Thinking about buying some land from us? Here's the process behind land sales...
As a tenant-led, not-for-profit organisation, our aim is to manage our income so that we make best use of funds to provide excellent services for all our customers and the local communities where we work. We take pride in our work and we operate openly and fairly to build trust and mutual respect between everyone we work with.
We own lots of land that we know many local people are interested in, so to protect our customers and make sure the land is used in the best way for communities, we have set out a clear policy for dealing with any applications we receive to purchase land that we own.
In summary, before we decide on a land sale, we will consult any neighbouring Red Kite tenants and leaseholders and relevant Town and Parish Councils.
Any application to purchase land will be declined if:
- The sale of the land negatively impacts or prevents our plans for neighbourhood regeneration
- If we wish to use the land for the development of new homes
- The sale of the land would prevent development of adjacent land whether owned by Red Kite or not
- The land provides access to properties or land in the ownership of Red Kite.
- There is a greater community benefit to the retention of the land or property
The land value will be fully assessed and we will get a valuation from a qualified Royal Institute of Chartered Surveyors (RICS) valuer. The valuation will be based on the maximum commercial use of the land not the purchaser’s intended use for the land once acquired.
One of our conditions of selling land is that in addition to the sale price all costs relating to the purchase of land from Red Kite must be covered by the applicant. This prevents our tenants and leaseholders paying unnecessary costs.
Costs typically include:
- Valuation fee
- Fee for the preparation of the Legal Plan
- Solicitors fees
- Administration fee
Fees will be confirmed once an application is received.
Please note that applicants are responsible for checking with all statutory authorities that their plans for the land are allowable. Red Kite will not provide any warranties for land sold. All land is purchased at the applicant’s risk and we reserve the right to decline an application to purchase land.
If you would like to read our Disposal Policy in full a copy can be found here.