Land for sale

Terregles Road, Terregles, Dumfries DG2

An opportunity has arisen to acquire an area of land on Terregles Road, less than a mile from Dumfries.

The plot is situated in a rural location between adjacent residential properties in a prime location on the outskirts of Dumfries. It is close to a wide range of amenities, including retail and leisure facilities, Dumfries & Galloway Royal Infirmary, schools and commuter links.

There is currently no planning permission with the land. The land will therefore be sold subject to any purchaser entering into a clawback agreement and granting to the seller a Standard Security to secure the clawback.

The clawback agreement will be to the effect that, in the event of the land being sold in the future (during an agreed period of 20 years) for use other than agriculture (for example, with planning permission for anything other than its' current use), then the Seller would benefit from 50% of the uplift. The value of the uplift would be calculated on the difference in the price of the land at the time of purchase, and the value of the land when later sold with the benefit of planning permission. Deducted from that would be any costs which the purchaser has expended in gaining planning permission.

For further information, please contact JHS LAW on .

Property Description

An opportunity has arisen to acquire an area of land on Terregles Road, less than a mile from Dumfries.

The plot is situated in a rural location between adjacent residential properties in a prime location on the outskirts of Dumfries. It is close to a wide range of amenities, including retail and leisure facilities, Dumfries & Galloway Royal Infirmary, schools and commuter links.

There is currently no planning permission with the land. The land will therefore be sold subject to any purchaser entering into a clawback agreement and granting to the seller a Standard Security to secure the clawback.

The clawback agreement will be to the effect that, in the event of the land being sold in the future (during an agreed period of 20 years) for use other than agriculture (for example, with planning permission for anything other than its' current use), then the Seller would benefit from 50% of the uplift. The value of the uplift would be calculated on the difference in the price of the land at the time of purchase, and the value of the land when later sold with the benefit of planning permission. Deducted from that would be any costs which the purchaser has expended in gaining planning permission.

For further information, please contact JHS LAW on .