Allotments 4 All
General => News => Topic started by: vjandmj on June 15, 2009, 13:46:11
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Hi does anyone know what the valuation of a freehold allotment in leicestershire would be as i am thinking of selling one that i have just been left in a will, it is approx 4 miles from Hinckley. ???
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Vj get an estate agent in and let them find out the price for you.
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Strictly speaking, what you have is the freehold reversion. It's value depends on the state of the site, what obligations you have to your tenants, how much rent you get from them, how easily you can get evict them, and how easily you can do anything else with the site.
At one extreme, if the site is let to an association on a long lease and you have an obligation under the lease to maintain the boundaries and supply them with water, all for a peppercorn rent, and some of the tenants have been using their plots to bury asbestos, and others have set up home in their caravans then you've inherited a huge liability - bad luck! At the other extreme, if the site is in the middle of the town and the tenants are all on a year's notice, and there are lots of other allotments available locally, then there's very little stopping you from kicking them all off, and selling to a developer for several million.
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There is no tenants on the site it is a single allotment that was ownrd and tended by my father untill he died last year now it has come to me, i have asked a local estate agent and they hadent got a clue as to its value.
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i have asked a local estate agent and they hadent got a clue as to its value.
Hi vjandmj. To be honest if that was the answer I'd find another estate agent, who wants the work !!
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It's a field then? Is it separately fenced? How big? What kind of access? On a site with other freehold allotments? What covenants are there on the deeds? Does anyone else exercise any rights over it? Did you father sell his produce?
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If you want to get rid of it why not put it up to auction,let the market decide?
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vjandmj,
Give Alistair Bentons a ring in Melton Mowbray they are estate agents, auctioneers and land valuers for all over Leicestershire I'm sure they would give you the advice you are after, :)