reiver
Well-Known Member
Best way is to get a land agent before you agree to buy as you’re going to need one to check it out all the details. Money well spent
Anyone aware of the current price of land in the north west?
- Thread starter Selous
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Bo Diddley
Well-Known Member
This is the key phrase. Forget agricultural prices, it's what it's worth to you Selous!
Down here in Devon land prices, as Bowi J said in Cornwall, are ridiculous. The equine brigade certainly doesn't help but small parcels have made anything from 10 to 50 thousand an acre, even more. The sad part about it is that it's fragmenting the countryside.
A farmer once gave me this piece of sound advice:
"When land comes up for sale that's adjacent to your existing property, first you buy it and then you worry about how to pay for it".
I wish I'd heard that earlier in my farming career, as I missed out on a cracking opportunity in the early days for fear of over stretching myself. Had I taken the risk I now know it would have repayed me many times over.
"When land comes up for sale that's adjacent to your existing property, first you buy it and then you worry about how to pay for it".
I wish I'd heard that earlier in my farming career, as I missed out on a cracking opportunity in the early days for fear of over stretching myself. Had I taken the risk I now know it would have repayed me many times over.
You wont be paying grazing prices i bet , Farmers aint dumb to the possibilities 5 acres could become 4- 5 new homes and a big profit after you own it ( even if you didn't build them ).
Bo Diddley
Well-Known Member
I was waiting for that one.... 
I hope you manage to purchase the land..... I was always keen to read tales from the late John Humphreys in Shooting Times about his own little "ten acres of heaven". A plot he turned into a mixture of miniature shoot and a nature reserve. My late Grandfather took on a piece of land and an exhausted quarry near here with plan to run it as a small shoot, but it just became his pet nature reserve and he got more pleasure from it than anything else.
Heym SR20
Well-Known Member
A good way to square the circle between a small tatty little field good for a bit of rough grazing and a potential mansion or housing estate value is an anti embarrassment clause. Something along the lines of 25% of the value gain of the land from building or being allowed to build property for a period of 25 years. “Value gained” defined as open market sale value of the land to a property developer, or if properties are built, the final value of the property and its surrounding land, less the actual costs of building the properties.
This has two effects.
1) The vendor still has potential hope value for the land, but somebody else does the work. Also in many places get planning is easy if you are building out your own garden / field that is adjacent to you current residential property, but next to impossible if you are not.
2) the buyer doesn’t have to pay that “hope” value that may or may not crystalise at some point. And if it does then both parties benefit.
This has two effects.
1) The vendor still has potential hope value for the land, but somebody else does the work. Also in many places get planning is easy if you are building out your own garden / field that is adjacent to you current residential property, but next to impossible if you are not.
2) the buyer doesn’t have to pay that “hope” value that may or may not crystalise at some point. And if it does then both parties benefit.
Dorset Shakari
Well-Known Member
If it is adjacent to your property, then Market Value is irrelevant, as you are a Special Buyer, and there will be a marriage value that uplifts your existing property. If the vendor is aware of your special buyer status, then he will sell for a much higher price than he would to a random independent third party. It becomes a horse trade. I'd make some enquiries with a local land agent.
Lots of it is tax avoidance - not evasion
Ronin
Distinguished Member
or maybe not with the sea level rise that' s predicted . Remember the sea not that long back got all the way up to Myerscough collage There are a couple of Sea walls around Cockerham .
For an investment that would last for my kids / grandkids i would not build in Coastal Lancashire . Even if Southport beach in now grassed over , it all set to change . Happy to build here at 850 ASL though
I assume that's before any outline planning ?
Exactly!
About 30 years ago, someone asked a local estate agent about a piece of land that he had been offered next to his house. "If you have no land with your property, the first acre is worth £10,000, the second acre is worth £5000......." He was told!
This was 30 years ago near Weymouth, remember!
A 5 acre paddock near me, with 3 loose boxes and a water supply, has just been valued at £230,000, I've been told. 30 years ago, it was bought as bare land for £15,000.
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