FARM SALES LIST | Farms and Estates | SUMMER 2013
P1 Cover final.indd 1 14/05/2013 11:57 CONTENTS Welcome Alex Lawson, of Savills Farms and Estates team in London, reports that the agricultural sector for 2013 is buoyant and strong with a confident outlook
nce again, I am pleased to maintain rising values, even if some of our publicly offered for sale continues to be a introduce our annual Farm Sales colleagues have begun to detect caution as top striking characteristic, and while this is pushing O List, which provides an overview prices break through the five-figure threshold. record prices, it is also causing frustration of some of the farms, estates and With the strongest demand coming from among the numerous unsuccessful purchasers. land holdings currently being marketed by existing farmers and investors, the more However, many of our Savills experts report Savills. I hope that this, together with the residentially-weighted holdings are being being involved in a growing number of private regional commentaries from our local experts, put under pressure, which means that quality, sales.The statistics quoted in these pages and will be of interest to you. location and pricing are critical. the farms we present, are therefore only one It comes at a time of varying fortunes for Nevertheless, a sensible approach can aspect of the overall activity. farmers.The weather has been difficult for generate competition and result in highly Within this strong market, the only almost everyone; last year’s yields were satisfactory sales.The lack of farmland being uncertainty stems from the mounting political disappointing and with crop establishment this pressure both here and in the EU. It remains year having been very testing, it looks as to be seen what effect domestic economic though the 2013 harvest might be under Our experts factors and ongoing discussions over CAP pressure too.The impact on arable farmers is report reform will have on subsidies and the obvious, although last year’s disappointing being involved in a domestic farming sector in general. yields have been slightly offset by the increase growing number Our hands-on experience of the farms and in the price of grain, while the knock-on effect estates sector,backed up by statistical analysis, on feed prices, plus poor forage crops, is of private sales” and access to the most active buyers, is causing real hardship to the livestock sector. Alex Lawson unrivalled. However, as our regional reports clearly If you would like to discuss any issues raised show, the market remains generally buoyant. by this year’s Farm Sales List, we would be There is sufficient confidence among buyers to delighted to hear from you. CONTENTS
P3 NORTH & MIDLANDSA strong sellers’ market with land values rising fast P12 EAST The quality of the land is paramount and location matters more than ever before P18 SOUTH WEST The major considerations for purchasers in the South West is location and land quality P25 SOUTHLarge blocks of bare land are driving competition between international buyers, farmers and investors P34 CENTRAL The market goes from strength to strength but is countered by a limited supply of new land P38 SCOTLAND Tight supply south of the border makes Scotland look good value and is encouraging buyers north P42 WALESThe market is buoyant in Wales with both prominent local purchasers and those from across the border P47 INTERNATIONAL The international farmland market is growing and offers huge opportunities P50 DIRECTORY Contact details for the Savills Farms and Estates team
Farm Sales List is published on behalf of Savills UK Ltd by Casella Publications Ltd. All information correct at time of going to press. All rights reserved. Articles may not be reproduced without written permission from the publisher. Opinions expressed are those of the author and not Savills or the publisher. While every care is taken in compiling the content, neither the publisher nor Savills UK Ltd assumes responsibility for effects arising from this publication. Property Misdescriptions Act Savills recommends that applicants discuss their interest in a property with the negotiator who can answer more specific questions and advise if it is under offer. This is especially important if you are contemplating travelling some distance to view the property. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsibility, and any intending purchasers or tenants should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise to the correctness of each of them. Investment advice: The information and opinions contained in this magazine do not constitute professional advice and should not be relied upon. Specific advice relating to your individual circumstances should be obtained.
SAVILLS FARM SALES LIST 02
p2 Welcome final.indd 1 14/05/2013 11:39 North & Midlands IT IS A STRONG SELLERS’ MARKET WITH LIMITED SUPPLY PUSHING VALUES THROUGH THE £10,000 PER ACRE BARRIER
espite the overall statistics for values and supply in the Size and North and Midlands being location D broadly consistent with UK-wide figures, the regions saw some are key dramatic internal variations. “Supply across the UK is at almost its lowest level ever, down 12% to about 137,000 acres,” says Andrew Black of Savills York. “Within our region it is even more dramatic. In the East Midlands as a whole supply fell by 50%, and by 65% in Lincolnshire; in Staffordshire it fell by 76%; and we saw big reductions in South Yorkshire (61%), Shropshire (59%), Lancashire (55%) and the East Riding of Yorkshire (47%). “Yet we also saw some significant competition for a very limited number of a guide of £7,000-£8,000 went into farms, and there is no reason to expect double figures. greater supply. We used to see a “Supply is constrained — farmers are We’re seeing perceived upper barrier at £10,000 per holding on to their land and contracting it intense acre, but now we’ve hit that barrier it out — but behind the publicly marketed competition for doesn’t actually appear to be affecting land there is much more land being traded decisions. And having hit it, there’s nothing privately. It’s a strong sellers’ market, and a very limited to stop values rising further.” there are plenty of sellers taking advantage number of farms Of course, these high prices do not of it. They just want to do it discreetly. in Yorkshire” apply to every acre — only commercial “It is understandable that farmers want Andrew Black farms and smaller blocks with keen local to hold on to their land, with its tax farmers. More broadly, the average value advantages and investment potential. But of prime arable land in the North rose by now is as good a time as any to sell: we 13.5% last year, to £7,650 per acre. have seen significant growth and there is Growth was also recorded in the Grade 3 plenty of money in the market that might increases of supply: up 257% in Durham arable sector, where the average values not be around forever.” and 118% in West Yorkshire, although we rose by 12.7% to £5,900 per acre. Dairy were starting from a low base. In North land averaged almost £6,500 per acre, an Yorkshire the supply was maintained at increase of 13% on 2011 values. Contact Details 10,500 acres, the same as 2011.” In the East Midlands, Stephen Hall of With demand continuing unabated, Savills Lincoln reports a similar scenario Andrew Black Andrew has noticed displaced buyers from last year. “Prime arable land is quoted Savills York creating something of a bottleneck up at £7,500 to £8,000,” he says, “but in fact 01904 617 831 north. “One or two very big buyers in East quality land is fetching at least £8,000, [email protected] Anglia displaced buyers to Yorkshire,” he often £9,000 and sometimes over £10,000 says. “So our local buyers looked further per acre. Size and location are key to Stephen Hall north, but with supply in Northumberland achieving these top prices, since investors Savills Lincoln reducing by 33% last year, there was are our principal buyers, who want farms 01522 508 933 nowhere for them to go. to run as big businesses. One block of [email protected] “As a result we are seeing intense just under 1,000 acres that was offered at
SAVILLS FARM SALES LIST 03
p3-11 North and midlands final2.indd 3 16/05/2013 11:35 NORTH& MIDLANDS | DERBYSHIRE
A wonderfully situated farm Lot 1 Under offer
Banks Farm Key features Guide £1,250,000 / Alfreton, Derbyshire ● 4 bedroom farmhouse 114 acres
● 114 acres of productive farmland
Banks Farmhouse is a substantial detached ● Substantial range of farm buildings formerly family home set back from the road with used for housing dairy cows Contact: Savills Nottingham
Newton village half a mile away. ● Available as a whole or in 3 lots 0115 934 8123
Situated in a beautiful unspoilt valley in the Peak District
Dingers Hollow Key features Guide £975,000/ Macclesfield, Derbyshire ● 4 bedroom farmhouse subject 187 acres to restriction Contact: Savills Telford
This residential hill farm is surrounded by its ● Traditional and modern farm/general 01952 239 500 own gardens with a backdrop of woodland purpose outbuildings Savills Wilmslow
with a natural waterfall. ● Principally pasture land 01625 417 450
