Published: 24/07/2024 By Andrew Tuffin
The Symonds & Sampson Farm Agency team has experienced its busiest spring and early summer for many years. To date, we have launched over 40 farms and smallholdings to the market, not to mention numerous blocks of bare land. A handful of sales have even been completed, which is unusual in a property market where transactions take longer due to legal and financial processes. This is a testament to our detailed sales preparation, targeted marketing campaigns, thorough due diligence, and excellent working relationships with property solicitors.Values have remained resilient, but one must drill into detail to get the full picture. Lending rates stubbornly remaining 4% above the lows of the 2010’s has affected the appetite of commercial farmers - the backbone of buyers. This has resulted in more locational variation in values. Quality bare land in sought-after locations now regularly achieves over £10,000/acre, whereas marginal land in less desirable areas does not unless it has a high conservation or marriage value. Equipped farms over 100 acres with a dwelling fetch £15,000 - £20,000 per acre, although large principal or multiple dwellings will likely push the value above this range.
We have noticed that investor buyers are seeking scale. 300-plus-acre farms or blocks of land are less frequent and easier to sell than those of 50 acres.
The buyer profile is gradually changing as more institutional and private investors enter the market, perhaps viewing land as a safer commodity under a new government. Other active buyer types are farmers and estates seeking to defer capital gains tax by rolling over funds from development land sales.
We are also seeing a range of buyers securing land for environmental benefits, including national tax-funded organisations, trusts, pension funds and private individuals.
If you are considering selling or buying, please contact Andrew Tuffin at Symonds & Sampson in Sturminster Newton (01258 472244) or our farm agents (below) in your local Symonds & Sampson office. Meanwhile, we invite you to visit our stand at the forthcoming Honiton, Melplash, Gillingham & Shaftesbury and Dorset County Shows this summer. Find the event details here.
Kitwhistle Farm, Beaminster, West Dorset. 170-acre commercial farm. Sold May 2024
Farms & Land For Sale
