Paying Attention To Detail

[Parahandy]

https://www.rightmove.co.uk/commercial-property-for-sale/property-77530363.html

 

I just had a fellow Boater arrive at the door grinning from ear to ear with an advert for the above , 83 years of age old Steve has been looking for a piece of land for years . Anyway we duly sat down over a Beer and had a look at this Canalside Land which is adjacent to Bridge 110 on the GU South by Linslade . Old Ajax must have popped his clogs I thought because I know the Mooring well , expanding the advert for further Details we soon found out that wasn't the case . It appears his intention is to retain the Mooring but sell the land which is clearly absolutely no use to a Moorer . Perhaps we will still buy it and fetch an old Bus onto the Land , six months of havoc to follow he wont be long on decamping for Pastures new , just a thought ?

Edited March 15, 2020 by Parahandy

[Athy]

To be fair, no mention of a mooring is made - though the first picture does give the impression that there might be one.

What is the importance of the piece of land, that it justifies a price of £60,000?

[Parahandy]

6 minutes ago, Athy said:

To be fair, no mention of a mooring is made - though the first picture does give the impression that there might be one.

What is the importance of the piece of land, that it justifies a price of £60,000?

I dont know how they justify such a valuation , I also wonder if the validity of the mooring as far as the CRT is concerned alters now it is no longer attached to the Land . Presumably Ajax has done his homework .

[Felshampo]

If you could get planning provisional permission from the local council for a couple of properties then the maths is simple. A builder built two large houses on a similar sized plot in our village. He paid 100,000 for the land and told us each house was about 200,000 to build. They sold for 450,000 each. Not a bad profit for two years work. 

[MtB]

2 hours ago, Felshampo said:

Not a bad profit for two years work. 

 

About right I'd say, given you appear to be overlooking the risk he took in buying the land. For a start he might have been refused PP. 

 

 

[magnetman]

As I understand it you can apply for planning permission on land you don't own. 

 

This happened with a house my mum once owned. she was going to sell it and asked the council about PP for redevelopment and they told her someone had already applied and been refused as it was in a conservation area. Whoever had applied had nothing to do with the ownership of the property but was aware it was coming onto the market. Turned out to be an associate of the estate agent. 

 

25 years ago. House still there unchanged. 

 

Maybe this was an unusual situation. 

 

 

Edited March 15, 2020 by magnetman

[TheBiscuits]

7 minutes ago, magnetman said:

As I understand it you can apply for planning permission on land you don't own. 

 

This happened with a house my mum once owned. she was going to sell it and asked the council about PP for redevelopment and they told her someone had already applied and been refused as it was in a conservation area. Whoever had applied had nothing to do with the ownership of the property but was aware it was coming onto the market. Turned out to be an associate of the estate agent. 

 

25 years ago. House still there unchanged. 

 

Maybe this was an unusual situation. 

 

 

Not unusual at all.

 

The risk is that if you get planning approval for the land but don't own it it can suddenly cost you a hell of a lot more to buy it. 

 

I know a bloke that had a chunk of land that he thought was worth maybe £50k (green belt, poor farmland) and someone offered him £500k for it, so he got suspicious and investigated.

 

They had secured outline PP for a new housing estate on the land, following a quiet change to the local development plan.  So he sold it to a developer instead for over £8 million ...

 

18 minutes ago, Mike the Boilerman said:

 

About right I'd say, given you appear to be overlooking the risk he took in buying the land. For a start he might have been refused PP. 

 

It's the land value uplift clawback that stings in this sort of case.  50% of the increase in any value of the land over the next 40 years can add up to big chunk of change!

[Parahandy]

12 hours ago, Felshampo said:

If you could get planning provisional permission from the local council for a couple of properties then the maths is simple. A builder built two large houses on a similar sized plot in our village. He paid 100,000 for the land and told us each house was about 200,000 to build. They sold for 450,000 each. Not a bad profit for two years work. 

130 foot by around 70 foot I dont think he would be building any large houses not to mention the front gate abuts the Bridge Parapet , a notorious accident spot . Personally I think its ripe for one of those Agricultural sleight of hands were someone perhaps buys a Pony quickly followed by a Caravan in order to make a cup of Tea whilst they feed it ?

[Felshampo]

1 hour ago, Parahandy said:

130 foot by around 70 foot I dont think he would be building any large houses not to mention the front gate abuts the Bridge Parapet , a notorious accident spot . Personally I think its ripe for one of those Agricultural sleight of hands were someone perhaps buys a Pony quickly followed by a Caravan in order to make a cup of Tea whilst they feed it ?

That's what we thought but he originally applied for three properties. This was turned down but he did get permission for two. The plot is 50m by 20m on one side and 10m on the other so sort of triangular in shape. It originally had a small bungalow on it so they built houses with the upstairs in the roof. Still three bedrooms but technically still bungalows apparently. 

[Richard10002]

19 hours ago, Athy said:

To be fair, no mention of a mooring is made - though the first picture does give the impression that there might be one.

What is the importance of the piece of land, that it justifies a price of £60,000?

 

According to the details, The owner is retaining the gate to the mooring.

[WotEver]

16 hours ago, TheBiscuits said:

I know a bloke that had a chunk of land that he thought was worth maybe £50k (green belt, poor farmland) and someone offered him £500k for it, so he got suspicious and investigated.

 

They had secured outline PP for a new housing estate on the land, following a quiet change to the local development plan.  So he sold it to a developer instead for over £8 million ...

A very similar scenario to one of my uncles. Bought a small cottage called ‘Five Acres’ (I’ll let you guess as to why). It was the last auction lot of the day and he bought it in ‘68 for £7000, which was an absolute bargain.  He extended the house immediately he bought it and used the adjacent field for product testing (his business was seed processing). When a developer offered him a large chunk of change for the field he did his own investigations but decided to sit on it. When he died his sons sold the land for an awful lot of money and where the original house stood is now the entrance to a housing estate. 

[Tracy D'arth]

I've got an odd acre in Lancashire, been wondering what to do with it, perhaps I could buy a new boat.

[davem399]

8 minutes ago, Tracy D'arth said:

I've got an odd acre in Lancashire, been wondering what to do with it, perhaps I could buy a new boat.

I've got a couple of acres, which I think is down to my bike saddle!

[Tracy D'arth]

13 minutes ago, davem399 said:

I've got a couple of acres, which I think is down to my bike saddle!

Such clever whit, most unusual on this forum I have found, thank you.  I appreciate a good pun.

Embrocation?

TD'

[Parahandy]

The old mate went down to view the Plot yesterday , clearly no room for another Boat owing to the proximity of the Bridge . The seller intends to retain the rights to the gate which is at the far end of the Plot which allows him to access the stern of his Boat . 

[Parahandy]

17 hours ago, Richard10002 said:

 

According to the details, The owner is retaining the gate to the mooring.

Its only the stern of the Boat which abuts the land for sale Richard , the rest of the Boat is alongside an adjacent field . The Gate is simply to allow him continued access to his Boat as the edge of the adjacent field is marshland and useless for this purpose .