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£650,000 Guide Price
A unique development opportunity to acquire a range of agricultural buildings with Permitted Development for the conversion to no.5 residential dwellings.
The site at Rectory farm comprises a range of modern steel portal framed buildings with adjoining concrete yard, occupying a secluded rural location set back from West Camel Road. The farm buildings have Permitted Development (Class Q) for the conversion to no.5 dwellings, comprising four three bedrooms dwellings (100m2) and one five bedroom dwelling (338m2). The site enjoys glorious views of the surrounding South Somerset countryside.
Proposed Dwellings
Prior approval application no. 23/00257/PAMB was granted by Somerset Council on 1st February 2023 for the conversion of agricultural buildings into No.5 dwellings. Comprising 4no. 3 bedroom units (100m2) and 1no. 5 bedroom units (338m2).
Assetsphere Limited.
Access
The site is accessed from the public highway via a right of way shared with Rectory Farmhouse and adjoining land.
Services
It is understood that the site benefits from mains waters and mains electricity, if the purchaser wishes to re-locate the supply to the main road the vendor will grant an easement.
Further information is available from the selling agents.
Tenure
The property is of freehold tenure with full vacant possession available upon completion of the purchase.
Local Authority
Somerset Council, County Hall, Taunton, TA1 4DY
Telephone:
Rights of Way, Easements, Wayleaves, Etc.
The site is accessed via a right of way, other than this the property is offered for sale subject to and with the benefit of all matters contained in or referred to 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 these are specifically referred to or not.
Method of Sale
The property will be offered for sale by Private Treaty.
Viewing
Viewing is strictly by appointment with the selling agent, Greenslade Taylor Hunt.
Health & Safety Notice
All persons wishing to view the property do so entirely at their own risk. Neither the Vendors or their Agents will be held liable for any damage or injury that may occur when interested parties are visiting the property. A working farm is a potentially hazardous environment and for prospective purchasers own personal safety please be vigilant when viewing the farm, particularly around the farmyard and in fields containing stock.
The site is situated on the south western outskirts of the village of Queen Camel. The village itself is conveniently placed midway between the historic Abbey town of Sherborne (7 miles) and the local regional centre of Yeovil (7.2 miles) to the south and the Somerset town of Castle Cary (6.5 miles) to the north. Between them these towns offer a comprehensive range of cultural, recreational and shopping facilities. Sporting, walking and riding opportunities abound within the area with golf clubs at both Sherborne and Yeovil while the region is well known for both its public and privately funded schools.
Communication links are good with main line stations at Castle Cary and Sherborne linking with Paddington and Waterloo respectively while road links are along the A303 joined nearby at Sparkford giving swift access to London and the Home Counties along the M3, M25 route.
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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