Land value - Revision history

Editor at 20:25, 1 November 2021

2021-11-01T20:25:50Z

← Older revision		Revision as of 20:25, 1 November 2021
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	This article was created by --[[User:Grant_Erskine_Architects\|Grant Erskine Architects]] 11:10, 14 January 2013 (UTC)		This article was created by --[[User:Grant_Erskine_Architects\|Grant Erskine Architects]] 11:10, 14 January 2013 (UTC)

−	= Related articles on Designing Buildings ~~Wiki~~ =	+	= Related articles on Designing Buildings =

	* Asbestos.		* Asbestos.
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	* Speculative construction.		* Speculative construction.
	* Stamp duty.		* Stamp duty.
		+	* TA6 Property Information Form.
	* Technical due diligence.		* Technical due diligence.
	* Use class.		* Use class.

	[[Category:DCN_Guidance]] [[Category:Client_procedures]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]		[[Category:DCN_Guidance]] [[Category:Client_procedures]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Designing Buildings at 07:21, 5 November 2020

2020-11-05T07:21:50Z

← Older revision		Revision as of 07:21, 5 November 2020
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		+	= Introduction =
		+
	Land value is the amount of money that a piece of land, along with the property contained on it, is priced at. This includes any improvements that have been made to the land. Land values increase when demand exceeds the supply, or if the land has intrinsic value greater than neighbouring areas, for example, if it has an oil supply or fresh water.		Land value is the amount of money that a piece of land, along with the property contained on it, is priced at. This includes any improvements that have been made to the land. Land values increase when demand exceeds the supply, or if the land has intrinsic value greater than neighbouring areas, for example, if it has an oil supply or fresh water.

	This article discusses some of the characteristics of a site that affect it's value, beyond the simple fact that a site is worth 'as much as someone is willing to pay'.		This article discusses some of the characteristics of a site that affect it's value, beyond the simple fact that a site is worth 'as much as someone is willing to pay'.

−	=== Size ===	+	= Size =

	The ideal developable piece of land is of an adequate size to maximise its potential. For example, think about a site that is too big for two houses, but not big enough for three. Simply building bigger houses might not solve this problem as the size of a dwelling is not the only characteristic affecting its price (for example, in some areas the market expects houses of a particular size).		The ideal developable piece of land is of an adequate size to maximise its potential. For example, think about a site that is too big for two houses, but not big enough for three. Simply building bigger houses might not solve this problem as the size of a dwelling is not the only characteristic affecting its price (for example, in some areas the market expects houses of a particular size).

−	=== Proportion ===	+	= Proportion =

	The ideal site for a specific project will be of a certain proportion. For example, a 1,000 sq. m site at 50 m x 20 m is likely to be a well-proportioned site. However, a 1,000 sq. m that is 200 m x 5 m may not be very suitable for development.		The ideal site for a specific project will be of a certain proportion. For example, a 1,000 sq. m site at 50 m x 20 m is likely to be a well-proportioned site. However, a 1,000 sq. m that is 200 m x 5 m may not be very suitable for development.

−	=== Frontage ===	+	= Frontage =

	As with size, depending on the nature of a project, the proportion of the site that fronts a road is important when assessing its value. In the worst case, where a site is land locked and has no direct access to a public highway, the purchaser will need to buy a second piece of land in order to create access.		As with size, depending on the nature of a project, the proportion of the site that fronts a road is important when assessing its value. In the worst case, where a site is land locked and has no direct access to a public highway, the purchaser will need to buy a second piece of land in order to create access.

−	=== Shape ===	+	= Shape =

	As with proportion, shape is one of the most influential factors on value, especially in smaller sites. Consider for example, a one acre square compared to a one acre triangle. The amount of wasted space due to the sites shape pushes down the overall value of the land.		As with proportion, shape is one of the most influential factors on value, especially in smaller sites. Consider for example, a one acre square compared to a one acre triangle. The amount of wasted space due to the sites shape pushes down the overall value of the land.

−	=== Development potential ===	+	= Development potential =

	It is generally not feasible to build a 20-storey apartment block in a country village or a warehouse in a city centre. Development potential is defined by the permissions that can gained and what can be marketed in a particular area.		It is generally not feasible to build a 20-storey apartment block in a country village or a warehouse in a city centre. Development potential is defined by the permissions that can gained and what can be marketed in a particular area.

