Consented development sites are always a hot commodity. At present much is conspiring against developers including increased debt costs, the removal of buyer incentives, increased labour & material costs, and inconsistent supply chains (and don't get me started on the planning process). Nevertheless, most developers need to keep building in order to make money, and consented sites remain in short supply.
This site ticks the vast majority of the boxes - consent for 20 flats (10 one beds & 10 two beds), smart, contemporary design, no basement, 4 floors, 100% parking, no affordable housing and just 0.2 miles from a decent station. We were instructed to assign the benefit of our client's option just at the point that Truss & Kwarteng were doing their level best to ruin the British economy. We weren't going to let a political implosion derail our efforts though, and successfully introduced a local developer with a strong track record.
Pricing is key at present, and the deal was concluded at £1.45M against a GDV of £6M.
PROJECT ADDRESS: Land to the north of 31-35 Goldsel Road, Swanley, Kent BR8 8HA
