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£1,950,000 Guide Price
Combined Renewable Energy and Agricultural Investment Opportunity
Set just east of Bideford (approx. 3 miles), the land sits in accessible North Devon countryside with a good road network linking to the A39 (Atlantic Highway) at Bideford and the A388 at Landcross giving direct routes towards Holsworthy (c. 16 miles) and Launceston /A30 dual carriageway (c. 27 miles).
Extending in all to approximately 110 acres, the land at Gammaton offers a diverse and income-generating rural investment comprising two established solar energy schemes alongside 21.55 acres of productive pastureland.
The property includes two separate solar developments, each held on long-term, index-linked leases that provide secure and growing rental income from renewable energy generation.
The first scheme, occupying around 24.24 acres, was developed by a well-established operator and commissioned in 2013. It has an installed capacity of 4.6 MW and produces a stable, RPI-linked rental income, originally set at 29,088 per annum and now indexed to circa 46,376 for 2025. The lease runs for 25.5 years from 2013 and the current land owners have exercised their option of an additional 5 years, resulting in approximately 18 years remaining.
The second solar park, covering approximately 53 acres, is a newly established 9.85 MW. The lease, executed in March 2024, provides a base rent equating to 60,321.60, subject to annual upwards-only RPI indexation. The term extends for 30.5 years from commencement, with an option for the tenant to renew for an additional 10 years. Grid connection is scheduled for completion in late 2025. There is a further c. 7 acres of pasture land within the lease.
In addition to the solar leases, the holding includes approximately 21.55 acres of well-managed, good quality agricultural land, currently down to pasture however has in the past grown a variety of cereal and fodder crops.
Access to the site is excellent, with two direct road access points from the western boundary. The site is very well serviced with a suitable track network.
This represents a rare opportunity to acquire a substantial freehold investment combining secure, RPI linked renewable energy income with good quality agricultural land, underpinned by long lease terms - an attractive balance of sustainable energy generation and rural capital value.
Tenure: The land is freehold subject to the two existing leases. The pasture land (field parcel 3268 as per the attached plan) is sold with vacant possession upon completion.
Boundaries: Any purchaser shall be deemed to have full knowledge of all boundaries and neither vendor nor the vendors agents will be responsible for defining the boundaries or the ownership thereof. Should any dispute arise as 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 experts shall be final.
Services: There is a mains water supply to the pasture field.
Health & Safety: Potential purchasers should be vigilant and take particular care when inspecting the property.
Viewings: Strictly by appointment with the selling agent, Kivells.
Map location is not available for this property.
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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