Auction Demonstrates High Demand for Land15th May 2017
After selling their first blocks of Cumbrian agricultural land of 2017, H&H Land & Property report “early indications are that the demand for land is good”.
At a recent public auction held at Borderway Mart in Carlisle, two blocks of good quality grazing and mowing land located at Hayton, and Linstock near Aspatria, sold very well to a packed sale ring.
The 18 acres of high quality Grade 3 grazing/mowing land at Hayton, Aspatria, currently down to pasture sold for 12% over the guide price of £145,000 for £166,000; the equivalent of £9222 per acre. This land had the potential for year round cropping, grazing and mowing.
The second lot, 6 acres of excellent quality grazing and mowing land and a dilapidated building at Linstock, offered with a guide of £50,000, sold for £71,000. Subject to the necessary planning consents the building offered the opportunity for development into a modern shed.
A further land parcel due to be auctioned that day, received a significant offer in advance of the auction which the owners accepted.
Giving feedback after the sale, Thomas Armstrong, Associate Director and Chartered Surveyor at H&H Land and Property said: “This was our first land auction of the year and certainly based on the interest we received, early indications are that the demand for land is good. Currently, there appears to be confidence within the farming industry and there was competitive bidding for both lots. Demand for these three particular parcels of land was from farmers looking to increase their acreage”.
“We currently have a number of blocks of land for sale by private treaty and a number of farms coming onto the market within the next few weeks. We know that there is a strong interest in farms, as we have many active buyers looking to purchase farms over a varied price range.”
For more information, contact Thomas Armstrong, Associate Director and Chartered Surveyor or telephone him on: 01228 406260