Maximising the price of clients’ assets

Stags Farm Agency is often approached to provide valuation advice on farms and land for clients who are considering their future options and looking to sell on the open market. With a well-established farm agency department focussing solely on the sale of farms and land, our valuers have a wealth of experience in property and are able to provide in-depth knowledge of the market.

We will always look to do the best for our clients, with the aim to maximise the potential sale price of their property, ensuring that every potential opportunity has been looked at, most often through obtaining planning consent or through lotting of farms and land parcels.  

Our experience in property enables us to identify whether obtaining planning consent is possible and we will discuss these opportunities with owners to create a strategy that works for them based upon their own personal circumstances and reasons for selling.

Some examples of this could include:

• Identifying an opportunity to convert a range of redundant agricultural buildings to dwellings using Class Q or the ‘fallback’ provision. These buildings may no longer be useful for modern farming and their value as a residential asset is likely to exceed that of agricultural.
• We often come across properties with occupancy conditions on them, most typically an agricultural occupancy condition (AOC). We can consider whether or not there might be an option to remove such a condition or nullify it through obtaining a certificate of lawful use.
• If planning policy allows and a house is not listed, some local authorities have a replacement dwelling policy.

A recent successful example is when George Alder was tasked with maximising assets to fund a client’s retirement.

The property comprised of a modern farmhouse, a range of 1970’s farm buildings and a run of approximately 100 acres. On meeting at the property, George identified the client’s key objectives for the sale, which were to hold onto the farmland but capitalize on the strong residential market.

Working closely with our Planning team, we identified that it would be possible to obtain Class Q permitted development rights to convert the modern farm buildings and to go one step further towards enhancing the future sale price; using the ‘fallback’ provision, planning consent could be obtained to replace these buildings with five bespoke new build detached dwellings.

Stags Planning team provided a planning appraisal which outlined the costs for obtaining planning consent for the two options. On reviewing this information, alongside the guide price advice provided by George, the clients decided to go ahead with the plans for the new build dwellings which, in addition to enhancing the sale price, would also deliver on a scheme that the landowner and planning committee would be proud of.

As a result, the sale of the site with planning consent on the open market was undertaken and achieved a circa 190% increase over the value of the site as an agricultural unit.

Another route to maximise the potential sale price of a property is to consider opportunities for lotting. We are well placed to advise on how best to divide a property up to maximise the sale price and how any retained property may be affected, as well as the rights needed for access and services. Exploring these potential uplifts in value are then an option for sellers to consider.

Our knowledge of current values, environmental land schemes and planning policy as well as our understanding of IHT and Capital Gains Tax implications, means our team can provide well-informed advice for those looking to sell property.

If you are looking to sell and require advice on the value of your farm or land, get in touch with a member of the Stags Farm Agency team on 01392 68059 or 01872 264488.

 

 

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