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£160,000 Guide Price
An attractive block of productive agricultural land enjoying a readily accessible rural position close to the A361 North Devon link road. Level and gently sloping pasture extending to about 23.54 Acres.
This sale represents an excellent opportunity to acquire a most attractive parcel of productive agricultural land occupying an outstanding rural position lying between South Molton and Tiverton, close to the A361 North Devon link road. Enjoying a readily access location, the land is contained within one large block and divided into a number of convenient and manageable fields. Access to the land is gained from the no-through road known as Harpson Lane. The land is primarily level and gently sloping with more moderately sloping areas along part of the northern periphery.
Well suited to livestock grazing and fodder production, the lands convenient location, superb views and aesthetic appeal may also make it suitable for a variety of conservation, equestrian or other amenity uses.
Extending in total to about 23.54 Acres (9.52 Ha) the land is offered for sale as a whole as shown on the attached identification plan and described within these sale particulars.
Tenure
The land is of freehold tenure with vacant possession available upon completion of the purchase. Please note:- The land is currently subject to a Land Registry first registration application.
Services & Outgoings
The lands benefits from mains trough watering. The land will be sold without any other mains services of any kind and prospective purchasers should make their own enquiries as to the availability of any other services.
Right of way, Easements, Wayleaves, Etc.
The right of way access which currently exists over Kidland Lane will be extinguished and the land will be accessed only over Harpson Lane.
We are not aware of any public or private rights of way across the land. The property, as far as required by the Vendors, 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, drains, 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).
Agri-Environment Schemes & Designations
The land is currently entered into a Mid-Tier Stewardship Agreement which commenced on the 1st January 2024 (Agreement No. 1643312). The agreement relates to revenue payments and capital works and the land will be sold subject to the terms of this agreement. Prospective purchasers should satisfy themselves as to the contents and obligations of this agreement and will covenant to farm in accordance with the management prescriptions. Further details are available from the Agents.
The land lies within a Nitrate Vulnerable Zone.
Basic Payment Scheme
The Basic Payment Scheme has now ended and the land will be sold without any entitlements or de-linked payments.
The land occupies an elevated and readily accessible rural position lying to the south of the Exmoor National Park between South Molton and Tiverton, enjoying superb countryside views. The nearby pretty and historic village of Knowstone provides a thriving local community and boasts the renowned Masons Arms, a Michelin star rated Inn and Restaurant.
The land benefits from convenient access over Harpson Lane, which links direct to the nearby A361 North Devon Link Road. The bustling market town of South Molton to the north west and Tiverton to the south east, are both easily accessible and provide a good range of everyday shops, schools, restaurants, public houses, health centres and sporting facilities. The A361 also provides quick access to the M5 motorway (Junction 27), with mainline Intercity rail links available at Tiverton Parkway (London, Paddington approx. 2 hours) and international airports at Exeter and Bristol.
The nearby Exmoor National Park offers beautiful moorland scenery with many foot and bridle paths and the stunning North Devon coastline, whilst to the west are the popular sandy beaches of Instow, Saunton Sands, Croyde Bay, Putsborough and Woolacombe.
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 )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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