SAVILLS FARM SALES LIST 04
p3-11 North and midlands final2.indd 4 14/05/2013 11:10 DERBYSHIRE, LEICESTERSHIRE | NORTH& MIDLANDS
A rural property complete with mixed income streams
Dunston Hole Farm Key features Guide £1,300,000 / nr Chesterfield, Derbyshire ● Large 4 bedroom farmhouse Approx 36 acres
● Extensive equestrian facilities
This offers prospective buyers the ● Converted farm building with B1 office use
opportunity to attain a diverse mix of assets ● Converted cottage with consulting rooms Contact: Savills Nottingham
both in hand and let. ● Available as a whole or in 3 lots 0115 934 8123
Grade I Jacobean An important manor house architectural and historical estate
Quenby Hall Key features Guide £11,000,000/ Hungarton, Leicestershire ● 11 bedrooms, 7 reception rooms 1,013.5 acres
● 7 additional houses/cottages and 4 flats
An historical country estate with parkland, ● Courtyard, stable yard, farm buildings
farmland, and woodland and accessed via a ● Pasture, arable and woodland Contact: Savills London
long private drive. ● Lakes and shoot 020 7016 3780
SAVILLS FARM SALES LIST 05
p3-11 North and midlands final2.indd 5 14/05/2013 11:11 NORTH& MIDLANDS | LINCOLNSHIRE/RUTLAND
Grade II* listed Georgian Hall with stunning gardens
Holywell Hall Key features Guide £4,750,000 / Clipsham, Lincolnshire/ ● Grade II* listed hall with 10 bedrooms, 74.42 acres Rutland Border 8 bathrooms, 5 receptions and annexe
● Orangery, fishing temple, chapel, dovecote
A majestic property within formal gardens, ● 2 cottages and traditional buildings Contact: Savills London
lakes and grounds. ● Formal gardens, lakes and grounds 020 7016 3780
An attractive predominantly arable commercial farm
Holywell Farm Key features Offers in excess of Clipsham, Lincolnshire ● 6 bedroom farmhouse (in need of £6,250,000 / 862.98 acres refurbishment) with mature gardens
A commercially run, predominantly arable ● Range of farm buildings
holding on the Lincolnshire/Rutland border ● 2 further farmsteads Contact: Savills London
including an established shoot. ● Available as a whole or in up to 4 lots 020 7016 3780
SAVILLS FARM SALES LIST 06
p3-11 North and midlands final2.indd 6 14/05/2013 11:12 LINCOLNSHIRE/NOTINGHAMSHIRE | NORTH& MIDLANDS
Highly productive and versatile Sold
Drayton House Key features Guide £2,500,000 / Swineshead, Lincolnshire ● Predominantly Grade 1 land 244 acres
● 3 bedroom cottage let on a Rent An excellent investment opportunity to buy (Agriculture) Act Tenancy
highly sought after Grade 1 land in an area ● Farmyard including hard standing Contact: Savills Lincoln
renowned for its quality and versatile soil. ● Let on an FBT until 2014 01522 508 933
With licensed borehole
Compact dairy unit in an attractive setting Under offer
Brookhill Hall Farm Key features Guide £1,200,000 / Pinxton, Nottinghamshire ● 136 acre dairy farm with dairy and livestock 136 acres rearing buildings for up to 200 dairy cows
Brookhill Hall Farm has an extensive range ● 4 bedroom farmhouse
of buildings and surrounding land and is ● Modernised slurry and effluent storage Contact: Savills Nottingham
close to major roads such as the M1 and A38. ● Available as a whole or in 4 lots 0115 934 8123
SAVILLS FARM SALES LIST 07
p3-11 North and midlands final2.indd 7 14/05/2013 11:14 NORTH& MIDLANDS | NOTTINGHAMSHIRE, STAFFORDSHIRE
Extensive grounds and facilities
A stunning period farmhouse
Low Farm Key features Guide £2,325,000 / Syerston, Nottinghamshire ● Grade II listed farmhouse 96 acres
● Range of outbuildings, garaging, This 17th and 18th century Grade II listed entertainments barn, equestrian facilities and farmhouse, located on the edge of a village, a 3 bedroom barn conversion Contact: Savills Nottingham
is available as a whole or in 3 lots. ● Arable land subject to a short term FBT 0115 934 8123
Superb residential arable and livestock farm Under offer
Brancote Key features Guide £2,250,000 / Tixall, Staffordshire ● 7 bedroom Victorian farmhouse 213 acres
● 3 bedroom cottage
Brancote Farm is situated in an Area of ● 47,000 sq ft of outbuildings
Outstanding Natural Beauty. ● Good quality arable and grassland Contact: Savills Telford 01952 239 500
SAVILLS FARM SALES LIST 08
p3-11 North and midlands final2.indd 8 14/05/2013 11:15 EAST YORKSHIRE,NORTH YORKSHIRE | NORTH& MIDLANDS
Flexible family house with equestrian facilities
Manor Farm Key features Guide £1,000,000 / Bempton, East Yorkshire ● Spacious period family house with self 28.66 acres contained annexe
Manor Farm is an attractive and spacious ● Converted granary, stables and tack room
Grade II listed family house with flexible ● All weather arena, grass paddocks and Contact: Savills York accommodation, set in landscaped gardens. agricultural land 01904 617 800
Attractive country property with equestrian facilities
Hanging Hill Farm Key features Guide: £1,340,000 / Malton, North Yorkshire ● Spacious 3 bedroom house and separate cottage 120 acres
● Productive farmland
Set in undulating productive farmland with a ● Horse boxes and sand arena
spacious farmhouse and additional ● Amenity lake and cabin Contact: Savills York
accommodation. ● Available in lots 01904 617 800
SAVILLS FARM SALES LIST 09
p3-11 North and midlands final2.indd 9 14/05/2013 11:17 NORTH& MIDLANDS | NORTH YORKSHIRE, LINCOLNSHIRE
Detached Georgian farmhouse
Versatile property in private setting Under offer
Huddlestone Grange Key features Excess £700,000 / Sherburn In Elmet, ● A stone built four bedroom farmhouse in 46.92 acres North Yorkshire need of renovation
● Modern farm buildings
In need of modernisation, this substantial ● Grass paddocks Contact: Savills York
Georgian farmhouse offers great potential. ● Productive, well drained Grade 2 arable land 01904 617 800
Highly sought after area Attractive period family house
Under offer Priory Farm Sheepwalk Farm Thorpe Tilney, Lincolnshire Escrick, North Yorkshire
Key features Key features
● An immaculate 5 bedroom barn conversion ● 5 bedroom house ● Extensive range of traditional
● A charming 3 bedroom cottage farm buildings ● Modern farm buildings
● Versatile and productive Grade 3 land in a single block ● Pair of 3 bedroom semi detached cottages
● Available as a whole or in 3 lots ● Grass paddocks and agricultural land Guide £2,165,000 / 182 acres £1,500,000 / 109.33 acres Contact: Savills Lincoln 01522 508 933 Contact: Savills York 01904 617 800
SAVILLS FARM SALES LIST 10
p3-11 North and midlands final2.indd 10 14/05/2013 11:18 NORTH YORKSHIRE | NORTH& MIDLANDS
Well equipped training and equestrian yard
Lilac Farm Key features Guide £825,000 / Malton, North Yorkshire ● Spacious family house 11.56 acres
● 28 stables
An exceptionally well equipped training yard ● 3 1/2 furlongs oval gallop
in a private position close to the village of ● All weather lunge ring Contact: Savills York Yedingham. 01904 617 800
Sought after location
Family home with equestrian facilities
Manor House Cottage Key features Guide £1,000,000 / Thirsk, North Yorkshire ● Spacious 4 bedroom family house 41.5 acres
● 1 bedroom annexe
A comfortable family home with excellent ● 10 stables and 3 pony boxes
equestrian facilities at the foot of the ● Outdoor sand arena Contact: Savills York Hambleton Hills. 01904 617 800
SAVILLS FARM SALES LIST 11
p3-11 North and midlands final2.indd 11 10/05/2013 08:39 East FUTURE GROWTH FAVOURS LARGE PARCELS OF TOP-QUALITY ARABLE LAND OR WELL-LOCATED HOLDINGS
s a note of caution beginning Christopher, “but it has helped prices rise neighbouring farmers’ positions can to creep into the farmland for the eighth successive year — by 8.8% affect outcomes.” I market? Christopher Miles of last year. Good arable achieved £8,000 In general, though, demand is for big Savills Norwich thinks per acre, but more in many cases; blocks of bare land, which attracts perhaps it is. “After two poor years, £12,500 per acre was the peak last year. strong interest from farmers and farmers are understandably cautious, Future growth will favour top-quality or investors. “Investors are a real strength,” although in the East many farmers avoided well-located holdings. Other types of land Adrian says. “They want large parcels the worst,” he says. are beginning to tread water in terms of with the quality for a reliable harvest.” “A good commercial farm in Norfolk price, so the gap is set to widen.” This year looks set to remain steady. would now achieve over £8,000 per acre. This includes Grade 3 arable land, Christopher expects values to start But how long can this last in the face of which averaged £7,300 per acre last year levelling out but overall the outlook is fair. CAP reform, volatile wheat prices, rising (up 5.9% on 2011); poor quality arable “I am cautiously optimistic,” he says. at just over £5,400 (up 6.6%) and “There’s no prospect of values nose- Grade 3 pasture at £3,250. Predicting diving — too many positives outweigh Lack of what land will command a premium is the negatives. Limited supply should supply has not straightforward, however, as Adrian sustain and strengthen values.” helped prices rise points out. “Of course good quality land will for the eighth achieve higher prices,” he says, “but it Contact Details successive