Overage Deed, Land on the South-East Side of Malton Road

FEATURES
Overage deed for sale by private treaty
Secured on 26.74 freehold acres
20-year term until May 2042
Triggered by planning permission grant
Payment calculated as 40% of uplift
Fixed base value of £250,000
Strategic location near York
Extensive frontage to the A64
Obligation to pursue planning consent
Potential for significant future payment

OVERVIEW
John Pye Property is pleased to offer for sale the beneficiary interest in an Amended Overage Deed, secured against a significant parcel of freehold land located on the southeast side of Malton Road, York.

The subject land comprises an undeveloped and generally level site of approximately 26.74 acres (10.82 hectares). It is strategically positioned with extensive frontage to the A64, providing excellent transport links to York, the A1(M), and the wider national motorway network. The site adjoins the Malton Road Industrial Estate and is situated in an area characterised by a mix of agricultural and commercial use.

The asset for sale is the right to receive a future payment under the terms of an Amended Overage Deed dated 13 May 2022. This agreement has a 20-year term, expiring in May 2042. An overage payment becomes due upon the grant of planning permission for development on the land. The payment is calculated as 40% of the uplift in the land’s value, with the initial base value contractually agreed at £250,000.

The land possesses significant “hope value,” with the Overage Deed containing a specific obligation for the grantor to pursue planning consent for a net zero carbon business park.


Previous consultations have reportedly involved the University of York for a proposed “Bio Business Park”. While the site is currently designated as Green Belt, this presents a unique opportunity for an investor to acquire a valuable contingent interest in a strategically located development site with long-term potential.

Site Area (Subject Land)
The land subject to the overage deed extends to approximately 10.82 Hectares (26.74 Acres).

Tenure
The asset for sale is the beneficiary interest in the Amended Overage Deed dated 13 May 2022, which is secured by a restriction on the freehold title number NYK509873.

VAT
To be confirmed.

Flood Risk


Viewings
Please contact John Pye Property