Sales gain momentum in the eastern counties

The market in East Anglia is gaining momentum along with the regions’ land values.

In north Bedfordshire, David Jones of Robinson & Hall has been instructed to sell the 1052-acre Honeydon Estate at Colmworth.

The property, which includes a traditional five-bed farmhouse and a let industrial estate, is guided at £5.5m for the whole but has been lotted six ways.

Mr Jones has valued the farm’s irrigated Grade 2 soil, which has grown brassicas in the past, at £3200-£3500/acre.

“Prices are a lot higher than a year ago,” he said. “I’d probably have been looking sub £3000/acre then. This year values are starting at £3000/acre and some land is going for £4000/acre.

“There’s still a shortage of land and a fair bit of money floating around in the general economy. I think there will be interest in the whole.

“It’s a good commercial block of land and it’s got a comfortable house, but the buyer isn’t going to have to shell out £3m on a Queen Anne mansion.”

The farm has more than 4000t of grain storage including a brand new 2000t shed. The Little America industrial estate, based around the buildings on a former WWII US airbase, generates about £130,000 and is available for £700,000.