Gerway Lane, Ottery St. Mary

SOLD BY STAGS ONLINE AUCTION 3.25 acres (1.32 ha) of south facing pasture with timber barn just outside the town.

Method Of Sale - The land will be offered for sale by Online Traditional Auction (unless sold prior.) The auction end date will be Wednesday 26th March 2025 at 4pm. The vendor reserves the right to withdraw or alter the property for sale prior to the auction end date. The property can be accessed via our website - stags.co.uk on the Auctions tab.

Situation - Set just outside the town of Ottery St. Mary in the Otter Valley, this south facing parcel of land is gently sloping with lovely views down the valley.

Access is via a right of way up a private track from Sidmouth Road (the main road from Ottery. St Mary to Sidmouth).

Description - Extending in all to about 3.25 acres (1.32 ha) of south facing pasture the land is split into 3 small parcels surrounded by a mature hedge bank. To the northern edge is a timber barn/stable.

Services - There is a water tap near the entrance to the land but the connection in the road was disconnected several years ago. Purchasers to speak to South West Water. There are no services connected.

Overage/Development Clause - Due to the location of the field just south of the town of Ottery St. Mary, the land is to be sold subject to a development clause (not to include agricultural or equestrian use) over the next 25 years, whereby a 25 % uplift in value would become payable to the previous owner. Further details within the legal pack.

What3words Location - ///pacemaker.calculating.mutual

Viewings - Viewings during daylight hours with details in hand after calling Stags to inform of date of time.

Proof Of Idenity - Under the 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 Fees - The successful purchaser(s) will be liable to pay the sum of £5,000. From this a buyer's fee of £2,400 (inc. VAT) is retained by Stags/Bamboo Auctions as a contribution towards the online platform costs, and £2,600 is payable towards the purchase price.

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 winning Bidder 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 handled by the buyer’s solicitors and must be in their client account no later than 48 hours post exchange. It is essential that you instruct your 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, this will/may contain material information regarding the property, and to consult legal advice prior to bidding.

Solicitor Acting - Emma Webb - Gilbert Stephens LLP -
East Devon Hub
Finnimore Industrial Estate
Ottery St. Mary, EX11 1NR


Completion Date - Twenty business days after the auction.

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.