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Our Summary
- Overage The land will be sold subject to an uplift provision which will specify that 25% of any increase in value due to development (as defined in Section 55 of the Town and Country Planning Act 1990) will be payable to the Vendor should such development occur within 50 years from the date of completion
- The uplift will be payable upon the grant of planning consent
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Description
The property consists of a block of Grade 3 arable land extending to approximately 67.61 acres and a block of Grade 4 permanent pasture river meadow extending to about 17.02 acres, situated on the south side of Blythe Road (B4114) near Coleshill in North Warwickshire. The arable land has slightly acid loamy and clayey soils with impeded drainage, while the grassland has loamy and clayey floodplain soils with naturally high groundwater. The property has road frontage to the B4114 and is close to the city of Birmingham.