>
Land for sale
Lot 7: Land To The North Of Lower Kingdon, Bideford, Devon, EX39
£1,250,000
Lot 7: Land To The North Of Lower Kingdon, Bideford, Devon, EX39
£1,250,000
Our Summary
- The lease was executed in March 2024 and provides an investment opportunity providing a lengthy income stream comprising a base rent of £1,000/acre that is subject to upwards only annual RPI indexation (indexed linked from 2022 to £60,321
- The overage to be triggered on the granting of planning permission
- PlanningPlanning permission has been granted for both solar parks, the wind turbine and numerous farm buildings
Description
The property is a 52.58-acre plot of land in Lower Kingdon, with a 9.85MW solar development lease covering 51.72 acres. The lease provides a lengthy income stream with a base rent of £1,000 per acre, indexed to RPI, and has 30.5 years remaining with an option to extend for a further 10 years. The site is connected to the grid and is expected to generate 8,865 MWh per annum. The property is being sold by private treaty as a whole or in up to 8 lots, with vacant possession on completion subject to the lease agreement. The sale is subject to various rights, including rights of way, easements, and restrictive covenants, and includes sporting, timber, and mineral rights. The property is located in a rural area and potential purchasers should exercise caution when inspecting the property due to uneven and slippery ground surfaces.