In an ever changing world and one full of uncertainty, property and especially agricultural land and property is regarded as a secure, safe haven to protect capital investment.
As recognised specialists, Woolley & Wallis enjoy a proud record of handling the sale and purchase of farms and country estates for clients. The recent political turbulence both within Europe and further afield has resulted in a marked upturn in the level of enquiries from buyers.
These enquiries are generally from high net worth individuals and families seeking to shelter and protect their capital wealth. Whilst there are a multitude of reasons for buying agricultural land or a country estate, we have witnessed a lack of supply in good quality farms coming to the market (whether open market or off market). This situation has created a number of competitive bidding situations developing where cash buyers have fought for their bid to be accepted by a seller. We are seeing an increase in the number of potential buyers and at present, with the high level of land values, sellers are still wary about coming to the market. In light of the withdrawal from the EU, there can hardly have been a better time to sell.
Buyers come in many guises and we are seeing a marked upturn in the amount of buyers with “roll-over” relief. As various villages, towns and areas are developed, a large proportion of farmers who have sold land for residential or commercial development, are keen to acquire another agricultural property. They can, in effect, pay 20% more than a normal buyer as they are allowed to use their development receipts to reinvest into another business property. Naturally there are rules to adhere to but in short roll over funded purchasers are keen to press on and find the right farm as they only have a 3 year window to roll over their capital
Sophie Clotworthy of Woolley & Wallis said “We are in a strong position to advise both sellers and buyers on the right value of rural and agricultural property. With plenty of money chasing a shortage of good quality property, 2017 will be an interesting year and prices look to remain firm.”
Farm & Rural Agent