Ex-coal mines a rich seam with the largest public sale of agricultural land in 10 years
Smiths Gore is leading a busy month for auctions with the largest public sale of agricultural land in the past 10 years.
Almost 1800 acres of mainly pasture in Derbyshire, Leicestershire and County Durham belonging to UK Coal Mining, which was formed after the Coal Board was privatised in 1994, will go under the hammer in 30 lots over two days.
Most has been reinstated after opencast coal mining, but selling agent Sam Tydeman said farmers would be hard pressed to notice in terms of agricultural productivity.
“Some people who have farmed similar land have said it seemed a bit heavier than before. But others I’ve spoken to said they were pushed to tell the difference.”
Mr Tydeman said the topsoil was saved as the bands of coal were removed and then replaced once they had been mined out. “You might have a flat field where once there was a hill, but the quality of the soil shouldn’t be affected.”
Most of the land had already been farmed for at least 10 years, he added. “There are lots of new fences and some brilliant tracks.”
Market value
UK Coal had decided to auction the land for two reasons, said Mr Tydeman. “First, it’s a PLC selling, so this is the easiest way to prove market value. Second, and perhaps most importantly, the three counties involved all have a good track record for selling land by auction.
“Virtually all of the land will be of interest to farmers and quite frankly they seem happy to buy this way.”
Day one of the sale, which has a total guide of £3.4m, will see 935 acres in Derbyshire and Leicestershire up for grabs on 21 November in 16 lots at the Donington Manor Hotel. Most of the land is guided at about £2000/acre, with smaller areas commanding a premium.
The largest parcel is 140 acres of grass and woodland at Ibstock, near Coalville, Leicestershire, priced at £270,000 (£1920/acre). A derelict Victorian house with 18 acres had a guide of £175,000 and had attracted a huge amount of interest, said Mr Tydeman. “In total, we’ve sent out over 900 sets of particulars.”
A day later, the sale moves north to the Ramside Hall Hotel, Carrville, near Durham, where £1.5m of land totalling 853 acres in 14 lots will be disposed of.
Just over 170 acres of woodland at Manor Wood, Lanchester, County Durham, are priced at £170,000 and include additional shooting rights. “This offers a rare opportunity to develop a small shoot over a total of 338 acres,” said Mr Tydeman.
Farm land for sale Derbyshire.