
Market in Minutes: Residential Development Land – Q3 2023
"A relatively weak land market with pockets of resilience"
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"A relatively weak land market with pockets of resilience"
"This year marks 30 years since construction first began at Poundbury, an urban extension to Dorset’s county town of Dorchester. "
"A Local Development Order (LDO) provides specified permitted development rights within a defined area, in addition to those that are set out in the Town and Country Planning (General Permitted Development) Order already. "
"A plot of land of almost 9,000 square meters, originally intended to be part of IKEA's new city department store, has just been sold. The deal was brokered by Savills Denmark and amounts to a three-digit million-euro sum."
"IKEA opens new city store in Copenhagen. More and more people live in the city and choose not to have a car, and we want to be close to them and be more accessible. 700,000 people can reach the city store within 20 minutes."
"Over the last quarter, the development land market has remained price sensitive with fewer land sales. Although there is mounting downward pressure on land values, these pressures aren’t significantly being reflected in the prices being paid for land due to the ongoing lack of land supply maintaining competition in some markets"
"According to Mikkel Andersen, partner in Savills Denmark and responsible broker on the case, it is an extremely exciting development opportunity, as the project is an important part of the new overall plan for the southern part of Roskilde."
"Meanwhile space has emerged as a dynamic solution to repurpose vacant or underutilised properties across the UK. "
"4.6 million sq m of new European office space to be delivered this year"
"The residential land market continues to be slow with limited activity and further softening of land values"