To sell our land for millions...

[Rosebyanothername19]

Long story short, we baught a house and some land along with it as we had got wind that they might be planning to build houses on it and other surrounding land and we didn't want other houses directly around ours.

We were then told by the local council that there was no chance as it had been rebuffed a number of times and wasn't going to happen. So felt a bit like we had wasted our money.

A few months later we find out that our land is the only land in the area that has been put forward for planning permission, so is potentially worth millions if sold for housing. But also a relief that we baught it so it can't get built on without our consent.

We could sell the land and the house and buy something else. In a way, we have possibly won the lottery. But we love the house and the whole reason for buying the land was so there wasn't houses on it!

So wwyd?

AIBU?

YES: Don't sell the land
NO: Sell the land and the house and buy something else.

[LunaLula83]

Sell it all to a developer and move.

[flowerycurtain]

Check your purchase docs v v closely. I'd be really surprised if the liquidators sold without some form of claw back meaning you don't get all the millions!

[Agiftofknives]

I!d be surprised if there wasn’t an “overage” clause on the land lasting for many years.

[billybagpuss]

There is often an uplift clause in any land purchase in the event of future planning permission, often 25%.

What is the area like, the only reason the Lake District still exists as an area of outstanding natural beauty is because Beatrix Potter bought many of the farms to keep them out of the hands of the developers, then gifted it to the national trust.

I think you should go with your gut, if you love the house and the area and it fits you and your lifestyle, sit tight and enjoy your land. As a pp said there could well be decent business opportunities to be had, glamping, I’d put in a secure dog field.

Or if the area is average and needs the housing, get the planning yourself and go for it.

[Panicmode1]

If it has been allocated in the Local Plan, you will be inundated with letters from land buyers/developers. You may be better off optionng it to a land promoter who will get planning permission on it, and then sell to the highest bidder, splitting the profit with you. Chances are you will get more that way as a developer will be trying to buy your land for the cheapest price possible.

Your land will not be compulsorily purchased by a Council unless you are on land marked for a new road/railway for example.

No one can force you to sell. It would just be removed from the SHLAA/Local Plan on the next round.

[nicebreeze]

@Whatthebloodyell

Sell. If your Area requires more houses to be built and your land is the best potential Location , then it is the best thing for the community as a whole that the houses get built there. People need places to live. With your millions of pounds of profit I’m sure that you can find somewhere else to live.

Exactly this

[nicebreeze]

@Lockheart

I can't imagine how tempting it must be, but from the POV of someone who doesn't stand to gain at all, I would say don't sell it.

There's too much green space disappearing under concrete and tarmac for new identikit cramped homes. And we're all paying the price in poorer air quality, biodiversity, increased flooding risks, and so on.

Depending on how much land there is, I'd suggest rewilding it, planting wildflower meadows, putting in ponds, planting trees etc.

Given the current housing crisis, I'd disagree with your comment about "too many" homes appearing

[WhateverJudy]

The council need to establish ownership of the land and willingness of the owner for it to be developed, before they allocate the land. If they allocate it and the owner isn’t interested, and that happens for several of the sites in the local plan, the housing target rapidly becomes undeliverable. As part of the process of assessing the site options they have, they will assess information about ownership and deliverability. Has no one from the council contacted you about this?

[junebirthdaygirl]

Have friends who sold land when it was rezoned like that. Now have a holiday home and a boat plus a lovely new house.
Sell!! But not until you see a house you like in your area.

[nicebreeze]

"There aren't enough houses. But we should address that by clamping down on second and holiday home ownership, buy to let landlords, and by building residential properties on brownfield sites.

Not by building on green fields."

Lovey ideas. In the meantime, people need homes.

[WhateverJudy]

@GreenlandTheMovie

Don't sell it for yet another brain dead housing estate. Preserve the land and protect it from development.

Do you have kids, out of interest? Where are you imagining that they will live in the future? We are in a huge housing crisis in this country and I’m always astounded how few people understand that. Our island is overcrowded and the only way to protect all greenfield land from development is to build upwards and have people living in awful high density developments with no outside space, or for people to live in overcrowded multi generational households. Or I guess we could all stop having children. It’s all very well for those of us with a home to bleat about protecting all land from nasty new development but how exactly do you propose to resolve the housing crisis we’re in?

