19 October 2001

Second time round for Devon holding

STAGS is relaunching an east Devon residential dairy and stock farm near Honiton.

Townshayne Farm, Northleigh, was originally brought to the market last year when the Essex-based owners decided to bid on another Devon unit up for sale by auction. That venture, however, failed to come to fruition and the sale was put on hold.

Now, according to the firms Simon Cooper, the vendors plans have changed and they have decided to remain in Essex acquiring a small farm in the county. "The holding was being share farmed with a view to moving down later, but since then their position has changed."

The farm extends to 245 acres, and also includes part of Coombe Farm, the residential element of which is being jointly offered by Strutt & Parker for £475,000. Featuring a four-bedroomed dwelling, Townshayne is valued at £785,000 and is available in seven lots.

Despite foot-and-mouth, Mr Cooper says the Devon market is holding up well, mainly driven by a scarcity of land for sale. "Usually I would sell 500 acres of bare land, but this year it has only been about 10% of that."

He also notes that residential demand is still extremely strong. "From the Honiton office we have already sold £3m worth of properties with small parcels of land during October." &#42