15 October 1999

Discount for farm occupancy reason

WORKING a discount into the value of a 200-acre mixed unit now on the market, due to agricultural occupancy conditions on both properties, makes it relatively good value in the current market.

"I can well imagine someone will buy the whole farm with a view to knocking down the dwellings and replacing them with one. Something the planners often are receptive to," said Andrew Jones, Clegg Kennedy Drew.

However, the vendor would consider selling the modern five-bedroom farmhouse with a smaller acreage if there was the interest.

Ladbroke Grove Farm, near Leamington, Warwicks includes 153 acres of arable land which Mr Jones valued at about £2500/acre – the remaining acreage is divided between pasture, 36 acres, and some amenity woodland. Also a three-bedroom bungalow and a yard are included in the £625,000-650,000 guide price.