Carter Jonas has sold the 2,000-acre Aldwark Estate in the Vale of York, on behalf of the Bristol-based charity, the St Monica Trust.
The estate, which came onto the market in late 2008, was offered for sale as a whole, or in up to 10 lots, the majority of which were tenanted, generating a rental income of over £210,000 per annum. The property has been sold in a combination of different lots, including Haddocks Farm, a vacant 460-acre arable and livestock farm with further tenanted land and woodland.
The remaining parts of the historic estate included 4 traditional equipped investment farms extending to over 1,030 acres and 295 acres of bare land let on Farm Business Tenancies. A portfolio of 14 houses and cottages let on both Assured Shorthold and Protected Tenancies has been retained.
Graham Candy, a Partner in Carter Jonas’ Rural Division, commented: “There was strong underlying interest in the let farms from small private investment trusts and from private individuals. This resulted in equally strong final sales figures, with yields below 2%.”
“Haddocks Farm, the only lot offered with vacant possession, was sold in excess of the guide price of £4.5m.”
Tom Whitehead, an Associate based in the firm’s Harrogate office added: “This type of investment is certainly showing its resilience to the challenging economic conditions; another recent investment sale, 330 acre Compton Grove Farm near Wetherby, sold earlier in the year for substantially in excess of the £1 million guide price following spirited bidding by a number of private investors.”