−	=== Time constraints ===	+	= Time constraints =

	What time pressures is the project under? The vendor can ultimately define the price based on whether or not they require a quick sale. It is important when carrying out this sort of time-based assessment to take into account costs of interest repayments on any loans.		What time pressures is the project under? The vendor can ultimately define the price based on whether or not they require a quick sale. It is important when carrying out this sort of time-based assessment to take into account costs of interest repayments on any loans.

−	=== Location ===	+	= Location =

	Where is the site? For example, edge of town sites offer more freedom than city centre sites, but may have less of a premium.		Where is the site? For example, edge of town sites offer more freedom than city centre sites, but may have less of a premium.
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	Where is the project's target demographic? What sort of people are likely to use the development? Where are they based? How will they get to the site?		Where is the project's target demographic? What sort of people are likely to use the development? Where are they based? How will they get to the site?

−	=== Use class ===	+	= Use class =

	If a site has been classed as A1 Retail, it may be difficult to have this changed to C3 Dwellings (although this is very dependent on local policy).		If a site has been classed as A1 Retail, it may be difficult to have this changed to C3 Dwellings (although this is very dependent on local policy).

−	=== Assessing value ===	+	= Assessing value =

	There are a number of ways that a quick assessment of land value can be made:		There are a number of ways that a quick assessment of land value can be made:
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	This article was created by --[[User:Grant_Erskine_Architects\|Grant Erskine Architects]] 11:10, 14 January 2013 (UTC)		This article was created by --[[User:Grant_Erskine_Architects\|Grant Erskine Architects]] 11:10, 14 January 2013 (UTC)

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

	* Asbestos.		* Asbestos.
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	* Use class.		* Use class.

−	~~=== External references ===~~	+	[[Category:DCN_Guidance]] [[Category:Client_procedures]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]
−		+
−	* [~~http~~:~~//www.zoopla.co.uk/market/uk Zoopla, area stats for UK~~].	+
−		+
−	[[Category:Client_procedures]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]	+

Editor at 16:29, 20 August 2018

2018-08-20T16:29:17Z

← Older revision		Revision as of 16:29, 20 August 2018
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	* Hope value.		* Hope value.
	* Investment Property Databank (IPD).		* Investment Property Databank (IPD).
		+	* Land.
	* Land acquisition.		* Land acquisition.
	* Planning permission.		* Planning permission.

Editor at 12:29, 15 May 2018

2018-05-15T12:29:05Z

← Older revision		Revision as of 12:29, 15 May 2018
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	* Home ownership.		* Home ownership.
	* Hope value.		* Hope value.
		+	* Investment Property Databank (IPD).
	* Land acquisition.		* Land acquisition.
	* Planning permission.		* Planning permission.

Editor at 15:34, 4 May 2018

2018-05-04T15:34:53Z

← Older revision		Revision as of 15:34, 4 May 2018
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	* Development appraisal.		* Development appraisal.
	* Development on brownfield land.		* Development on brownfield land.
		+	* Difference between existing use value and market value.
	* Existing use value.		* Existing use value.
	* Home ownership.		* Home ownership.

Editor at 14:53, 4 May 2018

2018-05-04T14:53:25Z

← Older revision		Revision as of 14:53, 4 May 2018
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	* Development appraisal.		* Development appraisal.
	* Development on brownfield land.		* Development on brownfield land.
		+	* Existing use value.
	* Home ownership.		* Home ownership.
	* Hope value.		* Hope value.

Editor at 16:47, 27 February 2018

2018-02-27T16:47:50Z

← Older revision		Revision as of 16:47, 27 February 2018
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	* Home ownership.		* Home ownership.
	* Hope value.		* Hope value.
		+	* Land acquisition.
	* Planning permission.		* Planning permission.
	* Rating valuation.		* Rating valuation.

Editor at 11:30, 6 February 2018

2018-02-06T11:30:47Z

← Older revision		Revision as of 11:30, 6 February 2018
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	* Development on brownfield land.		* Development on brownfield land.
	* Home ownership.		* Home ownership.
		+	* Hope value.
	* Planning permission.		* Planning permission.
	* Rating valuation.		* Rating valuation.

