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selling land
iwastheretoo
Posts: 74
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I have been 'unofficially' asked to think if I want to sell my 3 acre paddock (or a bit of it) on the edge of a small village for affordable housing. Does anyone know the approx price I would get for this? I was told possibly £10k per unit and the council may want to build 4 to 6 units. Does this sound right?
Also, how many units do they get on one acre?
I had the paddock valued at round £35K for 3 acres without any planning permission (for grazing).
Just exploring my options.
Also, how many units do they get on one acre?
I had the paddock valued at round £35K for 3 acres without any planning permission (for grazing).
Just exploring my options.
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agree a full price, and sell them an option to secure it for a period to let them try and get planning
I wouldnt sell part, as a small project may affect the value of the remainder.
they will get 12-18 units per acre easy.
you will have to pay CGT
Get the land indipendantly valued.
I would think the simplist answer would be that you get a valuation (as pasture) and one for (building land).
The other option wound be to approach the council planning depeatment and see if the land can be upgraded to building land. or try to get 'building permission' for 4-6 affordable house units yourself . both of teh latter options would give you a better chance of getting a good price.
lastly do not sell without getting a solicitor to look over any contract, sale agreement etc there are a lot of builders (even people you might think are your friends) who will pay a very small price for land then sell it with to a developer for a fortune.
How can you pluck a figure out of thin air? Is the land in the north of Scotland? Is it in Surrey?
There is not any PP on the field and a no new build in the area apart from affordable housing so selling it for any other building isn't really an option.
I don't need to sell it at the moment so will probably hang on to it for now what with the possible changes to planning coming up.
with PP it will be worth a boat load. I obviously underestimated. as killjoy just suggested £2m plus per acre, in hertfordshire
affordable housing will be 20/acre plus, but at 10k/plot that is only £200k
the main cost of housing is the land, not the build. it will be worth far more than £10K per plot, if someone gets planning.
out of interest, why would they think they could get PP on a greenfield site. social housing in a greenfield site sounds unusual to me.
You could always approach one or two of the big builders direct. they will jump at this like a shot, and they will know about planning
a guideline based on knowledge. much more than that in surrey, say - less elsewhere. but good sized building land is expensive. 10K sounded ridiculously low.
I wont sell it unless I get desperate.
Really appreciate all the sensible answers - thanks so much!
It would be silly to sell especially without good clear advice from the right people.