Large acreages of bare land are in demand in the South West, but are hard to come by. Stags’ Launceston office covers east to mid Cornwall and north-west Devon, and has strong demand, both for bare land and farms larger than 150 acres, said the firm’s Gordon Millar.
Buyers were often moving from outside the area and looking for dairy, stock and arable units. With viability an issue, farms smaller than 200 acres were most commonly lotted for sale, making whole farms even more scarce, he said.
Bare agricultural land lots between 10 and 60 acres averaged £5706/acre in 2010, an increase of 22% over 2009 prices, with farmers taking advantage of low interest rates and better stock prices, he said.
South-western pastureland is also in demand by overseas investors and for purchase or rent for renewable energy schemes. Mr Miller recently sold 30 acres of pasture to a Spanish investor.
Despite the pony paddock and leisure land market falling away in some areas, this sector showed the largest percentage increase in 2010, up 40% to an average of £13,055/acre in the area covered by the Launceston office.
This office has 40 acres of grazing land with a small broadleaf woodland in a ring fence for sale at Highhampton, with a guide price of £150,000.
(Stags 01566 774 999)