recommendation for land Agent specific to renting land to Network Rail, and land insurance

leftandfred

Hi everyone,
hopefully I've selected the correct category for this post.
I have purchased some land that runs alongside the railway.

A Land agent on behalf of Network Rail have contacted me asking to possibly rent some of the land for an up and coming project, things mentioned so far have been to use the land for storage, siting of a welfare unit, siting of a container for equipment storage, and possible long term access for vehicle parking (this would mean vehicles passing my own house)

I wouldn't have a clue on what I should charge.

So would it be best to use a land agent that has previous experience of dealing with network rail ?

Could anybody recommend such an Agent with this experience ? (I'm situated in the north west)
The agent acting on behalf of network rail have already said they pay all agents fees.

Also should I insure this land for public liability as network rail staff will be using it ?
can anyone recommend a insurer for land only ?
I have contacted NFU buy they say they don't insure land only.

Many thanks

Section62

leftandfred said:

Hi everyone,
hopefully I've selected the correct category for this post.
I have purchased some land that runs alongside the railway.

A Land agent on behalf of Network Rail have contacted me asking to possibly rent some of the land for an up and coming project, things mentioned so far have been to use the land for storage, siting of a welfare unit, siting of a container for equipment storage, and possible long term access for vehicle parking (this would mean vehicles passing my own house)

I wouldn't have a clue on what I should charge.

So would it be best to use a land agent that has previous experience of dealing with network rail ?

Could anybody recommend such an Agent with this experience ? (I'm situated in the north west)
The agent acting on behalf of network rail have already said they pay all agents fees.

Also should I insure this land for public liability as network rail staff will be using it ?
can anyone recommend a insurer for land only ?
I have contacted NFU buy they say they don't insure land only.

Many thanks
Dave

Any good land agent will be able to negotiate with NR on your behalf.  From NR's point of view this kind of thing is routine work, they will have standards and probably a scale of compensation they are willing to pay.

In terms of liability, you should probably aim to ensure the contract with NR makes them and their contractors liable for anything that goes wrong, other than anything you can't legally transfer your own liabilities for.

If the land is part of the property you have household insurance for you may (probably must) need to tell your own insurer about the work going on - if they want to charge an additional premium then that is something else you can ask NR to compensate you for.

If "long term access" means a permanent right of way over your land then you'll also need to have a solicitor involved in amending your deeds, and if you have a mortgage then the mortgage co will need to know and probably give their consent to the change.

Bear in mind NR likely have statutory powers to enter your land even if you don't consent - so beware of thinking you "hold all the cards" or "have them over a barrel".  They will negotiate with you first because it is the cheapest and easiest way, but if you get too greedy/difficult they may just go down one of the legal routes instead.

leftandfred

Thanks Section62,

lots of good info there and lots to think about.

The land is very close, but not part of my house that i have a mortgage on.

The land has its own title number seperate to any dwellings, but does have a barn that they would have to either take down or drive through to gain access.

when i say long term access its definately not a permanent right of way that they are looking for, the project is between 7-10 years but where i am situated they are saying the job is possibly 3-5 years.

thanks i'll start my search for a land agent

TroubledTarts

Be very careful the contract that you sign does not give them permanent access for the future.

Sometimes you have to consider if these things are worth the risk. 

user1977

You’ll want a (commercial property) solicitor as well.

silvercar

May be worth thinking about if you want to sell it rather than lease it.

iff you do lease it, make sure the lease includes details of the condition on return. Would you want the barn rebuilt? 

daveyjp

Site compound rates are what NR can get away with.

Remember NR won't have alternative sites to choose from and any cost of a compound will be lost in the millions of pounds they will be spending on the project. Ask the agent what total scheme cost is and consider how much of that would be sensible.

A good local commercial agent will advise, but temporary use rates really are about negotation rather than comparable evidence.  Needless to say for a period of years this could be a very nice earner for you.  A know a company that received £1,000 a week for 52 weeks for about an acre of their land on an £8m scheme.

leftandfred

Thanks Guys, lots more good info there. 
The solicitor i used to purchase the land also did commercial so ill speak to them. And make sure the lengh of lease is correct. I think it will be around 3-4 acres that they need to use.
Apparently NR don't really like to purchase land, more often than not they are selling off what they can.
The total scheme cost is around 3.9 Billion, and the Billion isn't a typo :-0