Land for sale

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Land for sale

Fitling Lane, Fitling, Hull
£100,000

Our Summary

  • Overage - The land is offered for sale subject to an overage, development uplift clause
  • If the use of the land is changed from agricultural, either through planning consent or permitted development rights (under the General Development Consent Order) then an 'uplift' (overage) would be payable to the vendors or their successors in title
  • This will be based upon 25% of the increase in Market Value of the property immediately before planning consent was granted (excluding hope value) and the Market Value of the property immediately after planning consent is granted but taking into account the terms of any such consent granted
  • The overage/ development uplift will run for 10 years from the date of completion

Description

The property is a block of agricultural land in two separate parcels, totaling approximately 13.46 acres, located in the small hamlet of Fitling in Holderness, approximately 8 miles east of Hull and 7 miles northwest of Withernsea. The land has been used for grass production in the past but is now available for redevelopment. The property is situated on the eastern side of Fitling Lane and is registered with the Rural Payments Agency for the Basic Payment Scheme. The sporting rights are included in the sale, along with the mineral rights, and the land is subject to all existing and proposed wayleaves and other matters registered by any competent authority. There are no known services connected to the property, but mains water is available in Fitling Lane. The property is offered for sale by private treaty with an asking price of over £100,000, and the freehold interest is conveyed with vacant possession upon completion. An overage clause is included in the sale, which will apply if the use of the land is changed from agricultural, with an uplift based on 25% of the increase in market value immediately before and after planning consent is granted.
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