9 May 1997

Let land to test market

A HARDENING of yields to below 4% in the past five months makes one of the few units coming to the open market an interesting test for the let land market.

Owned by a traditional institution, Abbey Kirkstead Farm, Woodhall Spa, Lincs, is let for £41.67/acre, fixed until Apr 2000. Annual rental is £29,404 for the 695-acre mainly arable unit.

Guided at £850,000 for the whole, the land ranges from a light sandy loam benefiting from 3.5m gallons of irrigation to a heavier clay soil.

Modern and traditional farm building provide adequate grain storage for the holding and a six-bedroom farmhouse is complemented by four occupied cottages.

Also with gravel workings and the proximity to the growing town of Woodhall Spa, there is potential for additional income in the future from non-farming sources.

could boost the interest in Abbey Kirkstead.

"This unit should appeal to private individuals and trusts," says Andrew Pearce of selling agent, Savills.