Eager bidding by neighbours sharpens price in East Anglia
COMPETITION among neighbouring farmers resulted in about 88 acres of Suffolk arable land achieving substantially over the £2500-2700/acre anticipated by the auctioneers.
Offered in two lots, 65.34 acres of grade 3 heavy wheat growing land at Ilketshall St Lawrence, near Bungay, which adjoins other farmland, was knocked down at £232,000 (£3550/acre).
"Although there were three bidders in the room, there were another four interested parties who didnt manage to get a look in," says Nicholas Rudge of agents Durrants.
Down a two-mile track, a 23.30-acre arable field at Shipmeadow, near Beccles, achieved £81,000 (£3476/acre), bought locally for arable production.
Grade 2 block
A block consisting of 129.48 acres of grade 2 arable land at Jarvis Farm, Newton Green, near Sudbury, adjoins a number of farms giving locals an opportunity to tack the land on to their existing unit.
Offering the land by tender, agents Lacy Scott have not fixed a guide price but it is likely to achieve at least £2500/acre.