How to value sheds?

[Kidds]

Trying to put a value on a farm. I can value the land, there’s houses involved which I can value but there are also sheds that I don’t know how to value.
There’s an ex cubicle shed, single span concrete floor, block wall to 5-6ft, wooden slats above that. The shed is square and is 450m2.
Another shed is barn and lean to of similar footprint. Sleeper walled ex silage shed with straw shed lean to. Only the silage shed is concreted.
There are a couple of open sided brick hay barns. Fibre cement/asbestos roof. Haven’t measured them but 8x8m each best guess
Plus one more wooden stable block, 20 x 5m, wooden sheds with block outer wall. Not brilliant but watertight and not about to fall down.

The place is being sold as a whole, what would be a sensible figure on the above that would suit both buyer and seller?

 

[kill]

Probably the sheds would only have an added value with planning permission to convert as otherwise they are just a part of the whole job as can not be priced otherwise.
Probably best asking several estate agents to value

 

[Agrivator]

Try to find out if the sheds are insured for the full-replacement cost. Look at the replacement cost/sq m that the insurance company has placed on each shed. That will be the absolute maximum rebuild-cost for each shed. Discount each figure by, say, 2% for each year of age and add or deduct a balancing figure for the state of each individual shed to arrive at a fair valuation.

The only unknown is whether or not my 2% figure is sensible. But I reckon any shed reasonably well built should last for at least 50 years.

 

[Kidds]

Brilliant way to figure it out.
What do you think the “balancing figure “ should be?
The sheds are about 50 years old so that would answer my question.

 

[Ukjay]

Brilliant way to figure it out.
What do you think the “balancing figure “ should be?
The sheds are about 50 years old so that would answer my question.

Do they have asbestos roofs, as removal of damaged ones or repairs will probably impact cost in today’s world.

 

[Werzle]

Trying to put a value on a farm. I can value the land, there’s houses involved which I can value but there are also sheds that I don’t know how to value.
There’s an ex cubicle shed, single span concrete floor, block wall to 5-6ft, wooden slats above that. The shed is square and is 450m2.
Another shed is barn and lean to of similar footprint. Sleeper walled ex silage shed with straw shed lean to. Only the silage shed is concreted.
There are a couple of open sided brick hay barns. Fibre cement/asbestos roof. Haven’t measured them but 8x8m each best guess
Plus one more wooden stable block, 20 x 5m, wooden sheds with block outer wall. Not brilliant but watertight and not about to fall down.

The place is being sold as a whole, what would be a sensible figure on the above that would suit both buyer and seller?

Cant see they would be valued for anymore than the acrerage they take up by the sounds of them.

 

[Goweresque]

Cant see they would be valued for anymore than the acrerage they take up by the sounds of them.

True, the physical buildings don't sound like they are worth much.

However the million dollar question then is - what value per acre/square foot do you put on the land they stand on? Is it just ag value, or some more commercial development value? One would have to say that a yard with sheds, regardless of the state of those sheds is a sought after asset in todays world. Many people would buy them and try to use them for non ag purposes without planning permission - tree surgeons, small builders etc, while other might seek to get change of planning from ag to non ag (which if they are redundant for ag purposes shouldn't be too hard) and then the number of potential buyers/tenants skyrockets.

Maybe the best valuation would be to look locally to see what small commercial storage premises are for sale and at what prices. Then subtract the cost of planning permission, and maybe a risk element from that.

 

[Kidds]

The sheds are in good order even if they are of an age. Very useable spaces too both for ag and non ag so must be worth more than pure ag land value. All within a good clean yard either tarmac or concrete.
Anyway, seems the value is £85k, I was just wondering if that was realistic.

Thank you for your replies.

 

[Farmer_Joe]

before i start i have no idea, however i would work on something like above where you cost how much to build now then work back discounting for age,

out of interest how much is the land element been valued per acre? what grade is it?

there is a block of 160 acres near me grade 4 i think grazing with some just agricultural buildings off grid and the value per acre must be 10k seemed rich but was under offer?

 

[Kidds]

out of interest how much is the land element been valued per acre? what grade is it?

Grazing land and I value it at £9-10k. It’s a bit more complicated than that, as always. This won’t be a farm, it’s a few houses with a massive lawn and some very big garages.

 

[Werzle]

The sheds are in good order even if they are of an age. Very useable spaces too both for ag and non ag so must be worth more than pure ag land value. All within a good clean yard either tarmac or concrete.
Anyway, seems the value is £85k, I was just wondering if that was realistic.

Thank you for your replies.

I valued them in my head at 20k