Interesting Scenarios
Ripe for development? Not all derelict structures can simply be developed. This structure was listed! As bizarre as it may seem, it can be quite a battle to persuade the local planning authorities to give consent to redevelop redundant and derelict sites. Likewise, land in the so called “green belt”, agricultural land and even a back garden. Getting an opinion and choosing the right partner is key, why not choose Success Property!
Proposed Farm Disposal
A farm owner needs to invest a million pounds in new technology, machinery and upgrades to his barns and outbuildings in order to improve efficiency, competitiveness and long term sustainability. The farm consists of 235 acres adjacent to a market town. Taking out a loan would result in a mortgage charge over the whole of the farm assets, including the farm house, a building which his great, great grandfather built and where he and his father and indeed his own children were born. Repayments and interest charges would make the farmer vulnerable and hostage to uncertainty during lean times, standing still and doing nothing is not a real option since the farm had become unviable and was losing money.
A matrimonial separation
A married couple have decided that they would like to separate and go their own individual ways. It’s an amicable position and they are considering the options to divide the matrimonial assets. The main asset is a 1930’s detached 5 bedroom house set in 2 acres of garden on a street leading into a prosperous regional town in the Home Counties.
Local agents value the house at between £750,000 and £775,000. After settling the outstanding mortgage and other accrued debts and liabilities, this leaves clear equity of circa £300,000, not enough money when divided in half to give either of the couple a comfortable fresh start.
A lifestyle business that’s not quite giving the desired style of life
Two brothers have owned and operated a small horticultural business growing plants from seed and they wholesale and retail their products. It’s a 7 day a week business, days are long and hard, there’s never been a shortage of customers. It’s a competitive field and prices are held down by imports from Eastern Europe. The business has given the brothers a living, they both love growing plants and are experts in the field, they’ve been in business over 30 years, the work is physical and most of it is done during the winter months in all weathers. They begin to contemplate retirement, they discuss this with their wives and all agree, it’s time to slow down. A rival business some thirty miles away are interested in buying the whole business and premises and offer to do so for the equivalent of 12 years profits plus the value of the stock and green houses. The princely sum of £825,000 is offered, a handsome sum but not much to share between them for a lifetimes work and after everything they’ve put into the business for most of their working lives.
Local watering hole dries up
A small Berkshire town has 3 public houses. One of these, the one not making any money, is a privately owned and operated independent establishment, the other 2 belong to large breweries. The 2 owned by the breweries have been subjected to significant refurbishment and modernisation programmes. They are both now trendy bistro and gastro pubs, popular with young families and commuting professionals, new residents to the area are flocking to them, their businesses flourish. The 3rd public house which Isn’t making money and cannot compete looks shabby by comparison, is a little tired both inside and out, but the locals like it that way, it is “comfy” and “smells” like a pub. It’s a good place for a pint and a bag of crisps, perhaps a chat with a familiar face you’ve known for years, on Thursday evenings there’s a darts match but it’s customer base is dwindling.
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WHY LAND AND PROPERTY OWNERS CHOOSE SUCCESS PROPERTY
Understanding the potential of a piece of real estate is crucial to understanding its true value. Almost without exception, the end value will be heavily influenced by what development or regeneration would be permissible at the local authority planning department. Planning law is becoming increasingly complex, sustainability and ecological issues are now paramount to the planning application process. Understanding the complex and ever evolving issues is where we add value to an owners asset. Our collaborations with the UK’s top tier house builders and developers and our knowledge of their strengths and strategies ensures that we are well placed to be a preferred partner for a sympathetically appropriate development scheme. That is the key to ensuring that success is the outcome.
