Land acquisition - Revision history

Designing Buildings at 05:18, 22 October 2020

2020-10-22T05:18:45Z

← Older revision		Revision as of 05:18, 22 October 2020
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	* Site selection and acquisition.		* Site selection and acquisition.

−	[[Category:Cost_/_business_planning]] [[Category:Procurement]] [[Category:Property_development]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]] [[Category:Procurement]] [[Category:Property_development]]

Editor at 18:02, 29 January 2019

2019-01-29T18:02:53Z

← Older revision		Revision as of 18:02, 29 January 2019
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	Information about the land in question can be obtained through the Land Registry.		Information about the land in question can be obtained through the Land Registry.

−	~~= Find out more =~~	+	= Related articles on Designing Buildings Wiki =
−		+
−	=== Related articles on Designing Buildings Wiki ===	+

	* Adverse possession.		* Adverse possession.
		+	* Built to suit.
	* Commonhold.		* Commonhold.
	* Developer.		* Developer.

Editor at 14:12, 5 September 2018

2018-09-05T14:12:23Z

← Older revision		Revision as of 14:12, 5 September 2018
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	* Existing use value.		* Existing use value.
	* Hope value.		* Hope value.
		+	* Housebuilder.
	* Housing tenure.		* Housing tenure.
	* Land.		* Land.

Editor at 16:27, 20 August 2018

2018-08-20T16:27:47Z

← Older revision		Revision as of 16:27, 20 August 2018
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	* Hope value.		* Hope value.
	* Housing tenure.		* Housing tenure.
		+	* Land.
	* Land registry.		* Land registry.
	* Land value.		* Land value.

Editor at 14:53, 4 May 2018

2018-05-04T14:53:06Z

← Older revision		Revision as of 14:53, 4 May 2018
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	As with other forms of acquisition, the caveat emptor rule applies which makes it incumbent on the buyer to undertake thorough research to identify any potential risks or problems.		As with other forms of acquisition, the caveat emptor rule applies which makes it incumbent on the buyer to undertake thorough research to identify any potential risks or problems.

−	The cost of a plot of land depends on factors such as; the desire of the vendor to sell, location, size, form, accessibility, proximity to infrastructure and transport links, the general state of the property market, whether it has or is likely to receive planning permission and so on. The term 'use value' refers to what land is worth in its current form, whereas, 'hope value' refers to what it is worth based on the expectation of getting permission for development. Generally, land that has planning permission for development has a higher value than land that does not.	+	The cost of a plot of land depends on factors such as; the desire of the vendor to sell, location, size, form, accessibility, proximity to infrastructure and transport links, the general state of the property market, whether it has or is likely to receive planning permission and so on. The term 'existing use value' refers to what land is worth in its current form, whereas 'hope value' refers to what it is worth based on the expectation of getting permission for development. Generally, land that has planning permission for development has a higher value than land that does not.

	Land acquisition methods include:		Land acquisition methods include:
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	* Commonhold.		* Commonhold.
	* Developer.		* Developer.
		+	* Existing use value.
	* Hope value.		* Hope value.
	* Housing tenure.		* Housing tenure.

Editor at 13:51, 4 May 2018

2018-05-04T13:51:09Z

← Older revision		Revision as of 13:51, 4 May 2018
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−	Land acquisition is the process of buying a piece of land. The motivation behind land acquisition can be varied; perhaps as an alternative investment to shares, as the starting point for a self-build project, to develop at a later date, and so on.	+	Land acquisition is the process of buying a piece of land. The motivation behind land acquisition can be varied; perhaps as an alternative investment to shares, as the starting point for a [[Self-build_home\|self-build project]], to develop at a later date, and so on.

	As with other forms of acquisition, the caveat emptor rule applies which makes it incumbent on the buyer to undertake thorough research to identify any potential risks or problems.		As with other forms of acquisition, the caveat emptor rule applies which makes it incumbent on the buyer to undertake thorough research to identify any potential risks or problems.

