A let Portfolio of productive farmland and agricultural holdings offering renewable energy, development and BNG potential.
A let Portfolio of productive farmland and agricultural holdings offering renewable energy, development and BNG potential.
Presenting a brilliant opportunity to acquire a significant ring fenced block of land, The Finedon Estate is located in the heart of Northamptonshire between Finedon and Irthlingborough. The area has a long history of mining for ironstone with former ironworks based at Finedon, Irthlingborough and Wellingborough before being restored into agricultural production.
In all extending to about 1,728 acres (699 ha).
For sale by private treaty as a whole.
Property The Estate is made up of three Agricultural Holdings Act tenancies and four Farm Business Tenancies, five blocks of in-hand woodland and allotments let on short term agreements.
Offering opportunities for renewable energy and development there is also BNG potential to serve the large scale developments identified within Northamptonshire’s local plan, the property further comprises:
– 1,270.03 acres let on FRI Agricultural Holdings Act 1986 tenancy agreements including two farmyards and three residential properties – 396.87 acres let on short term Farm Business Tenancy agreements. – 54.67 acres of in-hand woodland – 6.58 acres of miscellaneous lettings – Annual income £143,353 – Potential to deliver excess of 4,000 Biodiversity Units
Location Located between the towns of Finedon, Irthlingborough and Wellingborough, The Finedon Estate is situated in a prime location with excellent transport links; 1 mile north of A45, 2 miles south of junction 10 of the A14, and 15 miles east of junction 15A of the M1.
Nearby Wellingborough sits on the East Midlands rail line with trains from London St Pancras taking approximately 45 minutes.
Strategic Opportunities A large area of land on the east side of the Estate, west of Irthlingborough and south of Finedon Road, achieved a resolution to grant outline planning permission subject to conditions and an agreed Section 106 Agreement, in August 2015.
The land was subject to a promotion agreement but owing to negotiations around a land swap and agreeing the S106, this agreement was not renewed on its expiry in 2021. The land is still considered strategic in the medium term.
Biodiversity Units Carter Jonas Natural Capital Services Team has been asked to assess the potential for The Finedon Estate to engage in the market for Biodiversity Units (BU). The Estate is within the Northamptonshire Natural Character Area and the North Northamptonshire Local Planning Authority area. As such it is well placed to serve the demand for offsite BU for development around Northampton and the M1 / A14 corridors. In addition, a large part of the Estate is within the Local Nature Recovery Strategy area. Thus, there is an opportunity to create a habitat bank and subsequently sell BU to developers.
To investigate this further Future Nature was engaged to produce a Biodiversity Net Gain assessment and opportunities report which was completed in September of this year. This report included a full baseline assessment of the habitats with a river condition assessment and set out three scenarios for the creation of BU’s that can be developed sequentially over time. Full report available on request.
Method of Sale The property is available for sale as a whole by Private Treaty.
Tenure & Possession The property is sold freehold and subject to the occupancies set out in these particulars.
Boundaries All boundaries outlined on the attached plans are for identification purposes only. Potential buyers are responsible for confirming the boundaries. Any mistakes, omissions, or inaccuracies will not allow the buyer to cancel the contract or claim compensation.
Wayleaves, Easements & Rights of Way The property is being sold subject to and with the benefit of all rights including; rights of way, whether public or private, light, support, drainage, water and electricity supplies and other rights and obligations, easements and quasi-easements and restrictive covenants and all existing and proposed wayleaves and easements whether referred to in these particulars or not.
There are a number of public rights of way over the Estate, as well as overhead lines.
Sporting, Timber & Mineral Rights All sporting, timber and mineral rights held in hand and are included in the freehold sale, insofar as they are owned.
Health & Safety Given the nature of a working farm, including areas of former quarry workings now restored to agricultural use, viewings are strictly by appointment with selling agents only. Prospective purchasers should not approach the property independently. Due to the Estate’s former uses, we ask that viewers exercise caution and remain with appointed representatives during visits. Neither the seller nor the selling agents are responsible for the safety of those viewing the property, and accordingly, those viewing the property do so at their own risk.
Covenants & Restrictions There are restrictions and covenants listed on the Land Registry Title deeds. Further information will be made available in a data room.
Viewings Strictly by appointment with the Vendors agents.
Local Authority North Northamptonshire Council 03001 263 000
Data Room Further planning, legal and technical information will be made available in a data room.
VAT The Vendor has opted to tax the property. VAT at the prevailing standard rate will therefore be payable by the purchaser in addition to the quoted purchase price, unless the sale qualifies as a Transfer of a Going Concern (TOGC). All interested parties are advised to seek independent professional advice regarding their VAT position.
Anti Money Laundering In accordance with the Money Laundering Regulations 2017, once an offer is accepted, the purchaser(s) must provide any requested information to complete the necessary due diligence as a legal requirement.
The next steps...
1
Establish funds
How will you fund the purchase?
Before making an offer on a property you will want to consider your financial situation, your income and outgoings.
Will you finance the purchase of your next property from the sale of an existing property which can put you in a chain, arrange a mortgage through your bank or buy the property outright.
To help you finance your next property purchase, we have a long established relationship with an independent mortgage broker who can discuss your situation with you.
They do all the legwork for you, working on your behalf with the lender
They compare wholesale mortgage rates from a large number of banks and lenders all at once
Their wholesale interest rates can be lower than retail (bank branch) interest rates
They offer more loan options because they work with numerous banks and lenders
They can finance tricky deals because of their knowledge and various lending partners
They are typically easier to get in contact with, and are less bureaucratic.
However advantages of working with your bank are:
You may be able to build off an existing relationship (and gain discounts if you have a checking or savings account)
You may already know the banker who will handle your mortgage
Banks may be more accountable than a smaller shop
They may offer lower interest rates in some cases
Their ability to add mortgage to existing banking profile and make automatic payments from linked account.
2
Making an offer
with Carter Jonas.
When you see a property you are interested in on our website, call us 24/7 to arrange a viewing. Or if you prefer, get in touch via our website and we will call you back to find a time to view the property that suits you.
Once you’ve found a property you want to buy, it’s time to make an offer. A bit of negotiation is to be expected, however don't offer so little that you end up in a lengthy negotiation process, as you might lose the property altogether if someone else makes a higher bid.
If other offers have been made on a property we aren't legally able to tell you what they are, but we may indicate if they were close to the asking price.
3
Need to sell a property
or thinking of letting?
If you have a property to sell, why not see how we can help you.
Or if you’re considering letting your property, we can take the stress out of managing your rental, and our award winning lettings team offer a service that can be tailored to your needs.
Combined with nearly 170 years of experience and one of the highest customer satisfaction scores in the industry, Carter Jonas is the perfect property partner.
