Whats the price of land??

[lisap]

We have been offered a piece of land and we would love to own it but we haven't got a clue whether it would cost £1000 or £10000 so not sure whether to pursue the matter further! What is the price of land? The plot is about 25ft by 30ft.
Now to try and explain its situation!!, here goes:.. there is a piece of land behind my adjoining nieghbours house that me and 4 other nieghbours own. It has been split up into 5 pieces and has a gated entrance. as we are on the end, next to it, our plot is joined to our garden (making it T shaped). one of my nieghbours wants to sell their plot and, as it joins our garden it would be great to make it bigger....more vegs etc!!( i am also aiming for world domination!! ) So what is a rough price for this land. On its own it would have little use to anyone else and has strict rules in the deeds as to what it can be used for. I dont think the nieghbours would let it be sold to anyone other than one of us(...if they will allow that! )OOOOh i am interested to see if anyone can help as neither of us have any idea. Who do you get to value it anyway!?
Thanks for your time

 

[big-all]

the value off land depends on what you can do with it
agricultural land is cheap but you are very very restricted in what you can do and must usualy be connected surprise surprise with farming activitys

domestic land not in the green belt or without restrictions is worth more than land with restrictions but is worth less than land that has planning permission for a house

the simple answer is ask 3 estate agents for there values and take the average

 

[JohnD]

you do not divulge where you are

if you are able to park a car on it, or build a garage, it could be very worthwhile.

One day, somone might want to use it to build a small home on, perhaps in conjunction with an adjacent piece of land, and this could increase its value a lot.

 

[oilman]

You could be thinking of £20,000 per acre. So for that patch £330. I'd be surprised if you got it for £500 though.

 

[EddieM]

It's worth what someone is prepared to pay for it. I've know agricultural land go round here from between £3000 and acre and up to £15,000 an acre, it really depends.

 

[JohnD]

it doesn't sound to me like agricultural land. it sounds to me like residential land without planning permission.

 

[EddieM]

I guess it is, so it's value will be reflected accordingly. It's still worth, what someone is a) willing to sell it for b) what someone is willing to buy it for.

 

[lisap]

I will tell you the story from the beginning...are you sitting comfortably..... then I will begin: Our houses were built in 1959 and there was a field behind it. Around this the council wanted to use it for various things but the householders contested and 5 of the 6 residents clubbed together and bought it themselves. Each of the 5 residents now have extra long gardens, but as the 6th person didn't buy into it the other 5 split the land behind his property between themselves. as this neighbour was on the end it allowed the other 5 neighbours to access the land as their is a gate is next to them. Our pices is joined to the garden and is used for veggies and has a shed on it. 2 neighbours grow fruit trees and keep compost bins there, another has a wood store and the last is just mowed. In the deeds it says This land can only be used for garden and private vehicles, you can put a garage on if 'appurtenant to the purchasers neighbouring dwellinghouse' (i assume this means if the others agree). i know the neighbours would not agree for it to be sold to anyone else but might let us buy it, so I feel this would bring the value down. It is not much use to anyone unless they can get the other plots which I know the neighbours wouldn't sell. One of our long term plans is, as the neighbours change and become younger and less keen we will buy these plots, we will then have a superb garden with chance of a garage and as we get old we could sell the land. (i suppose this would mean the last piece of land would be the most expensive!) Oh and we live in the midlands.

 

[EddieM]

Nice plan, but I don't think the young are that uncanny! Plus you'd need to get PP to make it really valuable. Still to the matter in hand. I guess all you can do is talk to the neighbours and try to strike an agreeable price. It's worth what you're prepared to pay for it / what they'll sell it to you for. I know that is of no help to you really, but I feel that is the situation you are in.

 

[Thermo]

because of the conditions on the land and the fact that all the neighbours are really bound by each other in whats done with it, the land is of little value in a commercial sense, as there is unlikely to be a development potential etc. Therefore it really does come down to what you feel it is worth and what they want for it. As been said get a few opionions from some local agents and see what deal they want.

 

[ColJack]

land is worth it's weight in gold..
providing of course that it's sitting on a gold seam and that you have mining rights to go with it....

 

[DominicJ]

If your in the stockbroker belt, several grand, if your on a council estate in sctoland, few hundred quid.

If it were me, and that was behind my house, I'd probably consider up to £1000, but maybe only £500.
Doubt its ever going to get PP, you ****ed off the council to buy the land, and they have long memories and deep pockets.