How to find land with real potential
Mike Dade reveals what it takes to spot a golden self-build or renovation opportunity
This contemporary scheme by Designscape Architects (
www.dscape.co.uk) replaced a tiredlooking 1950s bungalow. The new dwelling makes the most of the stunning plot with full-height glazing and an exterior materials pallet that blends sensitively into the landscape
Potential is something of a holy grail in property circles. Find it, and you can reap huge rewards. But these opportunities come in many forms and even when you identify one, it doesn’t necessarily mean that you can turn that vision into a reality.
What is real potential?
When we use this term while talking about land, what we really mean is unrecognised scope – the chance for the property to be used in a more beneficial way than it is at present (or than whatever use it currently has planning permission for). A plot without consent might have potential for a house, or a site with approval for one home may have space for two.
The same goes for existing dwellings, where there could be an opportunity to profitably demolish and rebuild, refurbish or extend. To qualify as real potential though, a contender needs to fulfil two criteria. Firstly, there must be a genuine likelihood of success, and secondly, the plot’s scope isn’t fully reflected in the price.