Self-build land in London - how much is it worth?


T

Troy Steadman

I've got a problem with a defective title in a narrow strip of garden.

Advice seems to be that to avoid compromising our forthcoming house
sale we should split the house away from its garden. We can do that
readily leaving a 39m x 14m plot for a bungalow and a 15m x 4.5m plot
with an existing garage, parking space and road access.

Here's the photos, aerial photos etc:

http://tinyurl.com/bym7f

The two plots are connected notionally by a 1-1.5m narrow path (that
should not present a practical problem because we have unresticted use
of the defective bit).

So the questions are:

1) Is it possible to get permission for a house with such
narrow access to the road?

2) If so approx how much is this plot worth? Around 1 mile
to Surbiton Station?

Any help and advice appreciated:



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T

Tumbleweed

Troy Steadman said:
I've got a problem with a defective title in a narrow strip of garden.

Advice seems to be that to avoid compromising our forthcoming house
sale we should split the house away from its garden. We can do that
readily leaving a 39m x 14m plot for a bungalow and a 15m x 4.5m plot
with an existing garage, parking space and road access.

Here's the photos, aerial photos etc:

http://tinyurl.com/bym7f

The two plots are connected notionally by a 1-1.5m narrow path (that
should not present a practical problem because we have unresticted use
of the defective bit).

So the questions are:

1) Is it possible to get permission for a house with such
narrow access to the road?

2) If so approx how much is this plot worth? Around 1 mile
to Surbiton Station?

Any help and advice appreciated:
IIRC you may have a problem with CGT if you split it that way.

--
Tumbleweed

email replies not necessary but to contact use;
tumbleweednews at hotmail dot com
 
T

Troy Steadman

Tumbleweed said:
IIRC you may have a problem with CGT if you split it that way.
Ta for that hint, the HMRC site was down this morning. Presumably that
is nothing to do with the narrow "neck" of land between the two bits of
land?

ISTR that the optimum method of developing was:

1) Buy a house in many acres in Esher and live in it (ie PPR).

2) Build a house with a very large garden in the garden and move into
it.

3) Sell the old house and use the proceeds to build a new house in the
new garden.

....and so on until the Revenue latch on. Thanks for your input
Tumbleweed.



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T

Troy Steadman

Troy Steadman said:
1) Buy a house in many acres in Esher and live in it (ie PPR).
Oops...*not* many acres, only works for smallish plots?






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O

Owain

Troy said:
ISTR that the optimum method of developing was:
1) Buy a house in many acres in Esher and live in it (ie PPR).
2) Build a house with a very large garden in the garden and move into
it.
3) Sell the old house and use the proceeds to build a new house in the
new garden.
....and so on until the Revenue latch on. Thanks for your input
Tumbleweed.
The minute you separate the second plot off from the garden of the
first, either the first or the second will cease to be your 'sole or
main residence' so may attract CGT.

Owain
 
R

Ronald Raygun

Troy said:
Oops...*not* many acres, only works for smallish plots?
Not quite true, I gather. There's something about the grounds being
commensurate with enjoyment of the house, isn't there? Hence a huge
mansion set in 10 acres of landscaped parkland could well count all of
it as its "garden", whilst a bijou cottage could not.
 
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R

Richard Faulkner

Owain said:
The minute you separate the second plot off from the garden of the
first, either the first or the second will cease to be your 'sole or
main residence' so may attract CGT.

Owain
But if you sell the land 1st, it is part of your PPR and not subject to
CGT, (up to about a quarter acre IIRC).
 
D

Doug Ramage

Richard Faulkner said:
But if you sell the land 1st, it is part of your PPR and not subject to
CGT, (up to about a quarter acre IIRC).
The "permitted area" is currently 1/2 hectare, which is ~ 1.25 acres.
 
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M

me

Doug Ramage said:
The "permitted area" is currently 1/2 hectare, which is ~ 1.25 acres.
And the government is looking for up to about 40 units per hectare, so
you should be able to do it 20 times!
 

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