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Successful re-letting of a South Devon farm

Successful re-letting of a South Devon farm

Stags Totnes has recently been involved with the successful re-letting of a South Devon farm near Modbury. The in-country farm comprised approximately 225 acres, a farmhouse and range of modern and traditional outbuildings.

Stags was pleased to receive strong interest in the farm, with over 150 enquiries, resulting in two viewing days and a comprehensive set of Tenders received. Recent market volatility and uncertainty surrounding the future of BPS payments, as well as other grant schemes, had led to wide led speculation in the rental market. However, the number of Tenders received and rents offered proved the market remains buoyant. Demographically, it was pleasing to note a strong interest from the younger age groups seeking to establish fledgling farm enterprises, as well as mature farming businesses. This representation demonstrates that interest will remain for future tenancies.

Stags’ agents were further pleased to not only offer the successful letting of a standalone farm on a new Farm Business Tenancy Agreement 1995, but also to conclude the existing Agricultural Holdings Act Agreement 1986. Stags Professional Services department covers a wide field of practice; as part of this letting, Stags was able to identify a barn for Class Q planning, conclude the sale of a field parcel and advise on Estate structures and succession. Stags Totnes also undertakes a wide range of valuation instructions; as such, the Estate Management department was able to highlight potential Inheritance Tax conflicts and mitigate future liabilities.

Stags has a team of rural professionals located across the West Country who would be happy to help with any farm and land lettings and can also provide advice and support with estate management, environmental subsidies and planning applications. Whilst, on this occasion, Stags acted on behalf of the Landlord, Stags is just as able to act for the Tenant when submitting Tender applications. Please contact Stags Professional Services on 01803 862002 for advice or support.