Binbrook Top Farm, Kirmond Road

Binbrook, Market Rasen, Lincolnshire LN8 6HY

Guide price  £8,100,000

BINBROOK TOP FARM

Kirmond Road, Binbrook,
Market Rasen, Lincolnshire LN8 6HY

Lincoln - 24 miles Market Rasen - 7.5 miles Louth - 9 miles

In all about 808.07 acres (327.03 hectares)

An outstanding commercial arable farm. Highly productive, predominantly grade 2, silty wold land over chalk. Offered for sale as a whole or in two lots.

Well-equipped farmyard including grain storage for 3,000 tonnes in two buildings, workshop and machinery store, machinery and fertiliser store, secure machinery compound, office building, traditional range of brick and slate, telecom mast site lease.
Two pairs of cottages and a detached cottage are options at additional fixed prices.

For sale by Informal Tender - Tuesday 18th August 2020, before 12 noon.

THE WHOLE

In all about 808.07 acres (327.03 hectares).

Guide price £8.1million.

(with options to buy the cottages at fixed prices, in addition to the purchase price of the farm).

LOT 1

Binbrook Top Farm, including the farmyard with farm buildings, farm office and the benefit of a telecom mast site.
In all about 664.05 acres (268.75 hectares).

Guide price £6,750,000.

Optional cottages in addition to the purchase price of the farm.

A. Two pairs of cottages, 1 & 2, 3 & 4 Binbrook Top Cottages, at the fixed price of £600,000 (0.87 acres, 0.35 hectares, or thereabouts).

B. Birkenshaws Top Cottage (subject to tenancy) at the fixed price of £200,000 (0.65 acres, 0.26 hectares or thereabouts).

LOT 2

Farmland, east of Binbrook village. In all, about 144.02 acres
(58.28 hectares) Guide price £1,350,000.

Description and Location

Binbrook Top Farm is situated in the famous rolling countryside of the Lincolnshire Wolds, an Area of Outstanding Natural Beauty.

A renowned farming district, setting high standards of arable farming. The land is about 400 feet above sea level.

The farm lies astride the village of Binbrook.

The main holding of 664 acres, including the farm buildings and five cottages, is adjacent to the west side of the village.
A further block of 144 acres is located east of the village, between Newton Lane and Blands Hill.

The farm is located in the north east of Lincolnshire, around 24 miles north east of the cathedral city of Lincoln.
The M180 lies 15 miles to the north, giving good access to the national road network and to the east, the coastal ports of
Immingham and Hull.

SITUATION & AMENITIES

Binbrook has a shop, post office, doctor's surgery, primary school, nursery school and public house. Caistor (9.5 miles) provides local shopping with supermarkets and a grammar school. Market Rasen (7.5 miles) is an historic market town with supermarkets, shopping, restaurants, a secondary school, racecourse, veterinary centre and sports centre. It has a mainline train station linking it to Grimsby in the north, and Newark to the south, (mainline trains to Kings Cross 80 minutes). Barnetby station (19 miles) offers a rail link to Doncaster mainline station. Humberside airport is 16 miles away.

ACCESS

The farm is accessed directly from the B1203 Kirmond Road public highway between Tealby and Binbrook via a private drive. There is an excellent network of internal roads and tracks to facilitate modern arable farming. There are other access points from the southern end and eastern side of the farm.

The 144 acres, east of the village, are accessed off two public highways, Newton Lane and Blands Hill.

Farmland

The land is highly productive Lincolnshire Wold and capable of producing very good yields of arable crops. Potatoes have not been grown for at least 30 years. The fields are of a good size and shape, ideal for modern arable farming with large equipment.

Agricultural Land Classification

The land is shown as predominantly Grade 2 on the DEFRA Agricultural Land Classification map. This is a general guide only and is not site specific.

Soil & Cropping Potential

The land is free draining with a depth of silty soil over chalk. It is described by the Soil Survey of England and Wales as predominantly Andover 1 Association. The soil is well-suited for producing combinable crops with a long working season and regarded as very productive and fertile. The benefits of farming land over chalk include ease of working, ease of natural drainage and the ability of crops to access moisture at a time of drought. Very well illustrated over the last nine months!

