Grade 2 arable land for sale by Informal Tender. Tender deadline 18th August 2021.
Productive Grade 2 arable land extending to about 21.95 acres (8.88 hectares) near Sibsey in Lincolnshire benefitting from access directly onto the A16.
Classified as Grade 2, the Soil Survey of England and Wales records the soils as being of the Salop series. These soils are described as being slowly permeable seasonally waterlogged reddish fine loamy over clayey, fine loamy and clayey soils associated with fine loamy over clayey soils with slowly permeable subsoils.
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 on Wednesday 18th August 2021.
Basic Payment Scheme
The land is registered to receive payment under the Basic Payment Scheme. The entitlements belong to the tenant and are not included in the sale.
Tenure and Possession
The land is freehold subject to a Farm Business Tenancy which is due to expire on 30th September 2021.
The land is subject to drainage rates payable to the Witham Fourth District Internal Drainage Board. Buyers must satisfy themselves as to these charges.
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.