Land for sale

Agricultural investment opportunity in the South Hams

Method Of Sale - The land is offered for sale by online Traditional auction (unless sold prior.) The auction end date is Wednesday 9th October 2024 at 4.30 pm. The Vendor reserves the right to withdraw or alter the land for sale prior to the auction end date. The land can be accessed via our website – one-line property and land auctions.

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)

Tenancy - 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 Etc - 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.

Completion Date - The completion date will be 25th October 2024 or as dictated by the solicitor and included in the legal pack.

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 Fees - 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.

Depsosit 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
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Viewing - Strictly by appointment - Please contact Stags Farm Agency on[use Contact Agent Button]. 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 - What.three.words ///encodes.sharpen.mimics

Definition Of Auction 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. Guide prices may change at any time prior to the auction.

Disclaimer - These particulars are a guide only and are not to be relied upon for any purpose.