Norfolk farmland with development potential enters market

More than 300 acres of good quality arable land with possible development land is for sale in Norfolk. 

Lodge Farm, next to the growing village of Mulbarton, has also been lotted for sale.

The 312 acres of arable land currently grows wheat, barley, sugar beet, oilseed rape, peas and beans, six miles south of Norwich.

Local planners have identified that part of the farm could also have residential development appeal, and the seller will apply overage of 50% for the first 25 years and 40% from years 26 to 50, should planning consent be granted.  

The majority of the farmland comes in lot two, which comprises 278 acres of Grade 3 land and the central yard and buildings.

“The buildings provide about 800t of grain storage and one building is let as a workshop to a local agricultural contractor under a business lease until 2018 at a rent of £3,000/year,” said Savills’ director Christopher Miles.

“It has been farmed by a neighbour for over 10 years, who is renowned as a very good farmer and he would be very keen to continue farming it.”

An 83-acre field of permanent pasture is available in lot three which lies within the ring-fenced farmland, while an off-lying block of arable land adds a further 33 acres to the sale in the lot 4. 

The farm’s two houses – a Grade II listed lodge and a bungalow – form lot one which includes about 15 acres of pasture. 

Buyers wanting the farm as a whole have been set a guide price of £3.7m. It is for sale through Savills’ Norwich office.