Lot 2 Thurlaston Lodge Farm - About 108.56 acres (43.93 ha) of predominantly arable land. With strategic development potential, subject to planning permission.

Situation
Thurlaston Lodge Farm sits in a strategic location to the west of Leicester Forest East and Lubbesthorpe.

Description
Thurlaston Lodge Farm Lot 2 provides a rare opportunity to purchase arable land of about 108.56 acres which will appeal to agricultural but is also close top the edge of the adjoining urban settlement (circa 600m) and so has strategic development potential, subject to planning permission.

Strategic Planning Potential
The land lies to the south-west of Leicester Forest East, outside the settlement boundary. Consequently, its development potential is limited to countryside appropriate uses as described by policies CS18 and DM2 of the Blaby District Core Strategy and Blaby Local Plan Delivery development plan documents. However, Blaby District Council are currently in the process of reviewing their Local Plan and this presents an opportunity to promote the land for residential/mixed use development as part of the Plan Review.

Part of the eastern extents of the land, south of the A47 and east of Desford Road/B582 (Lot 2) have previously been promoted to the District Council’s Strategic Housing Land Availability Assessment 2019 (Reference: LFE021). The Council’s assessment noted that there could be potential to develop the land if it were to be taken forward in conjunction with the allocated housing land to the north-east of the site (currently subject to proposals from L&Q Estates) and the nearby allocated land immediately beyond this (at New Lubbesthorpe). The assessment also noted that growth of this scale and in this location would have significant impacts on Desford Crossroads. As the crossroads have been identified as a key source of local congestion, Leicester County Council sought funding for the crossroads to be upgraded to a roundabout. It is understood that a £3.75 million grant has been approved by the Leicester and Leicestershire Enterprise Partnership to facilitate this upgrade. Consequently, it is considered that these highway improvements will help to unlock further future expansion to the existing development sites at Leicester Forest East and New Lubbesthorpe, including the land at Thurlaston Lodge Farm.

Please note that the future development potential of the site is dependent on the site being successfully promoted through the Blaby District Council Local Plan Review. Engagement with the next stages of the Local plan Review is recommended and essential if the site is to receive an allocation in a new Local Plan. Fisher German’s planning team can be contacted to discuss queries.

Description
Lot 2 – About 108.56 acres (43.93 ha) of predominantly arable land including a track and two ponds, as shown shaded lilac on the sale plan.

Lot 2 has road frontage to the A47 Hinckley Road and B582 Desford Road, with access via a gateway leading off Hinckley Road connecting to a track. The track provides direct access to most of the fields of which there are seven ranging in size from 8.41 acres up to 20.76 acres, being about 107.67 acres of arable land in total. Further gateways provide access directly off the B582. We do not believe water or electricity are connected but may be available in the locality.

Note: All areas stated are approximate and should not be relied upon. Potential purchasers are welcome to instruct an independent survey to verify these.

Tenure and Possession
The freehold of the property is for sale with vacant possession on completion (subject to any holdover requirements).

Rights of way, wayleaves and easements
A footpath crosses the western corner of Lot 2. These paths are shown with green hatched lines on the sale plan. Overheard power lines cross Lot 2. The property is sold subject to all rights of way, wayleaves and easements whether or not they are defined in this brochure. If the farm is sold in lots then cross-rights and reservations will need to be reserved where required, for example for services and maintenance.

Mineral, sporting and timber rights
These rights are believed to be included in the freehold title.

Basic Payment Scheme and environmental schemes
The property is registered with the Rural Payments Agency for the basic payment scheme. Payments for the current scheme year will be retained by the vendor. The purchaser(s) will be required to indemnify the vendor against any loss due to a breach of cross compliance. Entitlements may be available by separate negotiation. There are not believed to be any environmental schemes in place.

Ingoing crop valuation/holdover
The farm is subject to a contract farming agreement until 31st August 2022. An ingoing crop valuation will not be required but holdover until the end of October 2022 will be required to harvest the maize.

Overage
The property is offered for sale with overage provisions whereby a proportion of any increase in the value of the land/property from the grant of planning permission will be payable to the vendors (or their successors in title) as follows:

Lot 2 is offered for sale with an overage provision with an uplift percentage of 25% of any increase in value for a period of 50 years. Such overage to be triggered by any development (as defined within section 55 of the Town and Country Planning Act 1990) and payable upon implementation or a future sale with the benefit of a consent/s. The overage will exclude (i.e will not be triggered by) any development for agricultural and/ or private equestrian uses.

Searches
The vendor has instructed the usual searches at an early stage in order that these can be passed to a purchaser/s once a sale has been agreed. A condition of the sale is that the purchaser/s will be required to reimburse the cost of such searches from the vendor in addition to the purchase price for the farm. If the farm is sold in lots then the cost of these will be apportioned between the purchasers on an acreage basis. The searches include: Local authority, Highways, Environmental, Chancel repair liability,
drainage and water. The total cost of the searches is circa £1,700. Local authority Blaby District Council. Telephone:[use Contact Agent Button]

Data Room
A comprehensive data room is provided by the vendor’s solicitors, Forsters LLP, which includes title information, a draft overage deed, and matters relating to BPS, as well as an extensive range of other information including EPCs. Access to this data room can be provided to parties following their first viewing at the property.

Solicitors
Forsters LLP, 31 Hill Street, London, W1J 5LS.
FAO Henry Cecil/ Adam Saunby
Telephone:[use Contact Agent Button]

Directions
From Leicester Forest East, follow the A47 west. After passing Beggars Lane on the left, continue for a further ¾ of a mile and the entrance to the track of Lot 2 can be found on the left. Continue on the A47 and at the traffic lights turn left and the drive entrance to Lot 3 can be found on the right after about 130 metres. For access to Lot 1, continue west from the traffic lights along the A47 and after about 480 metres the drive entrance is on the left (it is 150 metres before the entrance to the Bull’s Head pub car park).

What3words:
Lot 2 gateway - ///verge.slide.gentle
Postcode: LE9 9JE

Viewings
Strictly by appointment through selling agents, Fisher German LLP.
Telephone:[use Contact Agent Button]
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