Slow start to 2024 as land marketing decisions awaited

New launches are few and far between, with agents waiting on decisions by potential vendors.

Holding up those decisions is a wide range of factors, including the weather, hopes for a softening of interest rates and the prospect of an election.

For a few, the injection of additional Sustainable Farming Incentive cash in England may have led to second thoughts about selling land this year, say some agents.

Land rarely comes onto the open market in Herefordshire, so there will be plenty of interest in a decent-sized parcel that Strutt & Parker is bringing to the market shortly.

See also: Stamp duty and farmland – how it works and what to expect

The ring-fenced 291-acre block of bare land at Brinsop Court Farm, near Brinsop, sits seven miles west of Hereford. This is gently undulating, predominantly Grade 1 and 2 land in a mix of arable and woodland.

Almost half of the area (130 acres) is mixed broadleaf woodland with potential for natural capital opportunities.

The land is very productive and the arable/woodland mix is expected to draw a wide range of potential buyers, says Juliette Burt of Strutt & Parker.  

The sellers are seeking offers of more than £3.25m (£11,168/acre).

South Devon

Higher Greenway has recently come to the market in south Devon with Stags. This agricultural and residential holding is on the edge of the River Dart, three miles west of Brixham.

The farmland, in all covering 251 acres, has free-draining, loamy and slightly acidic soils, mostly classed as Grade 2 but with some areas of Grade 3.

It has been let and farmed with a mixed rotation of cereal and fodder crops, along with permanent pasture.

The land will be offered subject to an existing farm business tenancy, which expires at the end of September 2024.

Higher Greenway Farm © Stags

The holding comes with a pair of three-bedroom, semi-detached cottages with scope for improvement.

George Alder, of selling agent Stags, said there is income potential from agricultural and residential property.

“The cottages offer good scope for improvement and occupy a desirable position being reached by a no-through road,” he said.

Higher Greenway is being marketed with an overall guide price of £2.84m and is also available in four lots.

Lanarkshire farm

Recently launched in Lanarkshire by Galbraith is Chesterhall Farm, near Wiston, Biggar, a 309-acre holding in pig and arable production.

The farm sits to the north of the A73 and has a traditional five-bedroom farmhouse in need of modernisation, and an adjoining modern three-bedroom cottage.

The infrastructure here includes modern buildings with capacity for 600 sows and 3,000 growing pigs up to about 30kg. There are also traditional farm buildings with development potential, subject to planning consent.

Duncan Barrie, partner at Galbraith, said the holding is well suited to continuing as a pig farm, or the adaptable range of buildings would support a mixed arable and stock enterprise.

“There is a well-balanced combination of ground, ranging from low-lying arable and silage fields to improved hill enclosures to the north of the farm providing good grazing,” said Duncan.

The relatively free-draining farmland, which ranges in height from 225m to 372m above sea level, is classified as Grade 3 and 4 and is a mix of arable and grassland.

Chesterhall Farm © Galbraith

Spring barley is grown on the arable land with fodder rape as a break crop; potatoes have also been grown in recent years.

The grass leys have benefited from regular pig manure applications and an internal network of farm tracks provides access to the most northerly and westerly fields.

The holding comes with several woodland plantations that provide shelter and amenity value, with the potential to expand forestry and environmental interests through natural capital and planting schemes.

Offers in excess £2m are being sought for Chesterhall Farm.