Manufacturing sites across the UK are being redeveloped by Richborough Estates, a forward thinking Birmingham based property developer and consultant. The spotlight is on the UK’s housing shortage and owners of uneconomical or abandoned industrial sites could win out in the potentially lucrative brown field ‘gold rush’. Business owners seeking to dispose of their business and land are often unaware of the professional support available to help transform their troublesome sites into truly valuable assets. Business owners who currently have no real intention of selling or relocating could re-assess their property situation and requirements to determine if value can be unlocked. Since 2003, Richborough Estates has been successful UK-wide in achieving a valuable change of use on industrial sites that would otherwise continue to decline in terms of viability, safety and ultimately, value. Whilst large gains can be achieved if industrial land is suitable for a change to residential use or other higher value commercial uses, there are no guarantees and the planning system is extremely bureaucratic and too commonly unpredictable. Richborough Estates is expert in evaluating the prospects of achieving the grant of planning consents and where appropriate, pursue an application to achieve an uplift in value. The organization will also undertake all the necessary work associated with a successful planning application on behalf of its clients, leaving business owners to focus on what they do best, which is running their business. The eternal challenge to Richborough Estates and land owners is time. Depending on the circumstances it can take years to drive a successful application through the planning maze and this delay often determines the formal business relationship Richborough Estates has with each land owner. The services Richborough Estates can provide will depend on the objectives and circumstances of each client. If a landowner is seeking a quick sale then Richborough Estates can purchase the property or land upfront with an additional payment being made subject to achieving a successful planning application. Conversely, a landowner who is flexible about the timing of payment may prefer to maximise their value by entering into an arrangement whereupon a successful application could yield a higher proportion of the gain. Those business owners who operate a working site but nevertheless are seeking an exit from their business over time, may prefer the option of a sale and lease back arrangement. This choice releases equity to the owner up front to invest in the business and provides Richborough Estates with a ‘fighting fund’ to pursue a successful consent. Where necessary, Richborough Estates can also assist with relocation plans to new premises. Naturally, the condition of each site also determines its value, and Richborough Estates employs very experienced professionals with extensive experience in remediating contaminated sites; dealing with unusual ecological issues such as measures for protected species; engineering challenges; environmental issues such as noise pollution and all associated costs. Despite the challenges, there are many hundreds of industrial sites with the potential for substantial gains in value. Finding the right partner with the expertise in planning, negotiation and development is the only way to maximise latent potential. Richborough Estates is perfectly postioned to assist the needs of industrial clients throughout the UK. Interested parties should call the Development Team on 0121 633 4925 or email paul@richboroughestates.co.uk or write to Richborough Estates, Waterloo House, Waterloo Street, Birmingham, B2 5TB |