Poughill, Bude, Cornwall, EX23

THE PROPERTY – 2.4 ha / 5.93 acres of Amenity Land / Strategic Development Land on the leading edge of the popular Cornish town of Bude

FOR SALE BY INFORMAL TENDER WEDNESDAY 5TH NOVEMBER 12PM

LOCATION & PROPERTY
The Property is on the eastern edge of Bude, with a current agricultural access onto the main road, as well as a Public Right of Way on the western boundary running through it.
There is significant road frontage and adjoins the built up form of Bude on the western boundary as the Plan indicates.
It is located within the popular coastal town of Bude, which has an extensive range of shopping, schooling and recreational facilities

The current population of Bude is 10,600 (2021 census).

The Land slopes to the south, with a mature tree lined hedge bisecting the 2 fields, and has most recently been used for grazing.

Lot 2 (and part of Lot 1 – Paize House) is subject to an existing Farm Business Tenancy, which expires 27th January 2034, at an annual rent of £1,000 pa.

PLANNING & DEVELOPMENT
The Land is not allocated currently for development in the Cornwall Council Local Plan, and is adjacent to the current Settlement Boundary, but not currently within it. It therefore has potential for promotion for potential strategic development in the future, either through the Cornwall Council Interim Policy Position Statement April 2025 via rounding off, infill, or exception sites; or the Local Plan Review. Note, the Property has not previously been put forward in the Call For Sites. Cornwall Council within the new Standard Housing Methodology have to find c. 88,000 new homes over the next 20 years, and therefore are keen to discuss new land opportunities.

The current Bude-Stratton Neighbourhood Plan is dated February 2016 and only covers the period 2016-2030

Buyers should make their own investigations.

INFORMAL TENDER DETAILS
We are acting on behalf of the Freehold Owners in respect of the Sale of the above Property, jointly with BOP Property of Bude; and who are also marketing Lot 1, which is the adjoining Paize House itself and c 18.44 acres.

We are seeking an unconditional Sale, with Overage; and therefore any Offers should only be subject to Contract and legal due diligence.

We are therefore seeking Informal Tenders by 5 weeks from launch at 12 pm midday.

Offers for Lot 2 should be submitted to our Exeter Officer with the Reference: JMG. Please mark any envelopes “Offers for Lot 2 Paize.” Offers by email will also be acceptable, as long as all attachments are Pdf format and sent by email to our office – please find contact details on the sales details.

Can you please ensure your Offer includes all of the following information:-

1. Name, address and contact details of the person offering; together with confirmation of authority to offer and if buying on behalf of a Company any Board approvals required or obtained.
2. Your Solicitors name, address and contact information.
3. Level of Offer in £ sterling.
4. Confirmation of funding source, including written confirmation of such.
5. Confirmation your Offer is subject to Contract and legal due diligence only and if there are any other Conditions, please state them clearly.
6. Confirmation you are able to exchange Contracts within 28 days of receipt of Contract paperwork with a 10% deposit, with Completion 28 days after exchange or sooner.
7. Confirmation that your Offer is not related to any other Bid made.
8. Confirmation that you have seen all of the Information Pack and Sales Details and taken that into account of your Offer.
9. Overage – As the proceeds of sale will be used for charitable purposes, to protect our client’s interest, there will be an Overage imposed at the rate of 50% in uplift in value over sale price, for a period of 20 years, triggered by any Planning Consent for Change or Use or Development (exact wording to be agreed at point of agreeing sale)
10. No Build Zone – The Marketing Plan shows a ‘no build zone’ – There will be a Covenant entered into for the benefit of Lot 1 to ensure no Development takes place in this zone. Services, Open Space and will be permitted, but not the construction of Dwellings or other Buildings, in order to protect the view from Lot 1.
11. Easements – Lot 2 will benefit from Easements over Lot 1 for the purposes of services, including laying pipework and headwalls for surface water disposal into the watercourse located on Lot 1.
12. Boundary between Lots 1 and 2 – Please note it will not be possible to fence the dividing boundary between Lots 1 and 2 until the FBT has ceased.

Guide Price / Possession - - Offers are invited for the Freehold interest, subject to the existing Farm Business Tenancy, which runs until 27th January 2034 and covers Lot 2 and most of the land within Lot 1 as per the Marketing Plan. It does not contain a Break Clause. The current passing rent of £1,000 pa will be split pro rata between Lot 1 and Lot 2 based on acreage.

Please note our clients are not bound to take the highest or indeed any Offer.

Please contact us regarding access for viewings as there are currently stock in the field. However, as you will note, there is a Public Right of Way on the western boundary, which you can use to see Lot 2.

As part of the Anti-Money Laundering Regulations, it is a requirement that we will need from the successful Bidder further information in respect of their identity and address. It will be a pre-Condition of accepting an Offer that this is provided and is acceptable.