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Land for sale
Long Lane, Newport
£350,000
Long Lane, Newport
£350,000
Our Summary
- An easily accessible block of agricultural land with considerable potential complimented by a substantial farm building and derelict Cold War nuclear bunker
- Lot 2 includes a currently inaccessible and derelict Cold War nuclear bunker, offering potential for repurposing (STPP)
- OVERAGE(i)An overage provision is to be applied by the current vendors at a rate of 35% of the uplift in value above purchase value over a 30-year term triggered by a change of use planning permission, full planning approval, or permitted development
- (ii)A Gravel Royalty Overage provision is to be applied by the current vendors at a rate of 50% over a 50-year term triggered by gravel/mineral extraction following full planning permission or permitted development
- Planning Potential (STPP)
Description
This 38.19-acre agricultural property, situated on the outskirts of Newport, Isle of Wight, offers considerable potential with a substantial farm building and a derelict Cold War nuclear bunker. The property can be sold as a whole or in two lots, with Lot 1 comprising 35.56 acres of arable land and a farm building, and Lot 2 featuring 2.63 acres of arable land, a right of access over the main farm track, and the derelict bunker. The property has direct vehicular access via Staplers Road and is approximately 2 miles from Newport town centre, which offers a range of shops, eateries, and local schools. The property also benefits from a lease agreement supporting a private telecom mast, providing a rental stream of £4,000 per annum. The sale is subject to certain conditions, including a holdover period for the barn and an overage provision for any development.