Designing Buildings at 12:44, 9 April 2018

2018-04-09T12:44:06Z

← Older revision		Revision as of 12:44, 9 April 2018
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	Options for finding land to acquire include:		Options for finding land to acquire include:

		+	* Advertising.
		+	* Offering a finders fee.
		+	* Online search tools and forums.
	* Specialist land agent or estate agent.		* Specialist land agent or estate agent.
−	* ~~Searching~~ local maps or ~~satellite images~~.	+	* Approaching owners of land designated for residential use in local development plans.
		+	* Analysing aerial photography and large-scale maps which might reveal potential infill plots, such as; large back gardens, waste ground or brownfield sites.
		+	* Poorly built, low-value properties that might be worth purchasing for their land value.
	* Local developers who may have individual plots for sale.		* Local developers who may have individual plots for sale.
	* Land auctions.		* Land auctions.

Designing Buildings at 12:42, 9 April 2018

2018-04-09T12:42:04Z

← Older revision		Revision as of 12:42, 9 April 2018
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−	Land acquisition is the process of ~~acquiring~~ a piece of land. The motivation behind land acquisition can be varied; perhaps as an alternative ~~(and potentially less volatile)~~ investment to ~~property or~~ shares, as the starting point for a self-build project, to ~~redevelop~~ at a later date, and so on.	+	Land acquisition is the process of buying a piece of land. The motivation behind land acquisition can be varied; perhaps as an alternative investment to shares, as the starting point for a self-build project, to develop at a later date, and so on.

−	As with ~~property~~ acquisition, the caveat emptor rule applies which makes it incumbent on the buyer to undertake thorough research to ~~mitigate~~ any risks. The cost of a plot of land depends on various factors, such as location, size, proximity to infrastructure links, etc., but land values are relative to the general state of the property market at any given time.	+	As with other forms of acquisition, the caveat emptor rule applies which makes it incumbent on the buyer to undertake thorough research to identify any potential risks or problems.

−	The use value is what land is worth in its current form, whereas, ~~its~~ hope value is what it is worth based on the expectation of getting ~~planning~~ permission for development ~~on it~~. Generally, land that has planning permission for development has a higher value than land that does not.	+	The cost of a plot of land depends on factors such as; the desire of the vendor to sell, location, size, form, accessibility, proximity to infrastructure and transport links, the general state of the property market, whether it has or is likely to receive planning permission and so on. The term 'use value' refers to what land is worth in its current form, whereas, 'hope value' refers to what it is worth based on the expectation of getting permission for development. Generally, land that has planning permission for development has a higher value than land that does not.

−	~~General and ‘private’ land~~ acquisition methods ~~are~~:	+	Land acquisition methods include:

−	* Through a consent-based obligation: A gift, settlement of a trust, contract agreement, and so on~~. To be fully protected, all interests in land should be registered~~.	+	* Through a consent-based obligation: A gift, settlement of a trust, contract agreement, and so on.
	* Resulting or constructive trust: Acknowledges the contribution (financial or otherwise) that an individual has made to the land and/or property on it.		* Resulting or constructive trust: Acknowledges the contribution (financial or otherwise) that an individual has made to the land and/or property on it.
	* Assurance: A claim of proprietary estoppel is a way for people to acquire rights in land if dealings with a landowner have fallen short of a contract.		* Assurance: A claim of proprietary estoppel is a way for people to acquire rights in land if dealings with a landowner have fallen short of a contract.
−	* Adverse possession: A claim of a right in land if it has been inhabited long enough~~, even if adverse to a previous owner~~. ~~The ‘twelve year rule’ means that if~~ a person has been in possession of ~~unregistered~~ land for 12 years, ~~then~~ they ~~can~~ acquire legal title to ~~the land~~.	+	* Adverse possession: A claim of a right in land if it has been inhabited long enough. If a person has been in possession of land for 12 years, they may be able to acquire legal title to it.
−		+	* Compulsory purchase: Making it available for public works such as building infrastructure, utilities or housing developments.
−	~~Land can also be acquired by compulsory~~ purchase~~, making~~ it available for public works such as building infrastructure, utilities or housing developments~~. This can be a solution if private landowners are deemed to be ‘land banking’ and not developing it sufficiently~~.	+

	Options for finding land to acquire include:		Options for finding land to acquire include:

	* Specialist land agent or estate agent.		* Specialist land agent or estate agent.
		+	* Searching local maps or satellite images.
	* Local developers who may have individual plots for sale.		* Local developers who may have individual plots for sale.
	* Land auctions.		* Land auctions.
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	* Private enquiries to private homes, for example, which may have large gardens that the owners are willing to sell for development purposes.		* Private enquiries to private homes, for example, which may have large gardens that the owners are willing to sell for development purposes.

