RISELEY NURSERIES AND THE PLANT CENTRE

WITH LARGE ATTRACTIVE 4 BED BUNGALOW

GOODSTONE, BICKINGTON NEWTON ABBOT, DEVON TQ12 6LJ

FREEHOLD FOR SALE

Fronting the A38 slip road the site and buildings could have fantastic visibility to this major trunk road.

In addition to the trading nursery and plant centre there is a further 10.77 acres of land with part having extensive frontage to the A38 which could be used for plant growing, PYO and or soft leisure. The tied dwelling is also being offered for sale separately if required.

There is also a 2nd nursery area one field away that has the potential for re-development subject to planning and this is available either as part of the whole or a separate sale could be considered.

This is a great opportunity to build a successful business and to live and work on site in this beautiful part of South West England

Bartholomew House, 38 London Road, Newbury, Berkshire, RG14 1JX Fax: (01635) 551440 e-mail: sales@quintons.co.uk www.quintonedwards.co.uk

LOCATION - Riseley Nursery and Plant Centre is very well located, fronting the A38, four miles west of Newton Abbot and one and a half miles north-east of Ashburton. The towns of Torquay, Totnes and Exeter are all within easy reach. SITUATION - The nursery is situated fronting the old A38 slip road where it joins the new A38 trunk road from the edge of the hamlet of Goodstone in open countryside. Access from the north is off the A38 at the Drumbridge roundabout and from the south via the A383. THE SITE - The nursery and plant centre site has a 143 metre frontage to the A38 slip road and a 23 metre frontage to the lane. A site plan is shown with the site boundaries edged red and we estimate the site extends to 0.654 hectares (1.615 acres). Opposite is a large field, site boundaries marked green, with a small old orchard in the southern corner which benefits from163 metre frontage to the A38 and a 94 metre frontage to the lane and extends to 1.409 hectares (3.482 acres) plus two further fields circa 2.949 hectares (7.288 acres). The third site with boundary edged yellow, is an unused nursery with planning potential which has a 92 metre frontage to the lane and extends to 0.284 hectares (0.702 acres) There is also the opportunity to purchase the tied dwelling separately if required, area edged in blue, and the site area extends to circa 0.344 hectares (0.85 acres). DESCRIPTION - Access is off the slip road to the A38 onto a country land and immediately left into the tarmacadam and gravel car park offering approximately 15 spaces. To the side of the car park running up the northern boundary is a tarmacadam drive giving access to the warehouse and potting shed and to the residential dwelling to the rear. To the rear of the car park are two glasshouses. Glasshouse 1 is a three bay Dutch Venlo glasshouse constructed in 2009, 3.7 metres to the gutter which widens to 6 bays to the rear of the warehouse and potting area. The glasshouse benefits from full roller benching, shade netting, irrigation and heating and is fully computerised. To the side is the warehouse/potting area, constructed on a wooden frame with plastic coated profile metal cladding to walls and sloping roofs with loading doors to the front, allowing a lorry to reverse into the building with concrete floor and with a cold store that holds 8 Danish containers.

Outside there is access into Glasshouse 2, an Edward Owen single bay glasshouse, constructed in 1972, 2.2 metres to the gutter. The front half benefits from a concrete floor being fully benched, half static half roller. There is a middle Mypex section used as a work area and the rear area is used for the growing of table tops strawberries. To the rear is a large modern bungalow, rendered and painted under pitched tiled roof, benefitting from a double integral garage. There is a large parking area in the front drive, and a slabbed patio giving access through the door into the front hall. On the right is a large living room with doors to the patio. To the rear is the dining room and then a double bedroom. There is then the master bedroom with an ensuite shower room with double shower, wash-hand basin and WC. Opposite is the family bathroom with bath with shower attachment, wash-hand basin and WC. To the left of the hall, there is access into a large kitchen/breakfast room with tiled floor, one and a half sinks and drainer being fully fitted. Then there is access into a utility room with stainless steel sink and drainer, where there is a back door to the garden, off which there is a third double bedroom. There is also access to a lobby, with door to the front drive and to a cloakroom, off which there is access into the double garage within which a partitioned office has been constructed. To the rear and to the side of the house is a large open well fenced garden with good views, within which is a large wooden shed. Opposite on the other side of the lane is a large, gently sloping field, well fenced hedge, generally laid to grass with a small old orchard in the southern corner. There is a further 7.288 acres of land adjoining the first field which are also available if required. One field away from the nursery and plant centre on the same side of the lane is a former nursery within the same ownership which comprises a small single bay glasshouse with concrete and slabbed floor, a tarmacadam yard, a two bay Solspan glasshouse with concrete and slab floor, a polytunnel and then a three bay Havant glasshouse with concrete and slab floor which has suffered some snow damage.