year” can be hard to tell what constitutes good Christopher Miles quality; yield is often less of a driver of Christopher Miles value than location and who happens to Savills Norwich be active in the market at the time. There 01603 229 235 are numerous variables involved, and the [email protected] input costs and the possibility of a market is the only judge of them. disappointing harvest this year? Values are “Buyers are discerning and very aware Adrian Wilson near the level at which it must be tempting of individual circumstances. So values Savills Cambridge for some farmers to sell off-lying land.” often depend on a micro-market — 01223 347 231 Adrian Wilson of Savills Cambridge within the county, or even within a [email protected] agrees: “Last year we heard comments five-mile radius, local conditions and that things were starting to look expensive.” However, given the small amount of land coming onto the market, sellers can relax for the time being. In 2012 16,000 acres of farmland were publicly marketed in the East, compared with 21,700 acres in 2011, a decrease of 26%. Significant decreases were seen in Cambridgeshire where the 3,400 acres offered was 55% down on 2011’s 7,571 acres. Decreases were also seen in Suffolk (28%) and Essex (59%). Increases of 107% in Norfolk, 195% in Hertfordshire and 21% in Bedfordshire were not enough to offset the trend. “Lack of supply is a real issue,” says
SAVILLS FARM SALES LIST 12
p12-17 East final.indd 12 14/05/2013 11:42 BEDFORDSHIRE, CAMBRIDGESHIRE | EAST
Land in a desirable location Commercial fenland farm
Land at Home Farm Townmoor & Station Farms Ickwell Green, Bedfordshire Littleport, Cambridgeshire
Key features Key features
● Grade 3 arable and grassland ● Grade 1 fenland
● Former parkland ● 3 bedroom bungalow
● Edge of village location ● Farm buildings
● Available as a whole or in 4 lots ● Available as a whole or in 2 lots Guide £785,000 / 117 acres £2,700,000 / 320 acres Contact: Savills Cambridge 01223 347 231 Contact: Savills Cambridge 01223 347 231
Located in the fertile fens
Large modern dairy unit
Redgate Farm Key features Guide £3,400,000 / Guyhirn, Cambridgeshire ● Cubicle house for 600 cows 307 acres
● 20:40 rapid release parlour
This farm provides the opportunity to ● 4 bedroom house and staff accommodation
acquire a large dairy with the potential for ● Grade 1 farmland Contact: Savills Cambridge further expansion. 01223 347 231
SAVILLS FARM SALES LIST 13
p12-17 East final.indd 13 16/05/2013 11:36 EAST | ESSEX
On the urban fringe of the M25
An easily accessible residential farm
Netherhouse Farm Key features Guide £4,250,000 / Sewardstone, Essex ● Grade II listed 5 bedroom farmhouse 190 acres
● Extensive range of traditional and modern This compact residential farm is located farm buildings
within the M25 between Chingford ● Permanent grassland and woodland in a Contact: Savills Chelmsford and Waltham Abbey. ring-fenced block 01245 293 243
Grade II listed house
Diverse estate in the Thames Gateway
Coryton Estate Key features Price on application / Corringham, Essex ● 5 bedroom farmhouse 845 acres
● Range of modern and traditional farm Diverse estate on the fringe of the buildings, part used for equestrian purposes
Thames Port development. ● Arable, grassland and saltings Contact: Savills Chelmsford
● Subject to various tenancy agreements 01245 293 243
SAVILLS FARM SALES LIST 14
p12-17 East final.indd 14 09/05/2013 13:31 ESSEX | EAST
Scope for development
Arable farm with diversification
Frogs Hall Farm Key features Guide £1,900,000 / Takeley, Essex ● Two 3 bedroom houses 133 acres
● Range of buildings
Arable farm close to Stansted and A120. ● Grade 2 arable land
● Strategic location Contact: Savills Cambridge
● Established riding centre 01223 347 231
Modern eco-home
Ecological smallholding
Lower Goulds Farm Key features Price on application / Bures, Essex ● 5 bedroom eco-house 68 acres
● Essex Barn with planning permission for 3 68 acre grassland farm, with new build low bedroom house
energy farmhouse. ● Studio and range of farm buidlings Contact: Savills Chelmsford
● Permanent grassland in a ring-fenced block 01245 293 243
SAVILLS FARM SALES LIST 15
p12-17 East final.indd 15 09/05/2013 13:31 EAST | HERTFORDSHIRE
Far reaching views
Spacious equestrian property Under offer
Low Farm Key features Guide £1,750,000 / Royston, Hertfordshire ● 6 bedroom house 82 acres
● 20 boxes and outdoor mènage
This substantial house comes with extensive ● Extensive watered paddocks
equestrian facilities and impressive views over ● River meadows Contact: Savills Cambridge the countryside. 01223 347 218
Grade II* listed manor house
Attractive ring-fenced residential farm
Old Ramerick Manor Key features Guide £4,000,000 / Farm ● Grade II* listed manor house 248 acres Ickleford, Hertfordshire ● 2 cottages
● Range of traditional farm buildings
An impressive Grade II* manor house set in ● Grade 2 arable and grassland Contact: Savills Cambridge 248 acres of arable and grassland. 01223 347 231
SAVILLS FARM SALES LIST 16
p12-17 East final.indd 16 09/05/2013 13:31 SUFFOLK | EAST
Modern country living
Enviable rural setting
Kinvara Manor Key features Guide £2,890,000 / Whepstead, Suffolk ● 5 bedroom house 152 acres
● 3 bedroom cottage
Substantial modern country house ● Grade 2 and 3 arable land
surrounded by a parkland garden. ● Farm buildings Contact: Savills Cambridge 01223 347 231
Productive bare land
Block of commercial farmland Under offer
Land at Debach Airfield Key features £1,500,000 / Woodbridge, Suffolk ● Good quality commercial farmland 185 acres
● Good road access
Good quality farmland in an attractive and ● SPS entitlements popular location close to the Suffolk Heritage Contact: Savills Ipswich Coast. 01473 234 822
SAVILLS FARM SALES LIST 17
p12-17 East final.indd 17 14/05/2013 11:21 South West VALUES DEPEND LARGELY ON LOCATION BUT THE QUALITY OF THE LAND IS CRUCIAL FORA TOP SALE
he South West saw the supply of publicly marketed farmland shrink in 2012, by T 19% overall. However, this figure masks fluctuations. In Devon, supply fell by 50% to 4,769 acres (from 9,470 acres in 2011); in Cornwall by 20%; and in Dorset by 7%. Somerset, though, saw a 100% increase, to 4,724 acres. This restricted supply underpinned a strong market. “There wasn’t a huge amount of land on offer — 17,933 acres in total, compared with 22,112 acres in 2011,” says Penny Dart of Savills Exeter. “But we handled a good share of what was available. “We saw outstanding demand for size and for locations suitable for early commercial units: big blocks of arable Corporate cropping,” says Penny. land, and equipped farms. Demand for “There is also strong demand for land residential farms was weaker; investors buyers are suitable for growing potatoes or bulbs; continue to be major players in the market, paying a premium our office’s biggest sale was Pendarves and they want bare land as a refuge from for locations Farm near Camborne, a 178-acre Inheritance Tax (IHT).” suitable for early daffodil farm which achieved close to So what does this mean for values in the its £2.25 million guide. South West? Last year the average value cropping” Penny Dart “Also in demand are farms that have of prime arable land rose by 12.5% diversified into leisure, especially if they are compared with 2011 prices, to £7,500 per handy for sailing on the south coast or acre. This compares favourably with the surfing on the north. Farms like Trevear UK average rise of 10.2%, to £7,600 per buyers, who are returning to the market on Farm near Padstow: a 76-acre holding acre. Grade 3 arable land rose 8.8% to the back of the growing difference whose farm buildings had planning £6,100 per acre, while prime dairy between London and country prices. permission for conversion to holiday lets, increased by 14.2%, to £6,600 per acre. “Buyers can get ever more for their money offered at a guide of £1.5 million.” “Values depend largely on location. down here,” says Penny. “Even so, realistic Penny anticipates a similar market over Whilst prime arable land averaged £7,600 pricing is essential where residential the next year, with prices maintained but per acre, some prime land in a good elements represent a significant proportion limited choice. “I don’t anticipate a location has achieved £12,000 per acre,” of a farm’s value. A prime example of such significant surge in supply, but what does says Penny. “These values should be a property is Bradstone Manor Farm, near come on I expect to sell well.” treated with caution,” she warns. “The Tavistock: 469 acres with a classic difference between top-quality arable and farmhouse that sold to a lifestyle buyer at a mediocre pasture land is widening, with guide of £4.75 million. Our biggest sale of Contact Details the latter averaging £5,000 per acre. 2012 was the 543-acre Walreddon Manor Quality is crucial for a top sale, and not all estate, near Tavistock, which sold well at a Penny Dart land achieves headline prices. For guide price of £6.5 million.” Savills Exeter instance, with 2012 being a very wet year, Cornwall also saw sustained interest for 01392 455 747 poorly drained land is struggling.” bare commercial land. “Farmers and [email protected] Quality is also essential for lifestyle corporate buyers are paying a premium for
