About this property

Detailed Description

This concrete haul road was constructed in 1998 as an access to Whisby Quarry off Eagle Road.

The road and civic amenity facility is on a lease to Tarmac until 2048 with rights reserved to share use of the road with farm traffic. The lease grants the right for the tenant to grant a sub-lease to LincWaste to use the civic waste facility and the haul road for access. That sublease to LincWaste commenced on 16th October 1998 and terminates 31st July 2048, in line with the head lease. The tenant can break the lease by giving 6 months notice on the civic waste site and by giving 6 months notice on the haul road, following completion of the quarry workings at Whisby. The lease is contracted out of the Landlord and Tenant Act 1954 security of tenure provisions.

The current rent passing of £34,626.00 per annum represents an attractive income stream secured for a number of years with scope for increase, being index linked. It is also subject to any additional permitted uses of the road and verge being agreed. Further details of the lease and rent receivable under the lease are available from the data room on request to the Seller's Agent.

At the north end of the road is a former waste disposal site formerly occupied by Lincolnshire County Council. The lease on this compound has now ended. We understand this was a recycling facility and as such are not aware of any contamination. This area has a permit for landfill issued in May 2005 which was reviewed and reissued in 2016.

The verges are a minimum of 2 metres and are included with the road. Rights will be reserved for use of the road by the Buyer of Lot 3, if sold in lots.

There have been negotiations to extend the permitted use of the road under the lease in return for a capital sum. The Seller has not concluded the negotiation. This leaves an unopened opportunity for a Buyer. Further details on the nature of this negotiation can be discussed with the Seller's Agent.

The total area including the road, verges and former waste amenity site is 4.38 hectares (10.83 acres). The former waste amenity site is 1.11 hectares (2.75 acres).

Viewing

Viewings of the farm will be by appointment only through the Seller's Agent.

Terms

Whisby Hall Farm is offered for sale by private treaty, as a whole, or in any combination of the five lots. The farm is available with vacant possession on completion with the exception of Top House which is sold subject to a secure lifetime tenancy, the quarry haul road which is subject to a lease and any holdover as stated in these sale particulars.