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I wa speaking to some builders about buying a plot of mine (I have 3 houses in a row). I have OPP for 5 5 bed houses on the plot and the builders ofered me 33% of the value of the five houses in March. I seriously considered it, but was advised away from it by my estate agent, outlining to sell the 3 properties on their own would see a marginally better return. They came back yesterday and offered 40% of the value.

What this indicates, to me, is more confidence coming back to builders and, this bit is logical, the market. I am not saying this is a turning point, it could be a dead cat bounce, but I am taking their offer. I have no faith in this country anymore, so am selling up, moving out. Renting until sanity prevails and then I'll buy a plot of land out west. House abroad has been consistent in it's value, no enormous rises, no enormous falls. I'd like a little bit of that action to return to the UK.

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I wa speaking to some builders about buying a plot of mine (I have 3 houses in a row). I have OPP for 5 5 bed houses on the plot and the builders ofered me 33% of the value of the five houses in March. I seriously considered it, but was advised away from it by my estate agent, outlining to sell the 3 properties on their own would see a marginally better return. They came back yesterday and offered 40% of the value.

What this indicates, to me, is more confidence coming back to builders and, this bit is logical, the market. I am not saying this is a turning point, it could be a dead cat bounce, but I am taking their offer. I have no faith in this country anymore, so am selling up, moving out. Renting until sanity prevails and then I'll buy a plot of land out west. House abroad has been consistent in it's value, no enormous rises, no enormous falls. I'd like a little bit of that action to return to the UK.

The thing is, the difference between 33% and 40% is not 7%, as you are stating percentage of the final suggested sale price. So essentially the offer has been upped by 21%, not bad.

But question? Is that a fixed amount or a percentage of the final sale price?

Edited by mikelivingstone

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Guest KingCharles1st

it would appear that you do not wish to develop the site yourself- are the houses derelict or something?

interesting that they want to put 5 beds up- how can you get five where three used to be anyhow.../ (oh yeah...)

If you genuinely believe the UK is toast, then yes- leave them to it.

This site seems to be the only place that understands the truth about what has happened over the last few years. The madness continues. it is one thing having an idea to develop the site, another entirely to actually take the plunge, imagine if we get a super stall halfway through that re-development- would you rather it is you or the builder taking the risk?

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I wa speaking to some builders about buying a plot of mine (I have 3 houses in a row). I have OPP for 5 5 bed houses on the plot and the builders ofered me 33% of the value of the five houses in March. I seriously considered it, but was advised away from it by my estate agent, outlining to sell the 3 properties on their own would see a marginally better return. They came back yesterday and offered 40% of the value.

What this indicates, to me, is more confidence coming back to builders and, this bit is logical, the market. I am not saying this is a turning point, it could be a dead cat bounce, but I am taking their offer. I have no faith in this country anymore, so am selling up, moving out. Renting until sanity prevails and then I'll buy a plot of land out west. House abroad has been consistent in it's value, no enormous rises, no enormous falls. I'd like a little bit of that action to return to the UK.

Is the plot in addition to the 3 houses, or includes them?

I have to assume that it is in addition, otherwise I'm baffled as to how 5*5 bed value = 3*3 bed?

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Is the plot in addition to the 3 houses, or includes them?

I have to assume that it is in addition, otherwise I'm baffled as to how 5*5 bed value = 3*3 bed?

The site has 3 detached houses on them. They're all inhabited, although one couldn't really be resold, it's a 2 bed bungalow from 1934 and really is starting to look a bit shabby. However, the plots are very decent sized and, all in all, the land is about 40 metres by 50 metres and the plans we have drawn up are for 5 * 5 Bed detached with smaller gardens. The 40% is based on anticipated selling prices i.e. they believe the houses will sell for £550k to £575k (£2.5m - £2.75m), so the spread will be for around £1m to £1.1m to me. The houses themselves are, probably, worth around £850k. The old houses will be demolished ot make way for the new ones. I thought about developing them as the profit would be much more, around £6-700k, but I don't think the market is going anywhere at the mo and the risk is too much. We still have another house which we'll keep in the area as I will have to return to London from time to time and would like a foothold in the South East

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the land is about 40 metres by 50 metres and the plans we have drawn up are for 5 * 5 Bed detached with smaller gardens.

b0110cks

50m x 40m for 5 five bed roomed detached houses? So they are either 10m wide or 8m wide? (which is the length of two family sized cars)

are you talking about Sim City?

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b0110cks

50m x 40m for 5 five bed roomed detached houses? So they are either 10m wide or 8m wide? (which is the length of two family sized cars)

are you talking about Sim City?

you may wish to go a draw it on a pice of paper and then re-look at your comment.

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The site has 3 detached houses on them. They're all inhabited, although one couldn't really be resold, it's a 2 bed bungalow from 1934 and really is starting to look a bit shabby. However, the plots are very decent sized and, all in all, the land is about 40 metres by 50 metres and the plans we have drawn up are for 5 * 5 Bed detached with smaller gardens. The 40% is based on anticipated selling prices i.e. they believe the houses will sell for £550k to £575k (£2.5m - £2.75m), so the spread will be for around £1m to £1.1m to me. The houses themselves are, probably, worth around £850k. The old houses will be demolished ot make way for the new ones. I thought about developing them as the profit would be much more, around £6-700k, but I don't think the market is going anywhere at the mo and the risk is too much. We still have another house which we'll keep in the area as I will have to return to London from time to time and would like a foothold in the South East

WOW!

