Estates offer racing fans a tempting buy

27 June 1997

Estates offer racing fans a tempting buy

By Louise Rose

IN the week after Royal Ascot, buyers enthused with the racing world now have two estates with the added benefit of a horsey angle to choose from.

Earlier this year the Caradoc Estate, Sellack, near Ross-on-Wye, was offered privately on behalf of John Edwards, who recently retired from racehorse training. But a deal fell through and agent Knight Frank now is marketing the 707-acre property with a £3m guide price.

The land is classed mainly as grade 1 and 2 red loam soil enabling a range of cropping including potatoes, sugar beet and onions, 441 acres are IACS eligible. An abstraction licence for about 7m gallons of water provide sufficient irrigation.

"On a bare land basis the arable land is worth about £3500/acre," says Tony Morris Eyton, Knight Frank. "Some of the best soil is along the river, but, historically, to avoid any risk of crop damage from flooding, this is down to pasture." Farm buildings at Caradoc include a modern range. Grain storage capacity of 2000t and the various barns laid out as stable accommodation could, subject to planning permission, be converted to alternative uses.

Also there is planning permission for another dwelling complementing the existing accommodation of a Grade II listed five-bedroom house, two cottages and a staff flat.

"The main house is worth about £400,000," says Mr Morris Eyton.

About 65 acres of mixed woodland provide the basis for a shoot with days averaging 250 birds, and last season any let days sold for up to £21 a bird. Further sporting includes shared rights to 1720 yards of single-bank fishing on the river Wye, worth at least £100,000.

A mile from Epsom racecourse in Surrey, two gallops are included in the 803 acres at Langley Bottom Farm, which is guided at more than £2.5m for the whole.

About 543 acres of land are IACS eligible – valued at £3000/acre – managed on a combineable crop rotation, and stock are run over the 68 acres of pasture. The light chalk land is mainly classed as grade 3.

In 1996 the vendors built a four-bedroom farmhouse. A section 106 planning restriction prevents the four cottages also at Langley Bottom from being sold off separately. Farm buildings include grain storage for 1350t and livestock housing.

About 145 acres of woodland incorporate a pheasant shoot averaging 150 bird days and almost 20 acres of new plantations were recently established under the woodland grant scheme.

"Offering the potential to spread the income base of the estate, some fringe areas of land are suitable for infilling development in the future," says Mr Morris Eyton.

He maintains that interest for these estates is likely to be strongest from City buyers, as both units incorporate more than just commercial farmland. &#42

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