How to value car park

pramsden

I own a small rental house in the North Of England. Attached to the house is a small piece of land which is used for car parking for the rental house. This land is on a separate deed than the house it'self. It turns out that the local council may need access through the land to carry out works to a local waterway. They have a legal obligation to carry out these works and have recently trespassed through my land and forced a padlock off the gate in order to do so. They have been informed that access through this land is not allowed. If they were to offer to buy this land off me how would you go about valuing it. It will easily park 2 vehicles. But it would represent a capital loss to the rental property and also a loss in devalued rental income

diggingdude

I very much doubt they will pay you anything

eddddy

I can't see why they would want to buy the land.

They should ask your permission to access your land - but some contractors might just decide to trespass anyway, knowing that you're unlikely to to go to the expense of getting an injunction to stop them.

But if you refuse access, and they want to 'play by the book', they'll probably use the Access to Neighbouring Land Act 1992 to apply to court to get an access order.

But if they damaged your padlock, they are very likely to be 'in the wrong' - that could be criminal damage. And they should fix the damage they caused.

AdrianC

pramsden said:

It turns out that the local council may need access through the land to carry out works to a local waterway. They have a legal obligation to carry out these works and have recently trespassed through my land and forced a padlock off the gate in order to do so. They have been informed that access through this land is not allowed.

Why on earth would you refuse them access?

I strongly suspect they have a legal right of access, given that they're carrying out legally-obliged maintenance to a waterway (and I'll bet you'd be the first to moan if they don't maintain it and your property is damaged or floods...), but even if they don't... why on earth would you refuse?

If they were to offer to buy this land off me how would you go about valuing it. It will easily park 2 vehicles. But it would represent a capital loss to the rental property and also a loss in devalued rental income

Quantify the change in sale or rental value.
Add a bit for hassle factor.

silvercar

.In simple terms, its value to you is the difference between the value of house with land and the house alone. It's value to anyone else depends on what they could use it for; as an access only it's value is fairly limited