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Studio, in Rackenford, £540,000
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Land

Rackenford, Tiverton
Land Planning
£540,000

Our Summary

  • Overage / Development Uplift - The land will be sold subject to a development uplift (overage) deed on the following terms: Upon planning consent being granted for any residential or non-agricultural commercial or industrial use within a 30 year period from the completion date, the sellers will receive 25% of the increase in value (assessed by an independent valuer)

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Description

The property consists of 54.33 acres of land, situated near the Two Gates Cross junction on the A361 in North Devon. The land is classified as grade 3 and has slowly permeable, seasonally wet acid loamy and clayey soils. It is available for sale as a whole or in two lots: Lot 1, totaling 22.93 acres, and Lot 2, totaling 31.40 acres.

Both lots have direct access to the public highway and are located in a nitrate vulnerable zone. Lot 1 has mains water connected, while Lot 2 has a natural watercourse. The land is suitable for mowing, grazing, and growing cereal crops, and has fine views of the south.