EmED Posted June 10, 2013 Share Posted June 10, 2013 Our neighbours are interested in buying a strip at the back of our garden in SE22.The total size of the garden is 15.5 feet wide and 55.3 feet deep.The area they'd like to buy is about 15.5 feet wide and about 4 feet deep.Does anyone have any idea at all of a ballpark figure that might be about right for this? Has anyone done anything similar?Thanks so much for any help at all on this! :) Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/ Share on other sites More sharing options...
gm99 Posted June 10, 2013 Share Posted June 10, 2013 Assuming you are the freeholder: if there's no development potential and it's not going to have a material impact on the amenity of your garden and therefore value of your house then it's worth somewhere between what you want and what they are willing to pay, factoring in neighbourly relations etc. If they want the extra garden to enable them e.g. to build an extension then it may be worth more to them than if it just for a veggie patch.I have heard figures around ?3-5k for around 20m2 of undevelopable garden (ie no access), but that may not be relevant to your case as it is only a small strip relative to the size of your garden. If you decide to sell, make sure that your neighbours pay your legal fees (including a survey for the purposes of land registry records) and if you have a mortgage check whether your mortgage co needs to be notified.Disclaimer: I'm not a legal professional - these thoughts are based on my own previous enquiries. gm Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-652727 Share on other sites More sharing options...
lameduck Posted June 10, 2013 Share Posted June 10, 2013 I would seriously think twice about selling any part of your gardenat this moment i am being bombarded by developers and have had offers on parts of my place for access etchad i sold any, i would not be in such demandis it possible to rent the piece of land to your neighbouryou never know you may need it in the futurelynne Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-652756 Share on other sites More sharing options...
EmED Posted June 10, 2013 Author Share Posted June 10, 2013 Thanks so much, this is all really helpful. Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-652798 Share on other sites More sharing options...
Curmudgeon Posted June 10, 2013 Share Posted June 10, 2013 You also need to fit into the equation whether they wat it to build right up to the boundary? In which case you may find it less appealing Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-652825 Share on other sites More sharing options...
Dr De Soto Posted June 10, 2013 Share Posted June 10, 2013 For a typical East Dulwich house with 15ft wide garden, my rough estimate (from looking at how house prices vary with garden size) is around ?1,000 per extra foot of length, i.e. for a 60ft garden you might expect to pay ?30k more than for a 30ft garden. If this is the case, then you'd be looking at around ?4k for your strip of garden. Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-652833 Share on other sites More sharing options...
LondonMix Posted June 10, 2013 Share Posted June 10, 2013 Dr De Soto's equation sounds about right to me. However, I'm not sure you'll get less for you house for losing the 4ft. The pricing difference really quicks in one you go from medium size to small or from small to tiny.Have they told you what they want to do with it? Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-652839 Share on other sites More sharing options...
Dr De Soto Posted June 10, 2013 Share Posted June 10, 2013 LondonMix, how about this little formula for ED houses:Value of (15ft wide) garden = ?10,000 x sqr(length of garden). So:Length (ft)......Value (?)0.................025..............50,00050.............~70,00075.............~85,000100........... 100,000 Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-652855 Share on other sites More sharing options...
wee quinnie Posted June 12, 2013 Share Posted June 12, 2013 . Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-653393 Share on other sites More sharing options...
LondonMix Posted June 12, 2013 Share Posted June 12, 2013 Looks good. I might have the value tale off more above 75ft. Anything more than 75ft I think is just a burden but that might just be me! Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-653439 Share on other sites More sharing options...
wee quinnie Posted June 12, 2013 Share Posted June 12, 2013 Hmm. I bought a section of my neighbour's garden about 2 years ago. It is about 60 ft by 90 ft (the bit i bought). I paid a lot less than Dr Soto's formula might suggest. Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-653617 Share on other sites More sharing options...
LondonMix Posted June 13, 2013 Share Posted June 13, 2013 You bought a 90ft by 60ft section of someone elses garden!? The section you bought is signficantly larger than any whole garden (particularly the width) I've ever seen in ED. Was this a house in ED? Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-653705 Share on other sites More sharing options...
wee quinnie Posted June 13, 2013 Share Posted June 13, 2013 LondonMix Wrote:-------------------------------------------------------> You bought a 90ft by 60ft section of someone elses> garden!? The section you bought is signficantly> larger than any whole garden (particularly the> width) I've ever seen in ED. Was this a house in> ED? Yes I have a big garden by ED standards - it pretty much doubled the size of my garden. My garden is L-shaped btw - so instead of having 3 gardens adjoining me, I now have 6. As for the valuation - i am related to an estate agent on LL, I asked his advice. He told us that it was quite a tricky one to estimate as in his opinion, the transfer of land would knock more off the value of our neighbour's house than it would add to ours. All of the sums he mentioned were a lot lower than what is mentioned further up this table. We bought the land specifically to garden in, and our deeds forbid building, and there is no access to the road from the new bit - so I can't see that there is a development potential, btw. Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-653711 Share on other sites More sharing options...
Penguin68 Posted June 13, 2013 Share Posted June 13, 2013 and our deeds to forbid buildingThat is a useful thing to remember, you can sell land with restrictive covenants on it, which would preclude a purchaser (or his/ her purchaser downstream) doing things which you don't want - i.e. building on the land, using it for commercial purposes and so on. Some covenants can be challenged (I have a property (not in ED) formerly bounded by agricultural land where I am obliged to provide cattle-proof fencing - however the land is now entirely surrounded by other domestic properties and I could probably get the covenant altered on that basis).In general, the more restrictive covenants, the less you may be able to ask for the land (as you are reducing its potential value) just as getting e.g. planning permission for an extension or second building, even where you don't plan to build yourself, can increase the land value. Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-653716 Share on other sites More sharing options...
char1i3 Posted June 28, 2013 Share Posted June 28, 2013 ?200 per square foot is a decent price for land - ?400k for a 2000sqft plot to build on. Your neighbour wants around 60sqft so start with a price of ?12k and then agree a price that you are both comfortable with. As has been said, you probably wont change the value of your house by selling it. You can also do the forms yourself at the Land Registry using form TP1 (transfer part of a property). Very straightforward, and no need for lawyers, or surveys.Charlie Link to comment https://www.eastdulwichforum.co.uk/topic/33123-value-of-garden-in-east-dulwich-per-square-foot/#findComment-657466 Share on other sites More sharing options...
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