14 June 2002

Strensham investment opportunity

THE balance of the Strensham Court Estate on the Glos/Worcs border is on the market for £2.1m following the decision of the vendor to change the emphasis of its property portfolio.

Vacant possession

Tim Raikes, of selling agent RH & RW Clutton, says property-owning company Lands Improvement Holdings PLC is moving away from agricultural land to concentrate more on brownfield sites. The sale also coincides with the end of a number of tenancies meaning the estate can be sold with the benefit of vacant possession.

Strensham, running to 571 acres and close to the M5/M50 junction, offers a number of investment opportunities, according to Mr Raikes. "A favourable written response has been received from the district council concerning the conversion of some buildings to office-type use. Around 60 acres has also been identified in the local plan as a preferred area for the extraction of 1.1m tonnes of gravel."

However, the owners will be retaining a clawback right over a proportion of any profits from the minerals, he adds. The gravel is included in lot three of the sale which features 288 acres of soil and is valued at £850,000.

Period farmhouse

Bredonfields Farmhouse, a six-bedroomed period dwelling in need of modernisation, makes up lot two along with a range of buildings and eight acres. In total the disposal has been split 11 ways. &#42