SAVILLS FARM SALES LIST 18
p18-24 Southwest final2.indd 18 14/05/2013 11:43 SOMERSET | SOUTH WEST
Private rural location
A countryman’s paradise
Stone Farm Key features Excess £3,750,000 / Exford, Somerset ● Fine Grade II* listed Georgian manor house 586 acres
● Period outbuildings, including 2 bedroom Built in the mid to late 18th century, this coachhouse, stabling and a modern bungalow
beautiful manor house is situated within its ● Modern and versatile farmyard Contact: Savills Exeter
own parkland. ● Parkland, grazing and enclosed moorland 01392 455 747
Wildlife and sporting appeal
Shircombe Farm Key features Guide £1,950,000 / Hawkridge, Exmoor ● Modernised farmhouse 182 acres
● Holiday cottage
Modernised farmhouse with fabulous wildlife ● Versatile modern farm building
and sporting appeal, including “Shircombe ● Productive pasture Contact: Savills Exeter Brake” and “Danes Brook”. 01392 455 747
SAVILLS FARM SALES LIST 19
p18-24 Southwest final2.indd 19 16/05/2013 11:37 SOUTH WEST | DEVON
With commercial woodland
Productive arable land
Land at Ashwater Key features Guide £1,650,000 / Beaworthy, Devon ● Extensive block of productive arable land 301.24 acres
● Commercial woodland
The land is divided into a number of good ● Modern farm building
sized enclosures to form a very useful ● Potential to create new farm holding (STP) Contact: Savills Exeter
ring-fenced holding. ● Road frontage 01392 455 747
Large agricultural unit
Productive grassland and farm buildings Under offer
Coombe Park Key features Guide £1,375,000 / Lynton, Devon ● Extensive block of productive grassland 414.83 acres acres
● Modern farm buildings
Coombe Park is spectacularly situated, ● Potential to create new farm holding (STP)
offering farming, conservation, shooting, ● Road frontage Contact: Savills Exeter
sporting and amenity potential. ● Agricultural, sporting and amenity potential 01392 455 747
SAVILLS FARM SALES LIST 20
p18-24 Southwest final2.indd 20 10/05/2013 08:35 DEVON, CORNWALL | SOUTH WEST
Development opportunity
Tregirls and Key features Guide £945,000 / Trespettigue ● Farmhouse and annexe for restoration 91.62 acres Altarnun,Cornwall ● Traditional farm buildings for conversion to residential, live work unit and holiday Quiet rural setting with potential to restore accommodation Contact: Savills Truro
the main house and the adjacent barn. ● Attractive and productive pasture land 01872 243 222
Well positioned land and buildings
Commercial and residential opportunities Sold
Land and buildings Key features Guide £660,000 / at Liverton ● Extensive complex of modern buildings and yard 28.12 acres Devon ● Workshops, offices and agricultural uses
● Strategically located land
Productive arable land and a complex of ● Excellent communication links to the A38 Contact: Savills Exeter
buildings with excellent access to the A38. ● Productive level arable land 01392 455 747
SAVILLS FARM SALES LIST 21
p18-24 Southwest final2.indd 21 14/05/2013 11:24 SOUTH WEST | DEVON
An extensive run of arable, pasture and woodland Sold
Land at Dragdown Hill Key features Guide £570,000 / and Nethercott ● Productive arable and pasture land 136.26 acres Spreyton, Devon ● Natural and planted mixed woodland
● Amenity and sporting opportunities The land is situated close to Spreyton, a small Contact: Savills Exeter rural village to the north of Dartmoor. 01392 455 747
Plenty of potential
Mid Devon holding
Deepaller Farm Key features Guide £970,000 / Tiverton, Devon ● Courtyard of traditional farm buildings 85 acres with potential (STP) Non-listed traditional farmhouse with ● Modern farm buildings ● Productive pasture land with ponds and scope for improvement. Contact: Savills Exeter woodland 01392 455 747
SAVILLS FARM SALES LIST 22
p18-24 Southwest final2.indd 22 16/05/2013 11:37 DEVON| SOUTH WEST
Heart of Exmoor National Park
Spectacular hill farm with potential Sold
Pickedstones Key features Guide £1,750,000 / Simonsbath, Exmoor, Devon ● Farmhouse and adjoining courtyard of 324.15 acres traditional buildings with potential (STP)
A comfortable farmhouse set in an attractive ● 3 bedroom bungalow
courtyard of traditional buildings within one ● Further traditional and modern farm buildings Contact: Savills Exeter
of the UK’s great unspoilt landscapes. ● Productive pasture and woodland 01392 455 747
Farmhouse in stunning location
Lower Highleigh Key features Guide £1,175,000 / Exebridge, Dulverton ● 5 bedroom farmhouse with conservatory 88.32 acres
● South-facing gardens, plus summerhouse
Charming farmhouse surrounded by ● Versatile outbuildings
productive pasture and mature woodland with ● Sheltered and productive pasture within a Contact: Savills Exeter an attractive stream. ring fence, mature woodland and a stream 01392 455 747
SAVILLS FARM SALES LIST 23
p18-24 Southwest final2.indd 23 14/05/2013 11:26 CORNWALL, DEVON | SOUTH WEST
Grade II* manor house
Outstanding historic manor farm Sold
Bradstone Manor Key features Guide £4,750,000 / Bradstone, Tavistock ● Historic manor and gatehouse 470 acres
● Pair of 2 bedroom cottages
Ancient woodland, productive arable and ●Traditional buildings with potential
pasture land surround the manor and ● Modern farm buildings Contact: Savills Exeter
farmstead providing privacy and protection. ● Established livery yard with 2 bedroom flat 01392 455 747
Residential farm with far reaching views to the Camel Estuary North Cornwall lifestyle farm
Pawton Gate Farm Hendra Farm Wadebridge, Cornwall Camelford, Cornwall
Key features Key features
● 4 bedroom farmhouse (AOC) ● Modern farm building ● 4 bedroom bungalow ● Modern farm buildings and
● Attractive pasture ● Fantastic views to the stables ● Attractive pasture ● Fantastic views over open countryside North Cornwall coast and to Bodmin Moor Guide £500,000/ 30 acres Guide £575,000/ 29.90 acres
Contact: Savills Truro 01872 243 222 Contact: Savills Truro 01872 243 222
SAVILLS FARM SALES LIST 24
p18-24 Southwest final2.indd 24 14/05/2013 11:26 South INTERNATIONAL BUYERS, FARMERS AND INVESTORS ARE COMPETING ACROSS THE REGION FOR LARGE BLOCKS OF LAND
ith top prices reaching land. “Large units of Grade 3 arable are arable farm with no house or buildings, £10,000 per acre, there is achieving up to £10,000 per acre,” he which sold above its guide price of £6 some uncertainty about how says. “Last year no sizeable parcels were million. As the first large block of land to W much longer farmers will be traded for less than £9,000 per acre.” come to market for a while, it was a real prepared to pay premium prices. “The big These values may be underpinned by test. Its guide price was £7,000 per acre; it question is when will farmers decide that lack of supply, but an increase in private achieved £10,000.” enough is enough, especially after last sales masks the amount of land actually Christopher saw similar success with year’s poor harvest and this year’s late being sold. “More and more individuals the 654-acre Court Lodge Farm at planting?” says David Cross of Savills want discretion,” says David, “so a lot of Ewhurst Green. “It generated competition Salisbury. “There is still appetite out there, land is being traded off market.” and sold to a local farmer for more than its but over the next 12 to 18 months we will Buyers in 2012 varied across the South. guide of £4.75 million.” need to keep an eye on farm incomes. We In the South East, says Christopher Spofforth of Savills Haywards Heath, local and international lifestyle buyers were Contact Details There can active, but there were few investors on the be a‘divorce’ scene. Further west, however, investors David Cross value in selling are major players, according to David. Savills Salisbury Farmers are active throughout the region. 01722 426 813 land separately” Last year the strongest demand was for [email protected] George Syrett blocks of bare arable land. Indeed, George Syrett sees a “divorce” value in selling land Chris Spofforth separately. “Many farmers are taking Savills Haywards Heath advantage of Capital Gains Tax rollover 01444 446 066 expect to see continued growth with a relief after selling land for development and [email protected] slight plateau at £10,000 per acre while reinvesting in agricultural land. buyers get used to five-figure prices.” “Size is now a key measure of quality. George Syrett Still, with less land coming onto the Last year we sold 650 acres at Tufton Savills Winchester market, values should remain solid. In the Warren near Whitchurch. In March this 01962 834 052 South East as a whole, 12,741 acres of year we saw the quick sale of Manor [email protected] farmland were publicly marketed in 2012, a Farm, West Overton, a 665 acre bare decrease of 23% on 2011. County by county, supply contracted even further: by 43% in Hampshire, 57% in Kent, 44% in West Sussex and 46% in Berkshire. East Sussex, though, bucked the trend by recording a 410% increase, to 2,585 acres. Not surprisingly, prices in 2012 continued to rise. In the South East, the average value of prime arable land rose 10.6% to £7,130 per acre; Grade 3 arable land saw 18% growth, to an average of £6,870 per acre; and poor arable land rose by 8%, averaging £5,400 per acre. George Syrett of Savills Winchester reports international buyers, farmers and investors competing for blocks of bare
