Cost of land

This topic has 6 replies, 7 voices, and was last updated 11 years, 2 months ago by hdtrust.

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January 24, 2014 at 4:58 pm #5402

vhgmcbuddy
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Can anyone give me an idea of what the current price of land would be. I have been offered 8 acres of land in a valley with a river running through it. It is not much use for anything apart from having my own woodland because of the valley slope. Just thought someone might have an idea.

Phil

January 24, 2014 at 5:17 pm #5403

wristpin
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January 24, 2014 at 6:51 pm #5408

vhgmcbuddy
Member

hi phil. this is one of those cases where you need to analise what can be done with it like you say possible woodland etc. if nothing better can be done with it,then I would say, but this is not gospel between 3000 and 4500. price also is determind by how much someone wants it so at this price per acre does this sound okay or is it too much. planting trees etc takes a long time to see a return for your pound,and investing may be better long term with regular income being generated.

January 24, 2014 at 9:20 pm #5414

vhgmcbuddy
Member

hi phil you say there is a river coming through is there any fishing rights is there acess from main road will you own the road all of this will refelct in the price of the land me thinks are there any bluidings in the area.

January 25, 2014 at 10:02 am #5436

joegrgraham
Participant

Catfish mentions access, this is an important consideration. Is it accessible from a road, or is the access through someone else’ land? If the latter applies, are the access rights legally binding?. There have been many fall-outs over access rights, and it is not much use having a patch of land you can’t get to!.
As for the price, how long is a bit of string!. Fishing rights have been mentioned, also shooting rights, are there any shoots that own neighbouring land that would be keen to aquire this piece?.
Probably your best bet is to do some research of the area and find out if any similar plots have been sold recently and what they went for. Speak to the local land owners, and also the local Land Agents/ Auctioneers for an independant valuation.

Joe

January 27, 2014 at 9:03 pm #5512

vhgmcbuddy
Member

That is interesting, as there has just been an article in the national press about the record price of Land £11500 per acre, which has more than kept up with inflation over the years, it seems the price for agricultural land is between 3000-11500 per acre, but small plots always sell well particularly in the south, for pony grazing, fetching well over the prices mentioned, I used to live in Bridgnorth Shropshire and forty years ago they reported in the local paper that agricultural land had reached £400.00 per acre! so as they say, they are not making any more of the stuff, a cast iron investment I would have thought.

February 3, 2014 at 12:12 am #5649

hdtrust
Participant

Hi
8 Acres is still classed as a small parcel,which bumps the price up straight away,whether steep slopes or not, the horse fraternity will come a sniffing, with their bottomless pits!
You really need to look into the deeds of the land,is the land registered and is the present owner also selling the entitle deeds so that you can claim for single farm payments.(These are different to land deeds)you say there is a river, then find out who owns the banks.8 Acres is not enough land to build without full planning permission.
There will be legal fees as well all though they are normally set for buyer and seller at £500 each, but normally the seller will want you to pay his share, so that is another £1000.
Check for services running across the land, is there any Lee ways,that can be another costly mistake.
So don’t know where you are in the country, but down here in Somerset,with our heads just above the plimsoll line,most land around us is under water but still makes in access of £15,000 per acre at auction,and small parcels making above £22,000.
But as they say its all relative and god ain’t making anymore land!So time to dip your toe.
Regards
Andrew
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