Approx. 161.78 acres of land with investment opportunity at Cherry Willingham, close to the City of Lincoln.

Best & Final Offers by 12pm Friday 9th June


Location
The land lies north of the River Witham on the edge of the large and expanding village of Cherry Willingham, 3 miles east of the City of Lincoln and less than 1 mile from the Lincoln Eastern Bypass.

Description
158.78 acres (64.27 ha) of grade 2 and 3 land being partly fenland type soil and partly loamy soils over limestone. The land is in a Higher Tier countryside stewardship agreement.

Method of Sale
The land is offered for sale as a whole by Private Treaty.

Tenure
The freehold interest in the land is being offered for sale with vacant possession given on completion.

Services
There are no services connected to the land.

Development Overage
The land is being offered for sale subject to a development overage in the event that full or outline planning consent is granted for any development within the meaning of section 55 of the Town and Country Planning Act 1990 (except agricultural pasture or arable land). The overage is for a period of 35 years and ends on the 11th of February 2050. The overage amount is set at 30% of the enhanced value. Further details are available from the selling agents.

Greetwell Battery Storage Development
There is a proposal for a 24 Mega Watt (MW) Battery Storage facility (subject to planning) to be sited on the subject land as shown edged blue on the sale plan, the site area will be about 0.64 acres (0.25 hectares).

A two-year initial option agreement for a 30-year lease has been granted by the vendor to Fiskerton PV Ltd with a possible extension if a planning application has been submitted but not yet determined; until a longstop date of 2025.
The rent agreed under the lease is as follows:

• From the period of exercising until commissioning the site £16,800
• A commissioning payment of £36,000 or £1,500/ MW
• Annual rent once commissioned – the greater of £33,600 index linked from the option date or £1,400/ MW of commissioned capacity
• Reviewed every 5 years by reference to Consumer Price Index(CPI)

The development overage will be triggered by the development of a battery storage site and under the terms of the option agreement the developer will pay the overage and there will be a deduction from the rent over a period of years.

Further details are available from the selling agents.

Basic Payment Scheme (BPS)
The land is registered for the Basic Payment Scheme .

The vendor will claim and will retain the 2023 payment, and the purchaser will indemnify the vendor or any cross-compliance breaches through until the 31st December 2023.

Environmental Schemes
The land is subject to a Higher Tier Countryside Stewardship Agreement which commenced on 1st January 2022 and expires on 31st December 2031 covering 96.44 acres with an annual income of approximately £17,000 .

A copy of the Higher Tier Countryside Stewardship Agreement is available from the selling agents.

The principal objectives of the scheme are:
• Creation and management of wet grassland for breeding waders
• To reduce rush cover in parcels with heavy infestations to prevent loss of botanically rich wet grasslands
• To provide more varied sward structure

Ingoing Valuation
In addition to the purchase price the purchaser will be required to take over and pay for all growing crops based on the cost of inputs for seed, fertiliser and chemicals applied plus acts of cultivation based on CAAV rates or contractors’ rates (whichever is applicable) plus enhancement if applicable.

Public Rights of Way, Wayleaves and Easements
The land is not crossed by any public rights of way.

The land is sold subject to and with the benefit of any existing wayleaves.

The land benefits from an abstraction licence from the North Delph.

Plans, Area and Schedule
These plans have been prepared as carefully as possible and are produced for illustrative purpose only. They are believed to be correct, but their accuracy is not guaranteed.

Title
The land forms part of registered Title Numbers: LL352174 and LL356382.

Viewings
Unaccompanied viewing of the land is permitted subject to registering your interest with the vendors agents beforehand.

Directions:
The nearest postcode is LN3 4NG

What3words: ///sunk.energetic.result

The land is located to the south of the B1308 Fiskerton Road, just south of Cherry Willingham and indicated by the ‘For Sale‘ board.