Dev Assist

A property purchase is rarely just about the building itself.

The outlook, surrounding land, neighbouring plots, access roads, nearby commercial premises and future planning activity can all affect how a property is enjoyed, valued and eventually sold.

In our latest guest blog, Caroline Roberjot, Partner at Harbottle & Lewis, looks at why development risk should be treated as a key part of property due diligence.

The article explores the risks buyers may not always see at first glance, from allocated development land and permitted development schemes to infrastructure projects, changes of use and neighbouring construction.

It also considers the potential impact on value, mortgageability, marketability and physical damage, as well as the practical steps buyers, lenders and solicitors can take to get a clearer picture before exchange.

Read the full article on our website here: https://bit.ly/4vFrhKn

Thank you to Caroline for sharing her insight on an issue that can have a very real impact on buyers, particularly where the setting, view or surrounding area forms part of the property’s value!

By the time a planning issue comes to light, the client may have already exchanged contracts, completed the purchase, or committed significant investment.

That is why development risk deserves greater attention during the conveyancing process. Not all planning and development risks appear in standard search results, yet they can have a significant impact on a property's future value, enjoyment and marketability.

As development pressures continue to grow across the UK, understanding what may be happening around a property is becoming just as important as understanding the property itself.

Standard search results should not be treated as the full picture. Over 45% of DevAssist reports identify a high-risk development site close to the property, giving lawyers clearer insight into risks that may otherwise be missed. Click the link below to learn more.

https://bit.ly/34kvmN3

Earlier this week, Paul Addison caught up with Lara Squires, Managing Director at Consortium - more than marketing, and Chris Green, Director and Co-founder at Destin Chandler Hawkins Chartered Surveyors.

Over lunch, they discussed how DevAssist and Destin Chandler Hawkins Chartered Surveyors could work together, including potential partnership opportunities and shared areas of interest across the property sector.

Thank you to Lara for helping arrange the lunch. It was a fantastic afternoon and a great opportunity to explore how both businesses could support each other moving forward!