B1 Land Use Value

[Grak]

Hi,



I wonder whether you can help.

I am looking at two sites with B1 use the combined site area would be 2.3ha one unit is 1591sqm and vacant and sits on a 0.9ha plot the other is currently a food manufacturing facility and the building is 2185sqm. I am loking at the potential of the Change of Use of the land to residential and can work out an offer based on the GDV of this



However I would also be interested to know how I would go about working out the value of the land as is?

Any help greatly appreciated.



Thanks

G

[NavSG]

You'll have to carry out a residual valuation which will work out a GDV and site value. However this is only if the land gets change of use. What you are after is site value before change of use. Look at similar units in the area with same use. Should give you an idea of price per metre squared.

[pdk]

You need to do a viability analysis that will set build costs and profit margins against end realisations to give you a residual land value.... a development surveyor with development value will help...

But first - LOOK AT PLANNING POLICY!!! Your site may be protected against loss of B1 space.... If that's the case then you need advice from a good planning consultant!!

Good luck with it...

PETER


NOTE: Peter Kyte BSC (Hons) DipTP MRTPI CGeog is an official LandlordZONE Topic Expert… For more information on Peter D Kyte Associates and Enabling Projects please see the websites at http://www.enablinguk.com and http://www.development-seekers.com. Any advice given by Peter Kyte in this Forum is of a general nature only and should not be taken to be a final and binding planning opinion. Based on any initial advice given you are strongly advised to seek a further professional opinion, which may involve a site visit and a detailed analysis of the issues... For information on the sort of work Peter undertakes please see TRACK RECORD (http://www.enablinguk.com/track.html), WORKING WITH INVESTORS (http://www.enablinguk.com/ur-property-investors-planning.html), and PROJECT TYPES (http://www.enablinguk.com/planning-project-permission-appeal-UK.html)...