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Downloads
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Downloadable
FAQ's |
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Downloadable
Brochure |
FAQ's -
Fequentally Asked Questions
What
are the different types of
land?
- Green
Belt is a planning policy tool which aims to prevent urban sprawl by
keeping land permanently open. Generally speaking, Green Belt comprises
countryside which is used for agriculture, forestry or other, similar
open uses. When defined, Green Belt can shape patterns of development
and ensure that development occurs at locations which have been
allocated by local planning authorities. However, the boundaries of the
Green Belt can exceptionally be changed to, for example, meet future
development needs (Source: 1.4 and 2.7, PPG2, January 1995).
- Greenfield
is land that has not previously been developed. It includes forestry,
agricultural land and associated buildings that have been blended into
the natural landscape.
- Brownfield
or previously developed land is land which is or was occupied by a
permanent structure, including the curtilage of the developed
land and any associated fixed surface infrastructure. There is,
however, no presumption that land which has been previously developed
is necessarily suitable for housing development, nor that the whole of
the cartilage should be developed (Source: Annex A, PPS3, November
2006).
Does
your land have planning permission?
No. We specialise in selling investment land that doesn't currently
have planning permission. By investing in land without planning
permission, the potential value can increase as much as ten-fold if and
when planning permission for residential development is granted. This
is where the greatest profits can be made.
(Source: The Independent, 6th December, 2005).
Do
I hold the day to day control of my plot?
Yes. As you own the plot and it is registered as Leasehold under your
own unique lease agreement and plot title deed with the Land Registry,
you do have day to day control. Obviously, there are restrictions
applied so as not to devalue the site. These are called covenants and
are commonplace in most leasehold agreements / purchases. A common
example would be in a flat or apartment where you would not be allowed
to knock any walls down, and in some cases you are not even allowed
pets.
Why
Leasehold rather then Freehold?
There are a number of reasons why we sell our plots on a leasehold
agreement, and our Leasehold section within our brochure will answer
this in full. It just makes more sense for every reason associated with
our unique business model.
How
long will it take to obtain planning permission?
We cannot guarantee if or when planning permission will be granted. But
Evolution LI Ltd have a vested interest in the project and will aim for
planning permission as soon as it is reasonably possible. Since we own
the freehold to the site, we will look for planning permission for the
entire site at which point we, like you, can enjoy the uplift in value.
Why
buy land as an investment?
Between Spring 1986 and January 2006, residential land values rose at
almost double the rate of property, with residential house prices
rising by 410% whereas land values rose by 764%.
(Source: Housing Statistics Briefing, English Partnerships, September
2006).
Can
I build on my plot?
Please remember this is not a buy to build; you can use your plot for
any lawful purpose because you
own you the leasehold title deed, so long as it doesn't fall under any
of the covenants in place on
the lease agreement. If you are looking for land to build on for your
own purpose, please speak to our
Commercial Manager for any other opportunities.
Do
I own the land?
Yes, you own the leasehold on a 999-year lease which is 'as good as' a
freehold. We will even arrange
our solicitors to make sure the plot is registered at the Land Registry
in your name.
Is
this a Collective Investment Scheme (CIS)?
No, under the FSA guidelines, a property based collective scheme is
deemed to be so, if the owners do not have the day to day control of
their asset. Since you have the full day to day control, this means we
do not fall under the FSA CIS category. Many companies managing their
clients freehold plot or property should potentially be registered with
the FSA as they could be deemed to be running a collective investment
scheme. Through our experience and contacts within the financial
markets, we understand the current rules and regulations and will
continue to monitor the FSA guidance to make sure we do not fall
outside our remit.
Can
I invest in more than one plot?
Yes, of course you can. All investments have differing degrees of
potential profit and sometimes it may be beneficial to take more
exposure in stronger investment opportunities. However we are of the
opinion that diversification is key. For that reason, we also see it as
a good idea to spread your investment over a few different sites. With
a geographically spread portfolio of land plots, the potential of
future development gains is also spread.
Do
I need a solicitor to invest in land?
We want all our clients to have the utmost confidence in their
investment and to be comfortable with their investment decision. It is
for that reason that we offer a fully refundable deposit allowing you
to investigate fully before committing. You do not actually need a
Solicitor to buy land as an investment as it is a very straightforward
process and we are on hand to provide guidance. However, should you
feel the need to obtain independent legal or financial advice from an
independent solicitor or IFA please feel free to do so (this of course
may be at an extra cost to you).
Can
I invest in land if I reside outside the UK?
Yes, but you must use a UK-based solicitor.
What
are the tax benefits to investing in land?
Whilst we are not authorised to give specific tax advice, we believe
currently, if you invest in land, you may be able to attract some
relief from income, capital gains and inheritance tax. Alternatively,
you can invest in land via a SIPP, which allows the land potentially to
increase in value over the years with no capital gains tax. Please note
that tax laws can change. We are working with Williams Giles who know
and understand our product and we would be more then happy to make a
introduction to them for you.
Can
I sell my plot?
Land as an investment should usually be viewed as a medium to long-term
investment. Of course, you retain the day-to-day control and
we
understand that unforeseen circumstances can occur at anytime. For that
reason, as you own the leasehold, you are entitled to sell your plot /
plots as you would with any property. You should note that any new
buyer will subject to any restrictions / covenants just as you were. Of
course, selling your plot early can have a negative impact on
longer-term investment plan.
What
are RSS and LDF plans?
A Regional Spatial Strategy (RSS) sets out the broad development
strategy for a region for a fifteen to twenty-year period. The RSS
identifies the broad strategic locations, as well as the scale and
distribution of new housing, priorities for the environment, and other
matters including transport, infrastructure, economic development,
agriculture, minerals and waste treatment and disposal (Source: 1.3,
PPS11 and 37, PPS3).
A Local Development Framework (LDF) is not a statutory term; however,
it sets out, in the form of a portfolio, the local development
documents which collectively comprise the spatial strategy for the
local planning authority's area. Essentially, the local development
documents apply the requirements of national planning policies and the
Regional Spatial Strategy (RSS) on a local scale.
The LDF include a policy which sets out the strategy for the planned
location of new housing and identifies specific allocations of land for
particular uses and development
(Source: 1.1 and 2.4, PPS12 and 38, PPS3).
What
are your opening hours?
Our general opening hours are 8:45am - 5:30pm, Monday to Friday. During
these times you are able to call our experienced team on the main line
number to discuss your investment requirements. Outside of these hours
customers can leave a message and one of our experienced team will call
you back.
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