Agents selling whole farms this summer have reported a healthy interest from a range of buyers with some sales far exceeding guide prices.
Here’s a snapshot of summer sales reported to Farmers Weekly this week.
Carkin Moor Farm
Location: East Layton, near Richmond, North Yorkshire
Description: A 186-acre dairy farm with buildings and two houses, sold due to retirement.
Guide price: £2m to £2.5m
Agent comment: Tom Watson, director at Cundalls: “The farm had strong interest, going to sealed bids, and completed this week for in excess of the top guide price.
The purchaser had farming interests but also non-farming businesses. The majority of bidders were farmer buyers and it sold very well due to being in a location whereby whole farms are very rare to the market.”
Hill Top Farm
Location: Appleby Magna, Leicestershire
Description: A ring-fenced 370-acre arable farm with 344 farmable acres of Grade 2 and Grade 3 land – some irrigated – with grain storage, further buildings, farmhouse and some long-term strategic investment potential.
Guide price: Offers in excess of £5.55m
Agent comment: Rupert Bendell, chartered surveyor at Wells McFarlane: “We had a really good level of interest with in excess of 50 calls and viewings, eventually selling the three lots to two buyers for a total of £7.3m.
It sold well in excess of what has been sold in this area recently, showing that farmland values are still strong despite a lot of negativity around commodity prices. It was a working farm and will continue to be so.”
Location: Clyst Hydon, East Devon
Description: A mixed farm with combinable crops alongside temporary and permanent grassland, and two apple orchards. In all, 178 acres with extensive traditional and modern buildings.
Guide price: £2.35m
Agent comment: George Alder, head of farm agency at Stags: “Farrantshayes has been run as a livestock and arable operation but could be suitable for dairy.
“A local farmer snapped up the bulk of the ground to extend his own holding, while the house was bought by a local family. The price paid was a shade under the guide price.”
Towy Valley Farm
Location: Near Llandovery, Carmarthenshire
Description: An upland farm with capacity for 3,000 breeding ewes, comprising 1,784 acres of predominantly Grade 4 and 5 hill grazing and 250 acres of grassland with 14 buildings and a proposed 2MW hydroelectricity scheme.
Guide price: £2.6m
Agent comment: James Prewett, Knight Frank’s head of regional sales and joint agent with Edward H Perkins: “Towy Valley was offered for the first time to the open market with vacant possession.
“Farmed to a high standard by the vendor using a large hefted flock, we had instructions to find a buyer that would continue this and maintain it as a complete unit.
“The buyer appears to have been attracted by the scale and the potential to develop additional income through developing the hydroelectricity scheme.”