Land for sale
Key information
Property description & features
- Tenure: Freehold
- Planning overage rights
- 25% for 77 years on a sizeable parcel of approx. 0.6 freehold land
PLANNING OVERAGE FOR SALE of 25% for 77 years on a sizeable parcel of approx. 0.6 freehold land in an idyllic setting with gated road access off Mill Lane, Sindlesham. A full legal pack is available for review showing full details.
An overage is a term often used in land sales to describe a sum of money in addition to the original sale price which a seller of land may be entitled to claim from the buyer once the land has been granted planning or development permission.
With an overage of 25%, if the land was valued at £50,000 without permission and is then valued at £250,000 once permission has been granted, there has been an increase in value of £200,000. The new owner of the land would then owe the overage holder 25% of this increase in value (in this case 25% of £200,000 being an overage payment of £50,000).
Purchasing an overage would entitle you to the same terms as the original seller and has the potential to provide a significant return on investment should planning be granted.
Call Barney Estates to obtain the full legal pack
Places of interest
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Mobile phone signal availability and predicted strength
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Energy Performance data and Internal floor area
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