METHOD OF SALE

The property is to be offered for sale by Traditional Online Auction (unless sold prior.) The auction end date is Tuesday 4th June 2024 at 5.30pm.

The vendor reserves the right to withdraw or alter the property for sale prior to the auction end date.

SITUATION

The land is situated right on the eastern edge of the popular former market town of Launceston, accessed by the A388 and the Tavistock Road, the town centre is 0.3 miles to the west and access onto the A30 is 1 mile to the south. The land sits in an elevated position with wonderful far reaching views towards Dartmoor. The A30 links Launceston with the cathedral cities of Exeter and Truro. Launceston’s good road links provide convenient access to both the north and south coasts, together with Dartmoor National Park and the many other attractions Cornwall has to offer. Launceston offers a wide range of shops, including supermarkets, M & S Food Hall, Doctors, Dentists, cafes, and schools, including the popular private school, St Josephs. There are also two 18-hole golf courses as well as sports and social clubs, not to mention the historic Launceston Castle.

DESCRIPTION

Approximately 18.57 acres of valuable grazing land with investment / development potential (STP,) situated on the edge of Launceston, close to the town centre. It has stunning far reaching rural views towards Dartmoor. The land has recently been put forward within Cornwall Council's Strategic Housing Land Availability Assessment.

For auction in two lots:

Lot 2 - Auction Guide: £150,000 - £175,000

0.50 acres of pasture, with investment/development potential for 1/2 dwellings with houses on 3 sides and accessed from a private driveway off the Tavistock Rd.

Lot 1 - Auction Guide: £275,000 - £325,000 (available by separate auction)

18.07 acres of undulating pasture with 3 accesses off A388 / Tavistock Road, comprised within 7 fields.

SERVICES

Main water, gas, drainage and electricity are not currently connected but all appear to be available close by for connection. Purchasers to satisfy themselves on this. Rights shall be reserved to bring in services over or under lot 1 for the benefit of lot 2. Mobile coverage Outdoors: "Likely for:" EE, Three, O2 and Vodafone (Ofcom - 09/04/2024)

LOCAL AUTHORITY

Cornwall Council, New County Hall, Treyew Road, Truro, Cornwall, TR1 3AY. T: 0300 1234100, www.cornwall.gov.uk.

OVERAGE PROVISION

An Overage provision will be included within the contract, requiring the Purchasers and their successors in title to pay the Vendor 30% of any uplift in value, triggered on the granting of planning permission (or equivalent) for any residential or commercial development within 30 years from completion. For the avoidance of doubt, planning for agricultural or equestrian buildings/use will not trigger the overage.

WAYLEAVES AND RIGHTS OF WAY

The land is sold subject to and with the benefit of any wayleave agreements in respect of electricity or telephone equipment and the property is sold subject to and with the benefit of any public or private rights of way. Lot 2 has access over a very small part of Lot 1 (hatched brown and outlined in red on the plan.) Both lots have access over the neighbour's hatched driveway off Tavistock Rd.

TENURE AND COMPLETION

The property is sold freehold, yet subject to a Farm Business Tenancy. A Notice to Quit has been served on the Tenant to terminate the tenancy on the 1st May 2025. Completion is due 6 weeks after the auction.

FENCING

Within 6 months of completion: The purchaser of lot 2 will be responsible for the erection and maintenance of a stock-proof dividing fence on its NE boundary, between lots 1 and 2. Lot 2 can also erect a fence along its SE boundary between lots 1 and 2. Further details can be found within the legal pack.

PROOF OF IDENTITY

Under Money Laundering Regulations 2017 it is a requirement for Estate Agents to perform due diligence checks on any person that intends to bid at auction. There will be a requirement for ALL bidders to register via Bamboo Fusion and complete the ID checks in advance of the auction date. There is no charge for registration.

BUYERS AND ADMINISTRATION FEES

The successful purchaser(s) of each lot will be liable to pay the sum of £5,000. From this a buyer's fee of £2,400 inc VAT is retained by Stags/Bamboo Auctions as a contribution towards the online platform costs, and £2,600 is payable towards the purchase price/deposit.

An additional administration fee of £1,200 inc VAT will be payable by the successful purchaser of each lot immediately after the auction.

The purchasers shall on Completion, also reimburse the vendor the cost of any searches carried out, (This would usually be paid by a buyer in a private treaty sale.)

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 48 hours post exchange. It is essential that you instruct your solicitor in advance of the 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

John Brentnall of Wards Solicitors LLP

1-3 Alexandra Rd, Clevedon, Bristol BS21 7QF. Telephone: 01934 643488 Email: John.Brentnall@wards.uk.com

DEFINITION OF 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 guide figure. Guide prices may change at any time prior to the auction.

VIEWING

Strictly by prior appointment with the vendor's appointed agents, Stags Launceston Office on 01566 774999.

DIRECTIONS

What3Words Lot 1: ///junior.untrained.chicken Lot 2: ///veal.wreck.award

From the A30 heading east, turn left at the end of the slip-road and follow the A388 into Launceston. Turn right at the Tesco double roundabout and continue on the A388 (Tavistock Rd.). For Lot 2, after a quarter mile, take the 4th driveway on the right which leads to Lot 2 via an overgrown gate, on the left, just before a corner. For lot 1, continue on the A388 and around the sharp right corner and down the hill until you come to a layby on the right. The gate at the end of the layby leads into Lot 1. For Sale boards have been erected near both these entrances.

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.

DISCLAIMER

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 AND ADMINISTRATION FEES

The successful purchaser(s) of each lot will be liable to pay the sum of £5,000. From this a buyer's fee of £2,400 inc VAT is retained by Stags/Bamboo Auctions as a contribution towards the online platform costs, and £2,600 is payable towards the purchase price/deposit.

An additional administration fee of £1,200 inc VAT will be payable by the successful purchaser of each lot immediately after the auction.

The purchasers shall on Completion, also reimburse the vendor the cost of any searches carried out, (This would usually be paid by a buyer in a private treaty sale.)

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 48 hours post exchange. It is essential that you instruct your solicitor in advance of the auction.'