Following a number of strong sales, Powells are experiencing renewed confidence from purchasers in the agricultural and landed property market. The market for landed residential property shows signs of improving and more buoyant market conditions in the last six months. With the Farm and Land market remaining strong, especially to agricultural purchasers, several strong farm sales have been achieved during the last few months. A number of farms and smallholdings have also gone under offer in recent weeks.
The market for equestrian and landed country properties appears to be strengthening again. An increased number of registered applicants & enquiries, viewings and market transactions are all being experienced throughout the last three months, after a quiet market in the first half of 2013.
With a significant number of farm or landed property instructions being prepared for 2014, there appears to be a number of purchasers deciding to sell. Some of these are looking to capture the strong prices experienced by land at the current time. David Powell comments that the 2014 market is looking buoyant, with an increased number of proceedable purchasers and sellers coming to the market, compared with the last 24 months.
David Powell comments that “this year has also seen a number of very strong private sale results being achieved for off the market sales, where clients have wanted to sell quickly and in privacy. Due to our extensive registered applicant list of proceedable buyers, this has allowed us to introduce a number of suitable and proceedable purchasers”. One private sale has realised over £9,500/acre for a block of good quality grazing land, to a neighbouring landowner. This demonstrates that key premiums are being offered by certain purchasers that can unlock latent marriage value from adjoining land.
David also adds that a number of sale methods are being used to achieve the best price in the current market, such as public / private auction, informal tender or private treaty. It is critical the correct professional advice is received, especially in relation to the sale method, to prevent a disappointing sale result. A number of auction properties still continue to struggle to reach reserve prices, often due to the restriction on being able to obtain a finance offer from lenders prior to the auction date.
Well planned disposals are key to maximising the returns from any sales, with prior tax planning now essential, and a comprehensive well planned professional marketing strategy important for obtaining the best value.
Powells offer the complete marketing package from high quality targeted advertising and brochures through to the key internet based property portals such as UK Land & Farms (www.uklandandfarms.co.uk). A comprehensive registered applicant database is also essential for being able to market properties or land directly to potential purchasers.
If you are thinking of selling any landed property, farms, land, equestrian and rural property packages with land, please contact David Powell or Julie Jenkins for a confidential and no-obligation Marketing Appraisal.
Please do register your details on our extensive applicant database if you are looking for any farm, land, equestrian or landed residential property to ensure you receive particulars of properties prior to marketing and of private ‘off the market’ opportunities. Please contact us by email [email protected].