Lot 2 - Land At Costessey, Ringland Lane, Costessey, Norwich, Norfolk, NR8 5BG

Detailed Description

DESCRIPTION & LOCATION

The property provides prospective purchasers with the opportunity to acquire a parcel of productive arable land in Costessey, a substantial and well-established suburb of Norwich.

Located approximately 6 miles north west of the Norwich City centre, the land is made up of two enclosures, both of which have good road frontage to Ringland Lane. The postcode of the nearest residential property is NR8 5BG.

The grade 3 land has been farmed in hand using contractors, an arrangement that a buyer could continue for ease of management.

The location of the land could present opportunities for alternative uses or development (subject to the relevant planning permission) which may make it an attractive investment opportunity.

The land is one of two lots being offered to the market by the same owner. Lot two is a single enclosure of arable land with frontage to Ringland Lane. The field is bounded by a mature roadside hedge.

The What3words location is ///mystified.cobras.passports

The previous cropping is as follows:
2022 - Countryside Stewardship option (flower rich margins and plots)
2023 - Countryside Stewardship option (flower rich margins and plots)
2024 - Countryside Stewardship option (flower rich margins and plots)
2025 - Potatoes
2026 - Winter Barley

GENERAL REMARKS & STIPULATIONS
METHOD OF SALE, TENURE & POSSESSION
The property is offered for sale freehold with vacant possession by private treaty as a whole or in two lots (with a neraby parcel).

EXCHANGE OF CONTRACTS & COMPLETION
Exchange of contracts will take place within 21 days of receipt by the purchaser/s' solicitor of a draft contract with completion no later than 14 days thereafter. A deposit of 10% of the purchase price will be payable on exchange of contracts.

SERVICES
No services are connected to the land.

OUTGOINGS
Drainage rates are payable. Any outgoings will be apportioned on completion.

OVERAGE
The land is to be sold subject to an overage agreement for a period of 30 years. Under the agreement, 30% of any uplift in value attributable to a planning permission for a non-agricultural use will be payable to the vendors. The overage payment will be due on the sooner of the implementation of the development or the sale of the site with planning permission.

INGOING VALUATION
If any works are carried out for the benefit of the 2027 harvest, the purchaser/s will pay, in addition to the purchase price, all acts of husbandry including cultivations charged at CAAV rates together with the invoice cost of any seeds, fertiliser and sprays.

SPORTING RIGHTS, MINERALS & TIMBER
All sporting rights, timber or timber like trees, and mineral rights (except as reserved by Statute or to the Crown) are included in the sale.

WAYLEAVES, EASEMENTS & RIGHTS OF WAY
The property is sold subject to, and with the benefit of, all existing rights, including rights of way, whether public or private, light, support, drainage, water and electricity supplies and other rights, easements, quasi-easements, and all way-leaves whether referred to or not in these particulars.
Electricity poles cross the land.

TOWN & COUNTRY PLANNING
The purchaser/s will be deemed to have full knowledge and have satisfied themselves as to any planning matters that may affect the property.
VAT

Should any sale of the land or right attached to it become a chargeable supply for the purposes of VAT, such tax shall be payable by the buyer in addition to the contract price.

PLANS, AREAS AND SCHEDULES
These have been prepared as carefully as possible and based on the Ordnance Survey data. The plans are published for illustrative purposes only and although they are believed to be correct, their accuracy is not guaranteed.

DISPUTES
Should any disputes arise as to the boundaries or any points concerning the particulars, schedules, plans and tenant right issues, or the interpretation of any of them, the question will be referred to an arbitrator appointed by the selling agent.

ANTI MONEY LAUNDERING
In accordance with Anti Money Laundering Legislation, the Buyer/s will be required to provide proof of identity and address to the selling agents once an offer is submitted and prior to solicitors being instructed.

VIEWING
During daylight hours with particulars in hand. Please contact Anne Barker on or anne. to inform us of the day and time on which you plan to view.