2015-03-27 |
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Land Prices Buoyant at First Sale of 2015
At their first land sale of 2015, H&H Land & Property have demonstrated that land values are continuing to rise and that farmers are still keen to add to their holdings, and that land is definitely a place for investors to put their money.
Selling a total of 102 acres the land averaged £10,941 an acre, well above the average guide prices. The highlight of the sale, which was held at Borderway Auction Mart, was 2.9 acres of land at Wetheral Shields selling for £14,675 an acre.
Thomas Armstrong, Auctioneer and Land Agent, for H&H Land and Property
Matthew Bell of H&H Land and Property, said: “This was our first auction of the season and the prices achieved demonstrates that the rural land sector continues to grow in confidence. The ring was packed, and there was keen competition by landowners and farmers looking to increase their holdings and others buying land for investment.”
At High Hesket 69 acres sold for £805,000 or £11,631 per acre, which was 41% more than the guide price of £570,000. Land near Abbeytown, 15.52 acres sold with a guide of £125k, went under the hammer at £135,000 which was £8,698 per acre. At Houghton 7.81 acres sold for £85,000 an average of £10,883 per acre.
Not only was the sale the first of the season, it was a first of a lifetime for Thomas Armstrong, Auctioneer and Land Agent, for H&H Land and Property. He was commissioned to sell his first block of land and was delighted when the land at Wetheral Shields went on to reach almost 75% more than the asking price.
H&H Land and Property currently have a number of parcels of land and farms to sell across the North of England and South West Scotland.
