Industrial land valuation
Discussion
We've got a 9500sqft factory near Wembley, developers have bought 80% of our estate and are pushing us to sell to them so they can knock the estate down and build flats, part of the Wembley area regeneration.
We aren't really sure what we should be getting with respect to value, it's not one of the big companies developing and we don't think they are being overly generous with the offers they've made and they are now talking about CPO. The buildings they have bought seem to go for standard price rather than considering they are developing it so maybe we have got our ideas messed up.
Who helps with this sort of thing so I can make sure we don't lose out?
We aren't really sure what we should be getting with respect to value, it's not one of the big companies developing and we don't think they are being overly generous with the offers they've made and they are now talking about CPO. The buildings they have bought seem to go for standard price rather than considering they are developing it so maybe we have got our ideas messed up.
Who helps with this sort of thing so I can make sure we don't lose out?
Thanks for the advice.
For anybody that knows it, we are along from the Ace Cafe, the council has had this area marked for redevelopment for a long time, various private developers have bought the plots and started development as per Brent's masterplan, the industrial units near the Ace cafe are gone and we are next on the proposed schedule. We own the freehold to two units, about 12-13,000 sqft total on an estate of maybe 170,000 sqft, the larger unit in prime location.
The council want the industrial estate removed as we are surrounded by residential streets, in part the developer wouldn't be able to develop the site without our plot of land due to this and where we are situated in relation to the estate.
A slightly smaller size estate near to us had about 450 1-3 bedroom flats built with up to 14 floors, the developers haven't submitted planning but we assume it will be similar.
How do I go about finding someone suitable to do this? I know I can look on the RICS site but how do I pick someone reliable, I don't really know anybody that could recommended someone for this area.
For anybody that knows it, we are along from the Ace Cafe, the council has had this area marked for redevelopment for a long time, various private developers have bought the plots and started development as per Brent's masterplan, the industrial units near the Ace cafe are gone and we are next on the proposed schedule. We own the freehold to two units, about 12-13,000 sqft total on an estate of maybe 170,000 sqft, the larger unit in prime location.
The council want the industrial estate removed as we are surrounded by residential streets, in part the developer wouldn't be able to develop the site without our plot of land due to this and where we are situated in relation to the estate.
A slightly smaller size estate near to us had about 450 1-3 bedroom flats built with up to 14 floors, the developers haven't submitted planning but we assume it will be similar.
How do I go about finding someone suitable to do this? I know I can look on the RICS site but how do I pick someone reliable, I don't really know anybody that could recommended someone for this area.
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