Oak Tree Nursury - Ottery St. Mary

METHOD OF SALE

The land will be offered for sale by Online Traditional Auction (unless sold prior.) The auction end date will be Wednesday 26th March 2025 at 4pm. The vendor reserves the right to withdraw or alter the property for sale prior to the auction end date.

SITUATION

Set just outside the town of Ottery St. Mary in the Otter Valley, this south facing parcel of land is gently sloping with lovely views down the valley. Access is via a right of way up a private track from Sidmouth Road (the main road from Ottery. St Mary to Sidmouth.)

DESCRIPTION

Extending in all to about 3.25 acres (1.32 ha) of south facing pasture the land is split into 3 small parcels surrounded by a mature hedge bank. To the northern edge is a timber barn/stable.

SERVICES

There is a water tap near the entrance to the land but the connection in the road was disconnected several years ago. Purchasers to speak to South West Water. There are no services connected.

OVERAGE/DEVELOPMENT CLAUSE

Due to the location of the field just south of the town of Ottery St. Mary, the land is to be sold subject to a development clause (not to include agricultural or equestrian use,) over the next 25 years, whereby a 25 % uplift in value would become payable to the previous owner. Further details within the legal pack.

WHAT3WORDS LOCATION

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VIEWINGS

Viewings during daylight hours with details in hand after calling Stags 01404 45885 to inform of date of time.

PROOF OF IDENITY

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.

BUYERS ADMINISTRATION FEES

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. An additional administration fee of £600 (inc. VAT) will be payable by the successful purchaser immediately after the auction. 

DEPOSIT PAYMENT

The Seller and Buyer agree that the winning Bidder may transfer the remainder of the 10% deposit (less the amounts paid online) within 48 hours of the end of this online auction. Clauses 6.1, 6.2 and 7.1 of the Holding Deposit Agreement shall be read as amended to reflect this accordingly. The remainder of the 10% deposit payment is handled by the buyer’s solicitors and must be in their client account no later than 48 hours post exchange. It is essential that you instruct your solicitor in advance of the auction.

LEGAL PACK

Copies of the legal pack and special conditions of sale are available online to be downloaded, via the tab on the online auction property listing page. Prospective purchasers will need to register with the Bamboo online platform in order to download the legal pack. It is the purchaser’s responsibility to make all necessary enquiries prior to the auction. Prospective purchasers are strongly advised to inspect the legal documentation, this will/may contain material information regarding the property, and to consult legal advice prior to bidding.

SOLICITOR ACTING

Emma Webb - Gilbert Stephens LLP - [email protected]

East Devon Hub Finnimore Industrial Estate Ottery St. Mary, EX11 1NR 01404 812228

COMPLETION DATE

Twenty business days after the auction.

DEFINITION OF AUCTION GUIDE AND 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 or no more than 10% above a single figure guide. Guide prices may change at any time prior to the auction.

SPECIAL CONDITIONS OF SALE

Particulars, remarks and stipulations contained herein shall be deemed to form part of the special conditions of sale/auction information pack and in case of any inconsistencies the provisions of the latter shall prevail. Special conditions of sale/auction information pack is available online. It is assumed that the Purchaser will have made all necessary enquiries prior to the auction.

IMPORTANT

Stags gives notice that: 1. These particulars are a general guide to the description of the property and are not to be relied upon for any purpose. 2. These particulars do not constitute part of an offer or contract. 3. We have not carried out a structural survey and the services, appliances and fittings have not been tested or assessed. Purchasers must satisfy themselves. 4. All photographs, measurements, floorplans and distances referred to are given as a guide only. 5. It should not be assumed that the property has all necessary planning, building regulation or other consents. 6. Whilst we have tried to describe the property as accurately as possible, if there is anything you have particular concerns over or sensitivities to, or would like further information about, please ask prior to arranging a viewing.

BUYERS ADMINISTRATION FEES

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. An additional administration fee of £600 (inc. VAT) will be payable by the successful purchaser immediately after the auction. 

DEPOSIT PAYMENT

The Seller and Buyer agree that the winning Bidder may transfer the remainder of the 10% deposit (less the amounts paid online) within 48 hours of the end of this online auction. Clauses 6.1, 6.2 and 7.1 of the Holding Deposit Agreement shall be read as amended to reflect this accordingly. The remainder of the 10% deposit payment is handled by the buyer’s solicitors and must be in their client account no later than 48 hours post exchange. It is essential that you instruct your solicitor in advance of the auction.