Development Land and access value?

Hermann

Section62 said:

propertyrental said:

Erin177 said:

.....
There is another plot available but I'm told our plot is their strong preference. There's no other good access avaliable to them.
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Go and talk to the other owner.

Between you, you have the developer over a barrel since his 50 plot development is dependant on one of you selling. Rather than undercut each other, why not agree a value (on top of market value) between you and share the extra.....?

300.

If the development already has consent (or is identified in the Local Plan as a housing site) then a development of that size is likely to be something the local council is keen to see built - it helps them meet their new-build housing targets.

Which raises the possibility the council could help the developer by using CPO powers to acquire the land necessary to construct the road.

That could turn the barrel into something much less attractive.

Difficult to see a Local Authority making a compulsory purchase when there is a willing seller ready to negotiate.

babyblade41

Be careful as if there is enough social housing included in the development then a compulsory purchase order could be imposed 

ReadingTim

It's a negotiation like any other: the seller wants to sell for as much as they can, the buyer wants to pay as little as they can.  They either agree a figure which both parties are willing to accept, or they don't.  

On the one hand, the buyer claims the OP's property is their preferred option.  This might just be flattery to try and get a sale, it might be true.  If it is, the developer might be willing to pay a little more, but as they have another option, they might not.  And they're not going to write an blank cheque to anyone, as they're in business to make a profit.

Finally, the OP should consider that if they don't reach an agreement with the developer, whether they want to live behind a building site for the next few years, and once that's finished, whether they want 300+ new neighbours.  

Slinky

And it may not be just 300 new neighbours, could be closer to 400/450 units. Our village had consent for 300 and there's about 450 now with various blocks of flats squeezed in that weren't in the original plans. Over the 10 years they took to develop the site, a lot of things got changed, for example areas designated 'employment land' that got flats built on as the developer advertised it as being available for commercial development, but apparently no interest was shown. Well it wasn't going to be consdering it took them 10 years to get to that part of the site to start building!