Pocket Living co-founder Marc Vlessing shared key insights on navigating the planning system, keeping concepts tight, and surviving the current economic cycle
Don't start with design. Start with the demographic problem you are trying to solve. Ask yourself “ what is the size of this market, how big is this problem, and then try and work outward from that”. Pocket Living focused on delivering compact, affordable homes for single people and couples in London. Having a concept like Pocket's fixed 37 sq metre flat allows you to push back against unreasonable planning demands that threaten financial viability.
Borrowing wisdom from Berkeley Homes founder Tony Pidgley, Marc emphasizes that success is determined by how quickly you drop options that don't work. Don't waste weeks or months pursuing wrong sites, flawed concepts, or bad deals. Move on quickly.
Land finding is a hands-on, often lonely pursuit. Get on a bike to find a site rather than relying solely on land agents who add heavy premiums. Look for demographic shifts in urban space—such as closing petrol stations, garages, or older commercial sites—to spot hidden opportunities early.
Planners are often not incentivised or trained to understand private development economics, focusing instead on maximizing public sector extraction (Section 106). To succeed, articulate the broader public good of your concept and back up every argument with solid statistics and evidence.
The UK construction industry operates in a boom-and-bust cycle, leading contractors to take a highly contractual and protective approach. Expect challenges, visit your sites regularly, double-check all metrics with more experienced developers and keep a tight handle on financial exposure.
Land value readjustments typically take 18 to 36 months to cycle through following economic shifts. Marc believes London is half-way through this cycle. While high debt costs and construction inflation create a challenging market climate, these conditions naturally reprice land and open up opportunities. Look out for distressed owners whose financing facilities are expiring and who are forced to sell.
Long-term commercial value lies in developing a repeatable, scalable business model rather than relying purely on single-project margins. Strategic buyers and institutional partners seek proven concepts and established delivery platforms.