[SchadenfreudePersonified]

If you love the house, keep the land.

You can always change your mind if further down the line you decide you want to move to another part of the country or whatever.

You land won't lose its value, but you might regret selling.

[WhateverJudy]

@nicebreeze

*"There aren't enough houses. But we should address that by clamping down on second and holiday home ownership, buy to let landlords, and by building residential properties on brownfield sites.

Not by building on green fields."*

Lovey ideas. In the meantime, people need homes.

Brownfield sites are often of no interest to developers because they’re totally unviable to build on.

Cracking down on buy to let landlords would do nothing to increase the number of properties available. Many people need rentals, not everyone is in a position to buy.

Second home ownership I agree is a problem but it’s a minuscule part of a huge problem and banning second homes would be a drop in the ocean.

[Stillgoings]

Reminds me of the film Local Hero where the locals are rubbing their hands with glee at the thought of selling up and making all the money. Mind you in the end they don't and that's the happy ending...
I don't know, millions would be very tempting to me.

[Aerielview]

Sell up and buy/build your dream house. I would do this in a heartbeat

[CakeRequired]

If.this is in a village and there is strong.local opinion against developing the land around your village then be prepared to move away, it could be quite tough being that person in a small locality.

This.

Kind of sounds like you've found out like neighbours have, bought the land and said that now the houses can't be built. Now you've found out how much its worth, you want the money and almost want permission to sell it.

Sell it if you want. Just know that you are ruining your old village with a big housing estate, likely there will be no upgrades in other facilities like schools, shops etc so the whole village will suffer. But you'll have your millions so you're fine. Just don't stick around, they will all literally hate you.

[nicebreeze]

@GreenlandTheMovie

Don't sell it for yet another brain dead housing estate. Preserve the land and protect it from development.

If that site has been allocated it because it's more sustainable than other available land, and is possibly less valuable in other ways (ecological, heritage, etc.). By stubbornly sitting on a developable piece of land (presumably right next to a settlement anyway) all you'd be doing is forcing the houses onto another, less appropriate bit of land.

[RuggeryBuggery]

How would the neighbours feel?
Wondering if there would be any backlash from the community in which case if you’re going to to it, might be best to do it when you’re ready to move to a new area!

Also surprised that the planning thing wasn’t taken into account when you bought it thus making it very expensive. Seems very odd and whoever sold it to you will not be happy

[nicebreeze]

@ParlezVousWronglais

I would definitely stay so I could live in some unspoilt countryside with no other houses too near to me. Plant trees and a meadow and grow vegetables and fruit. That’s my dream.

I’m sick of developers destroying the land tbh.

Aah, the age old "I'm alright, Jack"

[changedmynamelol]

No idea sorry . Although it's quite outing. Would be easy for somebody to know it's you irl.

[PinkyParrot]

I would sell up as there is a risk the land around your land is built on - maybe supermarket, maybe school so lots of traffic. Better to sell your land and get out.

[RuggeryBuggery]

Also remember to take into account the negative price impact on your house of being next to a develepment, you might be left hated by the community and unable to sell your house!

[LuckyJaney]

@SeaToSki

Being dyslexic isnt being bad at spelling, its having a brain that cant process phonemes in the way that most people can. If using a funny mnemonic to aid memory works, then it works

Half right, but not quite @SeaToSki

Most people who are dyslexic have problems spelling [25 years as a dyslexia specialist, assessing and teaching.]

[LuckyJaney]

OP I think you are a long way from being millionaires.

Lots of things could go wrong before then -like locals objecting and it going to an appeal and being refused.

Happens all the time in my village.

The people you bought from must have sold out too cheaply if they are someone had applied for PP and the potential was there all along.

Your house should have been valued and sold with that potential in mind.

[Backbee]

Given the current housing crisis, I'd disagree with your comment about "too many" homes appearing

There are plenty of houses. Just not enough affordable ones, and few controls over landlords who own multiple properties. If they sorted that out there wouldn't be the need to keep building.