−	A full and proper land survey should be carried out by a land surveyor prior to acquisition. This may take the form of an environmental impact assessment or feasibility studies, that can determine the workability of the site and identify any potential issues that may be encountered. A full survey can also identify title deeds and boundaries. In terms of planning permission, the following basic scenarios may apply to the land at the time of acquisition:	+	A full and proper land survey should be carried out by a land surveyor prior to acquisition.

−	* It has no planning permission.	+	Feasibility studies can help determine the usability of the site and identify any potential issues that may be encountered.
−	* It has outline planning permission.	+
−	* It has detailed or full planning permission for a building development which has been approved.	+

−	A legal professional should be appointed to oversee ~~the~~ land acquisition, although in general, purchasing land is less complicated than the buying and selling of property. Nevertheless, a lawyer specialising in land transactions will be able to ascertain issues relating to ~~permitted use (i.e. whether the local authority will permit permission for the development being planned or whether there are restrictive covenants)~~, boundaries, rights of way, right to light, noise issues, and so on. ~~The lawyer~~ will also be responsible for checking that the land has clear title (i.e. that it is legitimately for sale), and that the legal documentation relating to the ~~site’s size, scale and dimensions~~ is accurate and correct.	+	A legal professional should be appointed to oversee land acquisition, although in general, purchasing land is less complicated than the buying and selling of property. Nevertheless, a lawyer specialising in land transactions will be able to ascertain issues relating to permissions, boundaries, rights of way, right to light, noise issues, and so on. They will also be responsible for checking that the land has clear title (i.e. that it is legitimately for sale), and that the legal documentation relating to the site is accurate and correct.

−	~~Further information~~ about the land in question can be obtained through the Land Registry.	+	Information about the land in question can be obtained through the Land Registry.

	= Find out more =		= Find out more =

Editor at 16:43, 27 February 2018

2018-02-27T16:43:26Z

← Older revision		Revision as of 16:43, 27 February 2018
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	* Land value.		* Land value.
	* Leasehold.		* Leasehold.
		+	* Planning permission.
	* Restrictive covenants.		* Restrictive covenants.
	* Site appraisals.		* Site appraisals.
−	* Site selection.	+	* Site selection and acquisition.

	[[Category:Cost_/_business_planning]] [[Category:Procurement]] [[Category:Property_development]]		[[Category:Cost_/_business_planning]] [[Category:Procurement]] [[Category:Property_development]]

Editor at 16:39, 27 February 2018

2018-02-27T16:39:06Z

← Older revision		Revision as of 16:39, 27 February 2018
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	* Resulting or constructive trust: Acknowledges the contribution (financial or otherwise) that an individual has made to the land and/or property on it.		* Resulting or constructive trust: Acknowledges the contribution (financial or otherwise) that an individual has made to the land and/or property on it.
	* Assurance: A claim of proprietary estoppel is a way for people to acquire rights in land if dealings with a landowner have fallen short of a contract.		* Assurance: A claim of proprietary estoppel is a way for people to acquire rights in land if dealings with a landowner have fallen short of a contract.
−	* Adverse possession: A claim of a right in land if it has been inhabited long enough, even if adverse to a previous owner. The ‘twelve year rule’ means that if a person has been in ~~[https://www.designingbuildings.co.uk/wiki/Possession~~ possession] of unregistered land for 12 years, then they can acquire legal title to the land.	+	* Adverse possession: A claim of a right in land if it has been inhabited long enough, even if adverse to a previous owner. The ‘twelve year rule’ means that if a person has been in possession of unregistered land for 12 years, then they can acquire legal title to the land.

	Land can also be acquired by compulsory purchase, making it available for public works such as building infrastructure, utilities or housing developments. This can be a solution if private landowners are deemed to be ‘land banking’ and not developing it sufficiently.		Land can also be acquired by compulsory purchase, making it available for public works such as building infrastructure, utilities or housing developments. This can be a solution if private landowners are deemed to be ‘land banking’ and not developing it sufficiently.