Price per acre - Could I have your thoughts please?

J

justmyluck

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I am a regular user but am hiding so sorry -

Could you tell me how much you would expect to pay for a 2 acre paddock, no fencing, no water and no access gate onto road - effectively landlocked between two properties.

It is in Kent in an area of outstanding natural beauty.

Thanks
 
Well it would really depend, is there any planning permission on it? Would planning permission be possible? Are you the owner of one of the adjoining properties? Is there any right of access to the land? Could development on that land obsure a view for one of the adjoining properties.

Potentially factors like this can hike the price by increasing the desirability and the demand for the land.
 
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Do you mean to rent or buy?

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i think the username has a clue?!!
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If it's got any vague possibility of being built on then it'd be £200K+ However it depends how you access it - is there an exisiting right of way from the road across someone else's land, or even a possibility of one (demolish a property to build 10?) or can you just access it from your own property?

Normal farmland is £5-6K or so per acre, but anything that's remotely desirable just goes up in value - 0.8 of an acre near us (green gap no hope of building) with no access problems was £80K a couple of years ago and we all thought it was overpriced but all the numpties bidding on it at auction thought they'd get planning, having had planning refused twice they realised they've got a lemon.

If it's only of use to the 2 adjacent properties - I'm assuming one is yours - then I would suggest to try an offer of current farmland value of about £10-12K and see how you get on. After all it has no value as agricultural if there is no access other than via one of the 2 properties. If you've no access then I'd avoid without any legal right of way being established for you to access it as part of the purchase agreement. However if it belongs to the other property, there is an arguement that loss of the land would devalue the property by quite a bit as unless it already has heaps of land other than these 2 acres it'd loose it's equestrian desirability, which I think is about £80-100K for 2 acres adjoining (someone in an equestrian/big houses estate agency should be able to tell you), so you might have to offer more. You could also suggest you'd be prepared to accept one of those clauses that should it get planning permission and you sell it in the next 10/15 years that you pay back to the vendor an uplift based on what you sell it for, being as you're only going to want it for horses but ultimately some canny developer may get permission to demolish a property and want your field in which case you might sell your house too and go buy a bigger place.

Good luck with your offer!
 
What a friend of mine does who sells land on a regular basis is assess the likely increased value of the associated property. If if the land added to the house will increase the saleable value of the house by £100k then that is what he offered the land at.
 
i think the username has a clue?!!
tongue.gif


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No one likes a smart arse
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Buy it is then
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Anywhere from £10k per acre upwards but I suspect it will be a lot more than that in Kent. I paid just under £10k per acre last year when I bought & I got that cheaper because I did a deal on more land.
 
I think its worth what it means to you. When I bought my land I had to go to tender and so even though there are guide prices I was told that a selling price always exceeds this.

The notion of being able to buy land for circa 5k per acre ime is rare in the southern counties.

If this plot has planning or any remote chance of planning it will be far more than a plot which never stands a chance of planning. If you are unsure what could be built sound out a local planning officer who although can't categorically say this is what will be allowed, they can say what the likelihood of something is. The thing with this plot is the no access onto the road, don't assume this will be allowed by the highways / council, consider your visability splays etc


If it has no access or shared access I would personally walk away. Also factor in the costs of installing the mains supplies which can be many $1000'sss.
 
As pure pony paddock potential at least 10k per acre. If possible building plot with equine potential then upwards of £150k w/o pp & upwards of £250k with pp. Check the local authority local plan to see if the area is zoned as potential for devleopment, this will make a big difference.
 
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