Lot 46 Lovedean Solar Farm, Day Lane, Lovedean, Waterlooville, PO8 9RY

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Simon Bailey

simon.bailey@bidx1.com
+44 (0) 20 3929 8403

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BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Sian Davies

sian.davies@knightsplc.com
+44 (0) 116 262 4225
Description
Map
Viewings

Addendum
1. The red outline on the aerial image is for indicative purposes only. For the extent of the title being sold please refer to the title plan in the legal pack. 2. The site area referred to in the marketing brochure is incorrect & should be disregarded. Prospective purchasers' attention is drawn to the online details, that are for guidance purposes only. 3. The Auctioneers have not had sight of any written confirmation of the current rent payable. Prospective purchasers' attention is drawn to the Tenancy Schedule in the Special Conditions of Sale within the legal pack.
Property Summary
  • On behalf of J Liddiment and P Greenhalgh of Duff and Phelps acting as joint Fixed Charge Receivers
  • Freehold solar farm investment
  • Approximately 14.00 hectares (34.60 acres)
  • 18,500 panels with a capacity of 5.76MW
  • Let until 2038 (no breaks)
  • Annual RPI rent increases
  • Currently producing £39,824.77 per annum
Tenure

Freehold

Location

Waterlooville is a market town in Hampshire lying about 8 miles north of Portsmouth and 20 miles south east of Winchester at the southern tip of the South Downs National Park. It lies to the west of the A3(M), which links with the A27 to the south and M25 to the north. Rowlands railway station provides services to London Waterloo as well as Portsmouth.

The property lies in the village of Lovedean, which lies about 2 miles north of Waterlooville and is accessed via the A3 and Lovedean Lane. The property lies on the south side of Day Lane, which runs west from the Bird in Hand pub in a rural area.

Description

A largely rectangular shaped site totalling about 14.00 hectares (34.60 acres). Previously agricultural land the site is now arranged as a solar farm containing 18,500 solar panels with a combined capacity of 5.76MW. The site has the potential to power up to approximately 1,600 homes.

Planning

East Hampshire District Council (01730 234246) www.easthants.gov.uk

VAT
Please refer to Legal Documents
Property Table
UnitAreaTenancyRent
Total  £39,824.77 (1)
Lovedean Solar Farm14.00 hectares (34.60 acres)Let to Lightsource SPV 64 Ltd for a term of 25 years from 08/02/2013£39,824.77 (1)

(1) The rent is calculated at £6.50 per KW multiplied by the total installed capacity plus £1,260. The rent is reviewed annually on 25th March increasing by the rate of RPI for the previous year ending on 31st December.

EPC

No EPC required


*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,000 (exclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount of £4,500 from all bidders. This participation amount is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,500 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee of £1,000 inc. VAT payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.


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