Small plot of land - ballpark price

[redandwhite]

Looking into buying a very small plot of land (300ft2 roughly ) - currently in communication with the vendor, may/may not come to anything yet. The land doesnt have planning permission - my intention would be to built a double garage on it.

Can anyone give me a rough ballpark (i realise its dependant on many factors) on price?

The vendor hasnt mentioned price but i know from Land Registry they paid 8K in 2008.

[Equus]

Somewhere between £nothing + paying the vendor's legal fees and ~£1/2 million, subject to circumstances and location.

Hope that helps.

[redandwhite]

Thanks

Whilst on the subject, not sure on legal costs either, any ideas? I really have no idea on any of this.

[Equus]

What make you think that asking on a motoring forum is likely to be a better idea than speaking a solicitor?

[redandwhite]

I am purely after a ballpark at this stage, i thought PH was the mumsnet for men? :-)

[brrapp]

As a local authority, we used to sell off unwanted pieces of land that were more of a liability than an asset to us. The prices we asked were based on the following:-

Small area of extra garden, £10 /m2 subject to a minimum of £100, plus our costs (£275 fixed price deal from our solicitor)

Area for garage or driveway, £1000 per car space plus costs.

Area for building an extension, 1/3 of estimated net uplift in value to their property.

Area for new build, to be valued professionally at buyers cost.

Note, these were prices for an adjacent property owner only, if any area might be of interest to the general public, it was advertised as open to offers on the open market.

We, as officers of the council, had to go through a strict process to determine that the area was a net liability to the council/community before allowing any sale. We were prohibited from selling any area which was determined to have a net value to the council/community.

For a private seller I'd expect prices to be higher if the area had any value to the current owner.

[redandwhite]

brrapp said:

As a local authority, we used to sell off unwanted pieces of land that were more of a liability than an asset to us. The prices we asked were based on the following:-

Small area of extra garden, £10 /m2 subject to a minimum of £100, plus our costs (£275 fixed price deal from our solicitor)

Area for garage or driveway, £1000 per car space plus costs.

Area for building an extension, 1/3 of estimated net uplift in value to their property.

Area for new build, to be valued professionally at buyers cost.

Note, these were prices for an adjacent property owner only, if any area might be of interest to the general public, it was advertised as open to offers on the open market.

We, as officers of the council, had to go through a strict process to determine that the area was a net liability to the council/community before allowing any sale. We were prohibited from selling any area which was determined to have a net value to the council/community.

For a private seller I'd expect prices to be higher if the area had any value to the current owner.

Thanks appreciated

[Vocal Minority]

The answer is absolutely no idea without information on location, access, what its surroundings are etc.

If the neighbour has anything about him, he will consider what the garage will add to your value, and he'll want a slice of the uplift.

It's not an open market transaction, so Market Value is moot really.

[boyse7en]

I sold a large-single-garage sized plot (with a very old wooden garage on it) to my neighbour for £10,000 about 15 years ago. If i was selling it now it would be about £15-20,000

That's in rural Devon.