How to Capitalise on Unused Land

If you own land that’s not being put to good use, whether you inherited it, purchased it or have finished whatever you were previously using it for, you may be wondering how to make money out of it – guest post by Charlotte Murphy

Sure, you could sell it off to a developer, but perhaps you want to hold onto it for sentimental or practical reasons, or you want to turn in into a long-term investment opportunity. Luckily there are lots of ways to do so, some of which don’t require too much effort.

Factors like location and terrain will play a role in what your land can be used for, but we’ve listed five options that should be achievable unless your land is particularly remote or extreme, and broken down what you should think about before choosing them. Whatever you do, remember to check local planning rules if you want to change what the land is used for.

Rent out storage space

This is an excellent option if you don’t want to spend much time developing your land. An easy way to get started is to look into buying or renting old shipping containers – these are increasingly affordable, and you should be looking at a healthy return on investment.

You should think about who you’re marketing the space towards. Are you targeting local people, businesses, or both? This might affect how much space you need and what you want to buy. It may help to gauge local interest before you make any purchases so you end up with a service people actually want to use.

You’ll want to consider how easily people can access your land or if you will need to let them onto it; who is in charge of keys; what hours you are willing to be available for assistance; who is responsible if items in storage get damaged or stolen; and whether you need to provide services such as CCTV.

You should not need planning permission to put shipping containers on land in the UK since they are classed as a temporary structure. However, you should always check with your local authority before making a purchase since specific conditions may apply to your land.

Rent out office space

This requires more effort, but again can be made easier with a shipping container, and could provide a good profit over time. This time your shipping containers will obviously need to be renovated to an acceptable standard, though they can be purchased this way and it will be up to you and how much you plan to charge as to whether you provide things like furniture, decorations and cleaners. You also need to consider whether you can provide parking, wifi, heating and other basic services – in other words, are you going to be the office management company, or just the land?

Host events

This option can require anywhere from minimal to maximal effort on your part, and will depend on the nature of your land. Could it be used by local kids’ groups that need a place to run around for a day? Are you in a desirable enough location to host campers? Is it pleasant enough to host a wedding? If so, what facilities might you need to add? Think power sources, toilets, good photo spots.

If you have enough space then events organisers may be interested in using your land for gigs, festivals, drive-in cinemas or other events, in which case they would likely take care of all of the logistics for you (and pay you well for it).

Generate green electricity

While solar panels can be mounted to buildings, you have probably also seen large fields of solar panels that are ‘ground mounted’ – AKA they sit on the ground. These are easier to install and maintain than roof-mounted panels, and usually generate more electricity because they can be titled to get the most possible sun. If you don’t have a building or business nearby you want to power, look into how else you could make money – do you have space for wind turbines, for example? You will get the best results by consulting with a specialist on the best use for your land.

Rent out allotments

While it’s unlikely to be a huge money-maker, breaking your land up into allotments can be lovely as it’s low-impact and you get to see it flourish. Demand for allotments among city-dwellers is on the rise, but they are usually popular outside of urban hubs too. You may want to do some research into existing options to get an idea of demand. If the land is already used for agricultural purposes then you probably do not need to get planning permission, but if it’s not then you will need to see how much work it will need to be suitable for budding gardeners to use.