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Land for sale
Launceston
£150,000
Launceston
£150,000
Our Summary
- For Auction 04th June 2024
- 50 ac with more imminent development potential (STP) Guide: £150,000 - £175,000Method Of Sale - The property is to be offered for sale by Traditional Public & Online Auction at 6
- The vendor reserves the right to withdraw or alter the property for sale prior to the auction end date
- 57 acres of valuable grazing land with investment / development potential (STP), situated on the edge of Launceston, close to the town centre
- For auction in two lots:Lot 1 - 18
- 07 acres of undulating pasture with 3 accesses off A388 / Tavistock Road, comprised within 7 fields Auction Guide: £275,000 - £325,000
- 50 acres of pasture, with investment/development potential for 1/2 dwellings with houses on 3 sides and accessed from a private driveway off the Tavistock Rd, Auction Guide: £150,000 - £175,000
- T: , Overage Provision - An Overage provision will be included within the contract, requiring the Purchasers and their successors in title to pay the Vendor 30% of any uplift in value, triggered on the granting of planning permission (or equivalent) for any residential or commercial development within 30 years from completion
- For the avoidance of doubt, planning for agricultural or equestrian buildings/use will not trigger the overage
- Completion is due 6 weeks after the auction
Description
An 18.57-acre property with development/investment potential, located near Launceston town centre and surrounding housing areas. The land offers stunning views towards Dartmoor and has been identified as having potential for residential or commercial development in Cornwall Council's Strategic Housing Land Availability Assessment. The property is divided into two lots, with Lot 1 consisting of 18.07 acres of undulating pasture and Lot 2 consisting of 0.50 acres with more immediate development potential. The property has recently been put forward for connection to main water, gas, drainage, and electricity, but purchasers will need to satisfy themselves on this. The sale includes an overage provision requiring the purchasers to pay the vendor 30% of any uplift in value triggered by planning permission for residential or commercial development within 30 years of completion. The property is sold freehold, yet subject to a Farm Business Tenancy, and completion is due six weeks after the auction.