You have to play the long game to win at property development. There are difficulties around every corner on your way to profits. One of the main challenges to overcome as a developer is finding a site with potential; this can be a full-time job. With the limited availability of sites, especially in and around London, developers often need help tackling sites unsuitable for a standard planning and construction process.
These are sites that other developers have often passed over. They often come with significant constraints, such as a chequered planning history, buildings with the wrong use class, or in a conservation area or with a tree preservation order in place. Very challenging sites often have a mixture of the above and other constraints that add to your risk as a developer.
However, this doesn’t mean they are a dead end. Challenging sites can sometimes present the most exciting and profitable opportunities, but you must have your wits about you and an abundance of patience.
Here are some of the more common challenges on development sites and what you can do to mitigate your risk on the way to those long-term profits.
Chequered Planning History
Overcoming a chequered planning history is always challenging, but improving your prospects with a careful strategy is possible.
Start by assessing why the site has yet to breeze through the planning system. Identify the issues, objections, or non-compliance that led to previous planning rejections. Understanding the root causes is essential if you are to address them effectively.