LAND FORMING PART OF WEST YELLAND FARM, WEST YELLAND, BARNSTAPLE, DEVON, EX31 3HE

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1 Your Ref: Our Ref: MC/sap Date: 26 th January 2016 Dear Sir / Madam Taunton Office: Development Land & Planning 13 Hammet Street Taunton Somerset TA1 1RZ LAND FORMING PART OF WEST YELLAND FARM, WEST YELLAND, BARNSTAPLE, DEVON, EX31 3HE Greenslade Taylor Hunt is the sole agent and it is instructed to act for an on behalf of the Landowner, H A Welch (Yelland) Limited, and the Promoter, Welbeck Strategic Land LLP, in the marketing and sale of the land. The information pack together with the Submissions of Offers document will be sent to you shortly via Please find enclosed for your attention location and site plans. LOCATION The land is located betwixt the market town and port of Bideford (which is approximately 4.6 miles to the south) and the market town and port of Barnstaple (which is approximately 5 miles to the north east). Barnstaple is at the head of the Taw and Torridge Estuary, near the north coast of Devon. The town is the oldest borough in England and one of the oldest ports in the country. The town is the Regional Service Centre for North Devon, Torridge and Exmoor National Park and is the administrative centre and largest town within the district. It has a comprehensive range of educational, ecclesiastical, cultural, leisure/tourism and shopping facilities, including Park and Pilton Community Colleges, Petroc College, Rock Park and playing fields, North Devon Leisure Centre, Tarka Tennis Centre, Queen s Theatre, Butchers Row, Pannier Market, North Devon Museum, Barnstaple Library and Records Office, a square with clock tower and Green Lanes Shopping Centre. West Yelland has a basic range of facilities and amenities, including a garage. Instow (which is approximately 1.3 miles south west) has a beach with esplanade, the Commodore Hotel, restaurants and pubs, a convenience store and post office, cricket club, yacht club, parish church and village hall. Instow and the surrounding area is a sought after location with high property values for the area.

2 DISTANCES Instow 1.3 miles Barnstaple town centre 5 miles Bideford town centre 4.5 miles Exeter 46 miles Plymouth 60 miles Taunton 55 miles (distances approximate) COMMUNICATIONS Road The B3233 connects West Yelland to Bideford to the south and Fremington, Bickington and Barnstaple to the north east. In Barnstaple, the road connects to the A39/A361 via the A3125. The A361 links the North Devon peninsula with the M5 motorway at Junction 27, which is approximately 41 miles south east. Rail Barnstaple Railway Station is approximately 5 miles north east. It provides branch line services to Exeter St Davids and Exeter Central, which in turn have mainline services to London Paddington and Waterloo respectively. Bus There are regular bus services which run between Barnstaple and Bideford and are operated by First Devon & Cornwall and Stagecoach Devon. These operators provide frequent bus services with a 7 day a week service, including evenings and weekends, and during peak periods services at 8 10 minute intervals. There is a bus stop adjacent to the land. Air Exeter International Airport, approximately 52 miles south east, has scheduled and chartered flights to a range of national and international destinations. LAND The land abuts the built-up area of West Yelland. The village is a linear settlement which runs either side of the B3233 and forms part of the parish of Fremington. It is to the south of the Taw and Torridge Estuary, with outstanding views of the estuary and surrounding coast and countryside. The land abuts to the north the Tarka Trail (which is a former railway line, now a foot and cycle route between Bideford and Barnstaple and part of the South West Coastal Path and National Cycle Route 27); to the south the B3233; to the west the sports field and pitches for the former Yelland Power Station (which has been demolished) and agricultural land; and to the east further agricultural land. It is in a prominent roadside position and located within commutable distances of Bideford and Barnstaple and further afield. The land slopes gently from south to north and is currently used for the grazing of livestock. It has extensive road frontage and access onto the B3233. It extends to approximately acres (14.76 hectares).

