Land (commercial) for sale

£100,000 Guide Price

'' POSTPONED TO MAY AUCTION''
An excellent development opportunity in the centre of the popular village of Mudford. The site has outline planning consent for the erection of a four bedroom detached property and detached garage set within a large plot with great outlook onto surrounding farm land.


Situation
The site is situated within the desirable South Somerset village of Mudford. The village benefits a number of local amenities to include a church, public house, village hall and recreation ground all within walking distance from the property. The property is located just 3 miles from the town of Yeovil offering a wide range of shops, restaurants and leisure facilities. Other nearby towns include the town of Sherborne approximately 6 miles to the east and Ilchester some 6 miles to the north. The land has outstanding road and travel links:
Road - The A303 is conveniently located just 5 miles to the north giving an easy drive to/from London together with providing links to the M5 motorway.
Rail - Yeovil Pen Mill railway station is approximately 3 miles to the south and Castle Cary railway station is approximately 11 miles to the north. All stations provide mainline services to destinations such as Exeter St Davids, London Paddington and London Waterloo.
Air - Bristol Airport is approximately 40 miles to the north. It has scheduled and chartered flights to a range of national and international destinations.

Tenure
The land is of freehold tenure with full vacant possession available upon completion of the purchase.

Local Authority
The property is situated within the administrative authority of Somerset Council.

Description
The property comprises an area of garden land bounded by a mixture of hedgerows and fencing in part,. The site backs onto open agricultural land and enjoys views over the surrounding countryside. In total, the site extends to approximately 0.35 acres (0.14 Ha) as hatched red on the attached plan. The property will benefit from the right to use the Driveway (as shown hatched blue on the attached plan) on foot or with vehicles at all times and for all purposes associated with the use of the Property as a residential dwelling.

Town and Country Planning
The property obtained planning consent on 16th July 2024 for the erection of a four bedroom detached dwelling with detached garaging, further described as follows: 23/02119/OUTOutline Application with all matters reserved for the Erection of a 4 bedroom detached dwelling to rear of existing dwelling and erection of 2No. detached garages to serve the existing and proposed new dwelling. Further details in relation to
the planning consent is available from the selling agents. The land, notwithstanding any description contained in these particulars is sold subject to any Development Plan, Tree Preservation Order, Town Planning Schedule, Resolution or Notice which may be or which may come to be in force, and also subject to any statutory provision of byelaws without any obligation on the part of the Vendors to specify them and the Purchaser shall be deemed to have full knowledge of and to satisfy themselves about the provisions of any such matter affecting the property.

Method of Sale
The property will be offered for sale by Public Auction and online livestream auction on Thursday 24th April 2025 at the Shrubbery Hotel, Ilminster, Somerset, TA19 9AR. It is possible the property may be sold prior to the action date therefore it is advisable for interested parties to register their interest with the Agents and it is their responsibility to check with the Agents whether the property will still be offered on the auction date.

Access
The property will benefit from the right to use the Driveway (as shown hatched blue on the attached plan) on foot or with vehicles at all times and for all purposes associated with the use of the Property as a residential dwelling.

Viewing
The site can be viewed on foot at any reasonable time with a copy of these particulars in hand.

Services
The property benefits from a mains water supply.

Rights of Way, Easements
The property is sold as far as required by the vendor and will be conveyed subject to all rights of way, easements and way leaves of telegraphs poles, drains and wires, electric pylons 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).

Directions
From Yeovil head north east on the A359 towards Sparkford. Continue on this road for approximately 2 miles until you reach the village of Mudford. The site is located approximately halfway through the village and adjoins the village hairdressers on the left hand side. The property will also be indicated by the agents for sale board.

Auction Pack
The Auction Pack, containing the contract and special conditions of sale, should be obtained online at Future auctions held by Greenslade Taylor Hunt Online (eigroup.co.uk). These documents will not be read at the time of sale and all prospective purchasers will be deemed to have bid for the property in full knowledge of their contents and shall not raise any requisition or objection whatsoever thereafter. These documents will not be read at the time of sale and all prospective purchasers will be deemed to have bid for the property in full knowledge of their contents and shall not raise any requisition or objection whatsoever thereafter.

Bidder Registration
All potential online, telephone & proxy bidders are required to register their details with Greenslade Taylor Hunt prior to the commencement of the auction by completing the Online Bidder Registration. PropertyAuctionsGTH. Those attending the auction room to bid in person will complete bidder registration on arrival to the auction room. All in room bidders must provide 2 forms of Identification in order to register. Further details are available from the Agents upon request.

Buyers Administration Fee
The successful purchaser(s) of each lot will be liable to pay a Buyers Administration Fee based upon the eventual sale price to the selling Agents. Further details are available from the selling agents.

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

£ 80200

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
    £ 2500
  • 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

£ 5200
  • 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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