Plenty of buyers for farmland in south west

Stags enjoyed one of its busiest weeks last week, with five properties in the south west finding buyers in a matter of days.

Its mid-Devon auction saw 60 acres of pasture with a range of former dairy buildings at East Loosemoor, Tiverton, go for £260,000. Some 93 acres at Grew Farm, Cheriton Fitzpaine, sold in three lots prior to auction, exceeding £3000/acre. And 21 acres at Ash Mill, South Molton, achieved well over the £95,000 guide, despite being subject to a secure tenancy.

Also sold last week were two farmsteads. Higher Goodstone, near Newton Abbot, included a large farmhouse, 62 acres, and planning permission for six further dwellings. It sold for close to £950,000. Deal Farm, Manaton, sold in five lots totalling 83 acres, with a traditional farmhouse and range of Victorian stone barns taking it near to the £985,000 guide.

“These results show that the market is still very active across a variety of sectors of the farmland market,” said farm agent Alex Rew. Farmland in the south west is averaging £4500-£5000/acre, about £1000/acre below its pre-recession peak. But while prime versatile land was commanding strong competition, less attractive blocks were struggling to reach £3000/acre, he added.

The firm has just launched Winslade Farm, Spreyton. It is on the market for £700,000, which includes 61 acres of pasture, a four-bed bungalow and a range of modern farm buildings.