Northern hill farms making £10,000 per Acre
Cumbrian Land Reaches £10,000 per Acre
H&H Land and Property are continuing to see impressive land prices being reached across Cumbria. Earlier this week at The Shepherd’s Inn at Rosehill, Carlisle, to a packed room and spirited bidders, a ring fenced farm near Wigton and bare land at Ainstable both sold well in excess of the guide price.
The 56 acre Waterflosh Farm, near Wigton,sold for £600,000
Bidding started at £500,000 for the 56 acre Waterflosh Farm, near Wigton, swiftly passing the guide price of £560,000 and going under the hammer at £600,000. This compact stock rearing farm in the village of Aikton, which included a two bedroom bungalow and range of modern farm buildings, was sold to a neighbouring farmer.
There was significant interest in the 4.31 acres of good grazing land at Ainstable which was being sold with a guide price of £30,000. This land suitable for both stock rearing and equine purposes also benefitted from having a timber framed field shelter. Bidding was brisk and eventually the land sold to a local family for £43,000, which is £10,000 per acre and 33% more than the guide price.
In recent years, land has been increasingly seen as a relatively safe investment and Craig Brough, Selling Agent of H&H Land and Property, reiterates this in his comment after the sale
“This tremendous auction demonstrates once again the significant confidence in the Cumbrian Land Market
. Although we have some land coming up for sale within the next couple of weeks there really is not very much available to purchase so it really is a case of needing the supply to meet the demand”.
H&H Land & Property have another 80 acres going to auction on the19th October. This is a ring fenced block of excellent productive arable and grassland land at Dalston being sold with a guide price of £650,000. Suitable for stock grazing, cropping or ploughing the land comprises 6 field enclosures which are internally linked with a hard stoned access track to 5 fields together with mature woodland extending to approximately 4 acres. The land is currently sown in maize, spring/winter wheat and grass. There are a series of mains water troughs located on the land.
For further details about H&H Land and Property and their forthcoming auction phone 01228 406260.
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Source: Argentine Beef Packers S.A.