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£40,000
For Sale by Informal Tender (Tenders to be Received by 5pm on 22nd January 2025). The land extends in all to approximately 3.10 acres (1.25 hectares) comprising a single enclosure of level pasture land.
Situation
The land is situated in the village of Delabole, which provides a good range of amenities. Camelford is 5 minutes driving distance providing more town facilities and access onto the A39 Atlantic Highway. Of particular note is proximity of Delabole to the extremely sought-after North Cornish coastline, with its picturesque towns and villages, sandy beaches and coastal footpath.
Further afield is the town of Bodmin being approximately 30 minutes driving distance, which has a mainline railway station and links to the main arterial routes throughout Cornwall, the A30 and A38.
Description
The land extends in all to approximately 3.10 acres (1.25 hectares) comprising a single enclosure of level pasture land. The land is accessed from the public highway, along a short shared track and adjacent to the Higher Medrose cul-de-sac of residential development on the fringe of Delabole village.
Not far from the land is a network of quiet parish road, footpaths and bridleways, offering walking and outriding opportunities.
Services
It is assumed there is no mains water connected to the land, although it is understood this may be available close by. Prospective purchasers to make their own enquiries to satisfy themselves as to the availability of mains water.
Overage
The land will be subject to an Overage provision, whereby 50% of uplift in value triggered by the granting of planning permission for residential or change of use, over 80 years, is applicable. Full details available within the Tender Pack.
Method of Sale
The land is being offered for sale by Informal Tender, with all tenders to be submitted to the offices of Kivells, 7-8 Bay Tree Hill, Liskeard, Cornwall PL14 4BE (Ref: Formal TenderLand at Higher Medrose) by 5pm on 22nd January 2025. Neither the highest nor any particular tender will necessarily be accepted.
The Tender Pack is available, please contact the Liskeard office to obtain a copy.
Directions
Please refer to the Location Plan included within these particulars, with the land identified by a Kivells For Sale board.
Viewings
Strictly by prior appointment with the selling agent.
Contact Us
Kivells , 7-8 Bay Tree Hill, Liskeard, Cornwall PL14 4BE.
Other Information
Easements, Wayleaves, Rights of Way
The property is offered for sale, subject to and with the benefit of all matters contained in or referred to in the Property and Charges Register of the registered title together with all public or private rights of way, wayleaves, easements and other rights of way, which cross the property.
Boundaries
Any purchaser shall be deemed to have full knowledge of all boundaries and neither 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 experts shall be final.
Plan of the Land
The plan is based on ordnance survey extracts, and the areas are not guaranteed. Purchasers must satisfy themselves as to their accuracy.
Tenure
Freehold subject to a Grazing Licence which comes to an end on 25th March 2025. Further details available within the Tender Information Pack.
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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