N
Neil Mangan
New Member
Hi,
I have a question for you more experienced developers .
I have done several small developments (1-15 units ) but an opportunity has come my way for a much larger site .
The potential GDV is £9.5-11 million.
There is no planning on this site, yet . It is in a very good location . We paid an independent planner to asses the site and he agreed too.
For me the only issue is for the guy who is selling. Nice guy. He is NOT the owner and has an option until Dec next year . He wants to sell the site with the option for £5.5 million. Bearing in mind nothing has been agreed with the city council for planning
I believe there is an oversupply of student and social housing in the area and we would therefore build for PRS. (350 to 400 units ).
With this in mind would any of you guys purchase the site ?
I have a question for you more experienced developers .
I have done several small developments (1-15 units ) but an opportunity has come my way for a much larger site .
The potential GDV is £9.5-11 million.
There is no planning on this site, yet . It is in a very good location . We paid an independent planner to asses the site and he agreed too.
For me the only issue is for the guy who is selling. Nice guy. He is NOT the owner and has an option until Dec next year . He wants to sell the site with the option for £5.5 million. Bearing in mind nothing has been agreed with the city council for planning
I believe there is an oversupply of student and social housing in the area and we would therefore build for PRS. (350 to 400 units ).
With this in mind would any of you guys purchase the site ?