Should I buy adjacent property too?

[hoofy]

I bought a property on a busy main road 20 years ago and since then I have lived at the property and run a small retail business from the land at the back. There is another commercial property next door to me, about the same size plot as my own, and in the next few weeks I am told the property is going to be put up for sale.

Is it usually the case that the two properties together would be worth more than the value of the properties if both were sold individualy??

[jeffrey]

Is there potential for redeveloping the combined site? Would p/permission be likely?

[hoofy]

I think there would be plenty of potential for redevelopment of the two sites.

Both my property and the one next door I am thinking of buying are about 100x50 feet so I would have a nice 100x100 plot.

The property next door does have residential neighbours which could be a problem but they bought their property knowing full well they were going to be living next door to a commercial property.

[Steve Sims]

When you join two adjacent properties the price of the new property is affected by the 'marriage value' and generally decreases rather than increases, although who knows in the current market?

[hoofy]

I'm not really thinking of joining the two properties together at this point. My thoughts are to hopefully buy the property next door to where I live and work and rent it out.

Then at a later date I would be in a position to either sell the properties individually or as a pair.

There is a lot of development going on in the area and over the years I have been approached by 3 or 4 parties who have asked me if I wanted to sell my property. So have the people who own the property next door.