17 May 2002

M25 farm price guess

FARMS within the M25 are a rare commodity, so setting a guide price for the 183 acres of arable land at Newlands Farm, Farleigh, Surrey, cant have been an easy task for the land agent involved.

"It is the first time I have come across such a sale," concurs Richard Murray Wells, of selling agent Smiths Gore. He has settled on a valuation of just over £2000/acre, which sounds good value in such a residential area. "There is not really a precedent so we are testing the market somewhat. I wont be surprised if it makes more," he adds.

Newlands was purchased in 1982 by the owner of the Old Rectory, a nearby four-bedroomed Georgian house that is being sold for £1.2m, and has been share-farmed since 1994 by Sentry Farming, with a projected profit of £9000 this season. &#42