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Valuing paddock land before making an offer

(3 Posts)
blanchedevereaux Tue 24-May-11 13:40:45

We are looking to make an offer on a house that is on the market for £470000. Previously it was marketed at £550000 in late 2010 with 3 1/2 acres which is now available under seperate negotiation.

There is no chance of developing this land but a neighbour who backs onto it is interested in buying some if not all of it as they have no garden at the moment. I don't think we want the whole 3 1/2 acres and there may be a compromise to be made between us and the neighbour if we can come to an agreement to split it between us. We'd like an acre or so.

Does anyone know any useful websites or contacts to help value this type of land? I realise demand is the key and it looks like we have some "competition" from the neighbour but I'm finding it hard to work out what a decent starting offer would be with maybe 1/2 the land included.

frostyfingers Tue 24-May-11 17:21:36

Look for a land agent type, depending on where you are some estate agents also do farming stuff as well. If you have a good local paper with a farming section there may be some ads in there. Word of warning though, if it's currently agricultural and you/your neighbour wants to change it to domestic, ie garden, you will probably need planning permission for change of use.

blanchedevereaux Fri 27-May-11 20:23:30

Thanks! Had a useful chat with a land agent today. We want to keep it as agricultural but the neighbour who wants to buy wants to change it (or his bit) to garden.

Going back tomorrow to discuss more with vendor.

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