METHOD OF SALE The property will be offered for sale by Traditional Auction (unless sold prior.) The auction ends at 5:00pm on Tuesday 6th February 2024. The vendor reserves the right to withdraw or alter the property for sale prior to the auction end date. SITUATION The land is situated off Water Lane, on the edge of the village of Combe Martin which is on the North Devon coast and near to the Exmoor National Park. The coastal town of Ilfracombe lies 5.5 miles to the west and the regional centre of Barnstaple lies 11 miles to the south. DESCRIPTION - AUCTION GUIDE £65,000 to £75,000 The land comprises a pasture paddock with a small plantation of trees which adjoins the River Umber on the edge of Combe Martin. In total the land extends to 2.70 acres (1.09 hectares.) The pasture land is sloping but levels out towards the river and the small tree plantation lies in the north-west corner. There is an open yard and a single garage between the paddock and Water Lane. ACCESS There is access to the land from Water Lane and Park Lane. SERVICES There are no mains services connected. TENURE The land is owned freehold and is registered on the Land Registry (Title number: DN579059.) DEVELOPMENT UPLIFT (OVERAGE) The land will be sold subject to a development uplift (overage) provision on the following terms: In the event of planning consent being approved for any residential or commercial use within a 30 year period from the completion date, the sellers will receive 30% of the increase in value of the land. The detailed overage condition is outlined within the legal pack. JAPANESE KNOTWEED Japanese Knotweed has been found to be present on the land. There is an ongoing treatment programme in place. LOCAL AUTHORITY North Devon District Council. Tel: 01271 327711 - www.northdevon.gov.uk WAYLEAVES & RIGHTS OF WAY The property is sold subject to and with the benefit of any wayleave agreement and any public or private rights of way that may affect it. There is a public footpath which runs along the northern boundary of the land, adjacent to the River Umber. The neighbours have access to their properties over the yard area and over the pathway known as Water Terrace. SPORTING & MINERAL RIGHTS The sporting and mineral rights insofar as they are owned are included with the freehold. LAND PLAN A plan which is not to scale, is included with these sale particulars for identification purposes only. PROOF OF IDENITY Under Money Laundering Regulations 2017 it is a requirement for Estate Agents to perform due diligence checks on any person that intends to bid at auction. There will be a requirement for all bidders to register via the online sales site and complete the ID checks. There is no charge for registration. BUYERS & ADMINISTRATION FEE The successful purchaser(s) will pay the sum of £5,000 at the end of the auction. From this a buyer’s fee of £2,400 inc VAT is retained by Stags/Bamboo as a contribution towards the online platform costs, and £2,600 is payable towards the deposit. An additional administration fee of £600 inc VAT will be payable by the successful purchaser immediately after the auction. DEPOSIT PAYMENT The Seller and Buyer agree that the Buyer may transfer the remainder of the 10% deposit (less the amounts paid online) within 48 hours of the end of this online auction. Clauses 6.1, 6.2 and 7.1 of the Holding Deposit Agreement shall be read as amended to reflect this accordingly. The remainder of the 10% deposit payment is to be transferred to the buyer’s solicitors and must be in their client account with 48 hours of the auction ending. It is essential that buyers instruct their solicitor in advance of the auction. LEGAL PACK Copies of the legal pack and special conditions of sale are available online to be downloaded, via the tab on the online auction property listing page. Prospective purchasers will need to register with the Bamboo online platform in order to download the legal pack. It is the purchaser’s responsibility to make all necessary enquiries prior to the auction. Prospective purchasers are strongly advised to inspect the legal documentation and to consult legal advice prior to bidding. SOLICITOR ACTING Kate Bolt - Tozers Solicitors Broadwalk House, Southernhay West, Exeter, EX1 1UA 01392 207020 [email protected] COMPLETION DATE The completion date will be 28 days after the auction or as outlined within the legal pack. VIEWING Please contact Stags to arrange a viewing appointment. Tel: 01271 322833. Email: [email protected] DIRECTIONS From the beachfront at Combe Martin, proceed east on the A399 (King Street) for approximately 0.6 miles. Shortly after passing the Pack O' Cards pub, turn right into Water Lane. Continue for 80 yards, cross over the River Umber and the land will be found on the left. These particulars are a guide only and are not to be relied upon for any purpose. DEFINITION OF AUCTION GUIDE AND RESERVE Guide price(s) are an indication of the seller’s expectation. Reserve price(s) are a figure below which the auctioneer cannot sell the lot at auction. We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Guide prices may change at any time prior to the auction. SPECIAL CONDITIONS OF SALE Particulars, remarks and stipulations contained herein shall be deemed to form part of the special conditions of sale/auction information pack and in case of any inconsistencies the provisions of the latter shall prevail. Special conditions of sale/auction information pack is available online. It is assumed that the Purchaser will have made all necessary enquiries prior to the auction
Stags - Farm Agency
