Land to the East of Modbury
Land to the East of Modbury, Devon , PL21 0SJ
- 5
Key features
Guide Price: *
£525,000
Fees apply
Buyer's fee:£2,400
Admin fee:£1,200
All fees include VAT at 20%
Holding Deposit: *£2,600
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Sold for:
£525,000Bid history
1 bidG
15/10/2024 08:46:44 - £525,000
METHOD OF SALE
The land is offered for sale by online Traditional auction. This private auction link will expire at 3pm on Tuesday 15th October 2024.
The Vendor reserves the right to withdraw or alter the land for sale prior to the auction end date.
SITUATION
The land to the east of Modbury is situated about halfway between Modbury and California Cross. Both Modbury and Calforina Cross link to the A38 Devon Expressway. Modbury is a picturesque town in the heart of an Area of Outstanding Beauty. It has a highly-rated primary school and caters well for most everyday requirements, with a great range of independent shops, cafes, galleries along with two pubs, a Church and a gym.
INTRODUCTION
The land is let under Farm Business Tenancy agreement and provides a secure annual income.
The land in all totals 132.67 acres (53.70 hectares)
TENENCY
The land is let under a Farm business Tenancy agreement.
The principal Tenancy terms are as follows:
The tenancy commenced on 14th December 2018 and ends on the 25th December 2048.
Break Clause tenant only on every 5th anniversary
Current rent £11,00 per annum
Rent review – In accordance with section 12 & schedule 2 of the agricultural holdings act 1986.
Term 14/12/2018 for the period until 25/12/2048.
A copy of the Tenancy Agreement is available to genuine prospective purchasers on signing a ‘Confidentiality Agreement’.
THE LAND
The land in all extends to about 132.67 acres of productive free draining loamy soils. The land is a mixture of level and sloping land, used for the grazing of livestock and growing arable and forage crops. There are three pockets of woodland.
ACCESS
Direct access onto the public highway.
The buyer has a right of way along farm drive shown in brown for all purposes, this right exists for the duration of the FBT but shall determine at the end of the FBT upon provision of an alternative gate access at the approximate point B. The cost including any planning requirements are the responsibility of the current tenant of the FBT and this right over along the accessway coloured brown will subsist and only fall away when the alternative access "B" is deemed satisfactory by the owner of the Retained Land. Further details available in the legal pack.
TENURE AND POSSESSION
The land is for sale freehold, subject to the existing tenancy with a term from the 14/12/2018 until 25/12/2048. Please note field 1331 does form part of the tenancy agreement and is freehold with vacate possession.
LOCAL AUTHORITY
South Hams District Council, Follaton House, Plymouth Road, Totnes, Devon TQ9 5NE.
SERVICES
Natural water taken from the stream in field 8260 which is pumped up to a header tank in field 6714.
SPORTING AND MINERAL RIGHTS
The sporting and mineral rights insofar as they are owned are included with the freehold.
WAYLEAVES & RIGHTS OF WAY
The property is sold subject to and with the benefit of any wayleave agreement and any public or private rights of way that may affect it.
Rights will be reserved across field 8260 for forestry and sporting use associated with Yarnacombe Wood including access for maintenance, general use, felling, planting, the extract and stacking of timber in field 8260.
Yarnacombe Farm has rights to take natural water from the land in fields 5477 and 5195. Further details in the legal pack.
PLANS & BOUNDARY FENCES
A plan which is not to scale, is included with these sale particulars for identification purposes only. The vendor shall not be called upon to define the ownership of boundary fences.
PROOF OF IDENTITY
Under Money Laundering Regulations 2017 it is a requirement for all Estate Agents to perform due to due diligence checks on any person that intends to bid at auction. There will be a requirement for all bidders to register via the online sales site and complete the ID checks. There is no charge for registration.
BUYERS & ADMINSTRATION FEE
The successful purchaser(s) will be liable to pay the sum of £10,000. From this a buyer’s fee of £2,400 inc VAT is retained by Stags/Bamboo as a contribution towards the online platform costs, and £7,600 is payable towards the purchase price.
An additional administration fee of £1200 inc VAT will be payable by the successful purchaser immediately after the auction.
