Ransom strip value - Gardening land

Ransom strip value - Gardening land

Postby nasop » Tue Aug 30, 2016 12:45 pm

Hi, I've recently purchased a plot of land which extends our garden. The land backs onto a side road but between us and the road is a ransom strip of trees.

The ransom strip owner originally bought the land because he thought the plot I bought was going to be used for building. However, the plot was broken up into 3 smaller plots, one of which is mine.

I've approached the RS owner who said he wanted 20K for the strip but as he knows it's not worth as much now he wants 6K. Sounds quite reasonable I guess as it will allow us access at the back of the garden, however I only paid 4K for the plot.

I'm the only person who will ever offer to buy the strip and I've made it clear that I'm not that bothered about access, it's more the dead trees I can't touch that look a mess and that he doesn't maintain them.

I guess I'm just looking for opinions and what people think the RS is worth.
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Re: Ransom strip value - Gardening land

Postby jonahinoz » Tue Aug 30, 2016 8:57 pm

Hi Nasop,

Well, I can think of two people who want/wanted to buy your land ... you ... and the bloke who bought it. There will be others who would like to own it, (wildlife sanctuary, for instance) but maybe not willing/able to pay for it, and others who have spare cash burning a hole in their pockets.

You do not mention the size of the plot, but if I had a spare £6,000, and owned your house and garden already, I would be tempted.

Some years ago, there was the prospect of my wife being promoted, requiring us to move to the East Midlands. We looked into buying a house in that area. At that time a 4-bed detached would be about £60,000. Add an acre, and the price rose to £140,000/£160,000. My wife was the front runner, but the department that had vacancy could not afford to pay the compulsory transfer allowances, so a local officer got the promotion.

John W
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Re: Ransom strip value - Gardening land

Postby despair » Tue Aug 30, 2016 9:05 pm

a plot of land for 4k crikey where do you live you could add 3 zeros right across the south

The ransom strip is probably worth a lot in due course if it means yours or the other 2 plots could be furthur developed but othereise its only worth what you want to pay for it
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Re: Ransom strip value - Gardening land

Postby mr sheen » Tue Aug 30, 2016 10:04 pm

The land is worth the amount he is willing to sell it for and someone is willing to pay for it. If you don't buy it...who knows someone else might and then offer it for 20k again.

If you don't want the land forget all about it.

if you do ...make a counter offer..if they refuse make a decision as to whether it is worth the amount to you.

No one can tell you what is reasonable for the land since there are so many variables involved but it has a monetary value and that is the amount it will change ownership for.
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Re: Ransom strip value - Gardening land

Postby arborlad » Wed Aug 31, 2016 7:45 am

nasop wrote:...... it's more the dead trees I can't touch that look a mess and that he doesn't maintain them.




If this is your main concern then ask your neighbour for permission.

Trees don't need maintenance, people need trees to be maintained.




despair wrote:a plot of land for 4k crikey where do you live you could add 3 zeros right across the south



:lol:
arborlad

smile...it confuses people
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Re: Ransom strip value - Gardening land

Postby nasop » Wed Aug 31, 2016 12:24 pm

jonahinoz wrote:Hi Nasop,

Well, I can think of two people who want/wanted to buy your land ... you ... and the bloke who bought it. There will be others who would like to own it, (wildlife sanctuary, for instance) but maybe not willing/able to pay for it, and others who have spare cash burning a hole in their pockets.

You do not mention the size of the plot, but if I had a spare £6,000, and owned your house and garden already, I would be tempted.

Some years ago, there was the prospect of my wife being promoted, requiring us to move to the East Midlands. We looked into buying a house in that area. At that time a 4-bed detached would be about £60,000. Add an acre, and the price rose to £140,000/£160,000. My wife was the front runner, but the department that had vacancy could not afford to pay the compulsory transfer allowances, so a local officer got the promotion.

John W


Hi John,

Just to clarify. The strip of trees which I'm looking to purchase is 0.5 meters wide by 10 meters long. On one side is my garden and on the other is a service road so if someone other than me wanted to buy it I can't think of any reasons rights now.

The plot of land I bought which meets the trees is 12 Meters by 20 Meters.
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Re: Ransom strip value - Gardening land

Postby nasop » Wed Aug 31, 2016 12:27 pm

despair wrote:a plot of land for 4k crikey where do you live you could add 3 zeros right across the south

The ransom strip is probably worth a lot in due course if it means yours or the other 2 plots could be furthur developed but othereise its only worth what you want to pay for it


I live just outside Nottingham.

