Plot Shop Opens Its Doors
If you are a property developer then you may be interested to read that earlier this month the first Plot Shop in the country opened its doors in Bicester to sell plots of land to the likes of self-builders. The plots are on the Graven Hill site that is located in Oxfordshire. The shop was opened by Alok Sharma the Housing and Planning Minister.
Members of the public are welcome to buy a plot of land on which a residential property may be built. This could be done on a self-build basis or it could involve the use of a property developer who could bring in his or her team of tradespeople to undertake the work.
It is worth noting that it is intended that around 1,900 new homes could be built on the site made up of self-build and custom build homes over a period of around 10 years. This means that it would be the largest such development in the UK.
Self-builders will no doubt be seeking mortgage finance to assist in the purchase of a plot of land and towards the building costs. Including custom built properties. Property developers will no doubt require development finance to help them build and sell such properties.
With a shortage of housing in the UK such a shop is to be welcomed. It should help more people who are keen to build their own homes do so whether that is on a self-build basis or whether with the assistance of tradespeople such as builders.
There are many sources of development finance such as banks, building societies, specialist lenders and peer-to-peer lenders. You can spend a considerable period of time trying to find a competitive lending package although is that time not better spent in running your business? Alternatively, for instance, you could contact a finance broker who will try to source a competitive development finance deal.