Land Drainage

As the land is naturally draining, there are no man-made land drainage schemes, or ditches. The farm is in a Nitrate Vunerable Zone

Woodland

There is a long-established wood of about 7 acres (The Pheasantry) with a wonderful annual show of bluebells. There is a further bank of woodland (Well Platt) of 2.5 acres with the grass vale between them. This makes for a particularly pleasant environmental area, with an interesting range of flora and fauna.

Services

The property has the benefit of mains electricity and water. Drainage is to private systems. Three phase electricity to the farm buildings.

Farm Buildings

The farm buildings comprise both modern and traditional buildings and are shown numbered on the block plan.

1. Farm Office (8.5m x 5.3m)
Brick under a pantile roof, office space with wc. There is a second wc accessed directly from outside.

2. Grain Store (30.0m x 18.0m)
Steel frame, corrugated roof and cladding. Capacity about 900 tonnes. Two pairs of sliding doors at both ends. Fan house with Matthew & Yates fan. Grain walling to 2.2m in height. Drive over ventilated floor with central air tunnel.

3. Workshop and Machinery Store (23.0m x 10.5m)
Concrete frame, corrugated roof and cladding over block walling with concrete floor. 2 bays with sliding doors for use as a workshop.

4. Traditional Range (66.0m x 6.5m)
Brick under a felted slate roof. Central barn with keystone carved 1866. Well-maintained loft and enclosed workshop space below with 3-phase electricity installed. Single storey extension at both ends with 3-bay cart sheds and lock up stores in each.

5. Grain Store (32.5m x 30.0m)
Capacity about 2,100 tonnes. Steel frame, corrugated roof, grain walling to 3.2m in height. 3 storage bays with drive over ventilated floor divided by 2 wooden air tunnels. Two fans per tunnel, with a set of 2 pairs of LPG fed CCH burners.

6. Lean-to (32.5m x 10m)
Providing housing for fans and additional machinery storage, with 7. Compound

8. General Purpose Building
For machinery & fertiliser storage. Concrete frame, corrugated roof and corrugated cladding to 3 sides (27.5m x 12.0m).

Dwellings (optional; all let on residential tenancies).

Birkenshaws Top Cottage (Option B)

The detached house is accessed via the farm road that joins the public highway south of Binbrook. It is built from brick with a tile roof and the accommodation comprises;
On the ground floor:
Dining room (5.6m x 2.7m); Sitting room (5.6m x 3.6m); Kitchen (2.4m x 4.9m) with fitted low level units, stainless steel sink and drainer. Space for fridge freezer and cooker. Utility room (2.5m x 2.4m) with door to boiler room and door to outside.

On the first floor:
Bedroom 1 (5.9m x 2.7m); Bedroom 2 (5.1m x 3.7m); Bathroom (3.7m x 2.4m) with low level wc, sink, bath, cupboard and hot water cylinder with immersion heater; Bedroom 3 (3.6m x 2.4m).

Outside there are gardens laid to lawn and brick and slate outbuildings.

Binbrook Top Cottages (Option A)

Two pairs of semi-detached cottages are situated near the entrance of the drive to the farmyard. They are constructed of brick under a tiled roof and are all accessed via their own wooden hand gate and have a path leading through their private gardens to their front door. The accommodation in each cottage is similar and comprises;
On the ground floor:
Utility room (approx. 2.4m x 2m); Kitchen (approx. 2.5m x 3.5m); Sitting room (approx. 4.6m x 4.6m).

On the first floor:
Bedroom 1 (approx. 3m x 2.5m); Bedroom 2 (approx. 4.5m x 3m); Bedroom 3 (approx. 3.5m x 2.7m); Bathroom.

To the front of the cottages is the access drive and car parking area for each cottage. In the event that the cottages are not purchased with the farm, there will be a restrictive covenant placed on the grass area to the front and side of the cottages in respect of future use.

METHOD OF SALE

The farm is offered for sale by informal tender (subject to contract), as a whole or in two lots. The five cottages which lie within the boundary of the main farm are available to purchase at fixed prices with Lot 1. Alternatively, the seller will grant an option which may be exercised by the buyer within 3 months of completion. Two pairs of cottages adjacent to the farmyard comprise Option A (£600,000) and the detached cottage (Birkenshaws Top), Option B (£200,000).

Prospective purchasers are invited to bid for the farm as a whole or in two lots according to their valuation on the prescribed form. The tender form is available in the data room or on request.

