Fair price for land?

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Heartfield

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We would also like to know how long a piece of string is. Apart from that, hello to everyone on H&H Forums.

We live in Worcestershire in the West Midlands, and have viewed a local plot that has had horses on previously, and comes with a collection of field shelters, stables, menage, and hay shelters.

In short, all we want. Everyhting is fixable, just in a state of neglect. It is 5 acres plus in our estimation, and as we have two horses, ideal. We walked it this morning, and thrill of thrills, it was not sodden.

So now to why we have posted, what should we consider the going rate per acre. We feel between 9 and 10 thousand, but what say you.
 
Here it would be more like 20 - 25K per acre if close to habitation.
An acre can add 40 - 100K to a house next to it.
9-10K per acre is for large parcels of land.
 
I agree the smaller the plot, the more per acre. Plus the closeness to houses really does influence the price as people always hope that it could be built on. I'm in Powys and a 2.7 acre paddock by the village (no planning permission) with no field shelter is for sale at £60k.
 
Entirely depends on where you are

I've just had a quick look in your mentioned area

1.7 acres £18,000, approx £9k per acre

23 acres £165,000, approx £7k per acre

So i think the price you are suggesting is fair

Down in Hampshire my uncle a few years back paid about £18k per acre - big difference
 
In my area of NW Surrey grazing is about £25/30k per acre, plus another £15-30k per acre per stable, so if there was a plot of 3 acres with 3 stables, you would be looking at around £150 -£180k.

Example: A plot of 3 acres (tho now advertised as 4 - naughty agents - as nobody else has been able to make it more than 3acres for the last 3 sales on it)
Good grazing tho very very wet on 50%of it, water on, double shelter over the far side & 1 storage shed (stable size tho unlined).
Access straight onto hacking via unmade lane, has just had offers invited over £135k.
So far people have been beating each other up to buy it & its la bidding war, currently (so owner told me yesterday) offers have gone over £145k

OP, its worth whatever you are willing to pay, good luck :)
 
I just did a very quick search on Google by putting in Grazing land for sale Worcestershire, i don't think there are any comparison websites that i am aware of for land
 
Heartfield said:
We would also like to know how long a piece of string is. Apart from that, hello to everyone on H&H Forums.

We live in Worcestershire in the West Midlands, and have viewed a local plot that has had horses on previously, and comes with a collection of field shelters, stables, menage, and hay shelters.

In short, all we want. Everyhting is fixable, just in a state of neglect. It is 5 acres plus in our estimation, and as we have two horses, ideal. We walked it this morning, and thrill of thrills, it was not sodden.

So now to why we have posted, what should we consider the going rate per acre. We feel between 9 and 10 thousand, but what say you.
Click to expand...


Also in Worcestershire , £9000 an acre is going rate, but its horse land, nit much comes up esp round ombersley area its adds weight plus dependent on who wants it, where it s and whose house it attaches to! Suggest you give Halls a ring the agents. Dan Lovett is really good with prices. If it helps we got 8 acres for £54k but it was agricultural land and a stray plot !
 
I'm in Powys too and pulled out of a potential purchase of two acres of grazing, no water, no shelter, no guarantee of getting planning for stables, in need of fencing. We pulled out when somebody outbid us - £40k was our max bid and there were still two other people bidding against each other - rumour in the village is that it ended up going for £60k.
 
In Somerset bare land is 10k per acre (that's what I paid and other plots advertised at same) for most plots up to 10 acres. But.... If u have buildings ( with planning permission) on the land you can almost double it per acre. I would guess 70-90k for what u have seen if out in middle nowhere and no road frontage, next to houses up to double that.
 
Farmers Guardian used to (and maybe still do) have a table of prices paid for land,mainly in the north of England, but like others have said, it depends on area, size, quality, whether or not it is grass or arable, fencing, water etc. In your shoes I think I would ask an experienced rural estate agent such as Rural Scene, Nock Deighton or G Herbert Banks for a rough valuation. Some will do it free from the particulars for the goodwill. If it is on for private treaty maybe start at your *with luck* price and be prepared to negotiate up to your max - make it clear you want to know if any higher offers are received and might POSSIBLY be able to go a little higher if absolutely necessary. I doubt it is any clearer to many agents than it is to you.
 
I'm just outside evesham in worcesterhire and there is a piece of land in our village which is 6 acres of set aside, no facilities or fencing and they want 10k per acre, however I was told that there is a small paddock in the middle of the field which is a little over 2 acres....a few years ago 'the village' clubbed together to buy it to stop 'undesirables taking it' and they paid 45k! :-O! Guess there are a lot of variables in land price.
 
Once again thanks for all advice given.
We have sore eyes after searching down info, and oh my, are there are some shifty sites out there.

Anyway, we had a good search result; a 6 acre plot of pasture for 50k is on offer close to our target site. Nothing on it, but it tells us that we won't pay less than 8.2k an acre, so we think our 9k to 10k an acre target price is sound.
Will update as we can, and anymore advice would be gladly received.
 
I think your estimates would be ok if it were for pure pasture, but the fact that there is an arena and stables/shelters on it too makes it worth a lot more. I'm in the NW, where land would go for about £5-8k/acre, however a three acre field with a block of three stables was up for £50k recently. We've been valuing our land lately (roughly) for inheritance purposes, and have been told that the stables we've built have increased the value by quite a lot..

It would be great if you got it for that amount, but I personally would be amazed.
 
The menage is covered in growth and has an infestation of rabbits. Nearly all buildings have serious ivy/bramble cover, fencing 70% sound.
We need to find out how much a new menage would cost, so as to estimate how much they will expect for what's there in the state it is in. We know that a menage can be restored, for now we need to get to ground zero with our pricing of land.
Not used for horses in 8+ years , but has been grazed by livestock.
 
Heartfield said:
The menage is covered in growth and has an infestation of rabbits. Nearly all buildings have serious ivy/bramble cover, fencing 70% sound.
We need to find out how much a new menage would cost, so as to estimate how much they will expect for what's there in the state it is in. We know that a menage can be restored, for now we need to get to ground zero with our pricing of land.
Not used for horses in 8+ years , but has been grazed by livestock.
Click to expand...

But nothing that can't be sorted. Good luck!
 
Not sure if its any help, there is a similar set up for sale currently just outside Ellesmere in Shropshire, stsbles ,grazing, and menage, there are approx 10 acres so a little bigger, its for sale for £160k.

I'm not too far away, I have just a smidge under 4 acres, 4 stables and a menage, it was valued around £70-80k last year (informal chat with agents) I'm on shrops/Cheshire border.

I was lucky and brought it as a green field with nothing other than water on it and paid £15k, OK 10 years ago, but its not only been amazing having my own yard its also a great investment, and something I have never regretted. Best of luck and I hope you get it for a price you want :)
 
I hate to tell you this but our experience is that with small pockets of land you can forget about what the going rate is for agricultural land in the area. It is going to be MUCH more expensive.
The fact that it has stables & arena is going to push the price up further. I know this because we have been recommended to build a stable block & arena on a parcel of land of ours to significantly push it's price up.
I recently saw advertised 4 stables/ electricity/ water/ 4 acres no arena advertised in the midlands for £95,000....it went to sealed bids because of the interest (however, I do not know the area & this could've been because there was a possibility of it being developed for housing!)
 
We feel that one good reason to buy, is that you can get something back eventually when you sell up.
Long term renting is not much less than buying in our calculations. Guess that's how many of you have costed it.

And yes, in our estimation most of the work to restore can be DIY'd.

Edit, yes we are going to have to haggle over the value of existing facilities. It is the unknown for now, and could break any deal for us.
 
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