Farm Lane, Ashtead, Surrey, KT21

Farm Lane

new instruction

  • Reference Number rps_was-WTR190004
  • Agent White & Sons Rural & Agricultural Land
  • Agent Number 01883 723680

Offers in the region of £210,000

About this property

Opportunity to acquire a protected agricultural tenancy on a Horticultural Nursery on the retirement of the current Tenant.

FARM LANE NURSERY
FARM LANE, ASHTEAD, SURREY, KT21 1LY

Offers in the region of £210,000 to include
all fixtures but to exclude Nursery stock
which will be subject to valuation on completion

Large gravel car park (Tenant's).
Timber Shed: 20' x 10' used as the shop (Tenant's).
Hancock Glass House: 114' x 56' is a Landlord's building with manual ventilation. No irrigation. Oil fired heating is a Tenant's fixture.
Unique Venlow Glass House: 96' x 52'6", Tenant's improvement (manual ventilation and oil fired heating).
Lean-to timber and corrugated storage shed includes brick wc. The brick section incorporating the wc was the Landlord's but the rest of the building is a Tenan
Polytunnel: 96' x 26', (Tenant's improvement).
Two shade tunnels, both 65' x 14' each (Tenant's improvement).
Large outside retail display area, paving and matting are all Tenant's fixtures.
Services: electricity, telephone, sewage and security are all Tenant's fixtures.

Commentary on The Agricultural Tenancy:
The original Tenancy Agreement was dated 18th December 1979 and was granted by the Mayor and Commonalty and Citizens of the City of London (the Corporation of London) and Mr Alan McCrae and was subsequently assigned to the current Tenant.

The Tenancy now runs as a year to year periodic tenancy with an anniversary date of the 29th September and is protected by the Agricultural Holdings Act 1986. This means that the Landlord cannot serve a common law notice to quit and must rely on one of the limited statutory grounds under the Agricultural Holdings Act.

The current rent is £3,800 per annum paid quarterly on the usual quarter days. Future rent reviews will be regulated by the Act.

Clause 2(17) states: "the Tenant may not use or suffer to be used the Premises otherwise than as a Nursery Garden Centre only which for the avoidance of doubt should include the right to sell from the Premises such produce as is grown upon the Premises". Applicants should be aware that hitherto the Landlords have been reluctant to agree an expansion of this user clause.

Clause 2(19) will not at any time during the term by any ways or means whatsoever (except by testamentary disposition) assign or part with the possession of the premises or any part thereof or any interest therein for all or any part of the term except by way of an assignment of the whole of the premises and then only with the licence in writing from the Committee to be evidenced by the signature of the Chamberlain and Controller and City Solicitor first obtained and paying the reasonable costs of the Controller and City Solicitor thereof but so that a licence for an assignment of the whole of the whole of the premises to a respectable and responsible person should not be unreasonably arbitrarily withheld." The effect of this clause that the Landlord may not unreasonably withhold permission for an assignment to a suitable tenant. It means that the current tenant may apply for permission to assign the Tenancy to a suitable applicant. In the future a purchaser of the Tenancy will be able to assign the tenancy on the same terms.

Under clause 4.5 of a Deed of Variation dated 3rd April 2006 the walls of the walled garden are scheduled redundant.

Financial:
Turnover in 2017 was £125,000 and in 2018 was £113,000. Gross profit in 2017 was £84,120 and in 2018 was £74,907.

Planning:
A Certificate of Lawful Use or Development was granted by Mole Valley District Council on 25th November 2016 to enable the sale of brought-in goods. This does not constitute consent from the Landlord to a variation of clause 2(17) although existing levels of brought-in produce have been established for many years without complaint or action by the Landlord.

Information Pack:
Applicants may request from the Agents a full Information Pack including a copy of the Tenancy Agreement and other relevant documents.

Directions:

Viewings:
By appointment only through the Agents. Contact: Jack Meyer
Telephone: 01883 723680 jack.meyer@whiteandsons.co.uk

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Address

39-41 Station Road East Oxted Surrey RH8 0BD

Telephone

01883 723680

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