Does anyone know how much value an outdoor school/arena puts on a property?

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1987

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I am thinking of the options I have re. an outdoor school. For me to be able to attempt to do it I need to persuade my parents (who own the land) that it won't be an eyesore and that it will increase their house's value or even just the land's value.

I wondered if anyone had a % or a figure for the uplift or if there is a negative value instead?

To give you an idea it is 15 acres, 4 stables + 2 tackrooms and small hay barn, large barn for machinery, water, electric etc just over the lane from our house which is 6 bedroom with a studio flat connected and a 2 bed annexe at the top of the garden in Oxon.

Do you think it is worth persuading or not?
 
1987 said:
I am thinking of the options I have re. an outdoor school. For me to be able to attempt to do it I need to persuade my parents (who own the land) that it won't be an eyesore and that it will increase their house's value or even just the land's value.

I wondered if anyone had a % or a figure for the uplift or if there is a negative value instead?

To give you an idea it is 15 acres, 4 stables + 2 tackrooms and small hay barn, large barn for machinery, water, electric etc just over the lane from our house which is 6 bedroom with a studio flat connected and a 2 bed annexe at the top of the garden in Oxon.

Do you think it is worth persuading or not?
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Im sure it would be a selling point and add at least the cost of construction ...as most people would want one if they were looking for a house with land and stables....
 
Sorry, I dont have an answer for you, but I am sure lots will and I will be very interested to read their replies.

I would imagine that it will definitely add value to a property, unlike a swimming pool, which puts a lot of people off when they consider the financial costs of heating and maintenance.

When I was house hunting a few years ago, looking for a property with land, stables, good hacking etc, if it also had an existing school, that was a big incentive for me to make an offer, if all other boxes were ticked.

I have put a school in at my place, and I am hoping it has added enormously to the value of my property. :D
 
It will depend on how long you intend keeping the property for.
If you wanted to sell the property within the next 3 years then it would not be an investment as property prices for high value properties are likely to fall within the next 2 years. As a long term investment of 10 years you should see the capital investment for the cost of installing the outdoor arena returned as the cost of installing a good quality menage and maintaining it will have risen with inflation in that time.

So yes if you keep the property for 10 years and maintain the outdfoor arena you should recover the cost of installing the outdoor arena and also make the property more sellable (provided the purchaser is interested in equines of course).

However ensure you have the outdoor arena installed by a recognised installer and keep the receipts/invoices as proof.
 
I read an article earlier today that quoted adding at least £10K to the value. Not sure how old the article was, but presume you should be able to recoup the cost of the arena. I'd agree would make a property already with stables more sellable, so should be an asset worth having IMO.
 
Thinking about the size of your parents property & its location, I would say that it would probably not add a lot in terms of actual value, but it would definitely increase it's market appeal and saleability. It could add £10k, but TBH that is the sort of money I would expect to almost be lost in the rounding of a 6 bed, annex & 15 acres.
 
tbh if selling as an equestrian property in that area with that land/stables and the price the property would go for, most buyers would expect there to be one. So I dont think it would add more than 10k to the value but I do think it would make it sell much quicker. It would ideally be a decent one to fit in with the property, maybe bigger than normal or better surface or good floodlighting.
 
I think it adds value personally - plus in your case it would give you the option of selling/letting the yard area and manege as a separate facility if you ever needed to. I think the majority of people looking to buy/let equestrian property would consider a school a big advantage, but it has to be well done. If its done poorly they just see money needing to be spent.
 
I think you would be surprised at how much it will cost to install one properly given they are physically large area. They need proper drainage pipes put in all across the arena as well as weed membrane and then an aggregate base before the surface is chosen. If it is considered to only add £10k to the value, it could easily cost 3 or more times that to install if a fair size and that is before you light it.
 
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