Former Lower Vern Landfill Site & Quarry, The Vern, Marden, Hereford, HR1 3EX
Planning Overage Rights on a former Quarry site in Marden, Hereford
Guide price*
£15,000-£20,000
Plus fees
Unsold
Lot information
Land/Development
Auction details:
Thursday 24th October 2024 @ 08:30AM
Planning Overage Rights on a former Quarry site which may have potential for further extraction and land fill subject to obtaining all necessary permissions.
Property Description
This opportunity comprises certain overage rights relative to the former Lower Vern Quarry which may have potential for gravel/mineral extraction followed by a restoration plan, which may involve landfill. Such a development would require planning permission together with environment agency licences etc. and upon granting of these planning permissions we understand that the beneficiary of the overage provision shall be entitled to 20% of the increase in land value. This overage provision lasts for 80 years from December 2011 and we understand includes the right for the beneficiary of the overage provision to instigate their own planning permission and benefit from 20% of the increase in land value as a result of planning permission being granted. The former Lower Vern Quarry comprises a site of approximately 10.6 acres or thereabouts gross, including the access, situated about 8 miles to the north of Hereford. The site has previously been utilised for gravel extractions and it is understood that there is still extractable gravel remaining on the site. For further information regarding this opportunity and more precise details of the overage please refer to the legal pack.Tenure
This lot comprises Overage Rights over the land only but not ownership of the land itself. For further information in respect of these rights please refer to the legal pack.Plans/Aerial Photographs
Any plans or aerial photographs provided with these particulars are for identification purposes only and their accuracy is not guaranteed.Value Added Tax
For clarification in respect of whether or not VAT will be chargeable on the purchase price please refer to the Legal Pack.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.Viewings
External viewings only.DISCLAIMER
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
LIVE-STREAMED AUCTION
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £2,160 inc VAT (£1,800.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
