>
Land for sale
Southfield Lane & Withernsea Road, Tunstall, Hull
£400,000
Southfield Lane & Withernsea Road, Tunstall, Hull
£400,000
Our Summary
- Overage - The land is offered for sale subject to an overage/development uplift clause but will only relate to the land parcel north of the B1242
- 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 30% 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 30 years from the date of completion
Description
The property is a 46.75-acre block of agricultural land in Tunstall, East Yorkshire, straddling the B1242 Withernsea Road. The main block lies north of the road and extends to 42.45 acres, while the smaller block south of the road covers 4.30 acres. The land has previously been used for temporary grass leys and arable cropping, and is classified as Grade III under the Agricultural Land Classification maps. The soil type is suitable for growing cereals and short-term grassland. The land is located within a Nitrate Vulnerable Zone and has been registered with the Rural Payments Agency for the Basic Payment Scheme. The property is being sold freehold with vacant possession, following the expiry of a one-year farm business tenancy. The asking price is £400,000, with an overage/development uplift clause applicable to the northern block of land if it is used for non-agricultural purposes.