Yorkshire estate provides investment chance

A traditional agricultural and residential estate extending to about 800 acres in North Yorkshire with extensive development potential is likely to attract a wide range of prospective purchasers.

The Askham Richard Estate, located six miles from York, consists of two equipped let farms on Agricultural Holdings Act tenancies, which run to 417 acres, 323 acres of bare land let on a short-term farm business tenancy, farm buildings and 54 acres of woodland.

A further 14 residential properties, mainly let on assured shorthold tenancies, are sited in the village while Park Cottage, which adjoins former stable buildings could be made into a principal house for the estate, subject to planning.

Given the development opportunities and/or investment potential of the estate, Jasper Feilding, head of London Country Department at Carter Jonas said: “Opportunities to purchase an estate such as Askham Richard are rare and we’re expecting a large amount of interest.”

With Notice to Quit having been served on the farm business tenancy with effect from 11 October 2012, that could include someone who wanted to farm as well as invest, he added.

The estate, which was once owned by prolific Yorkshire Architect, John Carr, who designed Buxton Crescent, Harewood Hall and York Racecourse grandstand, generates a gross rental income of £155,000 a year. Residential rents account for about two-thirds of that and agricultural rents the rest. Rental reviews were due, Mr Feilding said.

Cedar Tree Farm comprises two dwellings with a range of traditional and modern farm buildings, including a recently erected grain store and general purpose building. The area runs to almost 291 acres of mixed arable and grassland.

Cedar Tree Farmhouse is a substantial Grade II listed five-bedroom detached brick house. Prospect Cottage has three bedrooms and there is a range of brick outbuildings to the rear of the farmhouse. Modern buildings include a new five-bay grain store, new open-fronted five-bay cattle shed and various stores.

White House Farm amounts to 127 acres of mixed arable and livestock and includes a Grade II listed recently refurbished four-bedroom detached house. Farm buildings include a traditional brick and pan tile range plus several modern structures.

The estate is for sale by private treaty as a whole with a guide price of £6.5m.

Carter Jonas 01904 558 230; Meller Braggins 01625 527 181.