Low voltage wayleave agreement

lmsco

Wondering if the above might have any adverse effect on future property sale? Is it something I'd need to actually highlight if selling or would it just come up in searches etc?  Are prospective purchasers likely to be bothered by underground cables in the same way that some are by pylons? 
I don't want to sign the agreement if it is likely to cause issues to any future sale. There is nothing visible on the property, tho there is an electricity sub station nearby.
As an aside, would the payment of £150 be classed as taxable income? 
Thanks in advance.

davidmcn

I expect it will be any restriction on future development which will be the main issue (though if it's merely a wayleave I presume it includes provisions allowing you to tell them you need the cables shifted?). Wayleaves aren't registered so not likely to come up in searches, there'll be a relevant question on the property info form which is where you'd be disclosing it to buyers.

A one-off payment is I guess treated as capital rather than income - in either case I expect it falls well within the relevant allowances.

lmsco

davidmcn said:

I expect it will be any restriction on future development which will be the main issue (though if it's merely a wayleave I presume it includes provisions allowing you to tell them you need the cables shifted?). Wayleaves aren't registered so not likely to come up in searches, there'll be a relevant question on the property info form which is where you'd be disclosing it to buyers.

A one-off payment is I guess treated as capital rather than income - in either case I expect it falls well within the relevant allowances.

Thanks David. It's a small plot so not much chance of adding extensions etc. For the sake of £150 I may just decline the agreement then it won't need mentioned at all. Saves muddying any waters.

Blaxton

I've got wires going through my property to a sub-station at the back and they're not buried as deep as I expected - I hit them occasionally when gardening. If they're under a lawn that's probably okay, but if you wanted to plant vegetables they would be a pain. Isn't it an annual rent rather than a fee? 

lmsco

Blaxton said:

I've got wires going through my property to a sub-station at the back and they're not buried as deep as I expected - I hit them occasionally when gardening. If they're under a lawn that's probably okay, but if you wanted to plant vegetables they would be a pain. Isn't it an annual rent rather than a fee? 

Yes, it's £15pa for 10 years paid as one payment.