valueing land

[CR0X]

We have been offered a bit of land next to us, we reckon about 2,500 sq ft.

There is currently a building on it, but it will be flattened as part of the deal.

So ... what do we offer?!

Location is south of London in Surrey (still London postcode)

[Eric Mc]

Contact a local valuer - an estate agen or solicitor should be able to point you in the right direction.

[davidjpowell]

Local Valuer. Too many variables for anyone to be accurate over t'intnernet.

[Jasandjules]

Get three local estate agents to value it, and offer the average valuation price (or a bit less!), assuming you are content with that price.

[Noel]

www.rics.org will point you in the direction of a qualified valuer.

They consider the existing use and alternate uses. The vendor is obviously going to want the highest price.

There is also the marraige value to consider, it may be worth more to the adjoining occupiers. If it helps you unlock value in your current property then they'll want to see more ££.

[CR0X]

the prospective owner of the land adjacent to us turned down a nice offer from us.

he is valuing it at £100 / sq ft which is ludicrous really ... especially as I know that he paid a third for it (still not completed).

[anonymous-user]

Yup as has been said get an MRICS agent into value it, not just a local jack the lad estate agent. I'm assuming it has development pontential if he is asking so much for such a small plot, so a chartered surveyor should be able to advise you best on its value and the options.

[Kudos]

CR0X said:

We have been offered a bit of land next to us, we reckon about 2,500 sq ft.

There is currently a building on it, but it will be flattened as part of the deal.

So ... what do we offer?!

Location is south of London in Surrey (still London postcode)

How much do you want it? It's only worth how much someone will pay

[CR0X]

there is no development opportunity as it is in the middle of the estate and right by a river so no chance for expansion.

Looking at rents, we could pay £30 per sq ft and get a state of the art offices, air-con, underground parking etc.

[CR0X]

We had an offer accepted on the whole plot. Gazumpped by him when he offered double. About 50% above Market value. He has offered a plot adjacent to ours which is about a 9th of the total plot yet a third of what he has bought it for.

We don't have to have it but would be nice too. Useless to anyone else as access is a pain