Nearly 600 acres of Fenland farm land sold for �6,000 an acre
NEARLY 600 acres of Fenland land has changed hand in a multi million pound deal.
Savills has sold the 286 acres of land at Bishopsland Farm, Murrow, for just under �6,000 an acre.
Included in the sale was a range of farm buildings and a bungalow.
However Bishopsland Farmhouse, which is a substantial five bedroom property, is still being offered for sale separately with 2.89 acres and with a guide price �275,000.
Savills has also sold an additional 245 acre farm near March which was privately available.
“The two farms were part of a Danish investor’s much larger farming business,” said Christopher Miles of Savills.
“The reason for the sale resulted from his decision to invest further in his Lincolnshire farms of over 4,000 acres and to create a new grain storage facility and an anaerobic digestion plant. The land sold for just under �6,000 an acre.
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“The farms were purchased by an investor based in the Isle of Man and will be let or contract farmed.”
He added: “We are very pleased with the strong prices achieved in these sales, which reflect the buoyancy of the agricultural land market.
“There is still a shortage of good farms coming to market, which is resulting in pent up demand particularly from similar investors looking for a safe haven. This offers an opportunity for those farmers who want to sell and leaseback, thus releasing capital to invest elsewhere.”
Savills Cambridge has also recently just launched the 419 acre Avenue Farm at Warboys with a guide price of �2.57 million.