Council have quoted land at £20 per sqm is this good?

eglwysman

Well we have put a petition together from everyone effect by this land that it should be offered to freely to al residents effected provided the entire land is taken up, I cannot understand how land that is landlocked with no possible way for future development to be granted how it can be worth anything? For me it is like trying to sell someone a car with no MOT and saying this car can never have an MOT, The car is worthless as it can never do the job it is their for, THis land can never be used for development or anything so how is their a value on it?

Surely the value of something like this is only worth what someone is willing to pay for it?

GDB2222

The point is that it's not really land-locked. You only have to knock down a couple of the houses to get access. So, if the Council want to maximise their valuation, they merely have to:
a) Grant themselves planning permission for housing
b) Slap a CPO (compulsory purchase order) on you or a couple of your neighbours.

Also, it is now government policy to use these infill brownfield sites for building, so planning permission is probably not a problem.

Alternatively, if you can put together a package to buy this land and a couple of the neighbouring houses for access, a developer will be very interested in buying it from you for a shedload of money, knowing that he is likely to get the necessary planning permission. Anyway, the developer will buy it on a conditional contract.

Potentially, this is a goldmine. If you are lucky, the guys at the council will be too dozey to notice this, and you and your neighbours can snap it up for a pittance. At the least, then, you can avoid it being redeveloped. Or, if you are so minded, you can all make a stinking profit at the council's expense.

JQ.

eglwysman wrote: »

Well we have put a petition together from everyone effect by this land that it should be offered to freely to al residents effected provided the entire land is taken up, I cannot understand how land that is landlocked with no possible way for future development to be granted how it can be worth anything? For me it is like trying to sell someone a car with no MOT and saying this car can never have an MOT, The car is worthless as it can never do the job it is their for, THis land can never be used for development or anything so how is their a value on it?

Surely the value of something like this is only worth what someone is willing to pay for it?

A strange anolgy. A car with no MOT or prospect of one does have a value - that's how breakers earn a living. The seats are worth £50, the wheels £50, etc etc.

All land has a value, we live on an island and it is a scarce resource. Just because you don't want to pay for it does not mean it has no value, someone will pay for it. It may be landlocked now, but that land will still exist long after the current houses have crumbled.

The land in question is circa 2.5 acres, are you suggesting that if you suddenly acquired a 2.5 acre garden it would not increase the value of your house.

As someone has already said, the land in question belongs to everyone else and I certainly don't think the council would give it away for free as there'd be a public outcry - I'd give them £10,000 tomorrow for 2.5 acres and there's plenty out there would give 20 times that.

If you all genuinely don't want to pay I believe the best way forward would be to offer to take a licence for the land. This would enable you all to occupy the land and maintain it to the standard you require, but the Council would still own the land and could take it back off you at any time. If the land is as you say it is it's unlikely they'll ever want it back, you therefore get the longterm enjoyment out of it but the Council have not given it away for free - everyone wins.

zappahey

eglwysman wrote: »

I cannot understand how land that is landlocked with no possible way for future development to be granted how it can be worth anything?

You want it. That fact alone gives it value.

How much would it add to the value of your house? That's its minimum value.