PREPARED 1 NOVEMBER 2026 · PRACTICAL GUIDANCE
Define the intended use
Write down the operating or development requirements before comparing sites. Think about access for people and vehicles, space, utilities, drainage, timing and the capacity to investigate the site properly.
Access matters
Confirm physical access and the legal basis for using it with the relevant professionals. A road visible in an aerial does not establish a right of access. Ask what work may be needed for your intended vehicles and use.
Investigate the ground
Commission appropriate surveys and technical checks for boundaries, levels, drainage, ground conditions and environmental considerations. Avoid assumptions about high or low land based only on a photograph.
Assess permissions and costs
Discuss planning and other relevant approvals with the appropriate authorities and advisers. Model infrastructure, professional, finance and holding costs using current quotations, rather than a generic percentage.
Test the business case
Separate current facts from projections. Record the assumptions behind rents, occupancy, construction costs and exit values. Consider what changes if timing slips or costs rise before deciding how much to offer.
Official starting points
Source links checked 1 November 2026. Confirm the requirements for your particular transaction.
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