It means developers of all sizes that use LandTech can now financially appraise, plan and develop properties using the latest valuation estimates and comparables data.
LandTech says that its offering enables property developers to identify, assess and fund off-market development opportunities. It adds that is used by the U.K.’s ten largest housebuilders and has over 2,000 clients within the property industry, including architects, planners, government, local councils, commercial, power and residential developers.
The collaboration with HomeTrack also benefits developers because they will mitigate the challenges arising from the Land Registry’s 13-month lag in the registration of half of all new builds, allowing them to obtain the latest new build comparables, including price per square foot, it maintains. This will help them to accurately price and calculate the gross development value of a site, likely sales rates and other key metrics.
The companies said in a statement that this partnership provides a comprehensive platform on which to evaluate, plan and develop property.
“Our mission, since our inception nearly a decade ago, was to use data and technology to power every element of property development, and this collaboration brings this goal that much closer,” said LandTech co-founder Jonny Britton.
“We’ve always excelled at planning and workflow, and our HomeTrack partnership employing their data will deliver unparalleled comparables data — whether for long term investment, resale or rental yields.”
In February this year, LandTech raised $12 million to expand its product range and develop its U.S. business.