Land (commercial) for sale

£25,000 Guide Price

A small grassland area extending to approximately 0.14 acres

SITUATION
Keymelford Farm lies in the heart of the Mid Devon countryside, in an idyllic location between the villages of Colebrooke and Yeoford. These tranquil villages benefit from a primary school, churches, a recreation ground, village hall and excellent local pubs. Yeoford Station on the Tarka Line is within walking distance and provides regular services to Crediton, Barnstaple and Exeter.

The larger town of Crediton, just three miles away, provides a comprehensive range of everyday facilities, including schools, banks, shops, supermarkets, health centre and leisure complex. There is a farmers market held in the square on the first and the third Saturday of each month.

GENERAL DESCRIPTION & LOTTING:
Lot 1 - Agricultural building with concrete pad and land surrounding extending to 0.41 acres.
Accessed via the shared track connecting to the public highway. Shared access over shown by hatched shading. Lot 1 comprises of a split level steel framed agricultural building with a large lean-to on the southern elevation. There is a concrete pad to the north and an area of land to the east. This lot is considered suitable for a variety of alternative uses including residential, commercial, industrial, etc, subject to the usual consents.

Lot 2 - A small grassland area extending to approximately 0.14 acres.
Accessed via the shared track connecting to the public highway. Lot 1 is crossed in order to obtain access to Lot 2. The land is a simple oval shape with tracks surrounding. This lot is suitable for a variety of alternative uses including development, storage, amenity use, etc, subject to the usual consents.

TENURE AND POSSESSION
Vacant possession will be given upon completion.

SERVICES
It is believed mains water and electricity are connected to the farm, but this cannot be guaranteed. Prospective purchasers must reply upon their own investigation.

DIRECTIONS
From Exeter, take the A30 dual carriageway westbound and after approximately 10 miles take the exit signposted Cheriton Bishop / Crockernwell / Drewsteignton. At the top of the slip road, bear right and follow the bridge over the A30. At the roundabout on the other side of the bridge take the first exit and then take the first left, after approximately 0.1 miles onto Crediton Lane. Follow Crediton Lane for approximately 4 miles, and at the end of the road turn left. Follow the road for approximately 2 miles whereby the turning for Keymelford Farm will be on the right, marked by the Kivells For Sale sign.

METHOD OF SALE
For sale by Private Treaty.

BOUNDARIES
Any purchaser shall be deemed to have full knowledge of all boundaries and neither the vendor nor the vendors agent will be responsible for defining the boundaries or the ownership thereof. Should any dispute arise as to the boundaries or any points on the particulars or plans or the interpretation of them, the question shall be referred to the vendors agent whose decision acting as expert shall be final.

WAYLEAVES, EASEMENTS & TENURE
The land 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 rights of way, wayleaves, easements and other rights of way, which cross the property.

LOCAL AUTHORITY
Mid Devon District Council, Phoenix House, Phoenix Lane, Tiverton, Devon EX16 6PP

PLANNING
The land and buildings are considered to be mostly or entirely in agricultural use. Prospective purchasers must rely upon their own investigation.

VIEWINGS & ENQUIRIES
Strictly by confirmed appointment with the vendors agents Kivells, Exeter

Nearest Stations:

0.7 miles
Polsloe Bridge
1.03 miles
St.James' Park
1.32 miles
Exeter Central
1.44 miles
Digby and Sowton
1.54 miles
Exeter St. Thomas

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

£ 22075

Mortgage Loan to Value

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Gross Yield

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Annual ROI

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Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 625
  • 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

£ 3325
  • 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

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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.

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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

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This is the assumed rate of house price inflation.

Final Property Value

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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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