Micky
Well-Known Member
Just wondering if anyone on here has ever bought a second hand arena/school, already built and usable but old...and if so, how much did you pay for it?
Buying a second hand arena
- Thread starter Micky
- Start date
DD
Well-Known Member
do you mean buying it in situ and leaving it there and using it for schooling in or buying to remove to elsewhere?
Micky
Well-Known Member
I mean it’s in/on border of my field but belongs to someone’s else, was going to ask if they wanted to sell it to me but have no idea on a price for it! It would stay where it was for me to use..
katastrophykat
Well-Known Member
There’s one for sale in Cumbria for £28,000 but it needs taking down and moving... it may not be of any help to you but I’d assume that they have done some form of research before pricing it?
Maybe price what a new one would cost of the same size and go from there?
Maybe price what a new one would cost of the same size and go from there?
Micky
Well-Known Member
Blimey don’t think its worth that much! Probably built in the 1980’s...and it looks like it was..! Thanks..can’t seem to find any info anywhere...certainly wouldn’t put 5 figures on it..4maybe...
popsdosh
Well-Known Member
Probably 4k just for the land its on then whatever you think its worth to you bearing in mind it will cost you best part of 20k to then build it . If I was selling thats where negotiations start !! its your choice whether you pay it or not dont forget your asking they havent asked you if you want to buy
Red-1
I used to be decisive, now I'm not so sure...
It is a tricky one really, as it is worth whatever someone will pay and someone else will let it go for.
For example, a friend had a house with an odd bit of garden, that was more behind the neighbour's house. He used it as a veggie patch. They did have a load of land, as in house, yard, garden and field to about 3 acres, and kept a few horses.
A new neighbour moved into the house with the veggie patch behind. They didn't have a back garden as such, just a path round the house. They made representations about buying the veggie patch.
My friend was not bothered about selling, the garden was nice enough, but realised that the neighbour would really like the patch of garden for their own use as it would enhance their house considerably (plus presumably add value).
They did not want to be greedy, and invited an offer. The neighbour decided that land locally was £5,000 an acre, and the strip of land was X% of an acre, and worked out a price. It was a few hundred pounds or similar.
My friend pointed out that £5,000 an acre was for agricultural land, usually bought as 10 acres or whatever, not someone's garden, particularly someone who was not really interested in selling. The value of something to add value to your won property is worth more, especially if it has a particular amenity value.
Disagreement ensued, the land was never sold.
So, moral of the story is... it is not about what the paper value of the land is. It is about how much you want it and they want to sell! As it is not actually for sale I presume they do not particularly wish to sell. So, I would tread carefully, sound them out and ask if they would be interested and for them to indicate a price.
For example, a friend had a house with an odd bit of garden, that was more behind the neighbour's house. He used it as a veggie patch. They did have a load of land, as in house, yard, garden and field to about 3 acres, and kept a few horses.
A new neighbour moved into the house with the veggie patch behind. They didn't have a back garden as such, just a path round the house. They made representations about buying the veggie patch.
My friend was not bothered about selling, the garden was nice enough, but realised that the neighbour would really like the patch of garden for their own use as it would enhance their house considerably (plus presumably add value).
They did not want to be greedy, and invited an offer. The neighbour decided that land locally was £5,000 an acre, and the strip of land was X% of an acre, and worked out a price. It was a few hundred pounds or similar.
My friend pointed out that £5,000 an acre was for agricultural land, usually bought as 10 acres or whatever, not someone's garden, particularly someone who was not really interested in selling. The value of something to add value to your won property is worth more, especially if it has a particular amenity value.
Disagreement ensued, the land was never sold.
So, moral of the story is... it is not about what the paper value of the land is. It is about how much you want it and they want to sell! As it is not actually for sale I presume they do not particularly wish to sell. So, I would tread carefully, sound them out and ask if they would be interested and for them to indicate a price.
Micky
Well-Known Member
THanks for all your feedback, I can only ask!
Theocat
Well-Known Member
Given that it borders your land, do they realistically have any hope of selling it to anyone else? If not, you're looking at closer to land value. If they can still get some benefit from it as an arena, the price will go up accordingly!
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stencilface
High upon a hillside
9999
That's 4 figures
We put one in in 2016, they are costly and if you're buying the land too it needs a fair price.
That's 4 figures
We put one in in 2016, they are costly and if you're buying the land too it needs a fair price.
Micky
Well-Known Member
�� 9999!! I have the land house stables sheds, they have the manege selling with their house next door..
YorksG
Over the hill and far awa
When a new neighbour moved in down the lane, she asked if we would sell her a part of our field for a parking space. Given that it adds 10% to the value of a house we suggested an amount, lower than that, but not peanuts, she was horrified, explaining that she would have to pay for a surface and for it to be fenced and that they would give us the stone from the wall which would have to be taken down (er.. it's our stone). Needless to say our wall remains as it was and she continues to park on the lane (often in the way!)
So unless they are actively wanting to sell the arena, it is entirely their choice how much they are willing to accept, which may be based on how much value they think will be added to your field.
So unless they are actively wanting to sell the arena, it is entirely their choice how much they are willing to accept, which may be based on how much value they think will be added to your field.
