Are you an Estate Agent? Register here
Are you an Estate Agent? Register here
£375,000 Guide Price
A block of arable and pasture land with good road frontage in all about 41.61 acres.
41.61 acres of arable and pasture land as shown shaded green on the attached ID plan Guide Price 375,000.
SPORTING RIGHTS
We understand are in hand and with the freehold.
RIGHTS OF WAY, EASEMENTS, WAYLEAVES, ETC.
A footpath traverses Lot 2.
TENURE AND TENANCIES
The property is offered with freehold tenure with vacant possession available on completion.
TOWN AND COUNTRY PLANNING
The farm is subject to an Agricultural Occupancy Condition. For the exact details please contact the selling agents.
The wording of the tie is as follows:-
The occupation of the dwelling shall be limited to a person solely or mainly employed or who being no longer employed, was last employed in the locality in agriculture as defied in Section 336(1) of the Town and Country Planning Act 1990 or in forestry (including any resident dependants or a widow or a widower of such a person).
OVERAGE CLAUSE
Lot 2 is subject to a 30 year overage clause which started in 2012 whereby if planning consent is granted, 30% of the increase in value is payable to the original owner. Agricultural, horticultural and equestrian uses are exempt.
It is the Vendors intension to impose an overage clause on Lot 1 and field 3238 whereby if within the next 30 years change of planning consent is granted for commercial or residential use then the Vendors would be entitled to 30% of any resulting uplift in value.
ADDITIONAL INFORMATION
Broadband: ADSLStanard broadband is availablehighest available download speed 15 Mbps, highest available upload speed 1 Mbps. (Openreach).
Mobile Coverage: Available via EE, O2, THREE and VODAFONE. For an indication of specific speeds and supply or coverage in the area we recommend contacting your own provider.
Flooding: The property is in an area at a VERY LOW RISK from River/Sea and Surface Water flooding (defined as the chance of flooding each year as less than 0.1%).
AGENTS NOTES
Some of the photos were taken in 2021.
The property is set within its own land, down a long private driveway within rural surroundings, some two miles from the market town of Bridgwater. An adjacent lane sets the property back from the Minehead Road which gives quick and easy access to the surrounding district. Local facilities and schooling are available in the town of Bridgwater and Cannington College and Brymore Agricultural School are within two miles. The M5 motorway Junctions 23 and 24 are approximately three miles away, facilitating communications north to Bristol and south to the County Town of Taunton and the remainder of the West Country. At Junction 24 there is also Sedgemoor Auction Centre being the largest one day livestock market in Europe.
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.
The Property has been saved to your favorites
/ 5
It's quick and easy
