VALUATION OF HILL TOP FARM

Valuation Of Hill Top Farm

Valuation Of Hill Top Farm

PART A

Valuation of Hill Top Farm

Introduction

Mrs Appleton runs a nursery on 25 acres of the farm which is adjacent to a busy main road. (This is in addition to the 370 acres of farmland outlined above). She concentrates on growing hardy plants and the business accounts have shown that her takings from sales on site and takings from shows and fairs that she attends give an overall annual turnover is somewhere in the region of £150,000. The accounts also show cost of sales at somewhere in the region of £55,000 and hired labour and other costs at £42,000. There is no formal lease agreement between the parties and no rent is paid by the nursery business to the farm.

The proposed plans have been photocopied and are therefore not possible to scale from accurately. However, taking the agents information and our own check measurements on site, we can confirm the proposed dwelling will be approximately 5400 sq ft in line with the agent's findings. The planning application has been submitted for a farm of some 760 sq metres, giving approximately 7000 sq ft gross internal area, although no plans or information has been provided in relation to this application. Taking into account the current plot and plans provided, the agent's assessment of 5400 sq ft is the more realistic and has therefore been used in preparing the valuation advice. It must however be appreciated that if, in the unlikely event, an additional application was submitted and approved with the additional floor space then it must be referred back as it will affect the valuation now reported.

The property is situated in a comparatively good area where high residential values are achieved. There are few single new build residences in the locality especially offering the specification and accommodation proposed with a lower ground swimming pool, gym and media room.

Instructions

In accordance with your instructions of the February 2009 to provide a valuation of the property, we can confirm that the property was inspected on the February 2009 by J Perris, BSc MRICS. The inspection and report is prepared in accordance with the attached Terms of Engagement. The basis of valuation are as defined by the 5th Edition of the RICS Appraisal and Valuation Standards.

Our valuation has been based on plans and information provided by the applicant and vendors agent. This information has been provided within the appendices. It must be appreciated that any variation in these details may affect the valuation reported and must be referred back for consideration.

Property Description

Hill Top Farm is situated in the village of Sambrook, south of Market Drayton and North of Telford in the heart of rural Shropshire.

The main farm buildings comprise the following:

Five Bay Steel Portal Framed Building with corrugated steel roof and corrugated metal sheeted walls. (25m x 8m). Approximately 15 years old. Currently storing straw and fertiliser. Building 1 on the attached ...