Land for sale in Hemwood Road, Windsor SL4
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An opportunity to purchase the development overage rights over a pre-sold parcel of land at Hemwood Dell, Windsor.
An overage is a term often used in land sales to describe a sum of money in addition to the original sale price which a seller of land may be entitled to receive once the land has been granted planning or development permission.
If you were to compare the price of land without planning permission to land with planning permission, you would expect to see a difference of around 60-70%, so you will often find an "overage agreement" of anything from 25% to 50% and for a varying period of time, say 25 to 100 years.
With an overage of 25%, if the land was valued at £25,000 without permission and is then valued at £125,000 once permission has been granted, there has been an increase in value of £100,000. The new owner of the land would then owe the overage holder 25% of this increase in value (in this case 25% of £100,000 being £25,000).
Purchasing an overage would entitle you to the same terms as the original seller and has the potential to provide a significant return on investment.
* Sizes listed are approximate. Please contact the agent to confirm actual size.
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Barney Estates and Auctioneers, and do not constitute property particulars. Please contact Barney Estates and Auctioneers for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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