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52.58 acres, Lot 7: Land To The North Of Lower Kingdon, Bideford, EX39, Devon
For Sale - Guide Price £1,250,000

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Lot 7
Land to the north of Lower Kingdon comprising some 52.58 acres, within which there is a lease for a 9.85MW solar development covering some 51.72 acres and estimated to generate 8,865 MWh per annum.

The lease was executed in March 2024 and provides an investment opportunity providing a lengthy income stream comprising a base rent of £1,000/acre that is subject to upwards only annual RPI indexation (indexed linked from 2022 to £60,321.60 for the 2024 period) or 5% of gross revenue. The lease has 30.5 years remaining, with the lessee having the right to extend for a further 10 years subject to a renewal payment of £64,000 RPI index linked from 2022. The connection of the site to the grid will be commissioned in the new year.


Method of Sale
The farm is offered for sale by private treaty as a whole or in up to 8 lots.

Tenure & Possession
The lot is sold with vacant possession on completion, subject to the lease agreement applying to the solar farm.

Health & Safety
Potential purchasers should take particular care when inspecting the property being mindful of uneven and slippery ground surfaces.

VAT
Value Added Tax is not applicable.

Overage
In the case of lots 6, 7 and 8, the land will be sold subject to an overage clause whereby should further development take place within a period of 25-years, the Vendor’s would be entitled to a further payment of 50% of any enhanced value attributed to that development. The overage to be triggered on the granting of planning permission.

Planning
Planning permission has been granted for both solar parks, the wind turbine and numerous farm buildings.

Wayleaves, Easements, & Rights of Way
The property is being sold subject to and with the benefit of all rights including: rights of way, whether public or private, light, sport, drainage, water and electricity supplies and other rights and obligations, easements and Quasi-easements and restrictive covenants and all existing proposed wayleaves for masts, pylons, stays, cables, drains, water and gas and other pipes whether referred to in these particulars or not.
There is a right of way over the track NG4883 at Lower Kingdon to the solar farm.

Sporting, Timber & Mineral Rights
Included within the sale in so far as they are available.

Local Authority
Torridge District Council
www.torridge.gov.uk

Viewings
By prior appointment with the Vendors’ agents, Carter Jonas 01823 428 590.