News
Farmland Market and Auction Results - Spring 2008
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The spring of 2008 has seen farmland prices firm markedly. Prices are well up on 2007 buoyed by the strong demand for agricultural commodities and the perception of security in agricultural investment. Richardson held a spring auction of agricultural land on 27th March taking advantage of this situation and also to achieve a sale before the end of the tax year when the method of calculating Capital Gains Tax became less favourable to working farmers.
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Three parcels of land were sold around Bourne with prices as follows:-
1. 14.25 acres of land off Milking Nook Drove made £ 79,000 (£5,543 per acre).
2. 11.91 acres off Dyke Drove made £72,500 (£6,087 per acre).
3. 31.01 acres of land also off Dyke Drove made £192,000 (6,191 per acre).
A further parcel of grassland extending to 31.38 acres was sold in the parish of Caldecott, nr Uppingham and this made £100,000 (£3,138 per acre).
Auctioneer, Charles Richardson commented that “for small parcels of land in the right area auction remains a transparent and attractive method of sale as contracts are generally exchanged smoothly and with the minimum of fuss”
Further auctions of land will be held as and when appropriate. If you would like further information on marketing your land by auction, please contact Charles Richardson.
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