SAVILLS FARM SALES LIST 25
p25-33 South final2.indd 25 14/05/2013 11:44 SOUTH | DORSET
Far reaching views
Dorset jewel Sold
Mappowder Court Key features Guide £7,000,000 / Mappowder, Dorset ● Fine Grade II* listed manor house with 5 674 acres bedrooms and far reaching views
Attractive Grade II* manor house with ● Range of 19 stables, horsewalker, 3/4 mile extensive stabling, set in glorious rolling all-weather gallop, paddocks Contact: Savills Salisbury
Dorset countryside. ● Fishing lakes 01722 426 810
Productive arable farm in the heart of Dorset Under offer
West Pimperne Farm Key features Guide £2,400,000 / Blandford Forum, Dorset ● Substantial 4 bedroom farmhouse 149 acres
● 2 semi detatched cottages with land
Ring-fenced arable farm within the ● Brick and flint traditional barn and range Cranborne Chase. of modern farm buildings Contact: Savills Salisbury
● Productive Grade 3 arable land 01722 426 810
SAVILLS FARM SALES LIST 26
p25-33 South final2.indd 26 14/05/2013 11:28 DORSET | SOUTH
Compact ring-fenced estate
Well located in south Dorset
Culeaze Estate Key features Guide £3,000,000 / Wareham, Dorset ● 5 bedroom main house, including 3 flats, an 60 acres annexe and a holiday cottage
This is a charming estate with ● Range of farm buildings and stables
fishing rights on the River Piddle. ● Grazing and woodland, and fishing on the Contact: Savills Salisbury River Piddle 01722 426 810
A charming period farmhouse set at Productive arable and grassland the end of a long private drive
Under offer Little Sharpshaw Farm Little Moors Farm Frome, Dorset Wimborne, Dorset
Key features Key features
● Block of productive arable and grassland ● Pair of ● Grade II* listed 5 bedroom farmhouse ● Private drive and walled
semi detached cottages ● Road frontage ● Option for a solar park garden ● Range of traditional and modern farm buildings
(subject to planning) ● Productive farmland Guide £2,500,000 / 250 acres Guide £1,500,000/ 98 acres
Contact: Savills Salisbury 01722 426 810 Contact: Savills Salisbury 01722 426 810
SAVILLS FARM SALES LIST 27
p25-33 South final2.indd 27 14/05/2013 11:28 SOUTH | EAST SUSSEX
Grade II* listed house
A prestigious country estate
Isfield Place Key features Guide £9,500,000 / Isfield, East Sussex ● Grade II* listed house 311 acres
● 2 cottages and 1 flat
Set in beautiful rolling countryside, this ● Range of farm buildings
magnificent estate is a mere 55 miles south ● Arable, pasture and woodland Contact: Savills London
of London. ● Fishing and shoot 020 7016 3780
Rarely seen on the High Weald Sold
Stonehouse Key features Guide £3,250,000 / High Hurstwood, East Sussex ● 6 bedroom listed farmhouse with annexe 160 acres
● Arable, pasture and woodland
Exceptional listed farmhouse in a peaceful ● Secluded location
and secluded location. ● As a whole or in lots Contact: Savills Haywards Heath 01444 446 066
SAVILLS FARM SALES LIST 28
p25-33 South final2.indd 28 16/05/2013 11:39 EAST SUSSEX | SOUTH
Magnificent equestrian facilities
Nodes Farm Key features Guide £1,950,000 / Magham Down,East Sussex ● Beautifully presented 5 bedroom house 52 acres
● Outstanding views
A superb equestrian farm of approximately ● Superb equestrian facilities, 52 acres, with breathtaking views towards the including 4.6 furlong all-weather gallops Contact: Savills Haywards Heath
South Downs. ● Grooms’ accommodation 01444 446 066
Equestrian and grassland farm with A charming period farmhouse set at the end of a development potential (subject to planning) long private drive, surrounded by its own land With planning consent
Rare opportunity to build your own farm
Court Farm Key features Guide £975,000 / Rotherfield, East Sussex ● Ring-fenced grassland farm 114 acres
● Planning consent for farmhouse, buildings This agricultural land of 114 acres has and equestrian facilities
planning consent for a 5 bedroom ● Scenic edge of village location Contact: Savills Haywards Heath farmhouse plus a range of other buildings. 01444 446 066
SAVILLS FARM SALES LIST 29
p25-33 South final2.indd 29 10/05/2013 08:41 SOUTH | HAMPSHIRE
Stunning moated manor
An estate of medieval origins
Beaurepaire Park Key features Price on application / Bramley, Hampshire ● Moated manor house and 3 cottages 248.9 acres
● Cloistered courtyard incorporating office, This magnificent manor house and historic games room, orangery and store room
park extending over 248 acres is within easy ● Tennis court, stable yard, lakes and streams Contact: Savills London
reach of the M3 and M4. ● Parkland, arable land, woodland 020 7016 3780
Grade II farmhouse
Attractive residential farm
Hensting Farm Key features Guide £4,500,000/ Owslebury, Hampshire ● 7 bedrooms, 4 reception rooms 84.2 acres
● Cottage and Grade II* thatched barn
Set in the idyllic Hensting Valley, this is an ● Extensive range of farm buildings, 15 stables impressive farmhouse with a range of and an old granary Contact: Savills Winchester
outbuildings including a 17th century barn. ● As a whole or in lots (Lot 1 Guide £2.85m) 01962 834 052
SAVILLS FARM SALES LIST 30
p25-33 South final2.indd 30 10/05/2013 08:41 HAMPSHIRE, WEST SUSSEX | SOUTH
Exceptional sporting estate
Outstanding natural beauty
The Buttermere Estate Key features Price on application / Hampshire ● A ring-fenced sporting estate with a 530 acres substantial principal house
This is an exceptional, compact sporting ● 3 staff/guest cottages, garaging, stabling, estate of the highest calibre in a highly outbuildings and farm buildings Contact: Savills London
accessible area. ● Attractive farmland and woodland 020 7016 3780
Productive block of arable and pasture land Diversity and Downland views
Land at Hawk’s Nest Farm Eastlands Fareham, Hampshire Billingshurst,West Sussex
Key features Key features
● Good quality arable and pasture land in a single block ● About 135 acres ● 4 bedroom house
● Grazing paddocks ● Main road access ● Landscaped grounds including lakes, pasture and woodland
● Available as a whole or in 6 lots ● 2 bedroom bungalow ● Substantial, modern barn with shop and event venue facilities Guide £1,200,000 / 139.65 acres Guide £2,000,000/ 135 acres Contact: Savills Winchester 01962 834 052 Contact: Savills Haywards Heath 01444 446 066
SAVILLS FARM SALES LIST 31
p25-33 South final2.indd 31 14/05/2013 11:30 SOUTH | KENT, SURREY
Secluded rural setting
Small but tranquil Kentish Farm
Upper Boy Court Farm Key features Offers in excess of Headcorn, Kent ● Pretty period family house with 6 bedrooms £1,500,000 / 71 acres and 4 reception rooms
A handsome period country home, with ● Swimming pool, tennis court, garaging
excellent recreational facilities occupying a ● Well maintained gardens, pasture and Contact: Savills Haywards Heath superb rural setting. woodland in a secluded rural setting 01444 446 066
Compact sporting estate
The Holt Key features Guide £3,500,000 / Chelsham, Surrey ● 6 bedroom house, 2 cottages, outbuildings 63 acres
● Equestrian facilities and established shoot
It is superbly located for London yet occupies ● Cinema/media room, gym, sauna, snooker an oasis of tranquillity just moments from room, and children’s play village Contact: Savills Haywards Heath
the amenities of Warlingham. ● Central London approximately 18 miles 01444 446 066
SAVILLS FARM SALES LIST 32
p25-33 South final2.indd 32 14/05/2013 11:32 WEST SUSSEX, WILTSHIRE | SOUTH
Prime arable farm within the Pewsey Vale An attractive accessible amenity
Dhillon Farm Manor Farm Pewsey, Wiltshire Ifield Wood, West Sussex
Key features Key features
● Grade I level fertile farmland ● Abstraction licence ● Road frontage ● Attractive barn style farmhouse, 6 bedrooms and 3 receptions
● Modern farm building ● River frontage along The River Avon ● Equestrian facilities ● Modern farm buildings
● In an Area of Outstanding Natural Beauty ● Additional cottage by separate negotiation
● Available as a whole or in two lots Guide £1,350,000 / 97 acres Guide £1,975,000/ 96 acres Contact: Savills Salisbury 01722 426810 Contact: Savills Haywards Heath 01444 446 066
Productive Grade 2 and 3 arable land Sold
Land at Manor Farm Key features Guide £6,000,000 / Marlborough, Wiltshire ● Capable of growing a wide range of crops 665 acres
● Planning permission for a new grain store This productive land is in an Area of Outstanding Natural Beauty. Contact: Savills Salisbury 01722 426 810
SAVILLS FARM SALES LIST 33
p25-33 South final2.indd 33 14/05/2013 11:33 Central LIMITED SUPPLY AND RISING VALUES CHARACTERISE THE MARKET WITH STIFF COMPETITION FOR THE RIGHT LAND
he familiar situation of limited supply and rising values characterised 2012 in the T Central region, providing the foundations for a robust market. “The farmland market continued to go from strength to strength last year,” says Richard Binning of Savills Oxford, “although the high values achieved reflected a marked differentiation between big blocks of arable with national appeal and small parcels that are reliant on local markets, in which there are also big variations.”
