Land (commercial) for sale

£500,000

An accessible and versatile parcel of Grade 1 & 2 arable land. In all about 40.33 acres (16.32 hectares) available as a whole.




The sale of this land affords prospective purchasers a rare opportunity to acquire an accessible and attractive parcel of arable land in Somerset, close to the A303. The land is classified predominately as Grade 1 with a small section of Grade 2 along the eastern periphery and is situated in a renowned agricultural area and enjoys an attractive rural position, enclosed within natural hedgerow boundaries.

In total the land extends to about 40.33 acres (16.32 Ha) and is offered for sale as a whole as shown on the accompanying plan.

DESIGNATIONS
The land is understood to be situated within a Nitrate Vulnerable Zone

SERVICES
The land is being sold with no mains or any services. Prospective purchasers should make their own enquiries with regards to the availability of services in the locality.

BASIC PAYMENT SCHEME
The land is being sold without any de-linked payments.

RIGHTS OF WAY, EASEMENTS, ETC
A public footpath crosses the holding. We understand that South Somerset District Council are in the process of extending the footpath along the southern boundary. Further details are available from the vendors agents. The property is sold, and as far as required by the vendor, will be conveyed, subject to all rights of way, easements, and wayleaves of telegraph and telephone poles, stays and wires, electric pylons, poles and cables, water and gas pipes at present erected on and passing over or under the property and subject to the agreements affecting the same (if any) and to the Town and Country Planning Scheme affecting the same.

TOWN & COUNTRY PLANNING
The property, notwithstanding any description contained in these particulars, is sold subject to any Development Plan, Tree Preservation Order, Town Planning Scheme, Resolution Notice, which may be or may come to be in force and also subject to any statutory provision or by-laws without any obligation on the part of the vendor to specify them.

DEVELOPMENT COVENANT / OVERAGE
The land is understood to be subject to an uplift / overage clause for 25% for a period of 20 years commencing in 2013.

TENURE
The property is of freehold tenure with the benefit of vacant possession of all parts, subject to any rights of holdover, which may be required, depending upon the date of completion for any unharvested crops.

LOTTING
It is intended that the property will be offered as a whole as described within these particulars. The right is reserved however to alter or amend the prospective lotting and prospective purchasers shall not raise any requisition or objection whatsoever to any such change. Offers may be made for the property as a whole or with less land. If you are making a tender for the property with less land please attach a plan clearly marking the area to which the offer applies.

OUTGOINGS
The property is sold subject to any further outgoings as assessed whether stated in these sale particulars or not.

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

The land occupies a delightful rural position approx. 0.4 miles to the north of the Lopen Head Roundabout and 1.3 miles to the north east of Seavington St Michael. The land is situated within a predominantly agricultural area primarily comprising arable land. The popular village of Lopen offers a thriving local community with its parish church, and village hall, whilst the larger centre of South Petherton lies approximately 1.6 miles to the north and affords a good range of everyday shopping, banking and educational services, including primary and secondary schooling.

There are good road and rail communications, being found just off the main A303 trunk road, West of Yeovil between South Petherton to the north and Crewkerne to the south. Main line rail links to London are available at Crewkerne (Waterloo) and Yeovil (Paddington) with international airports at Exeter and Bristol.

The approximate position of the land is shown on the location plan on the back cover of these particulars.

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

£
£
£
£

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

Mortgage Required

£ 415200

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 12500
  • 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

£

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

£ 40200
  • 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

Adjust these figures

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  %
£
  %

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

£

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

£

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

£

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

£
  • 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

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

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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