Gleaston Castle Farm sells above asking price to local famers
Two weeks ago, H&H Land & Estates held a public auction at Aldingham Parish Hall for the sale of Gleaston Castle Farm near Ulverston in Cumbria.
For sale by auction as a whole or in five lots and comprising of a four-bedroomed farmhouse, a variety of traditional and modern farm buildings, and 212 acres of fertile arable and grazing land, Gleaston Castle Farm sold for a total of £2,372,000 almost 20% more than the guide price.
All lots sold individually for more than their guide prices, with two notable lots being 17 acres of pastureland selling for £12,610 per acre which was 65% more than its guide of £130,000, and Mere Tarn with 7.5 acres of land, which sold for almost 100% more than its guide price for £75,000, representing £22,628 per acre.
In recent times property and land has been in considerable demand, and with competitive bidding throughout, this auction demonstrated that the appetite for land continues. The hall was full and three of the Lots were purchased by local famers.
Commenting on the sale Colin Tomlinson, Managing Director at H&H Land & Estates said:
“This was an outstanding sale. We knew there would be considerable interest in the main property, the house and portion of land, but there was also a phenomenal interest in the outlying plots. Land prices are exceptional at the moment and the demand for land continues to outstrip the supply.
“With the reduction in farm payments, increasing input costs and agflation, these are challenging times for farmers, however, this sale demonstrates that these issues are not deterring people in investing in land and property and that there is confidence for the future of the agricultural land market.”
It seems that high land and property prices are here to stay as the continued upward trend shows. This is a good time for sales and anyone interested in selling can contact the H&H Land & Estates Kendal office on 01539 721375 or at [email protected].