An 1,100-acre mainly arable property on the Warwickshire/Leicestershire border is set to provide a good test of the late autumn market.
The Newnham Fields Estate, near Rugby, a commercial block of land with sporting potential, consisting of 902 acres of arable, 75 acres of pasture and 98 acres of woodland.
It is well equipped with farm buildings, including 9,400t of on-floor grain storage, offices, a four-bedroom farmhouse and a three-bedroom cottage.
Given the keen interest shown in the few sizeable blocks of land marketed this year, Cater Jonas partner Jasper Feilding expects brochures to fly out of the door when the estate is launched next week.
“A property of nearly 1,100 acres will make the market sit up and look, especially with all but 400 acres available just after next year’s harvest and the rest soon afterwards.”
The estate, which has a guide price of £10.8m, will appeal to both investors and farmers. “The bare land is valued at £8,500-9,000/acre, but similar land close by achieved in excess of £10,000 last year,” said Mr Feilding.
The land is Grade 3, fine/coarse loamy over clayey soils (Beccles 3), which has been well farmed and is suitable for cereals and grassland.
The estate is also lotted four ways – the farmhouse, buildings and 402 acres for £4.2m, 258 acres for £2.25m, 35 acres plus cottage for £850,000 and 400 acres plus modern buildings for £3.5m.
Lots 1 and 2 have been subject to tenancies (AHA and FBT), which expire at Michaelmas 2015. Lot 4 is subject to a farm business tenancy that expires two years later. Single payment entitlements and sporting rights are included. (Carter Jonas 020 7518 3200).