1.0 Introduction

It is quite difficult to find the most suitable sites for development for property development and this was getting progressively more difficult because of the volatility in the construction marketplace resulting in inflated prices for land acquisition.

Even when you thought you had found a suitable site, then the rapidly rising costs of construction materials and the shortage of suitable qualified and experienced labour in the areas where you are developing makes the whole sites for development property development process even more risky than has traditionally been the case.

We review a number of different methods which we use to identify and locate suitable property sites for development throughout the UK.

2.0 Direct to Vendor

This method of identifying suitable sites for development is by far the most preferred. It means that there are no finders or sourcers fees applicable.

Direct to vendor negotiations can take place via a number of different methods. Some of the better known ones are listed below:

2.1) Leaflet drops

You can decide on an area in which you would like to source and acquire property and prepare a batch of suitably worded leaflets and drop these through letter boxes in the chosen area.

It is not guaranteed that the leaflet will in fact reach the target precipient who would normally be the owner of the target property.

Sometimes leaflets are just binned along with other junk mail that arrives through the letterbox.

2.2) Landlord Letters

Landlord letters employ similar methods to leaflet drops in that they are targeted at a particular area that is of interest.

The difference is that landlord letters are usually addressed either to the sites for development property owner as a title or alternatively to a named person, if you have been able to find out this information, which could be from a number of different sources.

There is still no guarantee that your letter which reach the required person, but sometimes a formal letter in a different colour envelope may help to ensure the letter is noticed.

2.3) Site-Finding Software

There are a number of different software packages that can be used in order to research suitable sites for property development, such as:

• Nimbus Maps
• Search and
• Land Insight
• Property Data
• Property Filter
• Property Dashboard

There are different price points and different features of each software system. Some of the systems allow letters to be originated from within the software, which is a big plus. Others require interface with a separate system for dispatching the letters, which of course incurs additional costs.

3.0 Residential and Commercial Property Advertising Platforms

There are a large number of such platforms for advertising sites for development property for sale, the best known of which are:

• On The Market
• Zoopla
• Rightmove

Each of the platforms has different characteristics but generally have very good national coverage and allow searches to be carried out, and even give valuations from available data on any sites for development property in their database.

4.0 National  & Local Agents

The large estate agencies such as Hamptons and Savills have large databases of available properties and advise clients on the most suitable asking price to set for their client on either residential or commercial properties.

4.1 Residential Agencies (Local)

Some local residential owners would prefer to deal with a local estate agency, and some of them build up specialist knowledge and repeat clients.

4.2 Commercial Agencies (Local)

Some local commercial owners would prefer to deal with a local estate agency, and some of them build up specialist knowledge and repeat clients.

Commercial agents are more amenable to creative finance and unusual offers, as indicated by their commercial signboards which indicate “All Enquiries”, rather than “For Sale” or “To Let”.

5.0 Business Sales Agencies

Sometimes businesses that are for sale, may have property assets that are suitable for redevelopment, so agencies selling business on behalf of their owners may be approached for discussions about the acquisition of the business as a whole or the property assets separately.

6.0 Business In Administration Or Liquidation

In some cases, businesses that become insolvent may have a property that is suitable for development and so an approach to the Administrator.

7.0 Conclusion

Sites suitable for sites for development may be acquired from numerous sources, and no one source is necessarily better than another. One common factor across all of the above methods is the value of building personal relationships with vendors and agents alike. The way you conduct negotiations can make all the difference whether you are able to conclude a deal or not.