Hi All,
A situation I was expecting when I bought my house has now come about - I have a large field next to my house which is being included within a LDP for housing. I've been approached by an agent for the land owner to get a feel of my position with regards to the sale of a portion of my front garden for the access road to the site. I talked to them about its going to impact my plans to build a driveway, and they jumped straight in with offering to build me a driveway and a garage ect, so the land is obviously of high value to them.
Anyway, the layout is that I am the last house on the road, and they need approx 1.5m of my front garden to provide width for the new road. There is another access point available, which is by utilising a common land lane directly adjacent to the proposed access point suggested using my land, however the owner is apparently being very 'commercial' about it (Owned by Somerset Trust or something), and have asked for too much money. It was played to me that their access was preferred due to coming into the site at a right angle as opposed to a sweeping drive, so the land could be used more efficiently.
The development seemingly consists initially of 41 houses, with a second phase of 80-100 homes. I'm aware that a ransom strip is typically 10-50% of the land value increase (33% in most cases), but obviously this would mean astronomical figures which I can never see as being realistic.
I was considering playing it this way. I have made them aware that I am knowledgeable in this area (if you ignore my poor spelling), and that I have a good idea of the value. I have asked them to come back and make me an offer (they wanted me to give them a price lol), but if its quite low I was considering just going back to them saying that I'm not happy with it. I know it is worth approx £2m (£6m for the whole development), but I am willing to negotiate a 25% discount of the best offer received from the alternative access point, subject to proof of the offer and some other slight considerations. I wasn't sure if I should say I would accept less if they can demonstrate the inefficiencies of using my access compared to the other?
Do you think they would go for this, or would they never entertain this idea? At the end of the day I want them to use my land, and I would happily negotiate a larger discount in leu of some construction works to my property/ them building a park in the awkward triangle parcel of land adjacent to the access point.
Any help or suggestions welcomed. If Im dreaming and its only worth £2k please say so, because I don't want to be greedy about this, but at the same time we bought a large house overlooking fields and my wife has already suggested moving if the development goes ahead, so bait of extra money to assist this wouldn't go amiss!
A situation I was expecting when I bought my house has now come about - I have a large field next to my house which is being included within a LDP for housing. I've been approached by an agent for the land owner to get a feel of my position with regards to the sale of a portion of my front garden for the access road to the site. I talked to them about its going to impact my plans to build a driveway, and they jumped straight in with offering to build me a driveway and a garage ect, so the land is obviously of high value to them.
Anyway, the layout is that I am the last house on the road, and they need approx 1.5m of my front garden to provide width for the new road. There is another access point available, which is by utilising a common land lane directly adjacent to the proposed access point suggested using my land, however the owner is apparently being very 'commercial' about it (Owned by Somerset Trust or something), and have asked for too much money. It was played to me that their access was preferred due to coming into the site at a right angle as opposed to a sweeping drive, so the land could be used more efficiently.
The development seemingly consists initially of 41 houses, with a second phase of 80-100 homes. I'm aware that a ransom strip is typically 10-50% of the land value increase (33% in most cases), but obviously this would mean astronomical figures which I can never see as being realistic.
I was considering playing it this way. I have made them aware that I am knowledgeable in this area (if you ignore my poor spelling), and that I have a good idea of the value. I have asked them to come back and make me an offer (they wanted me to give them a price lol), but if its quite low I was considering just going back to them saying that I'm not happy with it. I know it is worth approx £2m (£6m for the whole development), but I am willing to negotiate a 25% discount of the best offer received from the alternative access point, subject to proof of the offer and some other slight considerations. I wasn't sure if I should say I would accept less if they can demonstrate the inefficiencies of using my access compared to the other?
Do you think they would go for this, or would they never entertain this idea? At the end of the day I want them to use my land, and I would happily negotiate a larger discount in leu of some construction works to my property/ them building a park in the awkward triangle parcel of land adjacent to the access point.
Any help or suggestions welcomed. If Im dreaming and its only worth £2k please say so, because I don't want to be greedy about this, but at the same time we bought a large house overlooking fields and my wife has already suggested moving if the development goes ahead, so bait of extra money to assist this wouldn't go amiss!
