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£150,000
Two gently undulating enclosures of productive pastureland with good road frontage and access on the edge of Milverton. For sale by informal tender as a whole or in two lots. Tenders close at 12 noon on Thursday 26th June 2025.
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The sale of this land offers prospective purchasers the rare opportunity to acquire one or two parcels of highly productive pastureland within walking distance of the village centre. The land is ideally suited to those with agricultural or equestrian, horticultural or other amenity uses at heart.
The land is being offered for sale as a whole or in two lots as follows:-
LOT 1 - 6.68 Acres, Guide Price 75,000
(edged blue on the attached plan)
This parcel comprises a single enclosure of gently sloping pastureland with road frontage to the north and enclosed within natural hedgerow boundaries.
LOT 2 - 6.27 Acres. Guide Price 75,000
(edged red on the attached plan)
A single enclosure on the edge of Milverton with far reaching views, enclosed within natural hedgerow boundaries with road frontage and access.
SERVICES
Lots 1 & 2 have a shared private water supply.
RIGHTS OF WAY
A public footpath traverses Lot 1. The property is sold and as far is required by the vendors and will be conveyed subject to all rights of way, easements and wayleaves of telegraph and telephone poles, stays and wires, electricity pylons, poles and cables, water and gas pipes at present erected on the passing over or under the property and subject to the agreement effecting the same (if any).
ACCESS
Both lots have direct road access from Butts Way to the north.
SPORTING RIGHTS AND EASEMENTS
Sporting rights are in hand and run with the freehold.
TOWN AND 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 Bye-law without any obligation on the part of the vendor to specify them.
OVERAGE CLAUSE
It is the vendors intention to impose an overage clause on both lots whereby should residential planning consent be granted within 21 years of completion the vendors or their successors in title will be entitled to 25% of any resulting uplift in value. This clause will allow agricultural and equestrian development.
RESTRICTIVE COVENANTS
Lot 2- The purchaser is not permitted to erect any building on the land being transferred which shall be visible from any window in the dwelling house known as Auton Farm.
METHOD OF SALE
The land is being offered for sale by informal tender. Tenders to be received in writing on the attached form of tender at the agents Greenslade Taylor Hunt, 13 Hammet Street, Taunton, Somerset, TA1 1RN by 12:00 noon on Thursday 26th June 2025, marked offers for Land at Butts Way. Offers should be made for the property as a whole or in two lots as per the lotting within these sale particulars. Any tenders will be subject to contract and the vendors are not obliged to accept the highest nor any other tender. Tenders may also be submitted by e-mail using the address martyn. .
TENURE
Freehold with vacant possession upon completion.
DIRECTIONS
Lot 1 What3words:///assemble.curious.estuaries
Lot 2 What3words:///slanting.terrible.presses
ADDITIONAL INFORMATION
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%).
VIEWING
Viewing can be at any reasonable time whilst in possession of the sale particulars at the prospective purchasers own risk. All applicants are asked to respect the countryside code and close all gates behind them.
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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