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Following the death of one of the owners, our Professional Services team were instructed to complete a Red Book Valuation for inheritance tax purposes to assist in the grant of probate. During this work, the clients noted that they were planning on letting the farm and subsequently instructed Stags.
We inspected the land and buildings and advised on appropriate lotting before drafting the lettings particulars. During the marketing process, viewing days were held and after the tender deadline, we reviewed and provided recommendations to our clients. We were then instructed to draft the relevant Farm Business Tenancy agreements and also complete pre-tenancy Records of Conditions.
Due to stopping farming, the family also had an extensive range of machinery to sell and so our Auctions team were instructed to hold a full onsite farm dispersal sale which included a wide range of items from livestock equipment and cubicles in sheds, through to high value tractors owned by bother the farm and nearby farmers.
The team helped the farms workforce in preparing equipment, laying out the sale field as well as loading and assisting with the clearance of sold items. Advice was given about machine values, the timing of the sale and the order in which the items wold be best to be sold.
5 tractors and a JCB Loading Shovel were the highlights of the sale with over 400 lots having been auctioned on the day. Advertised nationally and locally, the sale attracted over 100 people who all attended on the day. Alongside this, a live online bidding system was used which incorporated a video stream of the sale, allowing bidders that were unable to make it in person to bid and experience the auction in real-time. Items were sold both locally and nationally.
Stags continue to manage the tenancy of this farm on behalf of the family.
