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Land for sale
Lot 1, Long Lane, Newport
£495,000
Lot 1, Long Lane, Newport
£495,000
Our Summary
- An easily accessible block of agricultural land with considerable potential complimented by a substantial farm building and derelict Cold War nuclear bunker
- OVERAGE(i)An overage provision is to be applied by the current vendors at a rate of 35% of the uplift in value above purchase value over a 30-year term triggered by a change of use planning permission, full planning approval, or permitted development
- (ii)A Gravel Royalty Overage provision is to be applied by the current vendors at a rate of 50% over a 50-year term triggered by gravel/mineral extraction following full planning permission or permitted development
- Planning Potential (STPP)
Description
This 38.19-acre agricultural property on the outskirts of Newport, Isle of Wight, offers significant potential and comprises two lots. Lot 1 includes a substantial farm building and 17.08 acres of arable land, with direct road access off Long Lane. The building features a modern steel portal frame, corrugated steel sheet roof, and is currently used for agricultural storage. Lot 2 includes 2.75 acres of permanent pasture and 17.08 acres of arable land, with direct road access off Staplers Road. The property benefits from a single-phase mains electric supply and is situated approximately 2 miles from Newport town centre, which offers a range of amenities and local schools. The property is being sold as a whole or in two separate lots, with the option to hold over the barn for storage purposes and a 30-year overage provision applying to certain developments. The sporting, mineral, and timber rights are also included in the sale.