Buying right of access

Stuart1918

Hello,

Sorry if this is in the wrong place, this is my first thread. I own a property (on approx 500m squared) that has a right of access running through it to a piece of land behind (approx 750m squared) which is owned by the neighbour (approx land 3,500m squared). The right of access is only to the land behind and cannot be used to access his own property. The land behind is locked in on all sides and so is completely worthless to a 3rd party.

The neighbour has suggested that the land has been valued at £50k and he would be willing to close the right of access to it for £25k.

The land was sold in 1955 for £200 so based on inflation is now worth about £4,700. Apart from that, I cannot see any further value as he has tried to get planning permission and been refused completely, the last refusal stating that he will not be allowed to develop on it full stop.

Due to this, he has gone from never using the right of access through our land to now using it regularly to park his work vehicles on the land behind. This in itself isn't enough of a nuisance for us to pay over the odds for the access to be closed but at a reasonable price, I would be willing to consider it.

Hopefully that's enough information so my question is - How much do you think the land is actually worth given it wouldn't increase our house price or decrease his; and how much do you think closing off the access should be?

I can only assume he's valued it so highly because his nose is out of joint about not being able to develop the land and make a substantial sum of money.

Thank you!

Money_saving_maniac

Perhaps you might want to get a valuer to come and look at it and give you a professional opinion. You don't have to tell him you don't own it.....

It could be worth buying the land rather than just buying the right of access to it, if you are going to end up paying. Bigger garden or an orchard

Remember at the end of the day, a house is worth what someone is prepared to pay....and the same with land.

Davesnave

Stuart1918 wrote: »

The right of access is only to the land behind and cannot be used to access his own property. The land behind is locked in on all sides and so is completely worthless to a 3rd party.

How can this be the case if the land runs with access?

The owner is using it for temporary storage of vehicles, which are not fixed objects, but how is the land's use classified at the moment, and could it be used for the storage of other things, or something related to agriculture?

The above really determines whether it could be of use to a third party, or if the neighbour might conduct an activity there which might devalue your property and/or encourage you to buy at an inflated price.

1955 values linked to general inflation really have no bearing on modern pricing of any unique parcel of land.

moneyistooshorttomention

Unfortunately - it is the case that 1955 land values cant be inflation-raised upwards to see what it would be now.

Land and housing cost a lot more in real terms - try checking out how the population of the country has increased between 1955 and 2016 and you'll see why. So many extra people after the same amount of land - so the Law of Supply and Demand has come into effect. Result being huge real increases in the price of land.:(

The other bit being = does that right of access state in your Deeds "at all times and for all purposes" etc etc - ie the standard wording for ROWS? If it states something more restrictive than that - eg for that home-owner and his visitors only - then that might be more hopeful. Not that that would stop him lying and saying someone he was renting some space there to was a "visitor" of his - even though they werent iyswim....

Mistermeaner

Just because you buy right of access it does not cancel his. Multiple persons can have right of access.

Or did you mean pay him to remove his right of access? I'm not sure such a transaction is possible as he would then no longer have access to his land?

AdrianC

The land's value to a buyer is whatever they will pay for it, and to the seller whatever they will sell it for. No more, no less. Unless a buyer is willing to pay the price the seller's asking, there's no way to force the pair of you to come to any kind of agreement, so there won't be a sale. Nobody can force him to come down in his asking price, so the question is whether you want to go up in what you're willing to pay for it.

As far as using the land for parking - it's his land, he has a right of access to it. Again, there's no way of forcing him to accept any particular figure, so it's whether you want to increase what you're willing to pay.

If neither of you are willing to move, then the current status quo will remain.

AdrianC

Mistermeaner wrote: »

Or did you mean pay him to remove his right of access? I'm not sure such a transaction is possible as he would then no longer have access to his land?

There may be other routes of access, across other land, to that particular land.

bouicca21

I'm puzzled. If the land is locked on all sides, what woukd the owner use it for after he has extinguished his right of access? If indeed his proposal is for extinguishment.

Has he the potential for opening another access? In which case, again what will he use it for? If what he is capable of using it for is potentially detrimental then think about buying the land itself. If OP doesn't give a flying **** about the use of the land then it's just a polite thanks for the offer, not interested.

Norman_Castle

The neighbour has suggested that the land has been valued at £50k and he would be willing to close the right of access to it for £25k.

If you buy the land the right of access is irrelevant as you can decide who has access to it. I would get an independent valuation and then decide what the land is worth to you.

AnotherJoe

bouicca21 wrote: »

If OP doesn't give a flying **** about the use of the land .

Maybe he does give a flying **** since he has a helicopter and that's why he's be happy to keep the land and remove the right of access across OPs land

OP, did you mean to say, the owner of the land thinks its worth £50k and will sell it to me for £25k rather than just the rights to access it for £25k? Since the latter makes no sense.

OP, the land is worth, as said, what the owner is willing to pay for it and what you are. Nothing more, nothing less, and what it was worth in 1955 is as relevant to its price, as that my car is blue.

The Owner may believe that at some future date he'll get planning permission, when it would then be worth £50k but he's willing to trade that future possibly off for £25k right now.

G_M

You are proposing buying the land?

Or you are proposing buying (extinguishing as Bouicca says) the ROA?