Land in your area 2020: South-west England

The region suffered from uncertainty caused by Brexit negotiations, farm policy changes and the Covid-19 lockdowns, with acres and farms launched publicly down 26% and 23% respectively on 2019.

This is according to Strutt and Parker’s data, which also show both arable and pasture average prices increased by 11% year-on-year, supported by high levels of demand.

Always a popular location for lifestyle buyers, 2020 saw interest piqued even more, as well as a healthy interest from farmers looking to expand.

See also: Land in your area 2020: East of England

Positive market

Despite Covid-19, the market for land and farms has been surprisingly positive. Prices have remained firm, driven by demand from residential and commercial farm buyers.

After the second lockdown, in particular, we saw greater interest from residential buyers, looking to change their lifestyle – often working from home while having a farming business.

Many have taken advantage of the strong residential market, selling their residential properties in order to fund the purchase.

In addition, commercial farm buyers – particularly dairy farmers – are seeking opportunities for expansion, but are often waiting for the right farm and taking a long-term view.

Despite a national decrease in farm and land instructions, this year Stags has seen an increase, including a 67% rise in the number of bare land acres advertised and sales agreed.

The number of farms that came to the market later in the year than usual, such as in October and November, was of particular note.

George Alder, partner, Stags

Colossal interest

The year started optimistically in January and February, then lockdown struck and all but closed down the land market until mid-summer.

In July, we launched Church Farm, Marnhull, in Dorset, with a guide price of £7.1m. The 530-acre arable and pasture farm had an excellent range of farm buildings, and a five-bedroom house.

We had a colossal amount of interest – 14 viewings in the first week alone – ranging from local farmers to lifestyle buyers, and those who hoped to capitalise on the development potential of the buildings. The farm was offered for sale as a whole or in three lots and all the interest was for the farm as a whole.

Bidding was strong and narrowed down to four interested parties, taking the final sale price to 15% over the guide.

In summary, a year with too few farms being chased by plenty of cash-rich buyers – 2021 could be very similar with premium prices being paid.

Richard Nocton, partner, Woolley and Wallis

What sold well?

© Stag

Stags launched Walkers Farm, near Bridgwater, Somerset, with a guide price of £2m in June 2020.

The 113-acre holding has a five-bedroom house, four cottages, planning consent for a residential conversion and a range of buildings.

It received strong interest from parties within and outside the region, and was sold as a whole to a buyer looking to expand his farming business.

What’s on the market?

© Woolley and Wallis

In Wiltshire, a 50-acre grass farm is available with Woolley and Wallis, guided at £1.8m.

Clarendon Farm, Teffont, includes a three-bedroom house plus annexe, and a range of buildings.

Currently used for equestrian purposes, it is said to be suitable for adaptation to a livestock unit or transport hub.