How much is land per sq foot in Beckenham?
Asked on Mar 14 2010,
General in Beckenham |
Depends if it has planning permission.
If it's got planning permission for housing or is likely to get it, you can work it out. It's not the actual amount of land you are interested in, but how big a house you are going to be allowed to build on it. The remainder is just of more or less value as a garden.
Here's a simplified calculation.
Say you've got a site with planning permission for a house of 1500 square feet. In Beckenham property prices are probably around £280-300 per square foot. So that 1500 square foot house should be worth £420k-450k when it's finished.
It will cost you about £100 per square foot to build the house (maybe £30 more, maybe £10 less) - in total £150k.
A builder will want to make a bit of profit, traditionally about 20% on the cost of the land and the building work, so the site will likely cost upwards of £200k:
+ Building works £150k
+ Profit £70k
= house price £420k.
So if the site costs £200k, your land price is £200k/1500 = £133 per square foot.
Answered on Mar 15 2010,
Land can't be valued by Sq foot unless it has planning consent and if so the land would usually fetch between 35% and 40% of the value of whatever you can sell the house you have planning for. If it is garden or amenity land it really comes down to what someone will pay or the vendor will sell at and how many buyers are going to be interested Garden and amenity land is usually sold at auction if we can help let me know.
Answered on Mar 16 2010,
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