Land for sale in Bideford, Lot 7: Land To The North Of Lower Kingdon, EX39 : Taunton : TAU240141

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52.6 acres Land, Lot 7: Land To The North Of Lower Kingdon, Bideford EX39 - Available

Lot 7: Land To The North Of Lower Kingdon, Bideford EX39

Freehold | 52.6 acres (21.3 hectares)

Guide price £1,250,000

Bideford Quay (Stop D) 2.8 miles

Old Railway Station 3.3 miles

Church (Stop A) 3.4 miles

Comprising some 52.58 acres, within which there is a lease for a 9.85MW solar development covering some 51.72 acres and estimated to generate 8,865 MWh per annum.

Lot 7
Land to the north of Lower Kingdon comprising some 52.58 acres, within which there is a lease for a 9.85MW solar development covering some 51.72 acres and estimated to generate 8,865 MWh per annum.

The lease was executed in March 2024 and provides an investment opportunity providing a lengthy income stream comprising a base rent of £1,000/acre that is subject to upwards only annual RPI indexation (indexed linked from 2022 to £60,321.60 for the 2024 period) or 5% of gross revenue. The lease has 30.5 years remaining, with the lessee having the right to extend for a further 10 years subject to a renewal payment of £64,000 RPI index linked from 2022. The connection of the site to the grid will be commissioned in the new year.

Method of Sale
The farm is offered for sale by private treaty as a whole or in up to 8 lots.

Tenure & Possession
The lot is sold with vacant possession on completion, subject to the lease agreement applying to the solar farm.

Health & Safety
Potential purchasers should take particular care when inspecting the property being mindful of uneven and slippery ground surfaces.

VAT
Value Added Tax is not applicable.

Overage
In the case of lots 6, 7 and 8, the land will be sold subject to an overage clause whereby should further development take place within a period of 25-years, the Vendor’s would be entitled to a further payment of 50% of any enhanced value attributed to that development. The overage to be triggered on the granting of planning permission.

Planning
Planning permission has been granted for both solar parks, the wind turbine and numerous farm buildings.

Wayleaves, Easements, & Rights of Way
The property is being sold subject to and with the benefit of all rights including: rights of way, whether public or private, light, sport, drainage, water and electricity supplies and other rights and obligations, easements and Quasi-easements and restrictive covenants and all existing proposed wayleaves for masts, pylons, stays, cables, drains, water and gas and other pipes whether referred to in these particulars or not.
There is a right of way over the track NG4883 at Lower Kingdon to the solar farm.

Sporting, Timber & Mineral Rights
Included within the sale in so far as they are available.

Local Authority
Torridge District Council
www.torridge.gov.uk

Viewings
By prior appointment with the Vendors’ agents, Carter Jonas 01823 428 590.

The next steps...

Establish funds

How will you fund the purchase?

Before making an offer on a property you will want to consider your financial situation, your income and outgoings.

Will you finance the purchase of your next property from the sale of an existing property which can put you in a chain, arrange a mortgage through your bank or buy the property outright.

To help you finance your next property purchase, we have a long established relationship with an independent mortgage broker who can discuss your situation with you.

Remember that having a 'mortgage decision in principle' can make you a more attractive buyer when you make an offer on a property. Contact our mortgage advisers for free, no obligation and impartial advice.

Some advantages of a broker are:

They do all the legwork for you, working on your behalf with the lender
They compare wholesale mortgage rates from a large number of banks and lenders all at once
Their wholesale interest rates can be lower than retail (bank branch) interest rates
They offer more loan options because they work with numerous banks and lenders
They can finance tricky deals because of their knowledge and various lending partners
They are typically easier to get in contact with, and are less bureaucratic.

However advantages of working with your bank are:

You may be able to build off an existing relationship (and gain discounts if you have a checking or savings account)
You may already know the banker who will handle your mortgage
Banks may be more accountable than a smaller shop
They may offer lower interest rates in some cases
Their ability to add mortgage to existing banking profile and make automatic payments from linked account.

Making an offer

with Carter Jonas.

When you see a property you are interested in on our website, call us 24/7 to arrange a viewing. Or if you prefer, get in touch via our website and we will call you back to find a time to view the property that suits you.

Once you’ve found a property you want to buy, it’s time to make an offer. A bit of negotiation is to be expected, however don't offer so little that you end up in a lengthy negotiation process, as you might lose the property altogether if someone else makes a higher bid.

If other offers have been made on a property we aren't legally able to tell you what they are, but we may indicate if they were close to the asking price.

Need to sell a property

or thinking of letting?

If you have a property to sell, why not see how we can help you.

Or if you’re considering letting your property, we can take the stress out of managing your rental, and our award winning lettings team offer a service that can be tailored to your needs.

Combined with nearly 170 years of experience and one of the highest customer satisfaction scores in the industry, Carter Jonas is the perfect property partner.

Why not book a free, no obligation valuation of your property and find out how Carter Jonas can help you make your next move.