Someone wants to buy a small chunk of my garden

latecomer

I think thats why the others have suggested that the interested person makes an offer rather than the potential seller asking for a specific amount.

Steve_xx

keystone wrote: »

The intrinsic value of 6 sqft of land in a back garden not providing access is prolly less than a tenner! So the chances of getting a fancy holiday out of it are pretty minimal. You need to be reasonable with your requested price methinks.

Cheers

But the intrinsic value has suddenly increased because the poster has a commodity that somebody else wants.

keystone

Steve_xx wrote: »

But the intrinsic value has suddenly increased because the poster has a commodity that somebody else wants.

IMO there is no change in the intrinsic value due to this event. There may be a change in the perceived value.

Cheers

.

spmc

The value of something is whatever someone is willing to pay so ask him how much he is willing to pay. A very small piece of land can be worth a fortune if it was the key to providing access to a large residential site. Looking at land values in isolation they vary greatly but if we assumed residential land was between £0.5M - £1.0M per acre where you live that would be say £100 - £200 per sq yd but I would question whether it would be worth the hassle for that kind of money.

duncan303

This might be a planning issue........ so has planning permission been granted? Make very sure you see the certified current drawings that the department has and NOT what he shows you... they may be draughts. (come across this before).

Or simply phone up the planning inspector dealing with his application and ask if the land might be required for success of his application.

My guess that the proposed reason (to make construction easier) is a bit feeble, otherwise you could just agree to let him use that part your garden for a few weeks, as a good neighbour would. He then reinstates the fence and you can put up your shed, in fact he could ask his builders to set the groundwork and erect a shed (you purchased) for you in return (sounds fair to me)..



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duncan303

instrinsic value of land:

In valuing residential land The "intrinsic value" of land is therefore defined as the net present value of all future net cash flows which are foregone by buying a piece of land instead of renting it in perpetuity. These cash flows would include rent, inflation, maintenance and property taxes. This calculation can be done using the gordon model.

unless............. truffles have once been found:D:D


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Pretani

If I were you I'd save yourself alot of hassle and keep your relations good with your neighbour by simply asking that he put in the foundations for your shed when he's doing his own building work, and put up a suitable fence between the boundaries.

I can't see 6 square foot at the bottom of the garden being of any great value, its not worth fighting over.

Get yourself a good foundation and fence made for your shed. Your neighbour should be happy enough with that arrangement and you'll not have the hastle of doing it yourself.

telsokari

This is the garden's shape


He said he needs it to have a good sized room in his extension. No access will be needed from my property.

I spoke to an estate agent, the one i bought the flat from, he told me his gut feeling would be to ask for about £5000-£6000 for it.

I personally think the land is not of much worth to me but at the same time i don;t want to be taken for a mug. I was thinking of letting him make an offer and then say i will check an estate agent to see if the price is fair.

I do like the idea of him laying the foundations for my shed as that would make my life alot easier with respect that.

Thanks alot for all your suggestions. i will def keep you posted about with that happens

Thanks

T

tomstickland

He said he needs it to have a good sized room in his extension

It's not clear whether he requires it for access or to allow his extension to be the size he requires.

ormus

let him make the offer first.
dont say anything to him apart from, youve no idea how to price it.