A superb opportunity to buy a top quality arable field with “Hope Value” potential for future development being just outside the allocated land limits for the 2016 Bridlington Adopted Plan.
METHOD OF SALE This property is for sale as a whole by Informal Tender, the closing date for which is 12 noon on Friday 7 December 2018. Exchange of contracts will be on or before 1 February 2019 with completion of contract on or before 15 February 2019.
PLEASE OBTAIN THE TENDER PACK FROM THE AGENT'S OFFICE
GENERAL REMARKS To be successful, tenders will need to reflect an element of "Hope Value" for future development. This field could be purchased as an investment and let for farming purposes until available for future development post 2029.
INVESTMENT OPPORTUNITY A superb opportunity to acquire a Grade 2 agricultural field which has potential for allocation for residential development in the next Adopted Local Plan for Bridlington which is scheduled for 2029. With the current Local Plan Adopted in 2016 including a large proportion of the field immediately to the South of this property this field has a good "Hope Value" for potential development based upon the incremental spread Northwards of land allocations to the North of Bridlington over the last 4 Adopted Local Plans
PROPERTY DESCRIPTION Field TA1870 3214 extends to approximately 12.29 hectares being 30.36 acres approx. The land is top quality Grade 2 agricultural land as is the surrounding area and has been farmed by the Seller on an arable crop rotation basis for the whole of the European subsidy payment period from 1993 to the present day having belonged to the family for many years.
PRICE OVERVIEW It is expected that this field will sell for a price in excess of its agricultural value to reflect the "hope value" of the land for future development purposes and dependent upon the value offered over and above agricultural value it would be the seller's preference not to have to impose a development clawback clause. The seller however reserves the right to do so if offers do not live up to expectations. The imposition of a Development Clawback clause or otherwise will be agreed with the successful tenderer before the tender is accepted.
SOIL TYPE The soils are in the Hunstanton range being till and glaciofluvial drift over chalk being deep well drained calcareous soils over chalk.
CROPPING The land will take most crops and has been farmed on arable rotation for many years by the Seller in owner occupation
DEVELOPMENT POTENTIAL In 2016 East Riding of Yorkshire Council received ratification of the new Local Plan for the development of Bridlington over the next 13 years. Whilst this field was not allocated for development in that period a large section of the fields immediately to the South of it have been. Given that development to the North of Bridlington has extended incrementally outwards to the North of the town over the last 4 Adopted Local Plans there is a potential for this to continue in the next round of land allocation from 2029 onwards and there is potential at that stage for the Council to consider the inclusion of part or the whole of this field as land allocated for development
SERVICES There are no services currently supplied to the property
BASIC PAYMENT SCHEME The land is eligible for the Basic Payment Scheme being registered on the Rural land Registry. The seller will claim the 2018 BPS payment. The seller will transfer the Entitlements to the successful purchaser the timing of which will depend upon completion of the legal paperwork. The intention is that this will be in time for the Buyer to claim the 2019 BPS subject to all legal paperwork having completed on before 15 February 2019.
STEWARDSHIP There are no Stewardship schemes affecting the property
SPORTING RIGHTS The sporting rights will transfer with the sale of the property
RIGHTS OF WAY AND EASEMENTS To the best of the Sellers knowledge there are no Rights of Way over the land for the benefit of another and there are no easements crossing the property
DIRECTIONS From the Old Town/Scarborough Road roundabout follow the signs for Flamborough along Marton Road.
At the first set of traffic lights turn left onto Bempton Lane.
After leaving the existing town boundary take the first turn right onto Bempton Short Lane.
The field is the second one on the right and there is a neighbours field of permanent grass at the south end.