No matter what comes of the upcoming general election, it’s clear that brownfield development will be front and centre of any new government’s housing policy. Paul Curtin, head of land at Countrywide, explains how not all brownfield sites are the same and how to determine the true value of a site.
Amidst a backdrop of chronic housing shortages, the government has intensified its focus on brownfield regeneration as a viable solution. Both Labour and the Conservatives have outlined a brownfield-first approach in their manifestos for the upcoming election. The release of funds and the establishment of the brownfield register signify a concerted effort to unlock the latent potential of these sites, which can gain easier-won support from residents and authorities.
In the dynamic landscape of property development in the UK, the allure of brownfield sites is increasingly becoming apparent, especially on the outskirts of high-demand urban areas.
With the challenges associated with building on greenbelt land, brownfield sites with the potential to accommodate housing, situated on the periphery of sought-after locales can hold immense value.
The aftermath of the pandemic has catalysed a shift in buyer preferences, with a pronounced emphasis on space and lifestyle choices. This shift in thinking has compelled developers to reassess their strategies and align with evolving consumer demands, making brownfield sites a compelling option due to their potential for expansive and innovative development projects.
However, it’s essential to acknowledge that not all brownfield sites are created equal. Location remains paramount, and while brownfield redevelopment holds promise, the intrinsic value of a site hinges on its strategic positioning within the market.
Prime opportunities within this landscape are sites poised to capture the overflow from densely populated areas constrained by stringent greenbelt policies.
These sites offer a strategic advantage, enabling developers to cater to pent-up demand while circumventing regulatory barriers associated with urban expansion.
The sites also offer huge benefits to their community. They breathe new life into what is more often than not an eyesore to neighbours and residents, transforming redundant and dilapidated buildings.
As a seasoned land-selling agent, it’s crucial to recognise the nuances of the market and steer sellers toward opportunities that promise optimal returns. By leveraging expertise in identifying high-value brownfield sites and articulating their investment potential, sellers can attract keen interest from developers eager to capitalise on emerging opportunities.
In conclusion, the rise of brownfield development in the UK presents a compelling narrative for sellers seeking to maximize the value of their land holdings. By understanding the dynamics driving this trend and emphasizing the inherent advantages of strategically located sites, sellers can position themselves well in an increasingly competitive landscape.
