how to guesstimate what land is worth?

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ghostie

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Just a musing really. I know of a plot of land which the owners have limited attachment to and are financially hard up. It's about six acres, with six stables. No arena. Very limited road access as it's behind houses. It's on greenbelt so no value as development potential, but it's in east Essex so a reasonably expensive area.

Pie in the sky thinking I'm tempted to find out what they'd want for it, but I literally have no idea what that sort of land is worth and therefore whether I'd ever afford it - anyone fancy sticking a finger in the air with a totally wild guess?

:)
 
thank you, that's helpful. Was more that I was wondering whether they might consider selling if a good offer were put to them, rather than thinking it would devalue it. Tricky, not sure I'd want to pay £20,000 an acre for it as it's pretty hilly. Very tempting to own my own land though, even though I'd have to get someone to manage it :)
 
Any yard with 6 acres and 6 stables in the home counties would be worth minimum £120-150k even if the access is not ideal (so maybe restricting it to private use or a couple of private users rather than a livery yard).

Also with the changes in planning policy recently, ANY brownfield site is fair game for an application for houses, if access is tricky then they will just buy one of the houses in front if needs be to improve the access. So expect the sellers to put in an 'overage' clause to get a percentage of any uplift in value from that PP.
 
Ask a local Land Agent or a specialist selling agent. Rural Scene are quite apporachable and they are valuing land all over the country so I imagine they will have a fair idea. Basically though it's worth what someone is prepared to pay for it and there might be plenty of deep pockets in that area.
 
If you consider what value the land or even half the land would add to one of the houses bordering it it's worth a pretty penny!
 
I would say £10-15k an acre. But as its near houses could someone there afford to buy it? At end of day its only worth what you are willing to pay for it. Could you rent out a couple of stables/check access is water on tap etc. Land is hard to buy in some areas. I am guessing Essex could be one of those areas.You may be lucky if you can do a deal. Do it fast otherwise someone will pip you if you are serious.
 
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