It’s absolutely phenomenal. The value of Princes Parade, Hythe has risen dramatically. In March 2018, the land was worth a maximum of £80,000. After Princes Parade received outline planning permission the site, as of March 2019 has been revalued at £9 million. However, it is not just Princes Parade which has jumped in value.
The agricultural land at Otterpool benefited from a significant increase in value of £21.9m, from £5m to £26.9m to reflect its current market value for housing development. This unrealised gain in value for the site is seen as a highly encouraging indicator for the council’s involvement in the proposed development of the Otterpool Park Garden Town.
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