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Derby, Derbyshire Land for sale
Derby, Derbyshire
£3,400,000
Derby, Derbyshire
£3,400,000
Our Summary
- OverageThe property is subject (in part) to an existing overage in favour of a previous owner, reserving 30% of any uplift in value for a period of 50 years (excluding any agricultural and/or equestrian use of the property)
- The land will be sold subject to a new uplift provision which will specify that 20% 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 Vendors or their successors in title should such development occur within 20 years from the date of completion
- The uplift will be payable upon implementation or on a future sale with the benefit of a planning consent but shall not be triggered by any development for agricultural and/or equestrian purposes
- The Vendor is willing to consider offers based on varied overage terms to the above, including offers free of the new uplift provision
- Nitrate Vulnerable Zone (NVZ)The Property lies within an NVZ Area and is subject to the usual restrictions
- Please note the property is a working farm and viewers must take precautions with livestock and potential farm machinery on the property
Description
This is an opportunity to acquire a 284.62-acre block of productive grade 2 arable land in south Derbyshire. The land is situated near the village of Repton and has multiple access points along the western boundary. The property is a ring-fenced, undulating arable holding with permanent grassland along the western boundary used for livestock grazing. The land has previously been used for a small shoot and has woodland shelter belts providing game cover. The arable land is capable of supporting a range of cereal crops and is generally well-drained. The property is being sold freehold with vacant possession, subject to a grazing licence over the grassland. The land is subject to various rights of way, wayleaves, and easements, as well as an overage provision and restrictive covenants. The property is also within a Nitrate Vulnerable Zone and has been registered for payments under the Basic Payment Scheme and Sustainable Farming Incentive scheme.