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£60,000 Guide Price
An exciting opportunity to acquire land within the sought after village of West Harptree. The land comprises a single enclosure of permanent pasture land.
Situation
The land is situated within the sought after village of West Harptree within the Chew Valley within walking distance of the village amenities. Chew Valley Lake is located just 1 mile to the north of the land with nearby towns including Wells located approximately 9 miles mile to the South and Bristol approximately 11 miles to the north. The land benefits from excellent road links being located on the B3114 adjacent to the A368 providing links to Bath and Bristol.
Description
The property comprises two parcels of level permanent pasture land in total extending to 3.99 acres (1.61 ha) and is offered for sale in two lots as follows;
LOT 1 - 2.01 acres (0.81 ha) (shaded red) A single enclosure of level permanent pasture land bounded by mature hedgerows and stock proof fencing to include vegetable garden and shipping container. The extent of the land is as shown shaded red on the attached plan.
Access
We understand the land is accessed via an unrestricted right of way from the public highway over third party owned land followed by a gateway into the land.
Services
LOT 1 benefits from a mains water supply.
Access
The land is accessed via an access gateway directly from the public highway.
Services
LOT 2 benefits from a mains water supply. The supply originates from the supply for LOT 1 with an internal submeter fitted. We understand there is an easement in place between LOT 1 and 2 with the owner of LOT 2 liable to pay the owner of LOT 1 for the water consumed at the prevailing rate.
Tenure
The land is of freehold tenure with full vacant possession available upon completion of the purchase.
Agri Environment Schemes
We understand the land has not been entered into any countryside stewardship or agri environment schemes. As a result, prospective purchasers are free to enter the land into a scheme as and when they are available.
Method of Sale
The property is offered for sale by Private Treaty.
Overage Clause
LOT 1 will be sold subject to an overage provision of 30% covering residential development for a period of 20 years. Further details are available from the selling agent. There will be NO overage clause attached to the sale of LOT 2.
Rights of Way, Easements
There are no footpaths traversing the property. 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.
Designations
The land is located within the Mendip Hills National Landscape.
Flood Zone
The property is at very low risk of flooding, (defined as the chance of flooding each year as less than 0.1%).
Rural Payments Agency
We understand the property is not registered with the Rural Payments Agency and there will be no delinked payments transferred on completion.
Viewing
The land can be viewed on foot at any reasonable time with a copy of these particulars in hand.
Directions
From Wells head north on Bristol Road/A39 for approximately 5.5 miles. At Chewton Mendip take the left turn onto
Lower Street/B3114 for 3.5 miles where the land is located on your right. It will also be indicated by the agents for sale
boards.
What3Words
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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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