The current economic climate appears to be having little effect when it comes to investing in farmland, according to property experts at Carter Jonas' Northampton office. Over the past two weeks, they have released two investment opportunities to the market, both of which have stimulated a considerable number of enquiries from potential purchasers.
The most recent parcel of land to be marketed for sale is Top Farm at Hargrave on the Northamptonshire/Cambridgeshire border to the east of Higham Ferrers.
It comprises approximately 101 acres of predominantly arable land with a farmhouse which is in need of substantial renovation, and two outbuildings.
Katie Turner, who is dealing with the sale, explains: “The level of interest in Top Farm confirms that there is still a considerable amount of demand for small farms and parcels of land, despite the economic downturn. These are not the green shoots of recovery, but simply an indication that farmland is bucking the trend of other property prices. There have been very few small affordable parcels of land on the market since Autumn 2008, and a few good opportunities for buyers are now beginning to come forward.”
Continued Katie, “Top Farm is being marketed in five lots, and therefore there is considerable flexibility and potential here for buyers. We have noticed interest from people wanting to redevelop their own house and buy some land around it, as well as those who are more interested in investing in an attractive land parcel with some environmental features”.
However it is not just the larger amounts of land that are proving to be in demand. Carter Jonas is also marketing 27 acres of pastureland between the villages of Wollaston and Great Doddington in Northamptonshire. For sale by private treaty, the fields are available either in one lot or two separate lots and have a guide price of £125,000.
“What has proved to be the unique selling point for the 27 acres is that the land benefits from a good highway access and is located between two highly desirable villages, but with considerable conservation or equestrian potential, since it lies just beyond the boundary of the Nene Valley Special Protected Area, and a Site of Special Scientific Interest. Again, the interest has come from a wide variety of people including equestrian enthusiasts, farmers and people interested in nature conservation.”
Philip Cowen, a Partner in Carter Jonas’ Northampton office added “Whatever their reasons, the level of interest in both of these parcels demonstrates that people are still very keen to invest in the countryside. They see farmland as a sound long-term investment which is not subject to the same price fluctuations that we have seen recently in other types of property, and on the Stock Exchange. It is encouraging that there are now some good opportunities for both buyers and sellers.”