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1. Yes, you can buy the share of the alleyway between you and your neighbour if you want and add it to your Folio in the Land Registry. What you pay for it will depend upon what price your neighbour wants for this piece of land. So, you need to negotiate with him for the half of the alleyway that you don't own. It can be added to your property once you buy it. I would advise you to get a solicitor to help you with the conveyancing once you have agreed a price with your neighbour and to register the land as yours in the Land Registry.
2. You can speak to a local auctioneer and valuer who operates in your locality about the value they would place upon the strip of land over which the alleyway runs. However, because the land would only be of interest to very few people, it might be difficult to put a value on it. So, the value will probably have to be worked out between you and your neighbour.
3. Best of luck with it!