Herefordshire let farm offers investment opportunity
A well-run tenanted farm is about to come to the market in Herefordshire.
Oatcroft Farm, Titley, is near Kington and has 443 acres with grazing rights over an additional 227 acres of common land.
The farm is let on an Agricultural Holdings Act 1986 succession tenancy, which is in its first generation and currently brings in a rent of £21,315/year. This was most recently reviewed in April 2012.
In a market that is seeing a growing interest in let land, Savills has set a guide price of £1.25m for the farm, which equates to a return of 1.7% on the guide price. The land here is classified as Severely Disadvantaged and the farm has a 17th century, five-bedroom farmhouse with an annexe needing modernisation.
“This is a great investment farm with common rights,” said Philip Hoare of Savills. “It’s a unique opportunity to buy a well-managed let farm in an area where there has been very little on the market over the past few years. It also has spectacular views.”
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There are modern and traditional buildings, with most of these, apart from a traditional stone barn at Oatcroft Farm and two derelict stone cottages, belonging to the tenant.
The buildings are in two yards, with a mixture of livestock and grain storage at Oatcroft Farm and livestock buildings further up the hill at Gorsty Dole.
Most of the land is Grade 3 and is in a ring fence. It is steep in places, with most of the fields bordered by a mixture of mature hedges and livestock fences.
Soils here are mainly Barton series – well-drained silty soils over siltstone, best suited to permanent pasture and cereals. Of the total 443 acres, about 210 acres is arable/grass leys and 175 is permanent pasture.
The 46 acres of woodland is mainly in mixed deciduous species and the farm also has three lakes. The land is registered for the Single Payment Scheme (SPS) with all of the SPS entitlements belonging to the tenant. An Upland Entry Level Scheme agreement is in place.
The common grazing rights attached to the farm are for 150 sheep and 15 cattle over almost 228 acres of land called Rushock Hill. (Savills 01295 228 050)