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Development land activity positive

Development plots across Shropshire have gone under offer as the county sees improved activity in sales of land for development.

Balfours property professionals report exchanges at Pear Tree Lane, Whitchurch and Mytton, near Shrewsbury, with others close to fruition too. However head of sales at Balfours says preparation is key to anyone launching development land to the market.

“Details must be ready up front, with full information available to developers. The planning portal doesn’t give a developer the full picture. The devil is in the detail and it is important that clear information is available regarding site utility services,” says Mr Main.

Another factor currently driving the market is proximity to population and amenities including shops, schools and restaurants: “Developers want to be confident of sales and sale rates are of course key to cash flow. Home buyers are more likely to seek convenience,” he adds.

As Shropshire Council claim to have a full five year supply and as prices are static there are an increasing number of sites available. “Developers are buying when they need a new site rather than when one comes available.”

Mr Main adds that for developers’ size matters: “Local builders are seeking a manageable, two to 15 plot development, while the nationals are happy to take on 100 plots plus. Regional builders will take on land offering ten to 50 plots; the gap in the market is 30 to 80.

“We are experiencing growth in the development market, however it still has to be viewed with caution – and that is why factors including size of site and preparation of information are key to success,” he concludes.

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