MapGuide price
£1,250,000Land for sale
Lot 7: Land To The North Of Lower Kingdon, Bideford, Devon, EX39
Featured
Land
52.58 acre(s)
Key information
Tenure: Freehold
Council tax: Ask agent
Features and description
- Tenure: Freehold
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
Viewings
By prior appointment with the Vendors’ agents, Carter Jonas[use Contact Agent Button].
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
Viewings
By prior appointment with the Vendors’ agents, Carter Jonas[use Contact Agent Button].
Property information from this agent
About this agent
People and property are what matter to us, right across the country and across the property world. Whatever your circumstances we offer the services you need and the dedicated teams you want, acting for individuals, companies and major institutions. We are not newcomers; our heritage means a great deal to us but it’s the future that counts. That’s why we are one of the strongest names in the property business, doing what is best for our clients and making sure the vast range of advice we offer enhances their future prosperity.
