Land (commercial) for sale

£195,000 Guide Price

Situated to the south of Lot 1 this comprises two enclosures of level pasture which is accessed directly off Bellmore Lane. Lot 4 extends in total to approximately 17.68 acres (7.16 Ha) and is shown shaded green on the accompanying plan.

Please note that Lots 2, 3 & 4 will not be sold in isolation until a sale of Lot 1 is agreed.

Bellmoor Farm extends in total to approximately 72.54 acres and is offered for sale as a whole or in up to 4 lots:

Lot 1: House, Building, Pasture Land - in all 14.27 acres

Lot 2: 19.23 acres of Pasture, Arable, Woodland

Lot 3: 21.36 acres of Pasture & Woodland

Lot 4: 17.68 acres of Pasture




Lot 4 Pasture. In all about 17.68 acres. Guide Price 195,000

Situated to the south of Lot 1 this comprises two enclosures of level pasture which is accessed directly off Bellmore Lane. Lot 4 extends in total to approximately 17.68 acres (7.16 Ha) and is shown shaded green on the accompanying plan.

Please note that Lots 2, 3 & 4 will not be sold in isolation until a sale of Lot 1 is agreed.

TENURE
The property is of freehold tenure with the pasture land being subject to a grazing license to 31 October 2024 which can be terminated subject to written notice, if appropriate.

SERVICES
Understood to be oil fired central heating, mains electricity, mains water, LPG Gas for the cooker in the kitchen and private drainage to a septic tank. The drainage system, which has not been inspected, may require attention and prospective purchasers should carry out their own investigations.

OUTGOINGS
These are believed to comprise local Council Tax on the farmhouse (Band E) together with the usual service and environmental charges.

FIXTURES & FITTINGS
All fixtures and fittings, unless specifically referred to within these sale particulars are otherwise expressly excluded from the sale of the freehold and will be removed by the vendors or their agents prior to completion.

TOWN & COUNTRY PLANNING DESIGNATIONS
There may be scope for prospective purchasers to consider alternative uses within the buildings, subject to obtaining the necessary planning consent from South Somerset District Council.

RIGHTS OF WAY, EASEMENTS, ETC
We understand that the track leading to Bellmoor Farm is owned by Somerset County Council and the property benefits from a right of access. The property is offered for sale subject to and with the benefit of all matter contained in or referred in the property charges register of the registered title together with all public and private rights of way, wayleaves, easements, and other rights of way whether specifically referred to or not.

LOCAL AUTHORITY
South Somerset District Council, The Council Offices, Brympton Way, Yeovil, Somerset, BA20 2HT. Tel:

Bellmoor Farm occupies a delightful rural position to the west of the small hamlet of Peasmarsh and approximately 4 miles to the west of the centre of the Ilminster. The town affords an extensive range of everyday banking, shopping and schooling facilities whilst the larger center of Taunton lies 13.6 miles to the north west and provides a more extensive range of recreational and commercial services together with three noted public schools.

Despite its rural position the property enjoys easy access to the surrounding districts and further afield with access to the A358 within 0.30 miles and the A303 at Ilminster. Access to the M5 motorway is available at Taunton (J25) whilst the town also provides main line rail services (Paddington). International airports are also readily accessible at Bristol and Exeter.

Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )

Return on Investment

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£
£
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Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 153825

Mortgage Loan to Value

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Gross Yield

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Annual ROI

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Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 4875
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

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The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.

£

This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.

£

Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.

£

This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.

Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.

Annual Costs

£ 7575
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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This is the percentage of the rent that you will spend maintaining the property.

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Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

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Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

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This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.

Total Profit

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  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

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This is the assumed rate of house price inflation.

Final Property Value

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This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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