ACCOMMODATION - We have measured the premises in accordance with the Code of Measuring Practice published by The Royal Institution of Chartered Surveyors and the floor areas are as follows measured gross internal:- Plant Centre And Nursery 1. Glasshouse 1 883.2 sq.m. 9507 sq.ft. 2. Glasshouse 2 598.5 sq.m. 6442 sq.ft. 3. Warehouse/Potting Shed 95.4 sq.m. 1027 sq.ft. Total Glass 1481.7 sq.m. 15950 sq.ft.

Bungalow 1. Access into the Hall 3.35 x 2.6 m plus 2.5 x 1.0 m 11.2 sq.m. 2. To the side and to the front is

the sitting room 5 x 5.4 m 27 sq.m.

3. To the rear – dining room or Bedroom 4

4.0 x 3.0 m 12.0 sq.m.

4. To the rear – Bedroom 3 2.85 x 4.0 m 11.4 sq.m. 5. To the rear – Master Bedroom

Off which is 5.1 x 4.5 m 19.4 sq.m.

6. En-suite shower room 3.0 x 1.2 m 3.6 sq.m. 7. Off the Hall is Family

Bathroom 2.5 x 2.0 m 5.0 sq.m.

8. Left of the Hall – Kitchen and Breakfast Room

3.58 x 3.35 m plus 3.08 x 2.6 m 20.0 sq.m.

9. Off Kitchen – Utility Room 3.8 x 3.6 m 13.7 sq.m. 10 Bedroom 2 3.8 x 3.8 m 14.4 sq.m. 11. From the Utility room, there is

access into a lobby 1.4 x 2.98 m 4.2 sq.m.

12. Off which is the Cloakroom 1.4 x 2.0 m 28.0 sq.m. 13. Also off the Porch is access to

Double Garage 5.43 x 5.95 m 32.3 sq.m.

The Unused Nursery 1. Single Bay Glasshosue 106.9 sq.m. 1150 sq.ft. 2. Two Bay Glasshouse 236.8 sq.m. 2550 sq.ft. 3. Polytunnel 244.3 sq.m. 2630 sq.ft. 4. 3 Bay Glasshouse 893.2 sq.m. 9614 sq.ft. Total Growing Structures 1481.2 sq.m. 15944 sq.ft. SERVICES Main Nursery This is connected to mains electricity supplies three phase and to the mains water supplies. There is an above ground metal reservoir of 12,000 gallons and both the glasshouses are fully irrigated either by drip irrigation or by capillary matting on the roller benching. Both glasshouses benefit from oil fired Powermatic boilers with blow heaters and there is a 1,000 gallon oil tank outside the warehouse. There are thermal screens throughout Glasshouse 1 and in the front half of Glasshouse 2. Glasshouses are controlled by a TomTech HC80 with 16 compartments offering full environmental control. There are no WC’s on the nursery. Staff using WC access via the porch in the bungalow. Unused Nursery The unused nursery benefits from mains electricity three phase, mains water supplies, a 21,000 gallon above water tank with irrigation and heating.

RATING ASSESSMENT The nursery and plant centre is currently unassessed for rates. House Band: C Rates Payable: £1,561.47 (2017/2018) TOWN PLANNING The horticultural structures have benefit of town planning consent for their erection but they have no form of retail consent but are able to sell plants grown on site to the public via the farm gate. In addition, the law allows non green products to be sold to a total of circa 10.0% of turnover. These goods being those needed by the purchaser of a plant to look after a plant and, thus, they could be chemicals, fertilisers, composts, tools, pots, seeds, bulbs, etc. We have had sight of a planning consent dated 15th October 2001 for the bungalow. Condition 8 states that the occupation of the dwelling shall be limited to a person solely or mainly working or last working in the locality in agricultural or in forestry, or a widower or widow of such a person and to any resident dependents. THE BUSINESS The current owner’s father came on to this site in 1964 and up until recently had been growing a wide variety of plants purely for wholesale to local shops, garden centres, one hotel and other customers. Two years ago retail sales were started and this is growing rapidly. The nursery grows mainly bedding plants, hanging baskets with some shrubs such as Hydrangeas and strawberry plants. In the winter they grow primroses, cyclamens, pansies, violas, wall flowers and panolas. At the present time, 75.0% of the turnover is wholesale and 25.0% retail. Unfortunately, the owner has recently gone through a protracted divorce which is why the turnover and profitability has been dropping and this is the reason for his decision to sell. We have had sight of Financial Statements for Riseley Nurseries for the years ending 31st October 2011-2014 and the relevant information is set out below, the accounts for 2015 are not yet available.

