Commercial property law firm, mfg Solicitors, has urged brownfield site owners to explore energy generation and storage facilities as diversification opportunities.
Phil Hunt, a senior associate at the firm, has been advising on possible rental income. He said that the current energy crisis and fears around climate change mean that now is the perfect time to consider developing underused land.
“First and foremost, the definition of a brownfield site is wide-ranging, so I’ve been urging landowners to investigate if their parcel of land could be successfully transformed into something more useful to them and the wider community.
“There are untapped opportunities across the UK on brownfield sites. Overall, it’s important to establish early on if the site is viable and think about the conditions which will be required for the development to proceed. Often the tenant will be required to obtain the planning permission for the development, the necessary grid connection and other equipment depending on the type of site. Landowners also need to consider adjusting any existing occupational arrangements so that the land can be used for this alternative use.
“Landowners may also want to consider approaching neighbours who own adjoining brownfield land to see if there is potential for cooperation in being able to market a larger site.
“The Labour Government has declared its commitment to the development of grey field sites, and it will be interesting to see what effect this will have on the area of energy site development.
“Now is the ideal time to get involved with this niche, fast-growing and fast-changing market.”
For more information go to www.mfgsolicitors.com