Land at Milcombe, Banbury, Oxfordshire, OX15 4RJ

  • £750,000
Land at Milcombe, Banbury, Oxfordshire, OX15 4RJ
Under Offer

Land at Milcombe, Banbury, Oxfordshire, OX15 4RJ

Land at Milcombe, Banbury, Oxfordshire, OX15 4RJ
  • £750,000

Description

A block of Productive Grade II Arable Land lying in the Oxfordshire Cotswolds, between Banbury and Chipping Norton, with good hedge boundaries.  The land lies in attractive countryside and adjoins the A361 as well as the village of Milcombe, with access provided from a number of gates.

Location
A Block of Productive Grade II Arable Land Lying in the Oxfordshire Cotswolds.

29.749 hectares (73.51 acres).

The land lies between Banbury (5 miles) and Chipping Norton (8 miles) in attractive countryside and adjoins the A361 as well as the village of Milcombe.

Description
The farmland lies in a single block of 4 fields with good hedge boundaries.

Access to the fields is provided from a number of gates directly onto the highway as well as the initial part of the private drive to Hollies Barn.

Tenure
At present the farm is let on a Farm Business Tenancy and has been well farmed. Due to the sale, notice has been served to terminate the agreement as at 30th September 2021 and provide vacant possession.

Completion of any sale can be as at September or earlier if required by a purchaser.

Rights of Way and Easements
A footpath (Bloxham 136/8/10) crosses the property from the A361 to Milcombe to the rear of The Hollies.

In addition there are T poles carrying electricity east west across the property.

Entitlements
There are 68.66 BPS entitlements currently available with the property and will be transferred to the purchaser following completion subject to any statutory deductions. The 2021 BPS payment will be retained by the existing tenant.

Environmental Schemes
The property is not in any current environmental scheme.

Planning
The land falls within the Cherwell District Council area and is subject to the current Cherwell Local Plan 2011-2031 as well as the Bloxham Neighbourhood Plan 2015 to 2031.

Overage
The current owners have received interest recently from developers with a view to taking options on the land for residential development.

The owners intend to sell the property subject to an Overage Clause retaining 35% of any potential future uplift in value due to development on the property.

Minerals
Under a previous sale, the minerals rights on part only of the property were retained by a third party. More details are available from the selling agents.

Sale Method
The property will be sold as a whole by private treaty. For further information please contact Andrew Brown at our Faringdon Office. 01367 242422.

Direction
From the roundabout at the A361/A42 interchange at Chipping Norton take A361 Banbury Road east towards Bloxham and Banbury.

After approximately 6 miles turn left into Milcombe Village and the land will be found on the right hand side of the road. A Marriotts Property LLP Sale Board will identify the property.

Viewings
Viewings by appointment only with the agents. REF: AJB

Property Documents

Property Brochure
Property EPC

Stamp Duty Calculator



* The Stamp Duty Calculator attached is solely for Non-Domestic Property and not Residential. This claculator is provided as an indicator only and should not be relied upon in a purchase. Please confirm any stamp duty that may be payable with your lawyer or from HMRC website.

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