£20m North East land sale begins
One of the North East’s largest land sales has commenced, as around £20m of land is on offer from Northumberland-based Alcan Farms.
Agents, YoungsRPS are offering the portfolio which includes agricultural, residential and commercial interests.
Four fully equipped farms, 19 residential properties, an operational wind farm and mineral assets form part of the portfolio, as the landholding totals 1,785.34 ha.
The farms are currently managed in-hand by Alcan Farms. The majority of the land, some 1,201.86 ha (2,969.80 ac) is being offered with vacant possession alongside a further 583.48 ha (1,441.77 ac) which is currently tenanted by Alcan Farms.
Unusually, the tenanted land is farmed under assignable tenancy agreements. As a result, assignments of the tenancies are being offered along with the freehold sale.
Graeme Bruce, partner at YoungsRPS and head of the Alnwick office; “This portfolio offers many options. It is unusual on a number of levels and as such we are anticipating interest from a diverse range of potential buyers and investors.”
“Firstly it provides a rare chance to purchase a large block of productive and well managed farmland in one location, and as such will undoubtedly appeal to those with commercial farming interests nationwide and possibly even from overseas. Secondly, the location of the land offers a variety of development opportunities as well as income earning potential from the operational wind farm and residential property portfolio.
“With this in mind we are offering the portfolio in a total of five lots to cater for the varied interests although it would be the vendor’s preference to sell the whole portfolio as a going concern. This sale is certainly unique and as such has the potential to set down a number of markers for the property market nationwide at this early stage of the year.”
The land has been managed as part of the Alcan Farms business since 1973. The existing management regime focuses primarily on the cereal rotation but this is run alongside a mixed livestock enterprise of a 340 head suckler herd and a commercial flock of 525 ewes. However it would be possible to expand the arable acreage should a purchaser wish to do so.
Jim Beattie, Alcan Farms manager, added: “We’ve farmed this land on a commercial basis for a number of years and we believe it has great potential for further development. All expressions of interest will be very carefully considered to ensure this major land holding transfers to the ownership of a responsible purchaser with long-term plans that will benefit the communities of Northumberland.”
Full details of the sale can be found at www.youngsrps.com.
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