Estimation of land value.

[burpface]

Hi all,

I would like some advice from people with more experience/knowledge than me. Rough estimate of typical value of land per square metre- residential/garden land, on a development, moderately afluent part of North Yorkshire.

Google throws up a huge range £400- £10000 per sq metre.

It is in reference to an edge of our garden we are going to give to neighbour (all very amicable) for development of his property.


I appreciate very much people opinions and not an accurate value but just helps me with a ball park figure.

ThNks in advance

[yellowtang]

As he wants the land for the development of his own property then I would say that he should offer you 25% of the uplift in value of his property. I say this because it would then match a typical uplift clause percentage, albeit this is different situation to buying a plot of land with a uplift clause attached, where 25% within a 30 year period is normal.

Other than that, garden land is worth what he'll pay and you'll take........

[anonymous-user]

What do you mean by "development of his property?"

[Tonsko]

I'd phone someone for some professional advice. Someone like http://www.stephenson.co.uk/ should be able to help.

[Zyp]

I bought around 24 sqm of my neighbours garden to enable me to extend my house.
He / we used his solicitor to do the necessary paperwork (mortgage co's, land registry etc) and I handed over £5k.

[RobinOakapple]

Zyp said:

I bought around 24 sqm of my neighbours garden to enable me to extend my house.
He / we used his solicitor to do the necessary paperwork (mortgage co's, land registry etc) and I handed over £5k.

You live next door to your parents?

If not, then you did very, very well indeed.

[cat with a hat]

RobinOakapple said:

Zyp said:

I bought around 24 sqm of my neighbours garden to enable me to extend my house.
He / we used his solicitor to do the necessary paperwork (mortgage co's, land registry etc) and I handed over £5k.

You live next door to your parents?

If not, then you did very, very well indeed.

I don't know much about land value, but that does sound very cheap....

[Zyp]

Between me and my neighbour we just came up with a price we were both happy with.
He also gave the proceeds to a kids cancer charity.

Perhaps I ought to say his garden is around 2 acres in size and the bit we bought is tucked away.

[Wilmslowboy]

This truly is one of those how long is a piece of string questions....

I once bought a strip of land from the management company where I owned a house, the land was the equivalent of 5 paving slabs (adjacent to my allocated parking space and bought so I could open my car door fully and not need to step into the bushes when getting out.)

Value was probably £50, I paid about £1000 (equivalent to circa £2million per acre).....it was a small price to pay, It probably helped when I came to sell the house.

[JQ]

Wilmslowboy said:

This truly is one of those how long is a piece of string questions....

For garden land perhaps, but where the land is being sold for a specific development it's quite easy - work out what value the completed development adds to the neighbours property, deduct all the costs of doing the development, deduct a developers profit of 20% of total costs and bingo you have the value of the land.

A more old school version is one third of the added value.

[V8RX7]

The question is what does it enable him to do ?

If it is the difference between fitting a house on or not - it's worth a lot.

If it just enables a garage - not so much.