Kivells Launceston Farms & Land Agency reflect on exceptional year
Despite the current uncertainty in both the political and economic climates, the sale of farms and land in Cornwall has continued to be driven by supply and demand. The county is bucking the trend against national land transactions in an eagerness to combat Brexit related fears by spreading economies of scale.
This is showcased in the launch of Helland Barton Farm in the summer of this year. A rare and unique commercial agricultural property in Cornwall, boasting 421.55 acres of prime arable land, centred around a dominant 5 bedroom farmhouse. A sale was agreed for Helland Barton this autumn.
Similarly, and somewhat unseasonably, the launch of Trevidgeowe Farm, Withiel, consisting 108 acres with four bedroom farmhouse, two bedroom cottage and small wind turbine, showing that seasonality is less important when assessing timing of launch. Monitoring demand was of greater importance in this instance.
There is still reasonable movement with non-farming investors. This is demonstrated in the sales of both Upcott Barton Farm near Broadwoodwidger, a 5 bedroom Barton house with 26 acres and range of buildings, and Grove Farm near Saltash, a stunning 4 bedroom house with 141.32 acres beautifully positioned with river frontage, overlooking the Lynher Estuary.
A lack of bare land of commercial size has been experienced this season, with demand being far stronger than supply. Indeed numerous parcels could be sold many times over, with dry and accessible areas being dearly sought after. Land at Beals Mill, Rezare, extending to approximately 30 acres, being a case in point.
Small parcels of land, particularly when sold at auction, experienced very pleasing results for our clients with 2.87 acres achieving £125,000 at St. Tudy, against a guide range of £40,000 to £45,000, and Paradise Farm near Little Petherick, being 9 acres with range of buildings, selling for £310,000 against a guide range of £150,000 to £175,000.
Kivells’ Launceston Office Director, Thomas Rattray, has been delighted with the success of the year, “It has been a pleasure launching, selling and auctioning some first class farms and small parcels of land this year, to achieve some fantastic results for our clients. Helland Barton Farm recognises the largest and most valuable farm of my career. Commercial blocks of agricultural land, preferably 40 to 60 acres near to a main road and particularly that which can be cropped, are in serious demand and is the category of land we get asked for the most. Those brave enough to have put land forward for meeting this criteria are sure to be rewarded, even in what everyone is calling ‘uncertain times’.”
Kivells look forward to working with both buyers and sellers in 2020. Please contact your local farms and land agency to discuss selling your property.