Pershore colleges shed farmland after merger
Pershore colleges shed farmland after merger
LAND and properties now surplus to teaching requirements are being sold, following the merger of three Midlands agricultural colleges.
The Pershore Group of Colleges, comprising Holme Lacy in Herefordshire and the Hindlip and Pershore Colleges in Worcestershire, is launching a phased sale. First on the market is a 480-acre block of land at Hindlip, near Worcester.
Predominantly growing winter cereals, the land is offered as a whole or in lots. Total guide is £1.05m – an average of just under £2200/acre, including a general purpose building.
Despite the precariousness of the agricultural economy, selling agent Carver Knowles says the market for farmland continues to hold up well. "Weve had several large acreages of bare land to sell, but each parish and each location seems to bring forward a fresh crop of buyers," says the firms Mark Grimes.
Uncertainties with regard to the performance of the stock market are likely further to underpin land prices, he says, as investors look for a safer haven for funds.
Further sales will include residential property, traditional farm buildings with planning permission to convert to dwellings and commercial development opportunities.
The proceeds will be reinvested in new teaching and student facilities.
Plans for enhanced facilities at the college are in hand, according to Dr David Hall, principal of the Pershore Group of Colleges. The development programme is due to begin early next year. *