A particularly busy time of year for the Farm & Land sales department of Luscombe Maye and a common query we receive is regarding the different types of methods of sale. Selling a farm or parcel of land can be a big decision for most people and the method of sale is a crucial decision.
Probably the most common method of sale is via “private treaty”, whereby an asking price is placed on the farm, land or smallholding and buyers are invited to make an offer on that asking price.
An example of a sale by private treaty is Vinivers, an attractive versatile smallholding with secondary accommodation currently on the market, located within probably one of the South Hams’ most idyllic locations, West Prawle. This property extends to a total of 10.01 acres of agricultural land and includes a detached bungalow, number of outbuildings and ancillary accommodation, with an asking price of £1,000,000.
The land at Moult Farm extends to a total of 26.98 acres and is located between the villages of Marlborough and the renowned harbour town of Salcombe. The land is all down to grass and hosts a combination of gentle, moderate and steep slopes. Moult Farm land is also being sold via Private Treaty with a guide price of £375,000.
Broadaford Farm offers a unique chance to own a sizeable detached farmhouse, 3 bedroom barn conversion, 1 acre of gardens, a timber stable block, hay store, a range of outbuildings and 4.07 acres of pastureland. Situated in the rural and secluded area of Bittaford, near Ivybridge, yet still an accessible location within easy reach of the A38 dual carriageway. The whole guide price for Broadaford Farm is £975,000 and it is being sold by Private Treaty.
Furthermore, for farms or land that are reasonably extensive in size, a more desirable and often more effective way of selling would be to offer the property for sale by tender. Firstly, “informal tender” where prospective buyers submit their best and final offer in a sealed envelope by the stated deadline date and in this case the buyer and seller are not contracted to the sale.
For example, Pond Farm, comprising of a traditional livestock farm with a farmhouse, bungalow, range of outbuildings and some 90.07 acres of land, is a prime example of a sale by Informal Tender. Pond Farm is located in Aveton Gifford, set within magnificent scenery with uninterrupted views overlooking the River Avon. With a guide price of £1,350,000, the closing date for tenders is Tuesday 4th July 2024 at 12 noon.
Kittymore Barn is a property that is in the wonderfully rural location of Ipplepen whilst being within easy driving distance to Totnes and the A38 dual carriageway. The detached stone barn offers potential for change of use to residential (subject to obtaining the necessary planning) and stands in 2.76 acres land. The guide price is £350,000 and is being sold by Informal Tender with a closing date of Wednesday 26th June 2024 at 12 noon.
An extremely unique opportunity to acquire 26.37 acres of coastal and cliff land, including a former Lentney defence battery (Grade II Listed), situated on the outskirts of Down Thomas, Westlake Bay offers direct access to the South West Coastal Path, spectacular views and development potential (subject to gaining necessary planning). The guide price for this land is £100,000 and is being sold by Informal Tender, closing date of Wednesday 10th July 2024 at 12 noon.
With a sale by “formal tender”, in addition to the best and final offer being submitted by a deadline date, a 10% deposit is also required by that same date. If an offer is accepted, this is then treated as a binding contract, effectively an exchange of contracts and legal completion would normally follow 28 days thereafter.
An example of a property being sold by Formal Tender is Knighton Farm, a truly unique opportunity to acquire a 44.51 acre residential and livestock farm, situated between the villages of East Allington and Goveton, near Kingsbridge. In need of complete modernisation and refurbishment this property includes a former farmhouse, stone and modern farm buildings. The guide price for Knighton Farm is £650,000 with a closing date of Wednesday 31st July 2024 at 12 noon.
Moreover, a 7.07 acre parcel of agricultural land that is currently on the market also being sold via Formal Tender, is the land adjoining Touchwood, situated amongst the stunning countryside of Littlehempston. A useful parcel of farmland, all down to grass and offering a range of potential uses (subject to planning) with a stream and mains water supply. The guide price for the land is £95,000 and deadline date for tender submissions is Tuesday 9th July 2024 at 12 noon.
For further details or to arrange a viewing, please contact Luscombe Maye Farms and Land department on 01548 800183 and visit our website to see the full listing details at www.luscombemaye.com.