3 PLANNING The outline planning application (Ref: 57663) dated 3 rd June 2014 was for a proposed residential development scheme of up to 135 no. dwelling houses, together with associated infrastructure and other associated works, including a new junction with access onto the B3233, public open space, landscaping and allotments. All matters, with the exception of access, are reserved. North Devon District Council did not determine the outline planning application. Welbeck Strategic Land LLP lodged an appeal against non-determination. The Planning Inspectorate allowed the appeal and granted outline planning permission dated 9 th October The outline planning permission is subject to seven conditions. The Judicial Review challenge period expired on 20 th November The Section 106 Agreement dated 7 th August 2015 contains a number of financial and nonfinancial contributions. These contributions are set out in the table below:- S.106 CONTRIBUTIONS TIMING OF PAYMENT 35% affordable housing, including 75% social rented and 25% intermediate / affordable rented Allotments Education - Fremington County Primary School (additional teaching provision) Education Pilton Community College (additional teaching provision) Education - Pilton Community College (transport) Healthcare - Fremington Medical Centre (improvements) Highways Works 249, , , , No more than 45% of the open market dwellings are to be occupied prior to the affordable housing being provided on site and being available for occupation. Transfer at nil cost to the Parish Council Management Company prior to occupation of 90% of the dwellings. 50% payable prior to 10% of the dwellings being occupied and 50% payable prior to 50% of the dwellings being occupied. Subject to BCIS 50% payable prior to 10% of the dwellings being occupied and 50% payable prior to 50% of the dwellings being occupied. Subject to BCIS 50% payable prior to 10% of the dwellings being occupied and 50% payable prior to 50% of the dwellings being occupied. Subject to BCIS 20,000 payable prior to 25% of the dwellings being occupied and 75% payable prior to 50% of the dwellings being occupied. Subject to BCIS 2no. bus stops and pedestrian crossing on the B3233. Prior to commencement of development to enter into a s.38 / s.278 Agreement to undertake the highway works.

4 Landscape & Ecological Management Plan (including LEAP, SUDS) Management Company Off-site Highway Works(at Cedar roundabout and Old 181, Torrington Road) Off-site Public Open Space 47, Locally Equipped Area of Play sq m and 5no. pieces of equipment. For On-site Public Open Space. No dwelling being occupied until the Management Company has been set up. 100% payable prior to commencement of development. Subject to BCIS indexation - (Building Costs All Tender Price 25% payable on commencement of development, 50% payable prior to occupation of 50% of the dwellings and 25% payable prior to occupation of 75% of the dwellings. Subject to RPI indexation. On-site Public Open Space Transfer at nil cost to the Management Company prior to occupation of 90% of the dwellings. Travel Voucher/ Pack / Plan 40, Monitoring Fee A contribution towards the Council s monitoring of the agreement. TOTAL 853, LOCAL AUTHORITY North Devon Council Civic Centre North Walk Barnstaple Devon EX31 1EA T: (01271) E: planning@northdevon.gov.uk W: TENURE AND POSSESSION H A Welch (Yelland) Limited (the Landowner) own the freehold. This has been registered with the Land Registry under Title No. DN The Landowner and Welbeck Strategic Land LLP (the Promoter) entered into a Promotion Agreement dated 7 th December 2010, in order to procure an outline planning permission for residential development on the land and to subsequently dispose of the land in the open market. The Landowner and Grazier entered into a Grazing Licence and it expires on 1 st February 2016.