DEPOSIT PAYMENT
The Seller and Buyer agree that the winning Bidder may transfer the remainder of the 10% deposit (less the amounts paid online) within 48 hours of the end of this online auction. Clauses 6.1, 6.2 and 7.1 of the Holding Deposit Agreement shall be read as amended to reflect this accordingly.
The remainder of the 10% deposit payment is handled by the buyer’s solicitors and must be in their client account no later than 48 hours post exchange. It is essential that you instruct your solicitor in advance of the auction.
AUCTION LEGAL PACK
Copies of the legal pack and special conditions of sale are available online to be downloaded, via the tab on the online auction property listing page. Prospective purchasers will need to register with the Bamboo online platform in order to download the legal pack. It is the purchaser’s responsibility to make all necessary enquiries prior to the auction. Prospective purchasers are strongly advised to inspect the legal documentation, this will/may contain material information regarding the property, and to consult legal advice prior to bidding.
SOLICITOR ACTING
Qess Ali Associate Michelmores LLP
Woodwater House, Pynes Hill, Exeter. EX2 5WR
+44 (0) 1392 687496
+44 (0) 7817 682766
COMPLETION DATE
The completion date is Friday 25th October 2024 and included in the legal pack.
VIEWING
Strictly by appointment - Please contact Stags Farm Agency on 01392 680059. Please park at the access point shown on the sale pan.
WARNING
Farms and land can be dangerous places. Please take care when viewing this land , particularly in the vicinity livestock and electric fencing.
DIRECTIONS
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DEFINITION OF AUCTION GUIDE AND RESERVE
Guide price(s) are an indication of the seller’s expectation. Reserve price(s) are a figure below which the auctioneer cannot sell the lot at auction. We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Guide prices may change at any time prior to the auction.
SPECIAL CONDITIONS OF SALE
Particulars, remarks and stipulations contained herein shall be deemed to form part of the special conditions of sale/auction information pack and in case of any inconsistencies the provisions of the latter shall prevail. Special conditions of sale/auction information pack is available online. It is assumed that the Purchaser will have made all necessary enquiries prior to the auction.
IMPORTANT
Stags gives notice that: 1. These particulars are a general guide to the description of the property and are not to be relied upon for any purpose. 2. These particulars do not constitute part of an offer or contract. 3. We have not carried out a structural survey and the services, appliances and fittings have not been tested or assessed. Purchasers must satisfy themselves. 4. All photographs, measurements, floorplans and distances referred to are given as a guide only. 5. It should not be assumed that the property has all necessary planning, building regulation or other consents. 6. Whilst we have tried to describe the property as accurately as possible, if there is anything you have particular concerns over or sensitivities to, or would like further information about, please ask prior to arranging a viewing.
BUYERS & ADMINSTRATION FEE
The successful purchaser(s) will be liable to pay the sum of £10,000. From this a buyer’s fee of £2,400 inc VAT is retained by Stags/Bamboo as a contribution towards the online platform costs, and £7,600 is payable towards the purchase price.
An additional administration fee of £1200 inc VAT will be payable by the successful purchaser immediately after the auction.
DEPOSIT PAYMENT
The Seller and Buyer agree that the winning Bidder may transfer the remainder of the 10% deposit (less the amounts paid online) within 48 hours of the end of this online auction. Clauses 6.1, 6.2 and 7.1 of the Holding Deposit Agreement shall be read as amended to reflect this accordingly.
The remainder of the 10% deposit payment is handled by the buyer’s solicitors and must be in their client account no later than 48 hours post exchange. It is essential that you instruct your solicitor in advance of the auction.
Summary
- Auction end
- 15th Oct at 14:00
- Property type
- Land
- Tenure
- Freehold
- Council tax band
- N/A
Summary
- Auction end
- 15th Oct at 14:00
- Property type
- Land
- Tenure
- Freehold
- Council tax band
- N/A
This property is being sold by:
Stags - Farm Agency
01392 680059
21/22 Southernhay West Exeter Devon EX1 1PR
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and Stags Online Auction shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by Stags Online Auction. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
