Passing the (profitable land) parcel!


One aspect of the housing market which has come to our attention is the situation where land which has already been acquired by a developer and has planning permission is then put on the market again making it available to another developer to purchase. There are three recent examples below.

We assume that when parcels of land are sold in this way that the developer who sells the land makes a profit from doing so otherwise why would they sell!

So what we have is a situation where developers buy land, get planning permission and then sell the land on to another developer. We have therefore a market in land with planning permission. This presumably bumps up the cost of housing.

This is another example of market madness, where private greed works against the public good. So what is to be done?

We would suggest that where developers decide that they cannot for whatever reason carry out the development themselves, then they should only be able to transfer the land to another developer, not be able to sell on and make an (unearned) profit.

Land for sale in Prime Residential Development Site, Redruth, Cornwall TR15

This well located parcel of development land is situated on the western side of Redruth, to the south of the A30 and to the north of the A3047, approximately 1 mile from Redruth town centre. The land extends to approximately 13.50 hectares (33.36 acres) and benefits from outline planning consent to include up to 370 dwellings, 20% of which are required to be affordable.

The approved planning consents also provide for significant improvement works to the A3047 (including new cycleway and pedestrian improvements) – the financial contribution for which has been paid by the current owners. This road scheme is to provide a new ‘gateway’ entrance to Redruth, and enable the site to be connected to the town in urban planning terms. It forms part of the planned Urban Extension of the town, and will be connected by the ‘Redruth Corridor’ which is to be a regenerated Chapel Street, the driver of which is the already-funded Kresen Kernow scheme.

The site is currently arable farmland although shows some signs of the former mining industry that occurred on part of the site. The A30 corridor runs to the north of the site within a steep sided cutting and the major urban areas of Redruth lie to the east. The site is generally level or gently sloping.
Read more at https://www.primelocation.com/for-sale/details/42273796#YQWWhHPTEa5JtpIM.99

Land for sale in Development Site For 33 Dwellings, Illogan, Cornwall TR16

Klp are delighted to offer to the market this residential development opportunity in Illogan which benefits from outline planning permission for c. 33 new dwellings. The well located site is set within an established residential area to the north of the village and has direct frontage to Church Road of c. 73 metres. Currently agricultural land laid to grass, the site is relatively level with a very gently eastward slope.

The indicative site layout plan which accompanied the approved application shows a development comprising 7 x 4 bedroom houses, 13 x 3 bedroom houses and 13 x 2 bedroom houses along with 54 car parking spaces.

There is a requirement to provide 25% affordable housing for the developed scheme. The boundaries of the site are established and mature hedgerows and trees to all sides. The site is ideally located for both village life and offers great communication links via the nearby A30. The site also benefits from a permissive path (care of the Diocese of Truro) adjoining the site linking Manningham woods to the village.

Read more at https://www.primelocation.com/for-sale/details/44416869#KEfjDuqbVWuTKGd5.99

Land for sale in Development Site For 14 Houses, St Mabyn PL30

This is an excellent opportunity to acquire a 0.73ha (1.80 acres) development site with detailed planning permission for 14 new dwellings situated on the northern edge of this popular and attractive North Cornish village. The site is ideally located for both village life and access to the nearby towns of Wadebridge (4 miles), Bodmin (6 miles) and Padstow (12 miles). The site is relatively level, with a very gradual slope from east to west.

The proposed development consists of 7 open market and 7 affordable dwellings, with the open market housing comprising of large detached 4 bedroom houses with gross internal floor areas ranging from 188sqm (2023sqft) to 223sqm (2400sqft). The plot areas for the open market houses are all a good size, ranging from 528sqm (0.13 acres) to 886sqm (0.22 acres). The site is proposed to be accessed via a new roadway to be formed off the public highway on the western side of the site.

Read more at https://www.primelocation.com/for-sale/details/44229241#4yJACBX82q05EE7K.99

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One comment on “Passing the (profitable land) parcel!

  1. Davydh T says:

    In how many cases like this are the new owners able to vary the original planning permission, say to wriggle out of the affordable housing obligations, for example?

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