Editor at 16:05, 28 December 2017

2017-12-28T16:05:30Z

← Older revision		Revision as of 16:05, 28 December 2017
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−	This article discusses some of the characteristics of a site that affect it's value, beyond the simple fact that as site is worth ~~"...~~as much as someone is willing to pay~~"~~.	+	Land value is the amount of money that a piece of land, along with the property contained on it, is priced at. This includes any improvements that have been made to the land. Land values increase when demand exceeds the supply, or if the land has intrinsic value greater than neighbouring areas, for example, if it has an oil supply or fresh water.
		+
		+	This article discusses some of the characteristics of a site that affect it's value, beyond the simple fact that a site is worth 'as much as someone is willing to pay'.

	=== Size ===		=== Size ===

−	The ideal developable piece of land is of an adequate size to maximise its potential. For example, think about a site that is too big for 2 houses, but not big enough for 3. Simply building bigger houses, might not solve this problem, as the size of a dwelling is not the only characteristic affecting its price (for example, in some areas the market expects houses of a particular size).	+	The ideal developable piece of land is of an adequate size to maximise its potential. For example, think about a site that is too big for two houses, but not big enough for three. Simply building bigger houses might not solve this problem as the size of a dwelling is not the only characteristic affecting its price (for example, in some areas the market expects houses of a particular size).

	=== Proportion ===		=== Proportion ===

−	The ideal site for a specific project will be of a certain proportion. For example, a ~~1000 m~~ sq site at ~~50m~~ x ~~20m.~~ is likely to be a well-proportioned site. However, a ~~1000 m~~ sq that is ~~200m~~ x 5m may not be very suitable for development.	+	The ideal site for a specific project will be of a certain proportion. For example, a 1,000 sq. m site at 50 m x 20 m is likely to be a well-proportioned site. However, a 1,000 sq. m that is 200 m x 5 m may not be very suitable for development.

	=== Frontage ===		=== Frontage ===
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	=== Shape ===		=== Shape ===

−	As with proportion, shape is one of the most influential factors on value, especially in smaller sites. Consider for example a one acre square compared to a one acre triangle. The amount of wasted space due to the sites shape pushes down the overall value of the land.	+	As with proportion, shape is one of the most influential factors on value, especially in smaller sites. Consider for example, a one acre square compared to a one acre triangle. The amount of wasted space due to the sites shape pushes down the overall value of the land.

	=== Development potential ===		=== Development potential ===

−	It is generally not feasible to build a 20 storey apartment block in a country village or a warehouse in a city centre. Development potential is defined by the permissions that can gained and what can be marketed in a particular area.	+	It is generally not feasible to build a 20-storey apartment block in a country village or a warehouse in a city centre. Development potential is defined by the permissions that can gained and what can be marketed in a particular area.

	=== Time constraints ===		=== Time constraints ===
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	Where is the project's target demographic? What sort of people are likely to use the development? Where are they based? How will they get to the site?		Where is the project's target demographic? What sort of people are likely to use the development? Where are they based? How will they get to the site?

−	=== Use class. ===	+	=== Use class ===

	If a site has been classed as A1 Retail, it may be difficult to have this changed to C3 Dwellings (although this is very dependent on local policy).		If a site has been classed as A1 Retail, it may be difficult to have this changed to C3 Dwellings (although this is very dependent on local policy).
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	There are a number of ways that a quick assessment of land value can be made:		There are a number of ways that a quick assessment of land value can be made:

−	* Research what other sites of similar type and location are selling for (~~for example~~ [http://www.zoopla.co.uk/market/uk Zoopla, area stats for UK])	+	* Research what other sites of similar type and location are selling for (e.g. [http://www.zoopla.co.uk/market/uk Zoopla, area stats for UK])
	* Advertise the site, asking for offers.		* Advertise the site, asking for offers.
	* Many commercial estate agents will offer a free initial review of land.		* Many commercial estate agents will offer a free initial review of land.

Editor at 13:49, 26 January 2017

2017-01-26T13:49:04Z

← Older revision		Revision as of 13:49, 26 January 2017
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	* Site information.		* Site information.
	* Site surveys.		* Site surveys.
		+	* Speculative construction.
	* Stamp duty.		* Stamp duty.
	* Technical due diligence.		* Technical due diligence.