Guide Price £525,000
Land at Durham Riding
Mixed temporary and permanent grassland • Extending to 38.12 hectares (94.12 acres) • Mains water supply • Access from a public highway • Basic Payment Scheme subsidy and Entitlements included in the sale.
The land at Durham Riding is a mixture of temporary and permanent grassland extending to 38.12 hectares (94.12 acres). The land is currently farmed in-hand as part of a larger holding and is used for grazing cattle and sheep along with silage production.
Currently there is approximately 34.00 acres of temporary grassland which has been established for two years; the remainder is permanent grassland. The land is accessed directly off the public highway and has a mains water supply.
The land is serviced with a mains water supply.
The property is subject to an overage provision for 50% of any increase in value for development . This was first registered in 2011.
The mineral rights are owned by a third party who have an Option Agreement until 2036 to take a Lease of the Farm to extract minerals, which is subject to royalty payments. The buyer will need to enter into a Deed of Covenant with the third party to protect this Option Agreement.
Easements, Wayleaves and Rights of Way
The property is sold subject to, and with the benefits of, all rights of way, water drainage, water courses and other easements quasi or reputed easements and rights of adjoining owners (if any) affecting the same and all existing and proposed wayleaves and other matters registered by any competent authority subject to statute.
Basic Payment Scheme
The land is sold with the benefit of Entitlements to receive payments through the Basic Payment Scheme should the purchaser be a suitable candidate and eligible to qualify for the Scheme on completion of the land sale. The Vendor has claimed the 2018 Basic Payment Scheme but will undertake to transfer the Entitlements to the Purchaser following completion of the sale.
The purchaser will be required to sign an indemnification stating they will maintain the land in good agricultural and environmental condition, and follow the Basic Payment Scheme Cross Compliance Regulations. Further to this the indemnification will also hold the purchaser liable should be Vendor be penalised for breach of cross compliance.
Tenure and Possession
The property is offered freehold with vacant possession on completion of legal sales contracts.
Viewings of the land must initially be lodged with Adeline Jones at the Alnwick Office but can be at any reasonable time during daylight hours with possession of these particulars.