Part of a traditional-let agricultural estate has come to the market on the southern boundary of the Lake District National Park, offering a keenly priced package for long-term investors.
Just over 434 acres of land, including two equipped farms and a bare land let on Agricultural Holdings Act (AHA) 1986 tenancies, part of the Broughton-in-Furness estate, is for sale in three lots with an overall price of £1.365m. Total annual rental income is £18,975.
Will Douglas of agent Smiths Gore said the scarcity of AHA farms on the market meant this offering would be of key interest to investors looking for long-term uplift in land value.
“The Broughton Estate is priced at just over £3,100/acre, about half the value of equivalent vacant possession land.
“With one more succession before the AHA reaches its term, prospective buyers can expect a significant boost in value in 70-80 years’ time, as well as a modest return on investment in the meantime.”
Manor Farm, a dairy and sheep unit, has almost 127 acres of grade 4 mainly free-draining, sandy acidic loamy soils, all down to grass, and about 16 acres of woodland.
The farmstead includes an extensive range of modern and traditional farm buildings and a four-bedroom farmhouse. Annual rent is £9,575/year and the farm is priced at £675,000.
Lower Hawthwaite Farm, another dairy and sheep farm, consists of 142 acres of land similar to Manor Farm, down to grass with some more extensive areas of rough grazing, plus about seven acres of woodland. There is a four-bedroom farmhouse and buildings. The rent is £6,000/year and the farm is priced at £550,000.
The final lot is land at Middlescough, a 140-acre block of rough grazing with an annual rental value of £3,400 and a price tag of £140,000.
The sale is by formal tender with a deadline of 12 noon on 17 December. (Smiths Gore 01904 756 303)