Those wishing to bid for the farm must follow the directions for the tender procedure in this brochure, and on the form. Bidders must indicate if they intend to purchase the cottages, or require an option to purchase the cottages, on the tender form.

LOCKOUT AGREEMENT

A bidder whose offer is accepted (subject to contract) will enter into a lockout agreement preventing the seller from accepting another offer within 20 working days of the date of the lockout agreement. A fee is payable by the successful bidder for the lockout agreement, which will be credited against the deposit payable on exchange of contracts, but otherwise non-refundable.

The lockout agreement fee will be £20,000 in respect of the whole of the property, or alternatively; Lot 1 only, a fee of £15,000, Lot 2 only, a fee of £5,000. The lockout agreement duly signed, with the appropriate fee must be included with the tender.

DATA ROOM

To assist prospective bidders offering for the farm, a data room is provided through the solicitors for the sellers, Roythornes, to access information online in relation to title, tenancies, Basic Payment scheme, current and past cropping along with comprehensive searches and enquiries. This information is available in the period leading to the submission of tenders for bidders and their advisers to access, to assist in the formation of their bid.

This extensive information is also provided to ensure that the contracts can be exchanged within 20 working days of acceptance of tender. Access to this data room can be obtained on the application to the sellers agent, JHWalter of Lincoln or Roythornes of Spalding.
Claire Hindmarsh, Roythornes 01480 423827 clairehindmarsh@roythornes.co.uk

GENERAL REMARKS

Sporting Rights

The sporting rights are in hand and included with the freehold. There has been no formal shoot over the farm for 30 years. Nevertheless, the farm has real potential to develop a partridge shoot.
A number of pairs of wild English partridge are recorded annually.

Minerals

The mineral rights are included with the freehold in so far as they are owned, with the exception of the minerals beneath field NG 4941, part of the land east of Binbrook. (Lot 2), which are reserved to a third partly.

Basic Payment Scheme

The farmland is eligible for the Basic Payment Scheme with eligible areas detailed on the schedule. Basic Payment Entitlements are held and will be included in the sale price tendered. The entitlements will be apportioned out of the sale price at the rate of £140 per hectare entitlement. In addition VAT is payable on the entitlements. The 2020 Basic Payment will be retained by the seller.

Lot 1 has an eligible area of about 261.95 hectares
Lot 2 has an eligible area of about 58.27 hectares

The Rural Land Register Maps are included in the data room.

Environmental Stewardship

Part of the farm is within an environmental scheme, details of which are in the data room. These parcels can be transferred to an existing scheme. Alternatively they will be withdrawn.

Tenure

The farm is offered for sale freehold with vacant possession on completion, subject to certain leases, licences and other agreements, which can be viewed in the data room.

The Land Registration documents are available to be viewed in the data room. The residential tenancy agreements, redacted as necessary, can be viewed in the data room.

There is a telecoms mast occupying about 80m3 of land next to the farmyard. The site is occupied by Airwave MM02 Ltd (O2) on a lease for a period of 20 years from 2003 for a 20m high monopole. The current rent passing is £3,750 per annum.

An electricity substation is occupied by Yorkshire Electricity on a 99 year lease from 1979. The current rent passing is £175 per annum.

Drainage & Rates

The farm is not within the boundary of any internal drainage board, as the land is naturally free draining and has no water
courses.

A General Drainage Charge is paid annually to the Environment Agency. The current charge is £900.04 for the whole farm.

Council Tax

Council Tax is payable on the five cottages to East Lindsey District Council.

Property Band

1 Binbrook Top Cottage A
2 Binbrook Top Cottage A
3 Binbrook Top Cottage A
4 Binbrook Top Cottage A
Birkenshaws Top Cottage B

Overage

The seller is not imposing any overage or clawback provision.

Holdover & Early Entry

The seller will harvest the 2020 crops and continue to farm the land until it is sold. The cropping plan for 2021 is set out in the
cropping schedule. Early entry by agreement.

The seller will reserve rights of holdover to harvest any crops left in the ground at completion and to use parts of the farm buildings for the storage of crops and machinery until 31st December 2020, paying for electricity used.

Growing Crops

In addition to the purchase price, the buyer will be required to pay to the seller the full amount of ingoing valuation due to an
outgoer in accordance with the price and recommendation of the Central Association of Agricultural Valuers. There will be no
counter claim whatsoever of any kind. There will be no claim for residual manurial values of fertiliser or lime applied.

