Kent holding offers farming and commercial income

One of the last commercial farms to come to the market in 2012 has been launched in Kent, a corner of the country which has seen little sales activity this year.

New Luckhurst Farm near Smarden is a diversified business with potential to expand, said Richard Thomas, partner at BTF Partnership, Challock.

The property includes 170 acres of relatively level Grade 3 arable land and 32,600sq ft of modern buildings including a business centre with eight self-contained offices, all currently let.

There are substantial farm buildings and a yard including grain storage and a large general-purpose storage barn.

A modern four-bedroom house built in the early 1990s comes with an additional two annexes.

Mr Thomas expected keen local and wider interest from farmers and investors. “The key thing about this property is the rent role. The FBT is worth about £25,000 a year and the business centre about £50,000 a year. That goes quite a way to funding a mortgage. Alternatively someone could pocket the £50,000 and farm the land.”

There was potential to convert further buildings into business units or storage, he added.

The fields, subject to a Farm Business Tenancy that expires in September 2013, are large and easily workable. “It’s good strong wheat land with a well maintained tile drain system,” said Mr Thomas.

New Luckhurst Farm has a guide price in excess of £3m.

The scarcity of acres for sale in the South East looks set to continue, says Mr Thomas. “We are not looking at as much as we were this time last year.

“The weather is not helping – that has distracted everyone, and there is a feeling everyone wants to get this autumn out of the way.” (BTF Partnership 01233 740 077)

James Hickman, of Ashford-based Hobbs Parker, said the South East had been through a particularly quiet period, which looked set to continue. “Kent and the South East generally lags behind other areas in the amount of land finding its way on to the market.

“We would not expect to be picking up new sales enquiries until the new year, but there is a feeling that land prices will improve again. Some sellers will be looking to wait another year to see how things go.”