Farmland in your area 2024: North-west England

Sustained demand for small pockets of bare land has driven the farmland market in the north-west of England throughout 2024, with land in locations that have a concentration of larger farms changing hands at premium prices.

Agents largely expect this situation to continue in 2025 but there is an acceptance that the changes to inheritance tax (IHT) relief on farmland make the market more difficult to predict, particularly for family farms.

If the changes do result in more land being put up for sale with a subsequent drop in values, larger farms could capitalise on the extra supply, they say.

See also: Farm and land sales – common issues that delay and complicate

Mark Barrow, director, H&H Land & Estates

In what has been a wet year, there has been some reluctance to bring farms and larger parcels of land to the market, and high interest rates have also had a dampening effect.

But we have been able to launch a large number of farms on behalf of farmers who are retiring and don’t have family members to succeed them.

A thriving dairy industry has created strong demand for dairy farms across the region, and there has been a robust market throughout the year for properties sold at auction, particularly small parcels of bare land.

Prior to the Budget, cash buyers were very much in evidence.

In 2025, we expect to see a steady supply of farms and bare land coming to the market. With interest rates decreasing, more buyers are likely to be willing to borrow, to then invest.

Older farmers are expected to sell rather than let or rent out their properties.

The Budget changes to IHT reliefs will make local knowledge absolutely key to accurate valuations.

Tony Rimmer, Rostons

Rationalisation has very much been in evidence in 2024. We have seen bigger farms getting even larger, especially in the dairy sector, often with multiple operators milking at three or more sites with a separate unit for youngstock.

Farming is now a business, no longer a way of life, and is driven by economies of scale – those bigger units have the systems, protocols and training in place to deliver that required efficiency.

We have seen a lot of competition for land in certain areas of the North West, notably in Cheshire.

We have sold a lot of bare land, from large blocks of 50 acres or more of flexible cropping land, which have generated a lot of interest from good operators who want additional acreage for forage and spreading muck, to small pony paddocks – a market that remains very strong.

A number of well-equipped farms have also sold in the region and, when guided sensibly, they have sold well.

However, when sellers’ expectations have been strong, interest has been more sluggish.

What 2025 holds very much depends on what happens over the next few weeks with the progress of the Finance Bill through parliament, although we don’t see it crashing the market, just holding things back.

For sale

Northumberland

Gapshield Farm © H&H Land and Estates

Gapshield Farm, a 450-acre holding near Haltwhistle, has ring-fenced grassland, moorland and fell, part of which is designated as blanket bog and part as moorland fell.

A Higher Level Stewardship scheme is in place until 30 September 2028.

There is a good range of modern stock buildings and traditional stone outbuildings, and a well-maintained, five-bedroom farmhouse.

Gapshield Farm is being offered for sale by H&H Land & Estates with a guide price of £2.9m.

Sold

Cumbria

Mount Pleasant © H&H Land and Estates

Mount Pleasant, a 333-acre dairy farm close to Penrith, was sold in excess of its £4.5m guide price by H&H Land & Estates.

It has an extensive range of modern Atcost and steel portal frame buildings and an original steading of traditional stone outbuildings that could be utilised for residential conversion.

As well as a large, five-bedroom Grade II listed farmhouse, Mount Pleasant has a pair of three-bedroom detached bungalows.