BEST AND FINAL OFFERS SOUGHT BY 9TH OF DECEMBER 2021.
Approx. 1 acre grazing land with long term development potential.
A rare opportunity to purchase a parcel of grazing land extending to approximately 1 acre.
The land has a frontage to Balls Lane and lies to the East of an established, residential development known as Greenacres.
There is a right of way into the land over a strip of land having a frontage of 12ft. to Balls Lane as shown coloured blue on the attached plan.
The land will be of immediate interest to those wishing to graze animals as well as the speculator seeking an opportunity with possible long term development potential.
The land will be sold subject to an Overage Clause to the effect that if a Planning Consent is granted within 25 years from the date of sale, then the vendor will receive an Additional Payment to be calculated as follows:
Additional Payment (A - B) x 25% where A equals Enhanced Value and B equals Base Value. Base Value is defined as the Market Value of the land with no expectation of obtaining a Planning Consent. The Enhanced Value is defined as the Market Value of the land as at the date of and with the benefit of the relevant Planning Permission assuming that the development land has the benefit of any easements, wayleaves, site line covenants and other agreements necessary to provide access, visibility splays or services to or from the development land. The Overage Period shall be 25 years starting on the date of the Transfer. Planning Permission will be defined as an Outline Planning Permission for development. The Additional Payment is to be made on the earlier of
a) 20 days after the date of first implementation of the Planning Permission or
b) The date of disposal of the property with the benefit of the Planning Permission or
c) 10 working days after the amount of the Additional Payment is agreed or determined.
Best and Final Offers are sought in writing to be received no later than 12:00 noon on Thursday the 9th of December 2021. Full details concerning the information required to support the Best and Final Offer is available upon request from W. A. Barnes LLP.
Freehold with Vacant Possession upon completion.
Interested parties may view the land at their convenience respecting normal courtesy's.
Various angles taken from the land.
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