Deals/activity/carpe diem Rodney21 Apr 2021 10:01
Here's my take on the current land market (I'm in it, it's my job - just as a reminder) and why I feel it's a good time for Inland to be acquiring sites (either for them or their clients). There's a lot of activity out there at the moment because of a combination of factors; 1) lockdown has given people time to think what they want 2) lockdown has made people's minds up 3) corona has focused the minds, for some, on 'seizing the day/carpe diem rodney......' 4) brexit has happened and so far it's not as bad as people think 5) the govt's favourable stance on planning - 'we're going to build our way of this decline' helps massively with capturing consents (planning is a huge fly in the ointment, always will be, always has been, unless the entire system changes.....and even then, it'll never be flawless......it simply can't be imo) 6) whether you're buying in the country or city - there are lots of arguments in favour of buying in both areas presently 7) sales values are steady or anticipated to climb over the near term/mid-term (ignore the lack of supply in the 2nd hand mkt and the stamp duty precipice leading to short term price spikes for the moment) 8) there's a bucket-load of money looking for a return 9) mortgage rates are cheap and govt incentives for 1st time buyers are still in place and 10) there are alot of business-owners that are coming up for retirement and corona has brought everything to a head - plenty of them are selling up or rationalising and that means commercial property/yards/sites are available......but you've got to get out there and contact them to find out (not advertised). Agents will be doing this, I'd expect Inland to be doing this. I've been writing 400-450 letters a month (I've found and assessed each site, gone to land registry, worked out whom owns it, written the letters etc etc). There's a consistent message out there and that is; people are prepared to sell. Wicks knows what he's about. He'll be busy at the moment (it's a pity Paul Brett, land director, left - you need bums on seats to speak to as many people as possible imo).
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