Glossary definition
Brownfield
Previously developed land that is or was occupied by a permanent structure, as defined in Annex 2 of the National Planning Policy Framework (NPPF). Brownfield sites are prioritised for development under national planning policy, and local authorities are required to maintain brownfield land registers.
Definition
Previously developed land that is or was occupied by a permanent structure, as defined in Annex 2 of the National Planning Policy Framework (NPPF). Brownfield sites are prioritised for development under national planning policy, and local authorities are required to maintain brownfield land registers. Lenders generally favour brownfield sites over greenfield due to the more favourable planning outlook, though contamination and remediation costs must be factored into the development appraisal.
See also
Closely related terms.
Greenfield
Land that has not been previously developed, typically agricultural or open countryside, as distinguished from brownfield (previously developed) land.
Planning Permission
Formal consent from the local planning authority required before carrying out most types of development, including new construction, material changes of use, and significant alterations to existing buildings.
Residual Land Value
The value of a development site calculated by taking the gross development value of the completed scheme and deducting all development costs including build costs, professional fees, finance costs, and developer profit.
Further reading
Guides that touch this term.
Guide
Can I Get Development Finance With No Track Record?
An eligibility guide for developers without a completed scheme. We explain which lenders will consider you, exactly what they check, and the lower leverage and higher pricing to expect.
5 min read readReadGuide
Legal Due Diligence in Development Finance: What Solicitors Check
Legal due diligence is the backbone of every development finance transaction. This guide explains what solicitors investigate, common issues that delay completions, and how to prepare your legal pack.
8 min read readReadGuide
UK Development Finance Market Overview: Lenders, Appetite, Outlook
An overview of the UK development finance market, covering the lender landscape, appetite by asset class and location, the trends shaping terms and what developers should expect over the coming 12 months.
9 min read readRead
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