All 3 plots have clauses to prevent building so there's no real value to the ransom strip anymore. I would be the only person willing to pay for the ransom strip.
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Re: Ransom strip value - Gardening land

Postby nasop » Wed Aug 31, 2016 12:31 pm

mr sheen wrote:The land is worth the amount he is willing to sell it for and someone is willing to pay for it. If you don't buy it...who knows someone else might and then offer it for 20k again.

If you don't want the land forget all about it.

if you do ...make a counter offer..if they refuse make a decision as to whether it is worth the amount to you.

No one can tell you what is reasonable for the land since there are so many variables involved but it has a monetary value and that is the amount it will change ownership for.


He realised that it's not worth 20K anymore and as I mentioned before, anyone else being interested in a 10m row of manky trees would be taking a huge gamble.If I won't pay him what he wants not I'm not going to pay them more in the future.

I'm thinking of going back with an offer of 4K. If he says no I'll just live with the trees being there and put up a fence on my side.
Last edited by nasop on Wed Aug 31, 2016 12:48 pm, edited 1 time in total.
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Re: Ransom strip value - Gardening land

Postby nasop » Wed Aug 31, 2016 12:33 pm

arborlad wrote:
nasop wrote:...... it's more the dead trees I can't touch that look a mess and that he doesn't maintain them.




If this is your main concern then ask your neighbour for permission.

Trees don't need maintenance, people need trees to be maintained.




despair wrote:a plot of land for 4k crikey where do you live you could add 3 zeros right across the south



:lol:


The owner lives 20 miles away and hasn't maintained them for the last 5 years. If things fall through I'll ask him but honestly don't think he cares.
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Re: Ransom strip value - Gardening land

Postby jonahinoz » Wed Aug 31, 2016 7:48 pm

I'm thinking of going back with an offer of 4K.

Hi Nasop,

You could always sweeten your offer by including a "clawback" agreement. Eg ... he accepts your offer, but you agree to pay him a percentage of the increase in value, if YOU obtain PP for residential development. (Remember, HE could apply for PP on YOUR land, then demand his share). You also want to avoid "blanket" PP, such as if you applied for vehicle access, but drafted in terms that do not hint at what you are getting at.

602
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Re: Ransom strip value - Gardening land

Postby span » Thu Sep 01, 2016 9:24 am

4k for a strip of land that is effectively worthless now? You must be minted. Let's talk about several very lucrative investment opportunities I could put your way in Zimbabwe and North Korea.

If he doesn't care, and all you're worried about are the trees, then hire some of those itinerant gardenets of Celtic extraction to make a out of hours visit with chainsaws. Cost you a lot less than 4k.
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Re: Ransom strip value - Gardening land

Postby COGGY » Thu Sep 01, 2016 10:46 am

If the strip of land is only 0.5 meters wide you could surely lean over and work on the trees from your garden. Then go round to the service road and do the same. The trees must be fairly thin to fit on such a narrow piece of land. Coggy
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Re: Ransom strip value - Gardening land

Postby MacadamB53 » Thu Sep 01, 2016 1:44 pm

Hi nasop,

you want to increase your back garden by 5m2 at a cost of £4K? insane!

as has been mentioned, that strip will change hands for whatever the current owner and a prospective buyer deem reasonable.

question: which property benefits from the restrictive covenant against your recently purchased plot? and the other two plots?

Kind regards, Mac
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Re: Ransom strip value - Gardening land

Postby Clifford Pope » Fri Sep 02, 2016 7:36 pm

Have I got this right - the plot of land you have bought is on the other side of the service road?
So if you bought the strip it would give you access to the road, and then access across the road to your land?

You might have difficulty establishing that this extra land thereby became part of your garden. A garden can be divided by a road, but that situation is quite rare.
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Re: Ransom strip value - Gardening land

Postby nasop » Fri Sep 02, 2016 9:54 pm

jonahinoz wrote:I'm thinking of going back with an offer of 4K.

Hi Nasop,

You could always sweeten your offer by including a "clawback" agreement. Eg ... he accepts your offer, but you agree to pay him a percentage of the increase in value, if YOU obtain PP for residential development. (Remember, HE could apply for PP on YOUR land, then demand his share). You also want to avoid "blanket" PP, such as if you applied for vehicle access, but drafted in terms that do not hint at what you are getting at.

602


Yes I could look at offering him that as an option. I'm meeting with him tomorrow to see if we can do a deal.
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