Buccleuch Estates will sell 3,600ha of forestry and agricultural land on its Borders Estate in Dumfries and Galloway on the open market.
Bowhill and Eskdale and Liddesdale Estates were merged in September and the combination is now known as Borders Estate.
The land, which is close to the A7 road to the south of Langholm at Canonbie, is available as a whole or in 18 lots as part of the Evertown portfolio.
Evertown comprises equipped farms, productive farmland, commercial forestry and extensive planting opportunities.
See also: The land market in your area: Scotland
As part of the announcement on Friday (28 September), Buccleuch said tenant farmers who live on their farms on long-term tenancies have been offered the opportunity to purchase their farms ahead of the open sale process, and remain able to do so.
Discussions with those farmers who have already expressed an interest in buying their farms are continuing.
Farms currently occupied on 1991 Act tenancies, which are secure agricultural leases, are not part of the sale.
The managing company is also in discussion with a range of community groups that have expressed an interest in acquiring land.
Buccleuch chief executive John Glen said: “We are committed to achieving the best use of land possible and part of that strategy involves reducing our footprint.
“Selling land will allow Buccleuch to care for its remaining holdings more manageably while enabling the business to invest the capital it raises in other parts of our rural enterprises.”
Charles Dudgeon of Savills, which is advising Buccleuch, said: “We are anticipating a good level of interest at a time when there is a lack of supply and opportunities across the UK.”
Buccleuch has sold 24 farms totalling 12,950ha across its Scottish estates over the past 20 years, as part of a policy to enable investment in new projects.