Land to let173.88 Acres (70.37 Hectares) Land At East Torrington
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- Arable Land To Let
- Available as a Whole
- 2-Year Fixed Term Farm Business Tenancy
- Application by Tender
- 173.88 Acres (70.37 Hectares)
- Tender Date: 12 noon Friday 6th August 2021
AGRICULTURAL LAND, EAST TORRINGTON, MARKET RASEN, LINCOLNSHIRE
173.88 Acres (73.37 Hectares) To Let on a 2-Year Fixed Term Farm Business Tenancy
Tender Date: 12 noon Friday 6th August 2021
Introduction The land is situated to the north east of the village of East Torrington, Lincolnshire and is accessed via a metalled track through Little London if approaching from the north or via Hainton from the south.
Comprising approximately 173.88 Acres the bare arable land is offered to let as a whole on a 2 – Year Fixed Term, Farm Business Tenancy (FBT).
The Land The land is classified as Grade 3 on the Agricultural Land Classification Maps and is largely of the Beccles 1 Series. The soils are typically loam over clay and are free working.
Basic Payment Scheme The land is registered on the Rural Land Register and the Basic Payment is currently being claimed. The relevant number of Entitlements will be transferred to the Tenant for the period of the Tenancy.
On termination the entitlements (or their equivalent) will be transferred back to the Landlord, or nominated third party, with no compensation payable to the outgoing tenant.
The outgoer retains the right to the 2021 payment.
Cross Compliance Tenants will be required to ensure the terms of Cross Compliance are adhered to, so as not to prejudice the Basic Payment Scheme claim (2021).
Rights of Way The land will be let with the benefit of all existing rights of way, wayleaves, easements and rights of drainage.
Outgoings The Tenant will be responsible for all usual outgoings, where applicable, including drainage rates payable to both the Environment Agency and the Internal Drainage Board. The current year’s rate will be apportioned.
Reservations All minerals and timber reservations will apply.
Sporting Rights The sporting rights are reserved to the Landlord. It will be a requirement of the Tenancy that an agreed area for cover strips are made available each year. This is to be subject of separate negotiation.
VAT There is no VAT to be charged on the rent.
Stamp Duty Land Tax (SDLT) Where it becomes payable the Tenant will be responsible for any tax due. It is advised that they ensure that they have considered this element prior to tendering.
Confidentiality All information received from applicants will be treated in strict confidence and used only in connection with this tender.
Landlords Reserved Rights The Landlord reserves the usual rights of access for surveys, inspecting and to grant easements etc.
Holdover and Early Entry Early entry on to the land following harvest of the 2021 crops will be allowed subject to having signed the aforementioned Tenancy Agreement.
Farm Business Tenancy The Farm Business Tenancy will be for a fixed 2 – Year Term. The Rent will be payable in two equal instalments, half yearly in advance. Assignment and subletting will not be permitted.
Method of Letting The land is offered to Let by Informal Tender. Any interested parties are requested to submit their tenders on the Tender Form enclosed with these Particulars and presented in a sealed envelope marked ‘Land at East Torrington FBT’.
Tenders are to be received by 12 noon on Friday 6th August 2021 at Perkins George Mawer & Co, Corn Exchange Chambers, Queen Street, Market Rasen, Lincolnshire LN8 3EH.
Tenders should clearly state any specific conditions on which the offer is made. They should not be linked to any other offer. The Landlord reserves the right to not accept the highest, or indeed any offer.
Viewing Interested parties are permitted to view the property on foot, during daylight hours with a copy of Particulars of Sale to hand.