A Loan
Taking a loan from any financial firm is also a way of buying land without money. All you need to ensure is the presence of a legal document, that clarifies the agreement to avoid dispute and issues.
Getting a loan can be quite frustrating as there are lenders with high-interest rates, high percentage of down payment, etc. Therefore, you should ensure that you take loans with low interest rates and small percentage of down payment.
3. Put Your Skill In Place Of The Land
Using your skills in the real estate industry to secure a land is a very good option. Having a skill is the main factor to focus on. Assuming you are booked for a real estate job, you can demand for payment via a piece of land instead of cash.
There are other services that can earn you a piece of land asides the real estate related skills. The challenges you may have is, if the work you did isn’t equivalent to the plot of land. Another challenge is if your client doesn’t have a lot of land to give out as substitute. An option of getting a piece of land through your skills is by rendering services to your employer and not receiving salary in exchange for a piece of land.
4. Collaborate With Other Land Buyers
There are also people who are looking for land to get without money. Look out for those set of people and collaborate with them. That way, you people will form a team and bargain well with land owners or sellers.
The benefit of this is, the land owners or sellers will be willing to give out the land in a condition that is favorable to the team. It won’t be as convenient as when the team members go individually. Also, the interest rates and down payments will drop considerably.
Before you venture into this team, ensure that there is a legal document that covers every team member.
5. Trade With Your Property
This particular method works with the concept of “trade by barter”. If you have valuable properties that you are willing to dispose, you can use it as an exchange for the land. However, you must use properties that are the same value with the land.
For you to achieve this, you will have to put out a notification that shows that you are willing to exchange your property for land. The challenge here is that, failure to carry out a proper comparison of property to land can lead to loss.
Small Plot Of Land For Sale In UK
Below is the update list of small plots of land for sale in the UK:
- Greenways, Swelling Hill, East Hampshire – £1,750,000
- Plot On Columbyne Close, Mid Suffolk – £220,000
- Holly Farm, Dedmans Lane – £1,250,000
- Old Boyle Road, Chichester – £1,495,000
- Kenley Cottage, Shropshire – £875,000
- Pegasus House, Shropshire – £1,400,000
Farm Lands For Sale in the UK
Below are some of the update farms for sale in the UK:
- Spring Lane Farm, – £1,500,000
- The Hill Farm, – £1,000,000
- Albierigg Farm, – £560,000
- Land At Waughton, – £1,250,000
- Kimpton Road, – £865,000
- Hall Farm, – £3,200,000
- Foxhole Lane, – £690,000
Conclusion
Investing in commercial real estate in the UK can be a smart and profitable decision, but it requires careful consideration and research. When buying land for commercial real estate, it is important to consider factors such as location, size and shape, utilities and infrastructure, environmental factors, and financial considerations in order to ensure that your investment is sound and profitable. With the right approach and attention to detail, buying land for commercial real estate in the UK can be a rewarding and lucrative investment opportunity