5 METHOD OF SALE We are offering the freehold for sale by informal tender with vacant possession on completion. GUIDE PRICE Offers invited. Offers are invited based upon:- 1. an unconditional sale with outline planning permission; and /or 2. a conditional sale, conditional on the grant of reserved matters. In both instances we will consider lump sum payments and deferred payments. Please note that our clients preference is for an unconditional sale and a lump sum payment. OVERAGE We are seeking an overage in relation to the following: 1. a sum in excess of an agreed Gross Development Value; 2. Onward sale of the land to a third party; 3. A change of use: 4. Increased unit numbers; and 5. A reduction in affordable housing percentage or change of mix or reduction of other Section 106 Agreement contributions. Our clients preference is for an overage, but will consider alternative overage proposals to those set out above. VALUE ADDED TAX The Landowner will be opting to tax and, therefore, VAT will be payable in addition to the purchase price. RIGHTS OF WAY, WAYLEAVES AND EASEMENTS The sale is subject to all rights of support, public and private rights of way, water, light, drainage and other easements, quasi-easements, all or any other like rights, whether mentioned in these particulars or not. RIGHTS & RESERVATIONS The Landowner reserves the following rights:- 1. A right of access (for all purposes for all times) across the land, subject of the outline planning permission, to its retained land as shown on the site plan contained within the information pack;

6 2. A right of access (for agricultural purposes) across the land and through the woodland, subject of the outline planning permission, to its retained land to the east as numbered 17 on the site plan contained within the information pack; 3.,A right to connect into, upgrade, and maintain and repair the internal access across the land, subject to the outline planning permission, for any future development of its retained land. This includes, for the avoidance of doubt, upgrading the junction with the B3233 to a roundabout (if required) post completion of the Purchaser s development scheme; 4. A right to connect into, upgrade and maintain and repair internal services across the land, subject to the outline planning permission, for future development of its retained land; and 5. 1 metre ransom strips between points A to B and points C to D, D to E and C to F, as shown on the site plan contained within the information pack. The Purchaser confirms that it will:- 1. Construct the junction with the B3233 and internal roads to an adoptable standard and that the junction and internal roads will be adopted by the Local Highway Authority; 2. Construct the internal services to an adoptable standard and these will be adopted by the relevant statutory utility providers; 3. Construct roads and services up to the boundary with retained land as shown on the Site plan contained within the Information pack. It will not ransom the retained land by retaining land between the internal roads and boundary; and 4. Erect within 30 working days of completion, a stock proof fence along the boundary between the land and the retained land. The location and specification of the stock proof fence will be agreed between the Landowner and Purchaser prior to exchange of contracts. The Landowner will provide the Purchaser with temporary access to its retained land during construction, in order to carry out works which are required as part of the outline planning permission and Section 106 Agreement to development the land for residential development, including by way of example, the implementation of the Heron Mitigation Strategy. SERVICES All mains services are available near or on the land. All interested parties should make their own enquiries of the statutory utility providers. ADDITIONAL INFORMATION The information pack together with the Submissions of Offers document will be sent to you shortly via The pack includes the following:- Location, site and aerial plans; Land Registry title and plan; Site plan showing the points of access to the retained land and ransom strips; Grazing Licence; Planning application and supporting technical surveys and reports; Planning committee report; Appeal decision; Section 106 Agreement; Utility replies to enquiries; and Terms and Conditions for Submission of Offers.

7 SUBMISSION OF OFFERS The deadline for Submission of Offers is no later than 12 noon on Thursday, 10 th March The terms and conditions for Submission of Offers are set out in the information pack. APPOINTMENT TO VIEW All viewings are strictly by appointment with Greenslade Taylor Hunt s Land & Planning department. If you would like to make an appointment to view the land, or would like to discuss the contents of the information pack or Submission of Offers document, please do not hesitate to contact me on (01823) / mark.chugg@gth.net. I look forward to hearing from you. Yours faithfully Mark Chugg BSc (Hons) MSc MRICS Development Surveyor Associate E mail : mark.chugg@gth.net T 44 (0) F 44 (0) M 44 (0) Enc Information pack (to follow via Location & site plans Important Notice Greenslade Taylor Hunt, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Greenslade Taylor Hunt has not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. 3. We have not made any investigations into the existence or otherwise of any issues concerning pollution of land, air or water contamination and the purchaser is responsible for making his own enquiries in this regard.