One of the biggest chunks of prime Essex arable farmland to
reach the market for several years is being launched by
Strutt and Parker later this
month.
Essex Farms extends to 4000 acres of mainly Grade 2 boulder clay
land in three blocks between Bishop’s Stortford, Braintree and
Chelmsford and is likely to attract buyers wishing to invest in
arable land for its commercial, rather than amenity, appeal.
Previously owned by the
London Co-Operative
Societies, Essex Farms have passed through the hands of pension
funds and were now owned by a charitable trust.
'Uncomplicated opportunity'
Strutt and Parker’s James Laing reckoned they were likely to sell
as a whole.
“At a time when there has never been so much interest and demand
for arable land, this represents an excellent opportunity for
either an individual investor or a fund to buy a no-nonsense block
of highly productive arable farmland."
These farms provided an excellent opportunity for buyers wishing to
acquire an “uncomplicated” commercial arable opportunity, Mr Laing
said.
'Prime area'
“This is in the prime area for wheat production in Essex.”
It was likely to attract competition from arable farmers looking to
move or expand and any buyer not looking for amenity, residential
or sporting value alone.
Mr Laing predicted “enormous” interest from overseas buyers,
particularly from Denmark and Ireland.
Well-maintained
Mr Laing has set a guide price for Essex Farms of £30m for the
whole. The farms would be offered individually but would not be
subdivided any further.
“In the past it has always sold as a whole,” he said.
Stebbing Farms, near Dunmow, is the biggest of the three units at
2119 acres with some well-maintained general-purpose farm
buildings, 5000t of grain storage and drying facilities and two
houses.
Reservoir
Berners Hall Farm near Ongar includes nearly 1700 acres of Grade 2
Stretham and Hanslope soil with 7500t of mostly on-floor grain
storage.
Cropping has been based around wheat with oilseed rape and peas but
the farm has grown potatoes and has a 60m gallon reservoir.
There are two farmhouses and five cottages.
Paslow Hall Farm is just over 800 acres of grade 2 and grade 3
soils with some general purpose buildings.
Mr Laing said he expected the land to achieve around £5000/
acre.
