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Land for sale
Land South of Mattocks Lane, Hedon
£1
Land South of Mattocks Lane, Hedon
£1
Our Summary
- OVERAGE CLAUSE The land is offered for sale subject to an overage/development uplift clause
- If the use of the land is changed from agricultural or equestrian use, 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 6-acre site located on the south side of Mattocks Lane, off Preston Road, to the north of Hedon town centre. The site is a rectangular shape and comprises vacant pasture/agricultural land. There are no services connected to the site, and prospective purchasers are advised to make their own enquiries about statutory service providers. The property is being sold with vacant possession and is offered subject to an overage/development uplift clause, which would require a 30% payment of the increase in market value if the land is changed from agricultural or equestrian use. The overage/development uplift would run for 30 years from the date of completion. Interested parties should contact Tim Powell for further information and to arrange a viewing.