Our Approach
We have experience and understanding of the market which is crucial to ensuring the maximum financial return is achieved on a piece of land.
At Leander Developments we organise our Project Types into three categories:
Project Type A: Joint Venturers
As an example of a Project Type A, Leander Developments purchased a brownfield site in Holcombe, in Devon, and secured planning permission through two applications and two planning appeals. We then set up a joint venture with a large regional house builder to deliver 35 new homes.
In examples like this we will secure an interest in the land via an option or outright purchase. We guide the land through the planning process at our own financial risk, and it’s only when planning permission is granted that the transaction for buying the land from the owner completes.
In order to get the right planning permission for the land we investigate the local market to identify the right type of housing for the area, to maximise the value of the land. This understanding of the local housing market is crucial in ensuring the commercial viability of the project.
When we set up joint ventures with regional housebuilders, it means we remain invested in our projects until the last house is sold.
Project Type B: Development Enablers
Leander Developments worked as a Development Enabler when we purchased a 1930s property with a substantial garden, in the Hartley area of Plymouth. We gained planning permission to demolish the existing property and construct seven new homes in its place.
The economy of scale means projects of this size are not financially viable for regional house builders. Therefore we are able to step in, usually buying the site ‘subject to planning’, which is quickly secured, and then fund work in progress to enable smaller house builders to take on these projects. In doing so, smaller house builder assume the role of micro joint venture partner.
With the smaller projects we have a greater involvement in the quality control of the build, and managing the selling of the homes, and supporting the micro joint venture partner throughout the process.
Project Type C: Land Promoters
After gaining planning permission to develop more than 200 homes in Okehampton, we were able to sell the site to a national housebuilder. While larger developments of this size can attract attention from national housebuilders, there is a tendency for them to be reluctant to take on projects in more rural or less fashionable areas.
Leander Developments takes a more dynamic strategy on such projects. As in this case, we are able to realise the long-term development potential of sites. This means that once planning permission has been granted, we can either sell the entire scheme to one large housebuilder or break up the scheme into smaller development phases that can be constructed through us managing multiple Joint Ventures.
