It is well known that land with planning permission for development can achieve a far higher price than farmland. At the time of writing, agricultural land in England is being sold for approximately £10,000 per acre, whereas land with planning permission for development could be worth more than £2,000,000 per acre in some areas. However before development can actually begin, vacant possession of the land in question must be achieved. Whether you are a landowner wishing to diversify, or you have perhaps inherited or are interested in buying or selling agricultural land, it is important to understand the different types of agricultural tenancies and the ways they may be bought to an end. Here at BHW Solicitors our team of experienced agricultural law solicitors are able to guide you through what can be a confusing and complex area of law.
It has been estimated that at least 250,000-300,000 new homes a year need to be built in order to meet the UK housing shortage, and all major political parties are agreed that housebuilding is a priority. One of the reasons demand has outstripped supply is the apparent lack of suitable land in desirable areas on which to build. Farmland is valuable, but farmland with residential planning permission is even more so. It is no wonder then, that many landowners are tempted to sell for development. Here we look at some of the main points to consider. [Read more…]