Pictured: Sarah Reece

Farmers and property owners who have recently obtained planning consent for barn conversions should consider putting them on the market now rather than holding onto them hoping for the market to pick up.

The advice comes from Sarah Reece at Berrys in Shropshire who says owners who wait could risk the planning consent lapsing or requiring renewal.

"If the consent requires renewal at a later date an affordable housing contribution could be incorporated into the consent which, in Shropshire for example, stands at £11,700 per unit at the current time," she said.

Other councils will have different rates and policy.

"The development property market is showing little sign of improving significantly within the next few years so barn owners need to weigh up their options and analyse what will be the benefit of waiting.

"In many cases they may be best to offer their barns on the market now and see if there is a developer willing to proceed," she says.

"Developers are still looking for property but it is all about timing. Developers aren't land banking anymore. Before buying they will want to have secured the sale of the site they are working on so that the cash is available to move onto the next project.

"Times have changed. The property market is still uncertain and borrowing is difficult under the extremely tight lending criteria now being laid down by the bank," she added.

If you have development property with planning consent and are considering your next move, contact Sarah Reece or Chris Jones at Berrys' Shrewsbury office to discuss your options on 01743 267068 email sarah.reece@berrybros.com or visit www.berrybros.com