Our advice is still to market land publicly to ensure maximum exposure and achieve the strongest says. “Although there are signs of more push prices to £12,000 per acre. Farmers sale” Philip Hoare land coming on to the market, they are looking to expand are underpinning the relatively small parcels. The 856-acre Letton market; there is strong sentiment in the Court in Herefordshire represents half of the industry, despite two difficult years of very land currently available in the county.” poor weather.” Our research shows a significant fall last “With supply continuing to be limited, year in the volume of land marketed in there is keen competition for the right land,” Oxfordshire, where supply fell to 2,411 says Philip Hoare of Savills Banbury. “Last Contact Details acres — a 26% reduction from the 3,278 year we marketed a 550-acre arable farm acres offered for sale in 2011. A drop of at Milton Keynes. Out of 18 potential Richard Binning 33% was recorded in Gloucestershire, and purchasers, we had 16 viewings and six Savills Oxford in Northamptonshire supply fell even further, offers.That farm was being offered privately; 01865 269 179 by 54%; Berkshire saw no land offered for private sales now make up a substantial [email protected] sale at all. However, supply increased in part of the market. However, with Herefordshire (27%) and in Worcestershire impressive prices being achieved on the Philip Hoare (23%), while in Warwickshire there was a open market, our advice is still to market Savills Banbury huge increase of 338%. land publicly to ensure maximum exposure 01295 228 050 Douglas Mackellar of Savills Cheltenham and achieve the strongest sale.” [email protected] sees the same lack of choice characterising The competition that public marketing this year’s market too. “There was very little can generate saw values rise last year. Douglas Mackellar land available in the Cheltenham area last “Values in Herefordshire continue to be Savills Cheltenham year, and in the Cotswolds— where impressive,” Douglas says. “Sales at 01242 548 011 amenity use is as big a driver as agriculture £10,000 per acre are not uncommon, and [email protected] — there were very limited opportunities,” he in some cases we have seen competition
SAVILLS FARM SALES LIST 34
p34-37 Central final2.indd 34 16/05/2013 11:41 BUCKINGHAMSHIRE, GLOUCESTERSHIRE | CENTRAL
Easy access to London
Commutable farming
Raans Farm Key features Excess £4,500,000 / Amersham, Buckinghamshire ● 6 bedroom Grade II listed farmhouse 198 acres
● 2 cottages (subject to AOC)
Situated in the Chiltern Hills, Raans Farm is ● Farm buildings and poultry unit
an attractive residential farm within easy ● Arable and pasture land Contact: Savills Banbury striking distance of London. 01295 228 050
An exciting opportunity
Prime compact Cotswold estate
Whalley Farm Key features Guide: Offers over Cheltenham, Gloucestershire ● Grade II listed 6 bedroom farmhouse £7,700,000 / 495 acres
● 4 bedroom farmhouse with planning Rare Cotswold mixed holding of 495 acres permission for a substantial country house
of beautiful rolling countryside with ● 2 cottages and 2 offices Contact:Savills Cheltenham
planning permission. ● Arable and pasture 01242 548 020
SAVILLS FARM SALES LIST 35
p34-37 Central final2.indd 35 14/05/2013 11:45 CENTRAL | HEREFORDSHIRE, NORTHAMPTONSHIRE, BUCKINGHAMSHIRE
Beautiful historic setting
Diverse sporting and farming estate
Letton Court Key features Price on application / Hereford, Herefordshire ● 7 bedroom house 856 acres
● 10 further houses and cottages
This picturesque, 865 acre estate between ● Arable and pasture
Hereford and Hay-on-Wye is mentioned in ● Shooting and fishing Contact: Savills Cheltenham the Domesday Book. 01242 548 020
An accessible block of arable land, ideal for Strategic agricultural investment local farmers to add to existing holdings
Under offer Dodford Coleshill Daventry, Northamptonshire Beaconsfield, Buckinghamshire
Key features Key features
● Arable land subject to Agricultural Holdings ● Arable Act 1986 tenancy ● Small area of woodland
● Woodland ● Road frontage
● Mineral reserves Guide: £700,000/ 30 acres Guide £415,000/ 52 acres Contact: Savills Banbury 01295 228 050 Contact: Savills Banbury 01295 228 050
SAVILLS FARM SALES LIST 36
p34-37 Central final2.indd 36 16/05/2013 11:41 OXFORDSHIRE, WORCESTERSHIRE | CENTRAL
Residential farm with great potential
Fawler Farm Key features Guide £1,950,000 / Wantage, Oxfordshire ● Farmhouse with permission for replacement 123 acres 8,000 sq ft country house
An ideal opportunity to build your dream ● Separate barn conversion
home set in 123 acres with views to White ● Arable, pasture and woodland Contact: Savills Oxford Horse Hill. 01865 269 179
Ideal rural retreat
Something for the weekend
Halesend Key features Guide £1,700,000 / Malvern, Worcestershire ● Woodland 306 acres
● Arable and pasture
The perfect weekend retreat with sporting, ● 3 cottages
amentity and investment opportunities. ● Shooting Contact:Savills Banbury 01295 228 050
SAVILLS FARM SALES LIST 37
p34-37 Central final2.indd 37 14/05/2013 12:01 Scotland IT IS A BOOMING MARKET WITH FORECASTED GROWTH OF 40% BRINGING STRONG DEMAND FROM BOTH FARMERS AND INVESTORS
farmhouses will continue to sell well.” Last year saw values increase by 10.7%. Bare arable land ranged from £4,500-£7,500 per acre; silage ground or ploughable pasture commanded £3,000- £4,000 per acre and upland pasture averaged £800-£1,200 per acre. “Although tree planters continue to bid competitively, they have become more cautious; last year plantable land fetched £500–£700 per acre, compared with nearer £1,000 in 2011. However, the Scottish Government’s woodland planting target of 10,000 hectares per year for the next 10 years and new grant funding available from 2014 are likely to stimulate renewed interest in forestry land.” Overall, therefore, Charles’s outlook is positive. “Our forecasts suggest growth of cotland’s supply of publicly 40% in the UK over the next five years,” he marketed farmland continued Tight supply says. “Given the 115% increase in to be the major influence on Scotland over the past seven years, this S values in 2012. In contrast to south of doesn’t seem unrealistic. other regions, Scotland’s supply increased the border should “I expect to see a widening gap between significantly, by 25% to 38,801 acres, encourage buyers prime and average arable land. Depending compared with 30,987 acres in 2011. This north” Charles Dudgeon on the outcome of the current SFP round, represents 29% of all the farmland purchasers are likely to rely more on the marketed in the UK last year, and quality of the arable rather than the subsidy. compared with the 14% drop in supply “Nevertheless, larger stock farms of seen across England in 2012, it is a healthy 750 acres plus with outstanding features supply. But it is low compared with the There is strong demand from farmers such as fixed equipment or location, regular supplies of 60,000 acres a year and investors — Charles reports 80% of or with very good silage ground, will before 2002. So why isn’t more land buyers in Scotland are farmers, 20% continue to sell well. Tight supply south coming to the market? investors — but, he adds, “for a boom of the border, coupled with land prices “There is no real overwhelming reason to market it is surprising that only just over increasing at a greater rate in England, sell,” says Charles Dudgeon of Savills half of the farms on the market last year makes Scotland good value and should Edinburgh. “Interest rates remain low and actually sold. Most of the unsold units are encourage buyers north.” income from the Single Farm Payment stock farms of under 200 acres, and are (SFP) shelters many in a volatile market. therefore deemed less viable. Sales are, therefore, driven mainly by family “It has also been a tough market for Contact Details restructuring. Debt motivated just 14% of smaller farms whose residential element Savills sales across the UK in 2012, makes up a significant proportion of the Charles Dudgeon consistent with 2011’s 13%. Maybe after value. The demand is for quality arable Savills Edinburgh last year’s difficult harvest and increased land, but I am confident that smaller units 0131 247 3702 costs we will see more bare land sales this in good locations that are well equipped [email protected] year as farmers rebalance the books.” with modern buildings and attractive
SAVILLS FARM SALES LIST 38
p38-41 Scotland final.indd 38 14/05/2013 12:02 BANFFSHIRE, DUNDEE | SCOTLAND
Mild coastal climate
Agricultural estate with Adam mansion
Letterfourie Key features Offers over: £1,755,000, in Buckie, Banffshire ● 11 bedrooms up to 5 lots / 307.59 acres
● 4 principal reception rooms
A delightful combination of an historic ● Arable, grazing and woodland
Adam house, gardens and woodland, ● Available as a whole or in 5 lots Contact: Savills Brechin together with agricultural land. 01356 628 628
Ideal location
Historic Angus estate
Gagie Key features Offers over: £1,500,000 / Duntrune, Dundee ● Fortified laird’s house, 8 bedrooms, 4 90 acres reception rooms
A delightful house of great charm and ● 5 cottages and farm buildings
elegance, which looks out over its own ● Productive farmland, woods, marsh Contact: Savills Brechin gardens and grounds. and pond with low ground shooting 01356 628 628
SAVILLS FARM SALES LIST 39
