Land agents see end of slump
2006 was one of the most successful and interesting years of land and property sales for some years for auctioneers and rural land and property agents Nock Deighton Agricultural LLP of Bridgnorth.
Head of Nock Deighton's rural professional department James McIntyre, pictured, reported that with a change in the agricultural subsidy system and uncertainty over the implementation of the Single Payment Scheme towards the end of 2003, the market for farms and smallholdings virtually dried up.
"In late 2005 we started to get the signs that this was all about to change," he said.
In a little over 12 months Nock Deighton has sold about 1,000 acres, including 15 houses and cottages to total almost £9 million.
Initially the firm sold two smallholdings by public auction. Yew Tree Holding, Exfords Green, near Shrewsbury, comprised a traditional two bedroom cottage for refurbishment together with buildings and 5 acres of pasture which sold as one lot for £349,000.
The second holding was Nirvana, Cockshuttford, near Craven Arms, which was an equestrian small holding of 9 acres with a 3 bedroom chalet bungalow and purpose built stables and mange subject to a restrictive covenant which still sold for £300,000.
At the same time the firm launched and quickly sold Westwood Farm, Oldbury, near Bridgnorth, which comprised 2 modern semi-detached cottages, a portal frame farm building and with 150 acres of arable land and 30 acres of woodland.
The holding was sold in lots to local buyers by private treaty for well in excess of the £850,000 guide price. The strength of the local farmland market was further confirmed with the sale of 17 acres of arable land at Prescott, Cleobury Mortimer, for considerably more than its £60,000 guide price.
The sale of a very picturesque upland holding of 75 acres at Sally Coppice Farm, Bouldon, near Craven Arms, was unusual because it retained all the original field boundaries, some breathtaking southerly views and few modern buildings.
The farm sold in one lot at close to its £750,000 guide price to a family from Wiltshire, who were retiring from industry to start farming.
Following that was Detton Hall Farm, Cleobury Mortimer, the home of the Ratcliff family and Detton Beef and Lamb, after the family decided to retire. The property included Little Detton, a modern 5 bedroom farmhouse subject to an agricultural occupancy condition, Detton Cottage, a traditional 3 bedroom cottage, extensive farm buildings and 370 acres of arable and pasture land. It sold to local farmers, developers and those with equestrian interests for more than £2 million.