2011 2012 2013 2014 2015 Turnover £60,348 £52,202 £49,616 £36,775 £34,906 Gross Margin 50.6% 49.1% 48.6% 63.0% 58.9% Operating Profit*

£8,430 £2,786 £5,546 £5,926 £6,145

Operating Profit %

14.0% 5.3% 11.2% 16.1% 17.6%

Net Profit £3,647 (£1,188) £2,426 £3,335 £5,279 Net Profit % 6.0% - 4.9% 9.1% 15.1% Wages 1.3% - - 3.5% 3.1% Marketing 0.7% 0.6% 0.7% 0.3% - * The definition of operating profit in this instance is trading profit before tax, director’s costs, interest charges, depreciation and other extraordinary costs. This gives an indication of the revenue stream that a

potential purchaser can hope to achieve prior to his own expenses and the finance required making the purchase. In 2011, the business turned over in excess of £60,000 with a gross margin of 50.6%. This steadily dropped to £50,000 with a gross margin of 48.6% in 2013 but in 2014 although the turnover dropped just under £37,000, the gross margin increased to 63.0% due to the sharp increase in retail sales. In 2015 turnover dropped slightly to just under £35,000, gross margin at 58.9%. Wages are virtually non-existent with the owner working on his own and marketing is also very low. The operating profit was a high of £8,430 (14.0%) in 2011, dropping in 2012 and 2013 due to the poor weather that affected mainly retail based businesses throughout the UK, increasing back to £5,926 (16.1%) in 2014, even though the turnover had dropped substantially, and increasing again in 2015 to £6,145 17.6%. GENERAL REMARKS/COMMENTS APPERTAINING TO VALUE Riseley Nursery has an excellent frontage to the A38 with signage visible therefrom but being completely hidden by mature hedging and trees which can and should be removed. There is substantial potential, not only to build the business back to previous levels but to many times higher by steadily moving to retail sales, to bringing in non-green goods and to utilising the field opposite for overspill car parking at busy times of the year and for open ground growing and/or pick your own/soft leisure. The owner’s wish to sell the nursery and front field but are also prepared to sell the further land and disused nursery if required. There is also the opportunity to purchase the tied house separately if required. There is thus the opportunity for a family to live and work in the beautiful county of Devon and to build a successful and profitable business, growing and retailing plants and sundries.

PROPOSALS – The property is available as a whole or with various options as laid out below:- Proposal 1 The Whole Property - for the freehold interest of the land, infrastructure, buildings and trading potential, tied bungalow and the land the asking price is £675,000 plus stock and moveable plant and machinery at valuation. Proposal 2 - For the freehold interest of the land, infrastructure, buildings and trading potential, tied bungalow and front field offers are sought in the region of £530,000 plus stock and moveable plant and machinery at valuation Proposal 3 – For the nursery and bungalow without the adjacent field we are seeking offers in the region of £490,000 plus stock and plant and machinery at valuation. Proposal 4 – The tied house alone as shown in the plan on page 2 with the area marked blue, we are seeking offers in the region of £399,950. Proposal 5 – For the freehold of the disused nursery with the potential of planning permission, offers are invited. STOCK/PLANT AND MACHINERY - A detailed list can be made available to seriously interested parties.

STAFF - A staff list can be made available to seriously interested parties.

FINANCE - In addition to our property services we have extensive experience in raising money for individuals and businesses. We use a network of first class lending agencies and we can arrange term loans and overdraft facilities.

We have no ties with any bank or other lender and we always act for you, not the bank.

If you want an independent, no obligation, appraisal of your requirements please call Simon Quinton Smith on 01635 262520 or 07785 732460.

LEGAL COSTS - Each party to pay their own legal costs. VIEWING - Strictly by appointment through agents:- Quinton Edwards Bartholomew House, 38 London Road, NEWBURY, Berkshire. RG14 1JX TEL: 01635 551441 FAX: 01635 551440

*Subject to Contract *All Figures Quoted are Exclusive of VAT *All Measurements Are Approximate 16th October 2017

Misrepresentation Act This information and the descriptions and measurements herein do not form part of any contract and whilst every effort has been made to ensure accuracy, this cannot be guaranteed