Coastal Cornwall offers stunning farming location

A coastal farm shortly due for launch in Cornwall offers good scale commercial farming in a stunning location with sporting and letting opportunities.

Penhallow Farm is just over nine miles from Truro and has a five-bedroom Georgian farmhouse, currently occupied by the farm manager, with a three-bedroom annex. There is also a detached thatched Grade II listed two-bedroom cottage.

The mainly Grade 2 and 3 land has well-drained, fine loamy soils, with 510 acres freehold and a secure tenancy on a further 58 acres of coastal National Trust land.

About 470 acres is arable, growing combinable crops, but the farm has produced daffodils in the past and would be suitable for brassica production, said selling agent Penny Dart of Savills.

“It’s unusual in terms of both size and quality to have a good stretch of land like this,” said Mrs Dart. “It’s a fantastic area to live in and there is access to the coast and the river – it’s got everything.”

The extensive modern buildings are sited on three locations across the farm and include grain storage and cattle yards, while some of the traditional farm buildings have planning consent to convert to a four-bedroom house and a two-bedroom holiday unit. There are also areas of mature and recently planted woodland on the farm.

It is the company that owns Penhallow Farm that is for sale, with a guide price of £5.5m. A condition of the sale is that the buyer additionally takes on the live- and deadstock belonging to the company at the time of sale.

The valuation of the machinery, equipment, livestock, growing crops and stores will be subject to approval of valuers acting for buyer and seller separately.

A company sale has the advantage of being subject to stamp duty at the lower rate of 0.5%, rather than the 4% rate levied on most farm sales.

Sporting rights are included in the sale but the mineral rights over part of the property are not included. The farm’s single farm payment for the 2012 year was £45,539.11. (Savills 01872 243 222)

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