p38-41 Scotland final.indd 39 09/05/2013 15:07 SCOTLAND | ROSS-SHIRE, ROXBURGHSHIRE
Prime arable farm on the Black Isle with an attractive house
Navity Key features Offers over: £2,500,000 / Cromarty, Ross-shire ● 6 bedroom period house 492 acres
● 3 bedroom bungalow
A highly productive arable farm with ● Extensive farm buildings
a fine house. As a whole or in 2 lots. ● 390 acres prime arable Contact: Savills Edinburgh
● 87 acres grazing 0131 247 3720
Outstanding mixed farm in Lauderdale
Bowerhouse Key features Price on application / Oxton, Roxburghshire ● 5 bedroom farmhouse 630 acres
● 3 cottages
An extensive arable and stock rearing farm ● Buildings for 240 cows and calves
with good stock housing. ● 189 acres arable Contact: Savills Edinburgh
● 435 acres pasture 0131 247 3720
SAVILLS FARM SALES LIST 40
p38-41 Scotland final.indd 40 14/05/2013 12:03 PERTHSHIRE, SOUTH WEST | SCOTLAND
Stunning parkland setting
Exceptionally private Perthshire estate
Kincairney Estate Key features Offers over: £2,500,000 / Dunkeld, Perthshire ● B listed mansion house (9 bedrooms) 169 acres
● Stable block and walled garden
A delightful combination of an historic ● 4 cottages
Georgian house, gardens and woodland, ● Sporting rights and private loch Contact: Savills Edinburgh
together with agricultural land. ● 140 acres of parkland 0131 247 3720
Productive stock rearing Attractive coastal stock farm with and finishing unit outstanding views of the islands Lockerbie, Mull of Kintyre, Dumfries and Galloway Argyll Key features Key features
● 7 bedroom farmhouse ● Excellent modern buildings ● 5 bedroom farmhouse ● 2 additional cottages ● 243 acres pasture and
● Silage ground and pasture 1,542 acres rough grazing and hill 435 acres 1,842 acres Contact: Savills Edinburgh 0131 247 3720 Contact: Savills Edinburgh 0131 247 3720 Coming soon Coming soon
Well equipped compact stock farm Versatile coastal farm on Solway Firth Kirkgunzeon, New Abbey, Dumfries and Galloway Dumfries and Galloway Key features Key features
● 4 bedroom farmhouse, modern and traditional farm buildings ● 111 acres ● 4 bedroom farmhouse ● Cottage ● Modern and traditional buildings
silage/ploughable pasture ● 50 acres permanent pasture ● available in 2 lots ● 156 acres of silage/ploughable pasture and 41 acres of permanent pasture 194 acres 227 acres Contact: Savills Edinburgh 0131 247 3720 Contact: Savills Edinburgh 0131 247 3720 Coming soon Coming soon
SAVILLS FARM SALES LIST 41
p38-41 Scotland final.indd 41 14/05/2013 12:04 Wales GOOD-QUALITY LAND FOR LIVESTOCK AND DAIRY FARMING IS IN GREAT DEMAND FROM FARMERS AND INVESTORS ALIKE
ales has seen a substantial growth in demand for land over recent years, and 2012 W reinforced the trend. “We saw almost daily enquiries from farmers looking for commercial farmland,” says Daniel Rees of Savills Cardiff, “but the general lack of supply has left many potential buyers frustrated. “The majority of those buyers are local landowners, or farmers who are keen to increase their holdings, but we are also seeing more buyers who have been pushed over the border from the Midlands and the South West by rising prices and lack of stock. They are matched by large numbers of investors values for the UK as a whole, which rose but at the same time it does make it 10.7% to £7,600 last year. difficult for farmer buyers to expand and However, local landowners who want a keep the Welsh farming industry strong. Good-quality smaller parcel near their own farm will pay “Farmers have to draw a line commercial £8,000 to £10,000 per acre. Land somewhere when competing with others farmland is doesn’t come on to the market very often for farmland, otherwise values could turn — sometimes for generations — so out to be unsustainable. However, if increasing in landowners want to buy when the farmers see it as a one-off opportunity it is value with a rise of opportunity presents itself, even if it understandable that they will compete 10.2% from 2011” means paying a premium. However, strongly to be the new owners. Daniel Rees these headline-grabbing prices are only “Agricultural sales so far in 2013 have for the best quality holdings, and farmers been dominated by farmers looking to will not pay unrealistic prices for poorer expand their holdings and by farmers land or land that needs improving. looking to relocate from elsewhere due “Commercial buyers and investors are to the lack of supply in their current wanting good-quality arable land and not keen on properties with a large locations. For example, we have had grassland, due to the high levels of residential element; they consider viewings on farms in Monmouthshire from livestock and dairy farming in the region.” anything apart from land to be a waste. farmers in the South West of England. We Like nearly every other region of the We are increasingly splitting estates into have some exciting farms and estates UK, Wales saw supply contract in 2012; lots and selling the principal house coming to the market in 2013 that we are the 6,460 acres publicly marketed separately with a smaller parcel of land. confident will satisfy some of the strong represented a 10% reduction compared “Realistically, the ever strengthening demand that is out there.” with 7,190 acres in 2011. farmland market is almost a double- “This lack of supply has supported the edged sword. With the rising values it is values of what land there is for sale, and easy to understand why some owners are Contact Details good-quality commercial farmland is reluctant to sell and instead keep hold of certainly increasing in value,” says Daniel. their ever-appreciating assets, but this in Daniel Rees “Average values stand at £7,000 per acre turn clearly affects supply. It is great news Savills Cardiff for good-quality farmland — a rise of for prospective vendors that farmland 029 2036 8915 10.2% from 2011, and in line with average values for the best land are rising annually, [email protected]
SAVILLS FARM SALES LIST 42
p42-46 Wales final.indd 42 14/05/2013 12:06 CARMARTHENSHIRE | WALES
Equestrian and grassland farm with A charming period farmhouse set at the end of a development potential (subject to planning) long private drive, surrounded by its own land A delightful setting
Attractive farm in West Wales Under offer
Werncorgam Fawr Farm Key features Guide £1,250,000/ Carmarthen, Carmarthenshire ● Substantial 6/7 bedroom farmhouse with 120 acres 3/4 reception rooms
Werncorgam Fawr Farm is an excellent ● Traditional and modern outbuildings
former dairy farm lying on the edge of ● Views of Towy valley Contact: Savills Cardiff Johnstown and Carmarthen. 029 2036 8915
With good road links
With views over the Towy Valley Sold
Penyrallt Farm Key features Guide £650,000 / nr Carmarthen, ● 4 bedroom farmhouse 120 acres Carmarthenshire ● Traditional and modern outbuildings
● Good road links Traditional farmhouse in need of sympathetic Contact: Savills Cardiff renovation and refurbishment. 029 2036 8915
SAVILLS FARM SALES LIST 43
p42-46 Wales final.indd 43 14/05/2013 12:08 WALES | CARMARTHENSHIRE
Panoramic views of national park
Impressive farm in the Brecon Beacons
Stangau Farm Key features Guide £895,000 / nr Llandovery, Carmarthenshire ● Substantial 5 bedroom farmhouse 50 acres
● Traditional and modern outbuildings
The traditional farmhouse has been ● Dipping shed
renovated and extended to provide a superb ● Extra 20 acres available by negotiation Contact: Savills Cardiff country house finished to a high standard. 029 2036 8915
Good sized stock farm in West Wales
Gwarcoed Farm Key features Guide £1,300,000 / nr Carmarthen Carmarthenshire ● 5 bedroom farmhouse 150 acres
● 2 bedroom cottage
Convenient West Wales farm with 2 dwellings, ● Traditional and modern outbuildings excellent modern stock buildings and a good Contact: Savills Cardiff sized parcel of land. 029 2036 8915
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p42-46 Wales final.indd 44 14/05/2013 12:10 CEREDIGION, POWYS | WALES
Impressive estate in West Wales
Penlan Fawr Farm Estate Key features Guide £2,000,000 / nr Lampeter, Ceredigion ● New 4 bedroom main farmhouse and a 167 acres 3 bedroom farmhouse
Substantial accommodation is available on ● 2 bedroom coach house and a this estate with a main farmhouse and three 2 bedroom cottage Contact: Savills Cardiff
other residential buildings. ● Traditional/modern outbuildings, stables 029 2036 8915
Equestrian and grassland farm with A charming period farmhouse set at the end of a development potential (subject to planning) long private drive, surrounded by its own land Handsome country estate
Exciting sporting estate in Mid Wales
Maesgwynne Hall Estate Key features Guide £2,360,000 / nr Builth Wells, Powys ● Handsome 9 bedroom country house 78 acres
● 2 cottages (3 bedroom and 2 bedroom)
Smaller estates such as this can be wonderful ● Traditional outbuildings
purchases for those who enjoy traditional ● About 78 acres, and sporting rights Contact: Savills Cardiff country pursuits. over about 300 acres 029 2036 8915
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p42-46 Wales final.indd 45 14/05/2013 12:10 WALES | POWYS, MONMOUTHSHIRE
South facing farmland
Ring-fenced farms in a wonderful location
Pwll-y-cwrw and Key features Guide £2,200,000 / Maes-y-llan Farms ● 6 bedroom farmhouse, plus 3 bedroom 139 acres Brecon, Powys farmhouse in need of modernisation ● Modern and traditional farm buildings Beautifully restored principal house and ● Woodland, amenity, stream Contact: Savills Salisbury secondary house surrounded by farmland. ● Available in 2 lots 01722 426 810
