24 July 2002

Broken-up Nordelph starting to move out

FOR the 22,000 acres looking for buyers in the east of England, it can only be encouraging that the ill-fated marketing of the Nordelph Farms Estate is finally starting to bear fruit.

Response to AKCs recent closing date for its 2465 acres of grade 1 silts, with 11 dwellings and modern crop storage near Downham Market on the Cambs/Norfolk border, indicates that the market is still there – but the estate is being broken up.

Early signals are that about 600 acres are in the process of changing hands, and AKC is negotiating with a number of parties on the rest. Offers came from a mix of farmers and investors, the presence of whom has been boosted by the dire state of the stock market.

Nordelphs first sale fell through early in 2001 when the buyer, allegedly backed by US-based funding, failed to come up with the money. A second buyer pulled out in the wake of the Sept 11 terrorist attack on New York.

The property was relaunched in May with an extra 878 acres and a price of £8m.

It is understood that sales are now going through at or above the lotted guides. &#42