Development Potential Reports
What is a Development Potential Report?
A Development Potential Report provides an assessment of the likely yield, in a planning context, of a particular site. It includes an assessment of all the planning policies and objectives that are relevant to the site, as well as identification of any development constraints and opportunities. It also includes an assessment of relevant planning decisions in the area or useful precedents from elsewhere.
When is a Development Potential Report Required?
A Development Potential Report can be used in a number of ways, most commonly to inform potential purchasers, vendors, developers or financial institutions of the likely value of a particular land or buildings asset.
What does a Development Potential Report Comprise?
A Development Potential Report comprises a full and detailed review and assessment of all policies and objectives that may be relevant to a particular site. These could relate to national government policies and guidelines; regional policies and guidelines; planning authority objectives, standards and requirements; and the policies of other statutory authorities. The Report also highlights potential planning restrictions and infrastructural constraints. The Report includes research and analysis of other relevant planning decisions.
Why is a Development Potential Report Important?
A Development Potential Report helps to establish the likely development yield of land, including the identification of potential threats, constraints and delays. This is important to establish a realistic development potential of a land or buildings asset and helps to inform the potential purchaser, vendor, developer or financial institution of the actual value of the asset and the likelihood and timeframe of realising this value.
What is the Benefit of Using a Planning Consultant to Prepare Development Potential Report?
The ultimate value of land is largely based on its planning potential. Planning decisions require taking account of a wide range of policies and objectives, not only those of the planning authority, but also national and regional policies and other guidelines. The preparation of a Development Potential Report requires an in depth knowledge of planning policy documents at all levels and of relevant planning decisions in the area or, indeed, nationally. Experienced planners have a good working knowledge of all the relevant policies and objectives and are well placed to interpret relevant planning decisions.
How long will it take to prepare a Development Potential Report?
The preparation of a Development Potential Report for a particular site requires a desk study of relevant policies and objectives, as well as a review of relevant planning decisions. A site visit is also normally required. The length of time to prepare a Report will be, in part, influenced by the location of the site and the on-line availability, or otherwise, of planning decision information. Each case is therefore different. Nevertheless, McCarthy Keville O’Sullivan can prepare a Development Potential Report to an agreed timescale to fit in with the client’s deadlines.
How much will a Development Potential Report cost?
Each Development Potential Report is different, depending on the location of the site and the availability of relevant information. The Report is likely to require a visit to the site and may also require a visit to the planning authority offices. McCarthy Keville O’Sullivan can prepare a competitive fee proposal for a Development Potential Report to meet your specific requirements.