What are you thinking - constructing new homes under high voltage power lines is okay?
Scenario: You are smarter than the average developer/builder and have found a spare plot of land or one ripe for redevelopment and think you are well placed to turn a profit. There is only one 'fly in the ointment'; it is under or close to overhead high voltage power lines or a substation. Could exposure to electromagnetic radiation (EMR) be an issue?
You have looked into the legal situation and established there are NO UK laws or guidelines whatsoever preventing you from going ahead. Naturally you try to sell off-plan as much as possible and you will have fulfilled your 'affordable housing quota' with the less attractive plots. Even so, some properties fail to sell. Encouraged by interest and sales already made, you complete the development as new homeowners move in. With luck you will be able to sell the remaining properties and still make a profit even if you have to reduce some prices. If prices of slow-to-sell properties are reduced too far however, prospective buyers may ask 'Why?' New homeowners within the development may conclude that they paid too much and the value of their property might not be what they had hoped.
In the real world of 2019, public awareness concerning the adverse health dangers associated with high voltage power lines is growing, as rightly it should and people are voting with their feet. Nobody wants to invest in a property that is intrinsically unsafe and for which they may have difficulty attracting buyers when, sooner or later, it comes time to sell.
The acceptance of risk and the consequences of a decision to buy or not is one that prospective purchasers and their families will have to live with. As the developer, you will likely move on to other projects safeguarded by the officially maintained status quo and inadequate advice from The W.H.O. - World Health Organisation and Public Health England - P.H.E.
People are increasingly rejecting the hollow reassurances of sellers and estate agents; 'Pylons? - They’re not an issue. The Government has given them the all-clear.' Even cleverly framed 'artists impressions’ or photographs may be insufficient ‘guarantees’ when a simple drive-by provides enough due diligence for buyers to look elsewhere.
In the present uncertain climate The Precautionary Principle remains sound and savvy buyers are increasingly unwilling to accept the risk. Caveat Emptor - Buyer Beware remains as true today as it ever was.
Developers and builders may benefit from an early investigation before investing time and money in potentially compromised properties or land. Likewise, where EMR might be an issue, Purchasers can save expense and heartache by engaging a qualified EMR surveyor early in the buying process.
Knowledge Is Power:
Emerging understanding informs the future.
-----
Scenario: You are smarter than the average developer/builder and have found a spare plot of land or one ripe for redevelopment and think you are well placed to turn a profit. There is only one 'fly in the ointment'; it is under or close to overhead high voltage power lines or a substation. Could exposure to electromagnetic radiation (EMR) be an issue?
You have looked into the legal situation and established there are NO UK laws or guidelines whatsoever preventing you from going ahead. Naturally you try to sell off-plan as much as possible and you will have fulfilled your 'affordable housing quota' with the less attractive plots. Even so, some properties fail to sell. Encouraged by interest and sales already made, you complete the development as new homeowners move in. With luck you will be able to sell the remaining properties and still make a profit even if you have to reduce some prices. If prices of slow-to-sell properties are reduced too far however, prospective buyers may ask 'Why?' New homeowners within the development may conclude that they paid too much and the value of their property might not be what they had hoped.
In the real world of 2019, public awareness concerning the adverse health dangers associated with high voltage power lines is growing, as rightly it should and people are voting with their feet. Nobody wants to invest in a property that is intrinsically unsafe and for which they may have difficulty attracting buyers when, sooner or later, it comes time to sell.
The acceptance of risk and the consequences of a decision to buy or not is one that prospective purchasers and their families will have to live with. As the developer, you will likely move on to other projects safeguarded by the officially maintained status quo and inadequate advice from The W.H.O. - World Health Organisation and Public Health England - P.H.E.
People are increasingly rejecting the hollow reassurances of sellers and estate agents; 'Pylons? - They’re not an issue. The Government has given them the all-clear.' Even cleverly framed 'artists impressions’ or photographs may be insufficient ‘guarantees’ when a simple drive-by provides enough due diligence for buyers to look elsewhere.
In the present uncertain climate The Precautionary Principle remains sound and savvy buyers are increasingly unwilling to accept the risk. Caveat Emptor - Buyer Beware remains as true today as it ever was.
Developers and builders may benefit from an early investigation before investing time and money in potentially compromised properties or land. Likewise, where EMR might be an issue, Purchasers can save expense and heartache by engaging a qualified EMR surveyor early in the buying process.
Knowledge Is Power:
Emerging understanding informs the future.
-----
No comments:
Post a Comment