Interested in buying parcel of land

glengorms

Never done this before, so complete novice and seeking advice on what questions I need to ask from the offset/ what pitfalls I need to be aware of. 

It's a 1.12 acre plot for sale via land agent in North Cornwall, guide price £30,000.  Bids and final offers by 29 August - do I need to offer more than £30,000 or, like a house, offer a bit below?  It's grade 3 agricultural land but suitable for hobby farming.  I'd be hoping to market garden/ orchard and camp on it or get a static - don't think there's a chance I could build on it at this stage as no buildings currently on land (?). But would really like to put a shed/ storage building on it, possibly a polytunnel. Water already on site. There's nothing listed in the particulars about an overage regarding developing/ improving the land.  No other services listed, but would be going for solar and possible oil. 

Do I need to complete searches and, if so, which ones?

Any advice or pearls of wisdom appreciated, thank you.

user1977

glengorms said:

do I need to offer more than £30,000 or, like a house, offer a bit below?

Well, have you any idea what it's actually worth? No point thinking you've got a bargain if you buy it for £25k and then work out it's only worth £10k...

glengorms

I don't.  If the land agent has it listed as £30,000 how do work out whether it's less than that?  As I said, complete novice

QrizB

glengorms said:

I don't.  If the land agent has it listed as £30,000 how do work out whether it's less than that?  As I said, complete novice

I've got relatives in Cornwall with a smallholding. They told me (relatively recently) that the going rate for agricultural land is around £10k per acre, but that small plots always command a premium as horsey types like them for paddocks etc.

So £30k might be what it's worth, if you're a local with a horse.

(Looking on Zoopla, I think I've spotted the plot? There's a second plot from the same agent, 4 acres for £50k, which is closer to the supposed norm.)

Edit to add: are you local enough that you can be there most days? Hobby farming isn't really something you can do from 100+ miles away.

Section62

glengorms said:

Never done this before, so complete novice and seeking advice on what questions I need to ask from the offset/ what pitfalls I need to be aware of. 

It's a 1.12 acre plot for sale via land agent in North Cornwall, guide price £30,000.  Bids and final offers by 29 August - do I need to offer more than £30,000 or, like a house, offer a bit below?  It's grade 3 agricultural land but suitable for hobby farming.  I'd be hoping to market garden/ orchard and camp on it or get a static - don't think there's a chance I could build on it at this stage as no buildings currently on land (?). But would really like to put a shed/ storage building on it, possibly a polytunnel. Water already on site. There's nothing listed in the particulars about an overage regarding developing/ improving the land.  No other services listed, but would be going for solar and possible oil. 

Do I need to complete searches and, if so, which ones?

Any advice or pearls of wisdom appreciated, thank you.

Camping, caravans, greenhouses/polytunnels, sheds, solar panels, and oil tanks (among other things) are likely to need planning consent if the land is currently agricultural only.  It isn't just buildings you need consent for.

Being a tourist area, the planners might be suspicious of any activity and/or applications which might allow living and/or staying on the land.

You probably need to assume you will need to live elsewhere, and factor that into how much the land is worth to you in terms of affordability.

user1977

glengorms said:

I don't.  If the land agent has it listed as £30,000 how do work out whether it's less than that?  As I said, complete novice

In the same way that you work out what any other type of property is worth. What have similar properties sold for? If you're clueless (or just need some comfort), get a surveyor's opinion.

eddddy

glengorms said:

It's a 1.12 acre plot for sale via land agent in North Cornwall, guide price £30,000.  Bids and final offers by 29 August - do I need to offer more than £30,000 or, like a house, offer a bit below? 

On a few occasions, shortly before the deadline, I've asked the agent "What kind of price do I need to offer to be successful?".  They've always given me a reasonably sensible answer.


It's pointless for the agent to suggest a low price, because then I'm likely to make a low offer which won't win.

And it would be risky for the agent to suggest an unnecessarily high price, because then I might decide it's too much and walk away without making an offer.

(But I guess there might be some agents who refuse to give any type of answer.)

glengorms

Thank you @user1977 @eddddy @Section62 @QrizB

To answer all your points.....
I live just over 5 miles away from the land, so attending regularly won't be an issue. And I'm a gardener by trade so know what is needed for the site to thrive.

Yes, the more acreage you can afford the cheaper it is, especially in Cornwall, and small plots (like this one) are extortionate If I had the money for 5 acres I'd definitely be opting for that, I just wasn't sure if a land guide price indicates offers need to be above or below it..  I like the idea of asking the agent @eddddy, hopefully they would be able to steer.

Any work on the land would be compliant with planning.  I know - whilst difficult - it isn't impossible to gain permission to live on land, if you can prove a genuine need for on-site residency to support the farming operation. But I'm not intending to live on the land.

I viewed both plots yesterday.  They're lovely but chatting with a neighbour the smaller plot has issues with water run off from the road in winter and can be damp - the road does have an adverse camber.  He did say the larger plot was a dry field yet the centre section of the field has reeds, which would indicate a different story.

QrizB

glengorms said:

I viewed both plots yesterday.  They're lovely but chatting with a neighbour the smaller plot has issues with water run off from the road in winter and can be damp - the road does have an adverse camber.  He did say the larger plot was a dry field yet the centre section of the field has reeds, which would indicate a different story.

Can't beat a site visit as a way to get the lie of the land

Good luck, whatever you decide. If I could afford a couple of acres it would be a tempting hobby project, but as I can't it's a moot point!

Section62

glengorms said:

....
Any work on the land would be compliant with planning.  I know - whilst difficult - it isn't impossible to gain permission to live on land, if you can prove a genuine need for on-site residency to support the farming operation. But I'm not intending to live on the land.

I viewed both plots yesterday.  They're lovely but chatting with a neighbour the smaller plot has issues with water run off from the road in winter and can be damp - the road does have an adverse camber.  He did say the larger plot was a dry field yet the centre section of the field has reeds, which would indicate a different story.

It isn't impossible, but you won't know until you've applied for and got consent... which you wouldn't have before you'd have to commit to buying (in this case)

If these are the plots QrizB and I have seen then although classified as agricultural, the land appears to have been pasture for a long time.  The reeds in the larger field might suggest the land has never been drained.  If so, a further complication might be the need to have a screening/EIA done, and possibly get consent from Natural England, before you can start cultivating them

I also noticed on the aerial pictures one of the properties neighbouring the small field has an area which is possibly a manege...  if so, that might explain why the £/acre guide price is higher, e.g. if the vendor knows there is someone keen to buy.

glengorms

@Section62 what you can see on the aerial pictures is a portion of the field that, at some point, was cordoned off and is part of the neighbours property.  He's got veg beds, chicken coop and bees on it.  He isn't the owner but works for the farmer that owns the 2 plots.

Thank you for the advice about the screening/EIA and possible consent, all useful info.