19 May 1995

Essex unit split into 15 lots

TO GUARANTEE attracting interest from a variety of potential purchasers, a farm in Essex has been split in up to 15 lots.

Near Chelmsford, the Apps Estate includes 782 acres of Grade 3 medium clay loam land of which 650.85 are eligible for arable area aid payments.

As a whole the estate is guided at around £1.9m, with the bare arable land valued in the region of £1800/acre, an increase in value of 10% since 1994, by Strutt & Parker agent Tim Fagan.

Most of the arable land is split into two blocks of 386.93 and 157.58 acres including some woodland, with five further lots of arable land ranging from 14.81 acres to 49.49 acres.

There are two ranges of farm buildings, including modern grain storage for 1750t which is about three-quarters sufficient.

Requiring some renovation a grade 2 listed, five-bedroomed farmhouse provides the main accommodation and is offered as lot 1 with a range of buildings including an Essex barn.

Mainly in three blocks, the 70 acres of woodland could be developed to provide some sporting opportunities.

Mr Fagan identifies three main sources of interest in the farm. Being less than half an hour from Liverpool Street station, the houses at least are likely to appeal to the commuter.

As a whole it could be bought for investment purposes, a common trend in this part of Essex, or by a local farmer looking to take on another farm.

"Farmers are willing to travel up to 20 miles to acquire another farm to run in conjunction with their current holding," says Mr Fagan.

In lots the blocks of arable land should attract strong interest from farmers within a five-mile radius looking for up to an additional 200 acres to add to their farms.