Bare land has big strategic value
Bare land has big strategic value
UNUSUALLY the value of the whole of an area of bare land could exceed that of the six lots due to the development potential inherent on the land.
The land four miles from Colchester, Essex, at Ardleigh includes about 95 acres adjoining the village with 54% of the land abutting the defined settlement boundary.
Three of the lots already have access via adopted estate roadways despite all the land currently being in arable production.
Also much of the land lies between the existing settlement boundary and the main line railway. "Rail links will be increasingly important as road transport comes under further environmental pressures. In future greater weight may be given to such issues in identifying land suitable for residential development," says Philip Summers, Fenn Wright.
In lots the acreages range from 3.64 to 42.66 and for sale by informal tender – closing date July 14 – the guide price for the whole is £600,000.
As a whole, the sale value of 95 acres of bare arable land adjoining Ardleigh, Essex could well exceed the aggregate offers for the land in six lots.