Grazing land value

Nosmo_King_2

Does anyone know how to value a small piece of land I have inherited a share of? It is no more than 1 acre , It cannot be built on, it slopes down from all sides (I think it is described as rough pasture?) and has a public right of way down 2 sides. It was previously rented for £100 pa. Someone told me that a rough estimate would be 10 times annual rent but that may be incorrect.

theartfullodger

It's worth whatever one person is willing to sell it for &, at the same time, someone else is willing to buy it for. (e.g. someone might be prepared to pay a lot to avoid possible buildings/trees spoiling view.)

Anything else is a guess, speculation.

00ec25

try google for agricultural land value, it obviously depends on:
- location
- type
- planning restriction/ zoning classification

Davesnave

As agricultural land, it's pretty useless on its own, but people buy land for other purposes, such as camping, (Google 28 day rule) conservation and because they live next door. A one acre-ish paddock might be OK for a pony if close to habitation, but the RoWs will put many prospective equestrians off, I'd imagine.

Also, as artful points out, stopping sopmeone else doing something on the land might motivate adjacent owners.

A single, unserviced pony paddock might make £20k down my way, but it all depends on the exact context.

AdrianC

Nosmo_King wrote: »

Does anyone know how to value a small piece of land I have inherited a share of?

Value for what purpose?

What value was put on it for probate?

theartfullodger

For those who don't know the name, herewith....
https://en.wikipedia.org/wiki/H._Vernon_Watson

Davesnave

theartfullodger wrote: »

For those who don't know the name, herewith....
https://en.wikipedia.org/wiki/H._Vernon_Watson

I believe this is slightly incomplete,as I'm almost sure he teamed up with that German guy Nick Rauchen after WW2's hostilities ended.

smallholdingsister

2 acres on a 45 degree slope just went for 33k in my village. Might raise your expectations Dave!

Davesnave

smallholdingsister wrote: »

2 acres on a 45 degree slope just went for 33k in my village. Might raise your expectations Dave!

Ah, but that's your village, and it's posher than my village. They're probably going to open a dry ski slope.

[Deleted User]

It hugely depends on the plot itself and what it can be used for, does it have road access or is it landlocked by other owners, does it have services ie water, electric, is it fenced.

Grazing land in my area goes for circa 50K an acre as pony paddocks command more money than large acerage per acre.

martindow

If the RoWs are down the sides they could be fenced off from the main field which may assuage some buyers' doubts. Unless it has a water supply it will not be suitable as a paddock. How steep is the slope? If it is too steep it would not be good for horses.

Having said this, I think it may go for a surprising amount. People like the idea of buying a small patch of land to make into woodland or manage to encourage wildlife for instance.