Farmland in your area 2024: East Midlands

Agents report a clear growth in the supply of farmland coming to the market in the East Midlands in 2024, a combination of public and private sales that resulted in more land being traded than for some years. 

In terms of transactions both the number of individual deals and acreage, bucked the five-year average.

Values generally remained very strong, with market evidence suggesting they had advanced in the past 12 months. 

See also: Farmland in your area 2024 – North-West England

Several well-equipped farms sold for well in excess of their guide prices, with demand from buyers both locally and nationally.

Charlie Bryant, Brown & Co

Reasons for sales and acquisitions in 2024 were varied, although it remains overstated that purchases are made for tax reasons alone.

I suspect that in most cases, purchases would have been made regardless of the tax regime, as the fiscal benefits of buying land are largely secondary, not the primary reason for a purchase.

Unsurprisingly, market activity was frenetic in the months, weeks, even days before the Autumn Budget.

Cliff Farm, Brattleby, 117 acres with productive limestone soils and traditional stone barns with development potential, sold to a local farmer at well in excess of the £2m guide.

Similarly, in the Fens, the sale of Round House Farm at Fishtoft, probably the best land I will ever sell, achieved a price substantially above the guide of £6.5m with interest in the 385 acres of Grade 1 double cropping silt land not restricted to local buyers.

As for 2025, it may be that the market draws breath as decisions are put on hold after the Budget, but there is no real evidence that those wishing to make land purchases are deterred.

Tim Howard, Howkins & Harrison

There has been a strong market for all types of farms, land and rural property in the East Midlands in 2024, in particular buyers often paying a premium to secure a purchase of  smallholdings and holdings with an alternative use or development potential.

The majority of sales in 2024 were driven by business or debt restructuring and retirement, while purchasers were looking to expand their business, relocate or had capital to invest.

Two large blocks of arable land in Northamptonshire achieved in excess of their guide price of £12,000/acre.

The region is a hive of development activity and this, coupled with the Autumn Budget, created a perfect storm with sellers anxious to complete and buyers to reinvest before the end of October.

We don’t expect a crash in the market resulting from the inheritance tax (IHT) changes, but we will advise our clients to be sensible and cautious with their expectations from the outset.

With good and clear marketing and transparency in what is offered for sale, we still expect to generate a good level of interest.

For sale

© Howkins and Harrison

Meadow Gate Farm in Priors Marston on the Northamptonshire border, a compact and productive pasture and arable farm with buildings, has been launched by Howkins & Harrison.

The property, which extends to 66 acres and has a park home with potential for further development, comes with a guide price of £1.25m.

Farms sold

© Brown & Co

Manor Farm at Spridlington, near Lincoln, attracted both local and national interest when it was launched by Brown & Co J H Walter, buyers attracted to its soils and its buildings, including grain and potato storage.

The fully equipped 478-acre holding has mostly Grade 2 land and irrigation. It sold comfortably above the £6.7m guide in two lots to local farmers.

© Howkins and Harrison

Arable and pasture land in Welford, Northamptonshire, sold to a local estate when it was marketed by Howkins & Harrison earlier this year.

The 314 acres, which came with a range of traditional barns, sold in excess of the guide price of £3m.