Valuation Negotiation

Overview

As experienced RICS Registered Valuers, with an in-depth knowledge of statutory valuation principles and industry practice, we are well placed to provide valuation advice for negotiations or litigation. We undertake valuation exercises for ransom strips, providing access, removing restrictive covenants and garden extensions, as well as conducting negotiations on our clients behalves.

Ransom Strips

A ransom strip is a strip of land between a point of access and land needing to be accessed, that has been retained by a third party. Typically, access over a ransom strip is the key to unlocking significant value in the land that doesn’t currently benefit from the necessary access rights.

As a result of this, negotiating the consideration which should be paid for the access rights over a ransom strip can be fraught with difficulty. We have significant experience advising on the ways of assessing the amount which should be paid and in negotiating the relevant settlement.

It is a common misconception that one-third of the uplift in value unlocked by a right of access should be paid in all circumstances. Another mistake is the wrong assumptions being applied about what the land can be used for with and without the access, leading to vastly inflated or underestimated valuations.

Landowners would be well placed to seek advice from a Chartered Surveyor who specialises in these types of negotiations. It may be that other valuers also need to be appointed once the assumptions to be made have been identified. Please don’t hesitate to get in touch for an initial consultation.

Access Easements

Distinct from ransom strips, access easements are situations where access is simply required over third party land for a given purpose, where it is not the key to unlocking significant value, or where it only provides limited benefit. They are usually very long term or permanent agreements.

One example could be where there are other means of gaining access, but the access easement requested may be the preferred route. This could be owing to cost, complexity or a whole host of other factors. These can all influence the amount, or reciprocal rights, which can be requested in return.

We are experts at negotiating fair and reasonable settlements in respect of any such access rights and can tailor our advice to your objectives. For example, you may be complying with fiduciary duties to secure best value, or you may want reasonable terms for an agreement with your neighbour.

If you have been asked to grant an access easement, or need an access easement from another party and would like us to negotiate on your behalf, or to advise you of the range in which you should be negotiating, please feel free to contact us and we would be pleased to provide a fee quote.

Restrictive Covenants

Restrictive covenants are legal restrictions registered against the title to a property, preventing the use of the property for a given purpose, or preventing something from being carried out on the property. For example, there may be a restrictive covenant preventing you from building something.

There are several options available to landowners who want to remove such restrictions, or to be able to use their property in contravention with a restriction. One option is negotiating a financial consideration with the beneficiary of the covenant, to have it removed by agreement.

We can advise on all of the options available and, where necessary, assess or negotiate the amount which should be paid for the removal or modification of a covenant. Alternatively, we may be able to advise whether a covenant looks unenforceable and get you the appropriate legal advice.

Restrictive covenants are ultimately legal matters but it may be that there is a simple solution we can advise on, that does not require significant cost or risk. We are a great first port of call, so if you have any queries in relation to a restrictive covenant, please do not hesitate to get in contact.

Garden Extensions

There are many situations where garden land abuts land that is seemingly not being used for any particular purpose, or is agricultural land, and which is desired for the purpose of extending a residential garden. This could simply be to extend the garden, or to allow room to extend a dwelling.

Requests from residents to the owners of such land are often met with resistance, commonly due to a misunderstanding over the value of the land. In considering the amount to offer, regard must be had to the value which the land would add to the property that the garden belongs to.

Enlarging a garden can, on its own, add substantial value, but also because it may provide scope for the residential property to then be extended, in circumstances where the existing garden would otherwise not have been able to accommodate an extension (or even an entirely new dwelling).

If you have been approached by a residential property owner seeking to purchase some land, or would like to buy some land to extend your own garden, please feel free to contact us and, following an initial free consultation, we would be happy to provide a fee quotation for advising or negotiating.