In an effort to make sense of the land values in the city, Mishon Mackay Land & Development thought it might be useful to see how much land you could buy for £1m – the theoretical result is 22m x 22m, or 70’ x 70’ in old money. To put that into perspective the land beneath your feet right now is probably worth £500. Such is the demand for land in the city land values have risen over the last 3 years.
To try and put this in some perspective is a little more complex. Height, location, depth, design, topography and timing all have a bearing on the value of land explains Matthew Hollywood of Mishon Mackay Land in Brighton. ‘Over the past 5 years we have seen land values range from £500,000 an acre to a staggering £8m an acres’; however he quickly caveats these figures. ‘We wouldn’t want land owners in the area to believe that all land is worth £8m/acre however the norm is certainly £4-£5m/acre for a small, high quality, efficient, city centre development of apartments.’
Mishon Mackay Land & Development is the only dedicated team in the city, extending its reach into the rest of Sussex. Based in the companies head office in Hove the team are always happy to provide advice to land owners embarking on any redevelopment proposal. t. 01273 829300 e. email@example.com