Teuchan Myres

Teuchan Myres, Cruden Bay, Peterhead, AB42 0PN

Asking Price £200,000

DESCRIPTIONTeuchan Myres extends to approximately 24.26 hectares (59.95 acres). The land is predominantly planted with Sitka spruce dating to 2000 and is anticipated to be harvestable in approximately 15 years with a high yield class and good growth indicating a high volume available for future felling. There are no crop records available for Teuchan Myres.LOCATIONTeuchan Myres is situated in the county of Aberdeenshire approximately six miles south of Peterhead, 22 miles south of Fraserburgh and 26 miles north of Aberdeen. The land benefits from good transport links being adjacent to the A90.ACCESSAccess is from the unclassified public road (running from the A90) and along a private access track over which there is a servitude right of access (highlighted in yellow on the sales plan).VIEWINGStrictly by appointment with the sole selling agents –Galbraith, 337 North Deeside Road, Cults, Aberdeen, AB15 9SN. Tel: 01224 860710. Fax: 01224 869023. Email: aberdeen@galbraithgroup.comDIRECTIONSTravelling north on the A90, six miles after Toll of Birness turn left at the signpost marked Waterside. Continue for ¾ of a mile and turn right at the driveway sign marked South Teuchan. Follow this track for approximately 300 yards and the boundary of the sale subjects is directly in front.Travelling south on the A90, 1½ miles after the Howe o’ Buchan roundabout at Peterhead turn right at the signpost marked Upperton Industrial Estate. Continue for four miles and turn left at the driveway sign marked South Teuchan. Follow this track for approximately 300 yards and the boundary of the sale subjects is directly in front.GENERAL INFORMATIONLOCAL AUTHORITY Aberdeenshire Council, Woodhill House, Westburn Road, Aberdeen, AB16 5GB. Telephone: 03456 08 12 08.SCOTTISH FORESTRYScottish Grampian Conservancy, Ordiquhill Portsoy Road, Huntly, AB54 4SJ. Telephone: 01466 794 542.METHOD OF SALEFor sale as a Whole.TAXATIONAt present, all revenue from timber sales is exempt from Income and Corporation Tax. Additionally, there is no Capital Gains Tax on growing timber although there may be a liability on the land. Under the current Inheritance Tax regime, 100% Business Property Relief should be available on commercial woodlands. VAT is charged on forestry work and timber sales, although its effect is neutral if managed as a business. Government grants are received tax-free with the exception of farm woodland and subsidy payments.WOODLAND GRANTSThere are no grant schemes in place and no transfer of obligation required.SPORTINGSThe sporting rights are included in the sale, insofar as they are owned. MINERALSThe Mineral Rights are included in the sale, insofar as they are owned.TIMBERAll fallen and standing timber is included in the sale, insofar as they are owned.POSSESSION AND ENTRYVacant possession and entry will be given on completion or such mutual time to be agreed by the seller and the purchaser.DEPOSITA deposit of 10% of the purchase price shall be paid within seven days of the completion of Missives. The deposit will be non-refundable in the event of the purchaser(s) failing to pay the purchase price or failing to complete for reasons not attributable to the seller of the seller’s agents.HEALTH & SAFETYThe property is a commercial forestry holding and appropriate caution should be exercised at all times during inspection, particularly in reference to forestry operations that may be ongoing.MORTGAGE FINANCEGalbraith are approved agents for the Agricultural Mortgage Corporation (AMC) and we can assist you in securing finance loans for a variety of farming purposes including the purchase of land and property, facilitate and reschedule debt, and to provide working capital for diverse creation, and improving on erected farm buildings. For further details and to discuss any proposals in connection please contact Robert Taylor on 07585 901 847. Email: robert.taylor@galbraithgroup.comCLOSING DATEA closing date may be fixed. Prospective purchasers who have noted their interest through lawyers to Galbraith, in writing, will be advised of a closing date, unless the property has been sold previously. The Seller will not be obliged to accept the highest, or indeed any offer, and has the right to accept an offer at any time or withdraw the property from the market. The Seller will not be liable for any costs incurred by interested parties.OFFERSFormal offers in the acceptable Scottish form should be submitted, through a Scottish Lawyer, to Galbraith, 337 North Deeside Road, Cults, Aberdeen, AB15 9SN. ANTI MONEY LAUNDERING (AML) REGULATIONSPlease note that under the 2017 AML regulations we are legally required to carry out money laundering checks against purchasers. To enable us to complete these checks purchasers will need to provide along with their offer either:a) originals of primary (eg a passport) and secondary (eg current council tax or utility bill) ID; orb) copies of such primary and secondary ID certified and dated by the purchasers’ solicitors as true copies along with written confirmation from the purchasers’ solicitors that they accept that we will be relying on this copy ID for AML purposes.Failure to provide this information may result in an offer not being considered.THIRD PARTY RIGHTS AND SERVITUDESThe subjects are sold together with, and subject to, all existing rights of way, servitudes, wayleaves and others whether contained in the Title Deeds or otherwise, and purchasers will be deemed to have satisfied themselves in all respects thereof. The property is also sold subject to the rights of public access under the Land Reform (Scotland) Act 2003. In addition we understand there is a wayleave agreement in favour of Scottish & Southern Energy where electricity poles crossing the land.IMPORTANT NOTESThese particulars are intended to give a fair and overall description of the property. If any points are relevant to your interest, please ask for further information, prior to viewing. Prospective purchasers are advised to seek their own professional advice.Areas, measurements and distances are given as a guide. Photographs depict only certain parts of the property. Nothing within the particulars shall be deemed to be a statement as to the structural condition, nor guarantee the working order of services and appliances.These particulars shall not be binding on our clients whether acted on or otherwise, unless the same is incorporated within a written document, signed by our clients or on their behalf, satisfying the requirements of Section 3 of The Requirements of Writing (Scotland) Act 1995.Particulars were prepared and photographs taken in March 2020.