Arable land for sale by Informal Tender. Tender deadline 18th August 2021.
Grade 3 arable land extending to about 10.38 acres (4.2 hectares) near Pickworth in Lincolnshire with access taken from the Folkingham Road.
The Soil Survey of England and Wales records the soils as being of the Ragdale series, which is slowly permeable seasonally waterlogged clayey and fine loamy over clayey soils. Suitable for winter cereals and stock rearing.
METHOD OF SALE
The land is being sold as a whole in one lot by Informal Tender, please study the accompanying informal tender form for further details on how to submit a tender. Tender deadline 12 noon Wednesday 18th August 2021.
BASIC PAYMENT SCHEME
The land is registered to receive payments under the Basic Payment Scheme, the entitlements are held by the tenant and can be transferred back to the landlord for open market value.
TENURE & POSSESSION
The land is sold freehold subject to a Farm Business Tenancy which expires on 10th October 2021.
RESTRICTIVE COVENANTS & UPLIFT CLAUSE
A clawback reservation requiring the payment of 50% of any uplift in value arising from the grant of any planning permission (other than for solely agricultural or equestrian purposes) during the period of 80 years from the date of the proposed sale. Such payment(s) shall become due on the earlier of: 1. A disposal of the property or any part thereof with the benefit of the relevant planning permission and 2. The implementation
of the relevant planning permission. The clawback rights shall be protected by a Land Registry restriction requiring the consent of the seller, a deed of covenant from any successor in title and a covenant restricting the use of the land to agricultural and/or equestrian purposes save that the property (or relevant part as the case may be) may be used in accordance with any planning permission in respect of which a clawback payment has been paid.
The usual church property covenants will apply as more particularly detailed on the tender form.
MINERALS, SPORTING AND TIMBER RIGHTS
As far as they are owned, sporting rights and standing timber are included in the sale. The mineral rights shall be reserved by the vendor in so far as they are owned.
The Purchaser will reimburse the Vendor for the cost of the Searches.