METHOD OF SALE
The property will be offered for sale by Online Traditional Auction. The end of the online auction is scheduled for 8th February 2022 at 6pm. The vendor reserves the right to withdraw or alter the property for sale prior to the auction end date. The property can be accessed via our website stags.co.uk - Online Property & Land Auctions. Auction Guide of £175,000 - £225,000.
SITUATION
Surrounded by rolling Cornish countryside, Grampound is a popular village set between the Cathedral City of Truro and St Austell. It has local facilities including a public house, shop and post office. There are two country stores both located within 3 miles of the land and buildings, providing a range of products to cater for both livestock and equestrian needs.
A more comprehensive range of leisure and shopping amenities can be found at St Austell, approximately 6.5 miles east of Grampound, whilst Truro is 9 miles west. Both towns have veterinary practices. Access to the A30 dual-carriageway is at Fraddon. (7.5 miles)
DESCRIPTION
In all, the land and buildings cover 17.59 acres (7.12ha). There are 4 fields which are currently being used to graze cattle, but are equally suitable for cropping and various other agricultural uses. The land is classified as Grade 2 and is either flat or gently south facing. The fields are enclosed by generally stockproof Cornish hedges and have internal gateways between one another. There are two agricultural buildings; a 4 bay timber framed cattle shed and an open-sided Dutch barn. There are no Basic Payment Entitlements included and no Environmental schemes have been committed to.
DEVELOPMENT POTENTIAL
The portal frame cattle shed building may offer potential for the conversion/creation of a residential dwelling under Class Q Permitted Development Rights. Purchasers must satisfy themselves on this point. However please note the overage provision.
OVERAGE PROVISION
An Overage provision will be included within the contract, requiring the purchaser and their successors in title to pay the Vendor 35% of any uplift in value over and above agricultural value, triggered on the granting of planning permission of any residential or commercial use, within 23 years from completion of this purchase, For the avoidance of doubt, planning for any agricultural buildings or uses will not trigger the overage.
SERVICES
The land is currently watered from troughs fed by a private mains supply that will be severed on completion. We understand that mains is available for connection in the road frontage to the south. Purchasers must satisfy themselves on this. Please see the Drainage search within the Legal Pack. An overhead electrical supply crosses the land.
LOCAL AUTHORITY
Cornwall Council, County Hall, Treyew Road, Truro, Cornwall, TR1 3AY, T: 0300 1234 100, www.cornwall.gov.uk
RESTRICTION, WAYLEAVES AND RIGHTS OF WAY
The property is sold subject to and with the benefit of any wayleave agreements in respect of electricity or telephone equipment and the property is sold subject to and with the benefit of any public or private rights of way. We are not aware of any public rights of way that affect the property.
TENURE & COMPLETION
The property is sold freehold with vacant possession available on completion on 28th March 2022, (after the termination of the current 5 year letting arrangement).
BUYERS & ADMINISTRATION FEE
The successful purchaser(s) will be liable to pay the sum of £5,000. From this a "buyer's fee" of £2,400 (Inc. VAT) is retained by Stags/Bamboo Auctions as a contribution towards the online platform costs, and £2,600 is payable towards the purchase price/deposit.
An additional "administration" fee of £1,200 (Inc VAT) will be payable by the successful purchaser immediately after the auction. This will be separately invoiced by Stags. The purchaser shall also reimburse the vendor the cost of the searches carried out.
PROOF OF IDENTITY
Under the Money Laundering Regulations 2017 it is a requirement for Estate Agents to perform due diligence checks on any person that intends to bid at auction. There will be a requirement for all bidders to register via the online sales site and complete the ID checks. There is no charge for registration.
VENDOR'S SOLICITORS
Andrew Baskerville of Loxley Solicitors, Langford Mill, Kingswood, Wotton-under-Edge, Gloucestershire, GL12 8RL T: 01453 700620 [email protected]
AUCTION LEGAL PACK
This includes the searches, draft contract, deeds/epitome of title, special conditions of sale etc, and is available online to be downloaded, via the tab on the online auction property listing page. It is the purchaser's responsibility to make all necessary enquiries prior to the auction. Due to Covid precautions we are not making it available for inspection at Stags offices. Prospective purchasers are strongly advised to inspect the legal documentation and to consult legal advice prior to bidding.
DEFINITION OF GUIDE PRICE & RESERVE
-Guide price(s) are an indication of the seller's expectation.
-Reserve price(s) are a figure below which the auctioneer cannot sell the Lot at Auction. We expect the Reserve will be set within the Guide range.
-Guide price(s) may change at any time prior to the Auction.
VIEWING
Strictly by prior appointment with the vendor’s appointed Agents, Stags Truro Office - 01872 264488. Please take care when viewing the property, particularly in the vicinity of livestock or on uneven ground.
DIRECTIONS
Heading east on the A390 from Truro into Grampound, proceed up Fore Street, passing the Dolphin Inn PH before taking the left hand turning onto Pepo Lane. Continue along Pepo Lane for approximately 1/3 of a mile, where the land and buildings can be accessed via the middle gateway of 3 adjacent gateways on the right hand side. A For Sale board has been erected. (There is also a gateway onto the main road to the south, but the Pepo Lane access is safer for the purpose of viewings).