Pearlsasinger
Up in the clouds
A new neighbour suggested that we might sell her a part of our field to become a parking area. She really did not appreciate what I meant when I said that I understood that adding a parking space adds 10% to the value of the house, so I would expect her to pay accordingly. Needless to say, the parking space is still part of a field.
stencilface
High upon a hillside
People are silly, why do people expect stuff for basically free? Are landowners known to be that charitable?! Not when it's basically lining someone else's pocket!
Micky
Well-Known Member
Lots of people want things for free or very little money..that isn’t my quest, my quest is to find someone who could give me advice or experience of buying a second hand manege...you mustn’t lump all landowners in the same wheelbarrow..thanks all...I’ll go n see whether my fellow Cornish folk will sell..
abbijay
Well-Known Member
I think stand alone sales of arenas will be rare, usually they will be sold along with other land or property. A local surveyor may be able to advise you better than we can on value that it adds to the existing property and you can establish what it is "worth" to you on the back of that but, given that you are wanting it and they are not looking to sell it I would expect to have to offer in excess of its market value and even a 20 x 40 that drains well is likely to be over £10k
Flyermc
Well-Known Member
we bought our house with a small strip of land at the side of the drive (only thin, think 'bush' width) that was advertised with the house on the estate agents details. Anyway it turns out it did not belong to the vendors. We got in touch with the owner and ended up having to pay an additional 3.5k to the land owner! its was a very narrow strip of land.
popsdosh
Well-Known Member
Not sure why a neighbour with facilities would sell as surely that will then devalue what they have!
stencilface
High upon a hillside
ycbm
Einstein would be proud of my Insanity...
Do you realise that it would cost £20,000 and upwards to have it built from scratch if you already owned the land? If the drainage still works well and all it needs is a surface top up, then £10,000 would be a very good deal, I reckon.
Micky
Well-Known Member
Drainage not great, not been used for years, facilities is a broad term as I own everything else (!!) I’ll just wait for that lottery win and buy the lot..haha...thanks all...
HeyMich
Well-Known Member
RICS definition of a valuation is based on a willing buyer and a willing seller.
If they are not willing to sell (or willing to sell at your price) then maybe suggest you rent it from them in the meantime. No massive financial outlay, no upset neighbours, and you still get to use the school.
If they are not willing to sell (or willing to sell at your price) then maybe suggest you rent it from them in the meantime. No massive financial outlay, no upset neighbours, and you still get to use the school.
cauda equina
Well-Known Member
Renting would be a good idea; try before you buy.
You might find the surface is horrible to ride on.
It would be galling to buy it and then find that sorting it out would cost more than building from scratch
You might find the surface is horrible to ride on.
It would be galling to buy it and then find that sorting it out would cost more than building from scratch
AdorableAlice
Well-Known Member
10k would be dirt cheap if all it needs is a top up. A new 20 x 40 with flexiride, extensive drainage and top quality 4 rails/ posts and deep kick boards, plus double gates and electric rope to stop the little oiks chewing anything - 30k.
MotherOfChickens
MotherDucker
yes but surely if it adds value to the OPs property the vendor can sell at a premium? the people that used to own our house paid £10K for 1/4 acre of field in front of their house to the road due to this, land in my area generaly goes for £5K an acre tops as its very poor land.
Rowreach
👀
Gosh, you only asked a question, then got accused of all sorts
Am I right that your neighbour is selling their house and it has no horsey facilities other than the arena? Or is it that they are not selling but you are interested in buying the arena anyway?
Depending on the answer to that, I would consult a local estate agent (I've a friend that I would ask) to give a value on your neighbour's property both with and without the arena included. That way you would know the sort of offer you could make which they wouldn't lose out over, you could offer enough to cover that, the cost of their additional fees is making two separate sales transactions, and something extra to allow for the fact that it is a useable (if not quite up to scratch) facility. That would be my starting point, anyway. Then of course they will start trying to figure out what value it adds to your property, as MoC says above!
Polos Mum
Well-Known Member
Does the owner use the arena/ have other horsey facilities? If so I'd start with what it will devalue their property by. If it's obviously an equestrian property that the current owners just happen not to use - losing the arena might devalue it quite a bit. But if you don't ask you don't get..... when I sold my house (12 acres, 16 stables, hay barn, etc. etc.) I had more than one group of people come to look and openly debate how to get rid of the arena as they wanted the land for something else. They were going to deduct money from their offer to reflect the cost of digging up my lovely ££££+ arena - eventually the estate agent convinced them the base would make a tennis court and the surface could be sold.
Buying it sounds very complicated and legal fees won't be small - splitting title deeds, getting the seller to have mortgage approval for change in title deeds etc. probably falls into the far too much hassle bucket.
I'd offer them £5/ 10 every time you use it and you'll put in a nice gate at your own expense.
Buying it sounds very complicated and legal fees won't be small - splitting title deeds, getting the seller to have mortgage approval for change in title deeds etc. probably falls into the far too much hassle bucket.
I'd offer them £5/ 10 every time you use it and you'll put in a nice gate at your own expense.
MotherOfChickens
MotherDucker
by all means ask if you can hire it-if I were the owner though, I'd want to find out the insurance implications.
Micky
Well-Known Member
Yes, you’re spot on rowreach...
Chuffy99
Well-Known Member
Friend has just sold a piece of scrubby land to her neighbours for just this purpose £8500 plus the buyers pay all the fees