This weeks Nottinghamshire Property Blog is all about land development and the different investment opportunities a plot like this can deliver. Whether you are a seasoned investor or just starting, there are options to suit most developer/investor experience levels.
This week I’m discussing a plot of land in the village of Jacksdale, NG16 5JF. Savills are currently marketing this plot on behalf of Ashfield District Council.
The plot is 5.34 acres and is broadly rectangular. Although there is a band of trees and vegetation separating the site into two distinct parts, an existing pathway links the two sections. Due to this, site clearance costs will be a consideration. This particular plot has an allocation of 57 residential units subject to planning. Having various levels across the site, I would strongly advise any interested investor to undertake their site visit to understand the topography.
The key features of this plot are:
- Subject to planning
- Close to Jacksdale village centre
- The site is offered freehold with vacant possession
- Allocation for 57 residential properties
- The informal tender deadline is the 8th November 2021
- Guide price – offers invited
Located on Westdale Road, a nice residential area, the plot is surrounded by residential properties occupied by families. The site is located approximately 14 miles northwest of Nottingham. There are nearby schools; for example, Jacksdale Primary and Nursery School is located around 0.5 miles to the southwest of the plot. There are also other amenities nearby which you would expect within a residential area, such as bus links, local shops, and a GP surgery.
I understand that mains water, electricity, and drainage are available in the vicinity. Still, again I would suggest interested investors should undertake their inquiries about the capacity, connectivity, and exact location of services.
- The main three investment opportunities with site as I see it are:
- Purchase/option to purchase without planning at a relatively low price. Obtain planning and sell on to a developer at a profit.
- As in 1) above and build out using a main contactor – this limits your risk but is more costly
- As above and build/manage the build yourself – more risk can produce a higher profit.
If this seems like an investment opportunity to you, here is the link to the plot of land marketed on Savills website:
I would love to know if you secure this site and what you do with it.