When searching for property with development potential at auction, we’ve found that preparation and knowledge are your greatest allies. At Town & Country Property Auctions, we regularly see buyers transform overlooked properties into valuable assets across Cornwall and Devon. The key lies in knowing exactly what indicators to look for in auction listings that signal hidden potential.
Property auctions in the South West offer a unique avenue for securing land and buildings with development possibilities, often at prices below market value. However, identifying these opportunities requires a trained eye and understanding of both the region and planning considerations.
Planning Permission Status
One of the first elements we advise our buyers to check in any auction listing is the current planning permission status. Properties may come with:
Properties in the South West auction listings with existing permission naturally command higher prices but offer greater certainty. However, the most significant value can often be found in properties where planning hasn’t yet been sought but has strong potential.
Location Factors
Location remains paramount when assessing development opportunities. We’ve observed that properties with the following characteristics typically offer stronger development potential:
Cornwall and Devon feature many coastal locations where planning can be more restrictive, but these areas also command premium prices when development is possible.
Land Size and Configuration
The physical attributes of a property often determine its development potential. In our auction listings, we recommend looking for:
Building Condition
Whilst many buyers are put off by dilapidation, properties in poor condition often present the best development opportunities. We find that auction listings featuring buildings described as “in need of modernisation” or “requiring renovation” can be prime candidates for comprehensive redevelopment rather than simple refurbishment.
Local Planning Frameworks
Before bidding on any property with development potential in our South West auctions, we strongly recommend familiarising yourself with the relevant Local Plan. Different councils across Cornwall and Devon have varying attitudes toward development types, with some being more permissive than others.
The local planning framework will outline:
Previous Applications
A property’s planning history can provide valuable insights. We suggest checking:
This information is publicly available through council planning portals and can help gauge the likelihood of success for future applications.
Access and Services
Development viability often hinges on practical matters that auction listings might not fully detail. Before bidding, we advise investigating:
These factors can significantly impact development costs and should be factored into your bidding strategy for South West properties.
Conversion Projects
The South West region offers abundant conversion opportunities, with our auctions regularly featuring:
Conversions often face fewer planning hurdles than new builds, making them attractive first development projects.
Plot Splitting
One of the most straightforward development approaches involves splitting larger plots to accommodate additional dwellings. Properties with potential for this approach typically feature:
Change of Use Opportunities
The South West’s tourism economy creates unique opportunities for change of use developments. We frequently see successful projects involving:
Valuation Considerations
When bidding on properties with development potential, we recommend a disciplined approach to valuation:
This method helps prevent overbidding on properties that appear attractive but lack financial viability.
Due Diligence Essentials
Our auction process is designed for transparency, but we always emphasise the importance of thorough due diligence before bidding on any development opportunity. This includes:
By taking these steps before the auction, you can bid with confidence on South West properties with genuine development potential.
The South West property market continues to offer remarkable development opportunities for those with vision and knowledge. Through our South West property auctions, we connect buyers with properties that hold genuine potential for value creation through thoughtful development.