Post Harvest

The seller intends to establish oil seed rape and undertake post-harvest cultivations, as necessary. Prior to completion, at
the buyer's cost, crop establishment for the 2021 harvest can be undertaken by the seller, if required.

Easements Wayleaves and Rights of Way

The property is sold subject to, and with the benefit of, all easements, wayleaves and rights of way whether public or private
and whether or not mentioned in these particulars of sale.

There are electricity wayleaves crossing the farm and the details are in the data room.
There are various footpaths and bridleways crossing the farm which are shown on the indicative plan in the data room.
The main farm benefits from a right of way through a neighbouring property, off Binbrook High Street. This right of way
also gives access to the water company owned sub-stations.

Planning & Highways

The farm lies within the East Lindsey district and is located in an area designated as an Area of Outstanding Natural Beauty. The Local Plan was adopted in July 2018 and sets out the planning policy for the area.

Local Authority

East Lindsey District Council, Tedder Hall, Manby Park, Louth,
LN11 8UP. Tel: 01507 601111

Control of Asbestos at Work

The Asbestos Management Plan can be viewed in the data room.

Irrigation

There is no licence to irrigate the land.

VAT

It is not expected that the sale will attract VAT. However, in the event that the property, or any element of the sale attracts VAT, this will be payable in addition to the purchase price. VAT will be payable on the element of the agreed sale price, which is allocated to the Basic Payment Entitlements.

Fixtures and Fittings

All fixtures and fittings are excluded from the sale unless specifically mentioned in the particulars of sale.
The Calor Gas tanks storing liquid propane belong to the gas company. The tank storing liquid fertiliser belongs to the Omex
Agriculture Ltd.
Both can remain on the farm, subject to the buyer negotiating new contracts with the supply companies.

Chancel Repair Liability

The property benefits from a Chancel Repair insurance policy, a copy of which can be found in the data room. This policy will be assigned to the Buyer on completion.

Seller's Solicitor

Roythornes, Enterprise Way, Pinchbeck, Spalding PE11 3YR
01775 842500

Claire Hindmarsh
01480 423827 clairehindmarsh@roythornes.co.uk

VIEWING

If you wish to view the farm, please contact;

Ian Walter
07919 694230 01522 504333 ianwalter@jhwalter.co.uk

Mike Johnson
07950 230922 01522 504325 mikejohnson@jhwalter.co.uk

When viewing, please take all precautions necessary to be safe on a working farm. Due to restrictions placed on the sale by the coronavirus pandemic, internal inspections of cottages will not be conducted prior to tender, except in exceptional circumstances.

Arrangements will be made following the conclusion of the tender, if the purchaser intends to purchase the cottages or take
an option.

BUYER IDENTITY CHECK

Please note that prior to acceptance of any offer, JHWalter are required to verify the identity of the buyer to comply with the
requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. If prospective buyers are content to do so, the completion of the Money Laundering Procedure, prior to the submission of Tenders, will assist the speed at which offers can be potentially accepted. We are most grateful for your assistance in satisfying this important regulation.

TENDER PROCEDURE

The property is to be sold by informal tender and solicitors will be instructed after acceptance of an offer.

Tenders must be submitted using the prescribed form. The tender form must be fully completed and delivered to JHWalter LLP
in a sealed envelope marked externally - Tender - Binbrook

Top Farm or by email to tenders@jhwalter.co.uk. The tender must include the name and address of the buyer's solicitor;
confirmation as to how the purchase will be funded; the lockout agreement, duly signed and the appropriate lockout agreement fee.

The seller is not bound to accept the highest or indeed any tender.

Offers must be made for a fixed amount and must not be linked in any way to other offers, which may be received.

The deadline for receipt of tenders is 12 noon on Tuesday 18th August 2020.

Tenders will be accepted as soon as practical, following completion of the Money Laundering procedure.

Completion is set for 1st October 2020.

DIRECTIONS - LN8 6HY

The farm lies astride the village of Binbrook.

The main holding is adjacent to the west side of the village.
It is accessed from the B1203 Kirmond Road between Binbrook and Tealby.

The block of 144 acres is located east of the village between two public highways, Newton Lane and Blands Hill.

Date of photography 1 June 2020

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