Have you discovered 'tardis' technology?

Got any plans?

5 x £500K+ houses on a plot 40m x 50m

That is pretty impressive.

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the builders ofered me 33% of the value of the five houses in March.

They came back yesterday and offered 40% of the value.

Isn't this what's known in old fashioned terms as 'negotiation'?!

The first offer sounds you out, if you were distressed you would have sold. They left it long enough to figure out you were not distressed and then upped their offer.

Any serious negotiator always has a bottom, middle and top. They have realised you won't bite for their bottom offer.

I dont see what this has to do with anything other than negotiation

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The site has 3 detached houses on them. They're all inhabited, although one couldn't really be resold, it's a 2 bed bungalow from 1934 and really is starting to look a bit shabby. However, the plots are very decent sized and, all in all, the land is about 40 metres by 50 metres and the plans we have drawn up are for 5 * 5 Bed detached with smaller gardens. The 40% is based on anticipated selling prices i.e. they believe the houses will sell for £550k to £575k (£2.5m - £2.75m), so the spread will be for around £1m to £1.1m to me. The houses themselves are, probably, worth around £850k. The old houses will be demolished ot make way for the new ones. I thought about developing them as the profit would be much more, around £6-700k, but I don't think the market is going anywhere at the mo and the risk is too much. We still have another house which we'll keep in the area as I will have to return to London from time to time and would like a foothold in the South East

Hairy Troll please show a link for this planning application because this sounds like bo110cks.

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Hairy Troll please show a link for this planning application because this sounds like bo110cks.

Honestly, it really isn't worth talking to some people.

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Honestly, it really isn't worth talking to some people.

Fair enough Walter Mitty, i guess you are to busy to put up a quick link to the application. It's not that you made it up or anything...

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Fair enough Walter Mitty, i guess you are to busy to put up a quick link to the application. It's not that you made it up or anything...

Hairy troll, walter mitty, make your mind up. Be burned to many times by cr€tins on thsi site to get involved again. I don't, really, care what you think.

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Hairy troll, walter mitty, make your mind up. Be burned to many times by cr€tins on thsi site to get involved again. I don't, really, care what you think.

Oh i'm sorry to offend you.

why back down from showing a link to the application?

everyone can now see you as a bull sh1tting troll

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Oh i'm sorry to offend you.

why back down from showing a link to the application?

everyone can now see you as a bull sh1tting troll

Sorry mate, been a long day dealing with cr€tins, not getting involved with another one; I have a strict fair abuse limit and my quota has been breached over November. Come back next tuesday and I'll cut you a Cr€tin's loyailty card discount

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Sorry mate, been a long day dealing with cr€tins, not getting involved with another one; I have a strict fair abuse limit and my quota has been breached over November. Come back next tuesday and I'll cut you a Cr€tin's loyailty card discount

HA HA HA HA HA HA

EXCUSES

YOU CAN'T SHOW A LINK TO THE APPLICATION BECAUSE YOU ARE A BULLSH1TTER

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WOW!

Have you discovered 'tardis' technology?

Got any plans?

5 x £500K+ houses on a plot 40m x 50m

That is pretty impressive.

[/

Surprisingly i did the very same thing myself a few years ago, but only one on site. Almost same size too. Got 2 5 beds, 2 3 beds, and 2 3 bed semis on front. And gardens are reasonable for this age. But the valuations seem ridiculous and if you can seel the site for 3800 plus i should do it. Theres a lot of hassle in doing the development yourself. also you may have to consider CGT if its not your own houses garden.

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you may wish to go a draw it on a pice of paper and then re-look at your comment.

Ford Mondeo is 4.73 metres long. Two Ford Mondeos = 9.46 metres, which is between the 8 and 10 metres quoted.

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WOW!

Have you discovered 'tardis' technology?

Got any plans?

5 x £500K+ houses on a plot 40m x 50m

That is pretty impressive.

[/

Surprisingly i did the very same thing myself a few years ago, but only one on site. Almost same size too. Got 2 5 beds, 2 3 beds, and 2 3 bed semis on front. And gardens are reasonable for this age. But the valuations seem ridiculous and if you can seel the site for 3800 plus i should do it. Theres a lot of hassle in doing the development yourself. also you may have to consider CGT if its not your own houses garden.

Assuming 1m gap between the 'detached houses', 1m from boundaries, the footprint of the houses would be 8.8m x 20m, giving a 10m long drive and 10m long garden. However, this is all hypothetical because it is bullsh1t, as proven by the lack of link to the bullsh1tting planning application.

Edited by spectre

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I have built 2 x 4 bed detached and 1 x 3 bed detached, separate 3 garage block, plot size 26m x 38m.

If the plot width for this was 50m, allowing 1m either side, set houses back 10m to allow for parking.

Each house 8m x 10m external - 7.4 x 9.4 internal - 2.5 floors = 174m GIA. Easy 5 bed. Back garden 10m x 20m - not big but OK.

I don't like Hairy's abusive posting style and he seems rather obsessed with erectile dysfunction (he does mention that he is aged 45), but I don't disbelieve him.

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Ford Mondeo is 4.73 metres long. Two Ford Mondeos = 9.46 metres, which is between the 8 and 10 metres quoted.

another maths expert. And where does the 8-10 metres come from?

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