Rare opportunity
Delightfully located farm
The Mead Farm Key features Guide £1,900,000 / nr Newport, Monmouthshire ● Excellent dairy farm 180 acres
● Attractive 4/6 bed farmhouse
A delightful farm that enjoys a peaceful edge ● 2 bed cottage
of village location while also being very ● Traditional and modern outbuildings Contact: Savills Cardiff convenient to the M4 road network. 029 2036 8915
SAVILLS FARM SALES LIST 46
p42-46 Wales final.indd 46 14/05/2013 12:14 International THE INTERNATIONAL FARMLAND MARKET OFFERS HUGE OPPORTUNITIES AND THE PROSPECT OF PHENOMENAL GROWTH
avills is a global brand and is the market leader in the The UK land market. “It is logical, choice of S therefore, for us to build location up a presence in the international farmland market,” says Hugh Coghill, is key Savills London. “It is an embryonic market, but one which offers huge opportunities and the prospect of substantial growth. Over the past two or three years we have been developing expert contacts in the prime areas, notably Australia, the Mercosur region of South America, Central Europe, the USA, New Zealand and sub-Saharan Africa.” The appeal of the international land market is its scale (in sharp contrast to the Romania, Poland, the Ukraine and the limited supply we are currently seeing in We have seen Baltic States are all attracting plenty of the UK) and the fact that it is underpinned interest – their appeal enhanced by their chiefly by commodity prices. The ability to growing interest proximity to home and the European produce crops for the global marketplace from investors who are Union support that they can draw on. at competitive prices is effectively the sole looking to maximize With such a vast potential market, it is driver of the market. With income returns capital returns and hard to cite current values; they can vary typically ranging between 3% and 12%, from about $2,000 per hectare in Australia depending on location and risk, investment diversify investment to $25,000 per hectare in New Zealand, in overseas farmland compares extremely portfolios” Hugh Coghill with values in the emerging markets favourably with the UK’s agricultural sector. ranging from $3,500 to $9,000. Naturally, “Since Savills has been active in this prices are affected by scale, availability and market, we have seen growing interest input costs – for more information see from investors,” says Hugh. “Buyers Subsequent challenges depend on the Savills International Farmland Focus. include sovereign wealth funds (China is a amount of risk a buyer is willing to take on. Hugh’s outlook is highly optimistic. “I am hugely important player as it seeks to Purchasing land for improvement can yield in no doubt that the international land establish a long-term food supply, and significant returns: reclaiming “pioneer” market will be of huge interest to investors Middle Eastern countries are also land in places like Uruguay, Brazil and over the next decade,” he says. “It is an significant); family offices, which were early sub-Saharan Africa, and bringing it into immature market for a crucial commodity entrants in this market; and pension funds food production, depends on reliable –food – that can only become more and institutions looking to maximise capital sourcing of water, infrastructure and skilled important as demand increases. This is a returns and diversify investment portfolios.” management, and therefore involves hugely exciting time to be involved.” The challenges that investors face begin careful strategies, substantial investment with the choice of location. Some and significant risk. potentially lucrative areas, such as More risk-averse buyers look to reliable Contact Details Argentina and Saskatchewan in Canada, cropping land in mature markets such as have protectionist policies in place that the USA or Australia, where land is Hugh Coghill restrict foreign investors; others lack the expensive but secure. Mainland Europe is Savills London political stability or will to allow for a safe also a prime focus, especially countries 020 7016 3818 exit, which is a crucial consideration. with plenty of room for improvement. [email protected]
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p47-49 International final.indd 47 14/05/2013 12:23 INTERNATIONAL
Stunning views over the Sierra
Outstanding Andalucian estate
El Matuloso Estate Key features Guide: €18,000,000 / Huelva, Andalucía ● Beautifully presented 15 bedroom house set 925 hectares around courtyards
The Cortijo is set in 925 hectares of pastures, ● Equipped and furnished for 30 guests
mountains and lush Mediterranean ● Staff lodgings and professional kitchen Contact: Jelena Cvjetkovic
vegetation, ideal for hunting and farming. ● Swimming pool and pool house Savills International +44 (0)20 7016 3754
SAVILLS FARM SALES LIST 48
p47-49 International final.indd 2 10/05/2013 09:35 INTERNATIONAL
Immaculate wine estate in the Florentine hills
Ortaglia Key features Guide €12,900,000 / Tuscany, Italy ● Classical 18th century villa 34 hectares
● 2 guest houses
A classical 18th century villa surrounded by a ● 2 swimming pools
mature park, with glorious views over Fiesole ● 11 hectares of vineyards Contact: Jelena Cvjetkovic and Florence. Savills International +44 (0)20 7016 3754
Equestrian and grassland farm with A charming period farmhouse set at the end of a 1042development potential hectar(subject to planninge irrigated) long private drive, surrounded by its own land dairy farm
San Pedro Dairy Key features Price on application / San Pedro, Uruguay ● 50-bale rotary parlour 1,042 hectares
● Significant irrigation reservoir Contact: Hugh Coghill, Savills London
This 1,042 hectare irrigated dairy farm has ● 6 new Zimmermatic centre pivot irrigators +44 (0)20 7016 3818
excellent management in place. ● Turn key operation Stephen Hall, Savills Lincoln +44 (0)1522 508 933
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p47-49 International final.indd 49 16/05/2013 11:42 CONTACTS DIRECTORY
CONTACTS DIRECTORY SAVILLS HAS A TEAM OF DEDICATED FARM AGENTS ACROSS THE UK, HANDLING MORE UK FARMLAND THAN ANY OTHER AGENT*
national south west central Farms and Estates Covered by offices Covered by offices Savills London in Exeter and Truro in Banbury, Cheltenham and Oxford
London Exeter Banbury Crispin Holborow Penny Dart Philip Hoare 020 7409 8881 01392 455 747 01295 228 050 [email protected] [email protected] [email protected]
London Exeter Cheltenham Alex Lawson Lucy Holt Douglas MacKellar 020 7409 8882 01392 455 716 01242 548 011 [email protected] [email protected] [email protected]
London Oxford James Walker south Richard Binning 020 7016 3825 Covered by offices in Haywards Heath, 01865 269 179 [email protected] Salisbury and Winchester [email protected]
London Haywards Heath Oxford Louise Elliott Chris Spofforth Oliver Langdale 020 7016 3715 01444 446 066 01865 269 179 [email protected] [email protected] [email protected]
London Salisbury east Charlie Paton David Cross Covered by offices in Bishop’s 020 7409 5916 01722 426 813 Stortford, Cambridge, Chelmsford, [email protected] [email protected] Ipswich and Norwich
London Salisbury Bishop’s Stortford Tessa Thorogood Sophie Clotworthy Edward Rout 020 7409 8879 01722 426 815 01279 756 821 [email protected] [email protected] [email protected]
Winchester Cambridge George Syrett Adrian Wilson
based on all land publicly marketed over 50 acres 01962 834 052 01223 347 231 [email protected] [email protected] *Source:
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p50-51 Contacts final.indd 50 16/05/2013 11:43 Cambridge Lincoln Edinburgh Catherine Scandrett James Ward Luke French 01223 347 218 01522 508 946 0131 247 3723 [email protected] [email protected] [email protected]
Chelmsford Nottingham Edinburgh Tim Cooper Antony Oliphant Evelyn Channing 01245 293 243 01159 348 119 0131 247 3704 [email protected] [email protected] [email protected]
Chelmsford Nottingham Edinburgh Gi D’Angibau Naomi Bloxham Jamie Wedderspoon 01245 293 258 01159 348 016 0131 247 3701 [email protected] [email protected] [email protected]
Ipswich Telford Glasgow Peter Start Rhydian Scurlock-Jones Sian Robinson 01473 234 810 01952 239 529 0141 222 4107 [email protected] [email protected] [email protected]
Ipswich York Perth Will Hargreaves Andrew Black Alastair Gemmell 01473 234 822 01904 617 831 01738 477 520 [email protected] [email protected] [email protected]
Norwich York Christopher Miles Sarah Graham wales 01603 229 235 01904 617 819 Covered by the [email protected] [email protected] Cardiff office
Norwich Cardiff Jane Kenny scotland Daniel Rees 01603 229 224 Covered by offices in Brechin, 029 2036 8915 [email protected] Edinburgh, Glasgow and Perth [email protected]
Brechin north & midlands Ruaraidh Ogilvie international Covered by offices in Lincoln, 01356 628 628 Savills has over 200 offices and Nottingham, Telford and York [email protected] associates worldwide
Lincoln Edinburgh International Stephen Hall Charles Dudgeon Hugh Coghill 01522 508 933 0131 247 3702 020 7016 3818 [email protected] [email protected] [email protected]
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p50-51 Contacts final.indd 51 09/05/2013 16:25 savills.co.uk
P52 back cover final.indd 1 14/05/2013 12:28