Essex arable land likely to attract commercial buyers

One of the biggest chunks of prime Essex arable farmland to reach the market for several years is being launched by Strutt and Parker later this month.

Essex Farms extends to 4000 acres of mainly Grade 2 boulder clay land in three blocks between Bishop’s Stortford, Braintree and Chelmsford and is likely to attract buyers wishing to invest in arable land for its commercial, rather than amenity, appeal.

Previously owned by the London Co-Operative Societies, Essex Farms have passed through the hands of pension funds and were now owned by a charitable trust.

‘Uncomplicated opportunity’

Strutt and Parker’s James Laing reckoned they were likely to sell as a whole.

“At a time when there has never been so much interest and demand for arable land, this represents an excellent opportunity for either an individual investor or a fund to buy a no-nonsense block of highly productive arable farmland.”

These farms provided an excellent opportunity for buyers wishing to acquire an “uncomplicated” commercial arable opportunity, Mr Laing said.

‘Prime area’

“This is in the prime area for wheat production in Essex.”

It was likely to attract competition from arable farmers looking to move or expand and any buyer not looking for amenity, residential or sporting value alone.

Mr Laing predicted “enormous” interest from overseas buyers, particularly from Denmark and Ireland.

Well-maintained

Mr Laing has set a guide price for Essex Farms of £30m for the whole. The farms would be offered individually but would not be subdivided any further.

“In the past it has always sold as a whole,” he said.

Stebbing Farms, near Dunmow, is the biggest of the three units at 2119 acres with some well-maintained general-purpose farm buildings, 5000t of grain storage and drying facilities and two houses.

Reservoir

Berners Hall Farm near Ongar includes nearly 1700 acres of Grade 2 Stretham and Hanslope soil with 7500t of mostly on-floor grain storage.

Cropping has been based around wheat with oilseed rape and peas but the farm has grown potatoes and has a 60m gallon reservoir.

There are two farmhouses and five cottages.

Paslow Hall Farm is just over 800 acres of grade 2 and grade 3 soils with some general purpose buildings.

Mr Laing said he expected the land to achieve around £5000/ acre.