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As they say some of the old ones are the best, Mark Twain famously said ‘buy land, they’re not making it anymore’. Depending on which dataset you care to read, the amount of farmland marketed in England in 2016 was between 10 and 20% lower than the previous year. Prices paid across the country continue to fluctuate wildly, sometimes within the same Parish seeing land either side of a road trading for very different prices. At Shouler & Son we continue to deal with the sale and letting of a wide variety of agricultural and rural land ranging from whole equipped farms to small parcels of amenity and equestrian land.
We are doing deals in the freehold and rental market both on and off market across a wide range of farms and land in the East Midlands and further afield. We advise vendors and purchasers and deal with all associated matters including transfer of Basic Payment Scheme entitlements.
We are aware of a range in freehold prices being paid of between £7,000 and £18,000 per acre, depending on the type of land parcel size and most critically its location. Rental and licence arrangements vary from as little as £30 per acre for poor quality grassland to over £200 per acre for good arable land, including use of the landlords entitlements for the term of the tenancy. Whilst freehold prices have cooled compared to last year (and to some extent tender rents for farm business tenancies) overall we see dramatic change to either market are unlikely in the next period.
Whether buying or selling freehold, letting out or renting in, good advice is crucial in a market where variations in value can be significant in the same Parish.
Local expert knowledge is vital.
At Shouler & Son we have a team of land agents/ auctioneers with considerable experience and expertise in all aspects of land, for further advice or just an informal chat please contact Harry Baines 01664 560181.
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