41.62 acres of land at Corsend Road, Hartpury.
It’s not the end of the world yet!
The agricultural press has been full of lowering agricultural land values due to lowering commodity and lack of farming profits. This has been exasperated by the recent European Referendum.
Taking an agricultural property to auction may seem a brave thing to do in these uncertain times. Brightwells Hereford office could see that auction was the best method of sale for 41.62 acres of land at Corsend Road, Hartpury.
A good crowd conveyed at The Swan in Staunton to watch the drama unfold - was it going to be a victory for the ‘in’ or ‘out’ campaign? Has Brexit caused a crash in agricultural land values?
The stage was set and the bidding soon progressed over the £380,000 guide price, with two opposing factions going toe to toe up to the final selling figure of £425,000.
Jeremy Jehan, auctioneer from Brightwells said afterwards “I am extremely pleased with the result, in the days leading up to the sale I had wondered if auction was the right method of sale, but tonight has vindicated that decision and it is the only way to achieve true competition in the market place to find the real value of something. The talk has been of lowering values, and this is the case in a lot of areas, but where you have neighbouring famers investing, the £10,000 per acre is still possible”.