Found some vacant land? Wondering what to do with it? As land is in high demand in the UK, there are many profitable opportunities. You just have to know what to look for. If you’re looking for some inspiration, here are some profitable ideas you can use for vacant land in the UK.
1. Build Your Dream House
The dream to build your own house is a popular ambition but not many people actually get the chance to make it a reality. If you have ever dreamed about building your own home from scratch, this could be the perfect chance. Look at the land, the location and the views. Can you imagine yourself living there?
At the time, building your own house and living in it won’t fetch a quick profit but if you decide to sell in the future, you could significantly benefit, especially since average house prices continue to rise in the UK.
2. Build Multiple Houses
If the plot of land is large enough, then consider building several houses. The UK is still in high demand for more houses to be built and by securing a good location and quality land, you could make a profitable sum by building and selling multiple homes.
3. Build Commercial Property
This all depends on location. Land that is located close to other commercial outlets and transport links could offer a profit. Building additional office spaces or more shops on vacant land will be quickly snapped up if there are companies in the area looking for rental accommodation.
Do your research beforehand. You don’t want to start building office spaces to later discover there are no companies in the area who are interested in renting or buying.
4. Sell To Developers
If you’ve found some vacant land in the UK but you’re not interested in developing it yourself, look for some domestic or commercial developers.
Buying land that offers lots of development opportunity can be sold at a profit.
5. Get Planning Permission And Resell
Land that already has planning permission can be sold at a higher price. For a quick resell and profit, file for planning permission for the land and then resell.
Word of Wisdom: Do your research into the land before you buy. Be sure that you will attract interested buyers if you secure planning permission. Hiring the services of a land agent can help you learn more about the vacant land you have found.
6. Transform It Into A Carpark
You can transform the vacant land into a healthy source of revenue. Empty land that is located near busy venues (like arenas, theatres, stadiums, festivals, etc) can be used as car parks. People are willing to pay to park their cars in nearby and secure car parks.
When the land is not being used as a car park, you can rent it out.
7. Build A Storage Warehouse
Transforming vacant land into a secure storage unit can be a profitable venture too. Homeowners, businesses and more, rent storage units to store spare belongings and equipment.
Find out if there are any other storage warehouses in the area and determine whether there is a demand for this service.
8. Rent Out To Farmers
Farmers often rotate their fields for growing crops and grazing animals. Many farmers often need access to additional land so their own land can replenish in the meantime. If you’ve found vacant land nestled between fields owned by farmers, you can rent out the land to the farmers when they need to let their animals graze elsewhere. Building good relationships with farmers can promise long-term renting opportunities for your land.
Want To Make Money From Buying Land?
There are plenty of people in your position. There’s money to be made from buying and selling land, all you have to do is avoid these expensive mistakes. In our free downloadable guide we list all the golden rules you should follow so you can make money (and not lose money) buying land.