More than 1,000 acres of good arable land on the well-known Raynham Estate in Norfolk is on the market subject to a follow-on Farm Business Tenancy or contract farming agreement of at least five years.

Selling agent Savills has put a guide price of £7.9m on the 405ha (1,002 acres) of grade 3 bare arable land, which is being sold by estate trustees to release funds to invest elsewhere in the estate.

The estate, near Fakenham, is still in the family of famous agricultural innovator ‘Turnip’ Townshend, who played a leading part in the British agricultural revolution and was the pioneer of the Norfolk four course rotation.

Wheat, barley, oilseed rape, peas and sugar beet have been the main crops grown on the land in recent years.

The land was an ideal investment opportunity, said Christopher Miles of Savills.

“We want to get the best price and secure the farming for as long as possible. The estate is very well kitted-out,” he said. Draft FBT and CFA agreements have been drawn up, but alternative arrangements to those set out may be arrived at by negotiation. (Savills 01603 229235)