Lot 7<br>Land to the north of Lower Kingdon comprising some 52.58 acres, within which there is a lease for a 9.85MW solar development covering some 51.72 acres and estimated to generate 8,865 MWh per annum.<br><br>The lease was executed in March 2024 and provides an investment opportunity providing a lengthy income stream comprising a base rent of &pound;1,000/acre that is subject to upwards only annual RPI indexation (indexed linked from 2022 to &pound;60,321.60 for the 2024 period) or 5% of gross revenue. The lease has 30.5 years remaining, with the lessee having the right to extend for a further 10 years subject to a renewal payment of &pound;64,000 RPI index linked from 2022. The connection of the site to the grid will be commissioned in the new year.<br><br><br>Method of Sale<br>The farm is offered for sale by private treaty as a whole or in up to 8 lots.<br><br>Tenure & Possession<br>The lot is sold with vacant possession on completion, subject to the lease agreement applying to the solar farm.<br><br>Health & Safety<br>Potential purchasers should take particular care when inspecting the property being mindful of uneven and slippery ground surfaces.<br><br>VAT<br>Value Added Tax is not applicable.<br><br>Overage<br>In the case of lots 6, 7 and 8, the land will be sold subject to an overage clause whereby should further development take place within a period of 25-years, the Vendor's would be entitled to a further payment of 50% of any enhanced value attributed to that development. The overage to be triggered on the granting of planning permission. <br><br>Planning<br>Planning permission has been granted for both solar parks, the wind turbine and numerous farm buildings.<br><br>Wayleaves, Easements, & Rights of Way<br>The property is being sold subject to and with the benefit of all rights including: rights of way, whether public or private, light, sport, drainage, water and electricity supplies and other rights and obligations, easements and Quasi-easements and restrictive covenants and all existing proposed wayleaves for masts, pylons, stays, cables, drains, water and gas and other pipes whether referred to in these particulars or not.<br>There is a right of way over the track NG4883 at Lower Kingdon to the solar farm.<br><br>Sporting, Timber & Mineral Rights<br>Included within the sale in so far as they are available.<br><br>Local Authority<br>Torridge District Council<br>www.torridge.gov.uk<br><br>Viewings<br>By prior appointment with the Vendors' agents, Carter Jonas 01823 428 590.