Sales value of land in garden?

Let everyone have the same pleasure as you derive from your garden -- or perhaps a friends garden
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Sez
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Sales value of land in garden?

Post by Sez » Fri Aug 16, 2019 7:05 am

Hello, I would like to sell a small part of my garden approx 12 x 4m to my neighbour so they can use as a parking area. My garden is approx 2 acres and this section of land is at the foot of the garden so doubt it will affect the value of my property selling it. I am struggling to find a guide on how to value the land and would appreciate any help that can be given on this? Thank you in advance

IdefixUK
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Re: Sales value of land in garden?

Post by IdefixUK » Wed Aug 21, 2019 7:50 am

Hello Sez.
The loss in value from your property of that area of land from a two acre plot will probably be minimal (unless the position of it is highly visual or makes a significant difference to the use of the rest of your land). What is perhaps more important to consider is the increase in the value of the neighbour's property if they become the owners.
You should also consider what may happen in the future. For example could they build a garage on this land, or an extension to their house, or would ownership,of this land give them enough space to build another house on the plot next door? (If so you could sell with a covenant preventing this).
Land prices are different throughout the UK. If you had this for sale in London it would fetch a premium price.
I suggest that you pay an experienced local land agent for advice regarding the selling price.
Even if you are on good terms (friends) with the neighbours it would be sensible to broadly follow the advice of a land agent. You could sell much too cheaply to a friendly neighbour just to find that they sell up in 6 months and "walk away" with the "profit".

Regards

ukmicky
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Re: Sales value of land in garden?

Post by ukmicky » Wed Aug 21, 2019 10:47 pm

Is this land adjacent to their land . Is there any land which they could add to the bit they want to buy from you to make it bigger which would then allow them to build a house. Would it bother you if they built a house rather than a garage.

Always think outside the box with things like this.
Any information provided is not legal advice and you are advised to gain a professional opinion

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