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With spring just around the corner, Stags Farm Agency team is reporting early signs of activity in the farms and land market. George Alder, Head of Stags Farm Agency, says that January and February were remarkable busy. ‘So far in 2015, sales of two farms - one in Devon the other in Somerset, both with just over 100 acres – have been agreed,’ says Mr Alder. ‘We saw an early flurry of viewings from buyers looking to secure purchases in the spring, either to expand their existing farm business, or relocate to the south west,’ he added. According to Mr Alder there has also been a notable upswing of interest in parcels of agricultural land and woodland in Devon, again with a number of sales agreed in recent weeks.
Stags Farm Agency figures for the year showed a strong finish to 2014, with bare land sales in Devon averaging £7,117 per acre, while in Cornwall the figure was £7,912 per acre and in Somerset £9,997 per acre. Across the South West region, arable land averaged £8,896 per acre in 2014 while pasture land averaged £6,459 per acre. The largest price variance were seen in pasture, with some lots being sold for around £10,000 per acre, while at the other end of the spectrum just under £3,000 per acre was achieved. Arable land showed a much smaller price variance.
Continued strong demand for commercial farms was a particular feature of 2014, although the market for residential dwellings with around 10 acres, priced between £450,000 and £750,000, was also strong, with the result that some larger farms were lotted so as to satisfy both the residential and agricultural markets.
2015 already promises to be busy, with a good number of instructions already gained. New to the market is Brightmanshayes Farm near Petrockstow, a 164 acre mixed farm with a traditional farmhouse in need of modernisation, a courtyard of traditional farm buildings, a range of modern farm buildings (formerly used for a dairy operation) and productive free draining land which has produced wheat crops of around 4 tonnes to the acre. Brightmanshayes is offered to the market at £1.6 million.
For commercial farmers looking to expand, or indeed create a new holding, a number of large blocks of land in mid-Devon will soon be coming to the market, as well as a let farm in Devon offering a great long-term agricultural investment.
Stags Farm Agency, 21 Southernhay West, Exeter, EX1 1PR
Tel: 01392 680059, e: email@example.com