Do You Have Questions?

Ask anything from our Experts. A list of frequently asked questions to help you understand how it works.

1. Do l need to sell my business to sell my land?

Many of the landowners we work with want to release equity by selling the land their business premises resides on and relocating their business. To facilitate this they either buy another freehold  the proceeds of the sale in a different location or sometimes decide the business can be operated from a leasehold premises instead.

2. How is your service at no upfront cost?

Our team will undertake a full review of the re-development potential of your land and provide an anticipated sale price at no cost at all. We understand that we have to put the work in upfront to demonstrate to you why you should use our services. However we are so confident that you will be impressed by our knowledge and initial advice that we feel it is time well spent.

3. How do l know l am getting best value for my land?

We will never just approach one developer to bid on your land. We will always provide a minimum of three offers from a short list of vetted developers for you to review. Once we have an offer from a credible party we also encourage you to have an independent RICS Red Book valuation of your land undertaken to give you the reassurance you are getting the best value.

4. Land transactions are notoriously complicated, how do you guarantee the process is undertaken in a transparent and professional manner?

Although we provide our opinion on the site value and introduce the developers that buy the property we always encourage you take on your own independent legal advice. This will act as a safety check to ensure you and your solicitor are happy with every element of the sale .

5. Why don’t l just instruct a local estate agent to list my site on Rightmove where it will get the most views and bids?

In property development anyone can make a bid on a site, but only a few have the funds to actually buy a site. We focus on ensuring your site receives bids from credible and experienced developers who can demonstrate funds are in place to purchase your property. Unfortunately there are a lot of time wasters in the development industry – our job is to make sure you don’t have to deal with them.

6. How long will it take for a sale to go through?

This really depends on your business or personal requirements. Optimal Land will structure the land deal to suit you. Some vendors require a quick and certain sale which is more suited to an unconditional sale (ie not dependent on the developer successfully achieving planning). This deal typically takes 2-4 months to go through. Whereas some businesses prefer to do a subject to planning deal which can take up to 2 years which often suits if a company is winding down or relocating their business.

7. Why are Optimal Land experts?

Every member of the team is a professionally qualified surveyor who have worked for developers so know exactly how the development process works. Our expertise lies in our ability to forensically evaluate every element of the deal to make sure the deal works for you.

8. How do you actually value land ie how do you know how much my site could actually sell for?

Valuing land is a complicated process that needs to be undertaken by a qualified professional. The industry unfortunately is often skewed by landowners being presented with unrealistic offers from non credible parties. Just because you get an offer it doesn’t mean that is what your site is actually worth! We value land by undertaking a detailed residual valuation. Put simply this comprises the following;

  • A planning appraisal to evaluate what the scale and use of the new building we believe can be redeveloped on your site will be.
  • We then work out what the value of this anticipated new building would be when fully built ie what all the flats would collectively sell for (otherwise known as the Gross Development Value).
  • Once all costs which are incurred in the development process plus a developers margin are allowed for the remaining capital ‘the residual’ is the land price the developer can offer to pay you for your site.

Please see our blog post which goes into more detail.

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