Scots acres follow keen English path
NOW under way, the farmland market over the border in Scotland is showing signs of following a similar trend to its English counterpart as demand exceeds supply.
Marketed at the end of July, Teasses Farm, Ceres, near Cupar, Fife, has already been the subject of over 200 enquiries, most from local farmers.
The 741-acre stock and arable unit includes mainly grade 3II land supporting 210 suckler cows and a flock of 200 crossed ewes, with 185.56 acres of arable.
Offers of higher than £960,000 for the whole are sought and William Jackson of selling agents Knight Frank & Rutley anticipates a 20-30% premium for the eligible land.
The farm has also been lotted up. With most of the agricultural land split in to three, local interest is strong, although with only one farm steading Mr Jackson maintains that it is likely to sell as one unit.
Also near Ceres, but marketed in June, Baltilly Farm is now under offer, with agents Strutt & Parker receiving 10 offers for the whole or part of the 249 acres.
Valued at £1600/acre, the sale price was well in excess of this, with Andrew Smith of the agents maintaining that the best quality arable land in Scotland is now achieving between £2000 and £2500/acre.
"Demand is currently strong for both equipped farms and bare land, with two-thirds of the interest from within a 10-mile radius of each farm marketed," says agent Andrew Smith.
He has also received a substantial number of offers from farmers in Ireland, who taking advantage of the high land prices there, are selling up and moving to a larger farm in Scotland.
Good quality eligible arable land can achieve a 20-30% premium.