Top factors are location and demand
LOCATION and local demand proved the most important factors behind the sale prices achieved at a recent collective property auction.
Including two acre paddocks and 95 acres of pasture land, 353 acres of agricultural land in north Wiltshire were offered in 13 lots by Kit Harding of auctioneers Alder King.
Eligibility for arable area aid had little bearing on some of the sale prices, and at Colerne, near Chippenham, the 96-acre block of pasture was declared sold at £290,000 (£3023/acre).
Guided at nearer £2000/acre, competition from three adjoining dairy farmers pushed up the bidding. Also with interest from local residential buyers and farmers, another 28 acres of pasture at Colerne achieved £3000/acre.
But two parcels – 34 and 18 acres – of eligible arable land in the same location sold for £2000 and £2944/acre.
Some pasture land (38 acres) without road frontage and only poor access, at nearby Foxham, was also bought by a neigh- bouring farmer for £74,000 (£1947/acre). *