Sale of F. Strawson Ltd as a going concern

£1,250,000 - SALE

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Sale of F. Strawson Ltd as a going concern
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MASONS
Manor Farm
Binbrook
Thoresway
Lincolnshire
United Kingdom
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Sale of F. Strawson Ltd as a going concern
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MASONS

Description

The sale includes the Agricultural Holdings Act 1986 tenancy of Manor Farm, Thoresway, the value of the balance sheet as at 30th June 2019 and the Basic Payment Scheme entitlements.

Manor Farm, Thoresway is a productive block of mixed farmland in the centre of an Area of Outstanding Natural Beauty, The Lincolnshire Wolds. The tenancy comprises in brief:
– Thoresway Manor Farmhouse, Yard and Buildings
– Two further cottages
– 354.57 acres of Grade Two/Three arable land
– 208.63 acres of grassland
– Traditional and modern agricultural buildings

Situation
Located around the village of Thoresway, Manor Farm is approximately 3.5 miles north of the village of Binbrook and 13 miles north west of the market town of Louth.

This is a good farming area with gentle rolling countryside. The Lincolnshire Wolds is well known for its picturesque landscapes and rich agriculture. The local market towns provide the services required, nearby Louth is a busy market town and offers a good range of facilities and amenities as well as Lincolnshire’s only remaining livestock market.

Tenure
The company, F. Strawson Ltd, is a tenant under The Agricultural Holdings Act 1986 on a full repairing and insuring lease (n.b the pump house on the roadside is declared redundant). The rent payable is £45,000 per annum which was last reviewed with effect from April 2017. A full copy of the tenancy agreement can be found in the information pack available from the selling agents and potential purchasers should satisfy themselves with the full terms of the tenancy.

The landlord will not unreasonably withhold consent to sub-let the farmhouse, cottages and grassland subject to them being provided with full details of the proposals prior to any agreement being made.

Method of Sale
The company shares are offered for sale by Informal Tender.

Closing date for best offers 3rd June 2019.

Vendors Solicitors: David Harvey, Bridge McFarland, Market Place, Market Rasen, LN8 3HL.

The agreed sale price will reflect the value of the balance sheet at the 30th June 2019, the Basic Payment Scheme entitlements and the Agricultural Holdings Act 1986 Tenancy which the company holds.

The balance sheet will include the value of the growing crops with no further debtors or creditors. It is anticipated that the value of the balance sheet will be in the region of £70,000 following repayment of Director’s loan accounts. These director’s loan accounts will be settled out of the proceeds of the sale of the business to leave the balance sheet as described.

Viewings
Two viewing days will be on Tuesday 7th and Wednesday 8th of May 2019 from 10am to 4pm by arranged appointment. Other viewings strictly by appointment only.

 

Guide Price

Offers in excess of £1,250,000
Please see or request the brochure for full details.

Date posted: 29/04/19