Brancote Farm exceeds guide price
The sale of Brancote Farm at Tixall near Stafford attracted over 40 viewers, and achieved a figure in excess of the Savills guide price of £2.25 million.
Whilst the viewers came from far and wide, including Surrey, Norfolk and Ireland, roughly half were commercial farmers from Staffordshire and Shropshire and the ultimate purchaser is a local farming family.
Brancote Farm was developed by the Earl of Shrewsbury in 1850 as a model farm, hence the high quality nature of both the farmhouse and the farm buildings. In recent years the farm has been run as a mixed arable and stock farm. The main body of the farm was a good quality sandy loam soil with some lower lying grassland running down to the river meadows.
Farmland value is outperforming London prime property, according to the latest research from Savills. Average land prices for prime arable land increased by 1.9 per cent to £7,800 per acre across Great Britain during the first quarter of this year.
Tony Morris-Eyton, who handled the sale at Savills, comments: "Farmland is undoubtedly one of the asset classes at the moment, and already this year there have been a number of transactions both on and off the market at figures well in excess of £10,000 per acre."
