Planning Overage Rights across Charnage Quarry, Chaddenwick Hill, WARMINSTER, Wiltshire, BA12 6AP
starts 11:00 AM at Grand Connaught Rooms
overage rights across 11.5 acres
overage rights across storage unit and former quarry
Mere lies off the A303 and is a small historic town located between Shaftesbury to the south and Warminster to the north. The quarry itself lies directly off the north side of the A303 which provides fast links east towards the M3 at Basingstoke or south west towards the west country. Communications are further enhanced by rail connections at both Gillingham and Tisbury which provides direct services
to London Waterloo.
The site which comprises some 11.5 acres of former quarry plus storage unit itself it’s not being sold as part of this lot. It is the overage rights sold across the storage unit and former quarry which are registered within the title of property and the buyer of this lot will benefit from these overage rights. The overage rights provide for the land owner to pay the beneficiary of the overage rights 35% of the increase in land value resulting from any planning permission being granted for development. The overage payment is 35% of the increase in land value and the land owner will have to pay this to the purchaser of this lot when either planning permission is granted or a development commences where planning permission would ordinarily be required. The overage period is for a term of 80 years from October 2018. In reality, the purchaser of this lot could apply for planning permission themselves forcing the owner of the land to pay out 35% of the increase in value of the land when planning permission is granted.
For each Lot, a contract documentation fee of £1000 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus makes every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers’ risk.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
Lot location is based upon nearest property postcode only. Actual location of property being sold may differ.
Information about this lot will be sent to your friend.
The legal documents are not yet available, please save the Lot to be notified when they become available or when they change.