The year 2024 will go down as one of the most active for farm and land sales at Hobbs Parker, heavily influenced by a general election, anticipation of capital gains tax changes in the autumn statement and, thereafter, the unexpected changes in agricultural property relief and business property relief.
This was met with solid demand, with prices holding firm. The South East remains a popular area, with buyers ranging from existing farmers looking to increase their holdings, particularly here there are rollover funds, to non-farming investors and those seeking land for natural capital purposes.
Highlights included the sale of Little Forsham Farm and Little Thornden Farm at Rolvenden, a 165-acre traditional grassland farm which sold in lots well in excess of the £2,250,000 guide price, and Lower Frognal Farm, Teynham, a 300-acre mixed arable and grassland farm with two dwellings which carried a guide price of £3,350,000.
2025 looks to be an equally active year, and with the weather improving, our farms and land agency team is delighted to launch a number of farms, land and rural property to kick start the spring market.
Harrison Farm at Charing is a 100-acre arable farm set at the foot of the North Downs. The sale comprises the former grade II-listed farmhouse, which is currently arranged as two cottages, an attractive Kent Barn with conversion potential, and productive, mostly grade II arable land which may be suitable for viticulture. The farm is offered for sale as a whole or in up to five lots, with an overall guide price of £1,750,000 – £1,850,000.
On the North Downs at Lyminge, Hobbs Parker is offering White Dove Farm, which sits above the village in an elevated position. The farm comprises a detached, modern, two-bedroom chalet dwelling with an agricultural occupancy condition (AOC), farm buildings with potential, and pasture land extending to about 47 acres. There is an interesting cold war bunker in one of the fields.
Down on the Low Weald the agency is instructed on two small farms. At Staplehurst there is Overbridge Farm, a 21-acre grassland farm with an attractive grade II-listed farmhouse and useful farm buildings, one of which has planning permission for conversion. The farm is offered for sale at a guide price of £1,375,000. At Biddenden, Ashenden Farm is a small farm with a three-bedroom farmhouse (with an AOC), farm buildings and planning permission for a new four-bedroom dwelling. The guide price is £1,250,000 for the whole, although the existing farmhouse, buildings and land can be acquired for £895,000.
Keep a watch out for future announcements as Hobbs Parker is instructed on a number of other land sales that will be coming to the market soon, including a block of arable land at Shorne, Gravesend, and a small farm in Shipley, West Sussex.
Looking ahead, the proposed amendments to agricultural and business property relief may influence buyers and sellers in the market place. It is possible that supply will reduce as vendors take stock of the proposed reforms. While it is too early to predict the impact of these changes, Hobbs Parker is not expecting values to change noticeably this year and farm and rural property will continue to attract solid interest from a wide range of buyers.
Farmers and landowners with rollover funds from development continue to be very active in the market place and seek the larger commercial opportunities. With interest rate pressures possibly easing slightly, borrowing will hopefully become more attractive to buyers.
Now could be a sensible time to sell. Taking specialist advice and targeting the correct market will be crucial to achieving a successful outcome.
If you are considering selling your farm or land, please contact a member of our farm agency team to discuss your plans in confidence.
