Two major agricultural estates are coming to market with a total price close to £90million
The estates of Coldham and Goole, in the counties of Cambridgeshire and South Yorkshire, are for sale on behalf of Urban&Civic, with agents Savills and Bidwells jointly managing the process.
Together, the estates total over 8,350 acres, including 20 residential properties and 30 wind turbines.
The Coldham estate, comprising 4,179 acres, is for sale as a whole or in three lots, with a guide price of £43.5 million for the whole.
Situated in the Cambridgeshire Fens, renowned for its fertile soils, the majority of the land is Grade 1 listed with the remainder being Grade 2.
The rich alluvial soils are versatile and suitable for growing grains, oilseeds as well as potatoes, field vegetables, onions and sugar beets.
Significant investments have been made in infrastructure in recent years, and crop storage facilities include 8,300 tonnes of grain storage and 4,060 tonnes of ambient temperature potato storage.
Two reservoirs, with a total storage capacity of 230,000 m3, are located on the estate, which also benefits from three summer abstraction permits and two underground irrigation pipes serving the majority of the land.
The residential portfolio includes a nine-bedroom house; Coldham Hall, a farm and 13 cottages, adjacent to the farms or in the village of Coldham.
The Coldham estate includes a number of renewable energy revenue streams through various leases.
Coldham Wind Farm, commissioned in 2005, comprises eight wind turbines and a substation, while White Mill Windfarm, commissioned in 2012, comprises six wind turbines on freehold land.
Terms have been agreed with Scottish Power Renewables for the construction of a new 43-acre ground-mounted solar farm with work due to begin shortly.
Comprising 4,206 acres, the Goole Estate is also for sale as a whole, with an indicative price of £44million, or in four lots,
The land is a mix of Productive Grade 1 and 2, well suited to growing high-yielding crops of wheat, barley, rapeseed, potatoes, vine peas and sugar beets.
It is mostly inside a circular fence with two recessed blocks.
The majority of the estate is farmed by hand, and there is a small investment farm of around 80 acres.
Significant investment has been made in infrastructure and crop storage in recent years, which now includes 10,400 tons of combinable crop storage, much of it connected to a large capacity continuous flow dryer, and 3,500 tons of storage of potatoes at controlled room temperature.
Irrigation is provided by two reservoirs, with a combined capacity of 115,000 m3, and various summer and winter abstraction licenses as well as two irrigation pipelines serving a large part of the territory.
The amenity value of the Goole estate benefits from its proximity to the Blacktoft Sands, which adjoin the northern boundary and are the largest tidal reed beds in England.
The estate includes two farmhouses; one of which historically had planning permission for redevelopment into a modern eco-farm and visitor reception facility.
Additionally, there are three other residential properties.
There are two separate wind turbine projects across the estate, known as Twin Rivers Wind Farm and Goole Fields II Wind Farm.
The Twin Rivers Wind Farm, commissioned in 2015, has 14 wind turbines, while the Goole Fields II Wind Farm, commissioned in 2015, has two wind turbines.
Philip Leech, Director of Urban&Civic, commented: “Following a strategic review of our land holdings, the decision has been taken to sell The Coldham and The Goole Estates, which do not fit the parameters of our current property portfolio and our basic land ownership strategy. .
“The proceeds from the sale will be used to fund future strategic land acquisitions and property management.”
Charlie Paton, director at Savills within the National Farms and Estates team, the joint sales agents, said: “Properties of this scale and quality very rarely come onto the open market.
“The versatility and production capacity of these two agricultural units, which benefit from various sources of additional income (including renewable energy), means that these estates are well positioned to operate and deliver in the changing agricultural and environmental landscape.”
Roland Bull, Head of Rural Investment at Bidwells, Managing Agents and Co-Sellers, added: “It’s not often you see two large blocks of such productive and versatile land hitting the market at the same time, meaning that this twin sale presents both existing land owners and new entrants with the opportunity to buy farmland on the market, at scale and in a single transaction.”