AGENCY REVIEW 2018/19

Estate Management

Valuations

Planning and Development

Property Sales and Acquisitions

Farm Business Management

Adkin manage a wide range of rural property portfolios ranging from

estates to individual farms and cottages. We act for a range of

clients including private landlords, institutions, charities, corporate

entities and trusts.

Being well accustomed to transactions both on the market or

privately and whether it is disposal or acquisition we provide concise

and objective advice. Using appropriate methods of sale, we help to

maximise the value of our clients’ property.

We provide comprehensive advice in relation to residential

development land as well as the re-development of all types of rural

land and buildings acting throughout Oxfordshire, Berkshire, Wiltshire

and further afield.

Adkin specialise in the valuation of all types of rural property. Our

experience and expertise covers a range of property types enabling

us to undertake a range of valuations including rural cottages,

houses, farms and estates.

For clients that do not require our estate management service but

have farms or farmland, we can provide farm business management

advice including contract farming, accounting and book keeping.

Rural Grants and Subsidies

Compulsory Purchase

and Compensation

As an RICS regulated firm and members of the Central Association

of Agricultural Valuers, Adkin have access to the most up to date

news and advice with regard to rural grants and subsidies including

the Basic Payment Scheme.

As members of the Compulsory Purchase Association, Adkin are well

placed to provide comprehensive advice on compulsory purchase

and compensation matters both in a rural and residential setting.

Professional Services

We pride ourselves on the provision of an up to date and practical

professional service to all our clients. Covering an extensive range

of disciplines, independent of our other work this includes

diversification, succession and tax planning.

Services

Introduction

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Welcome to our latest Agency Review for 2018 which also looks forward to expectations for 2019. This year’s review

focuses particularly on sales of farmland, estates and development properties but also covers our ever increasing work in

respect of promotion agreements and options for residential development sites over the past twelve months.

The continuing uncertainty resulting from the ongoing Brexit negotiations and the implications of the Agriculture Bill amongst

other factors have caused a general cooling of commercial farm land values particularly in the arable sector where average

prices for larger blocks have slipped by around 3% in the south-east region to close at figures in the region of £8,500 to

£9,750 per acre against an increase in supply nationally. Average pastureland values, again in larger parcels have fared

rather better, showing a marginal increase in the region of 3%, ending at figures in the region of £6,500 to £8,500 per acre.

However, there continues to be a substantial premium for smaller blocks of accommodation land where average prices have

seen a marginal rise, selling at figures in the region of £12,000 to £15,000 per acre.

So much for statistics and average values; as we have regularly achieved sales over the past twelve months in excess of

£10,500 per acre for good sized blocks of arable land, reflecting the tight supply locally. As the proceeds of development

land sales continue and supply remains tight, we expect values to hold firm over the coming year, particularly as agricultural

property retains significant tax advantages over other asset classes.

Turning now to the residential development land market, having transacted in excess of £60 million of land last year, we are

seeing values hold up well in the area. Whilst increased supply is a continuing factor, values remain robust with a modest

increase, particularly for the smaller sites with a lower infrastructure burden. Demand is particularly strong across the

Midlands and further north as developers aim to maintain margins by focusing away from the London markets. Greater

demand from Housing Associations has also emerged to strengthen the market as they continue to pursue the development

of open market housing in order to cross-subsidise the delivery of affordable housing.

We hope this review provides a useful insight into the volume and type of agency work that Adkin continues to deliver on

behalf of our many clients. The following pages detail just some of our transactions over the last twelve months. Should you

wish to discuss your requirements for an up to date marketing appraisal, please speak to one of our team whose details are

on the back page.

Great Coxwell, Faringdon, Oxfordshire 148 acre arable and pasture land | SOLD Guide Price £1,300,000

Kings Farm, East Hanney, Oxfordshire 18 acres arable | SOLD | Guide Price £200,000

Winslow Road, Granborough, Buckingham 2 acres pasture | UNDER OFFER | Guide Price £50,000

Land Sales

Our year in numbers:

Adkin has continued its active

involvement in the agricultural

land market both publicly

advertised and off-market. We

have again seen a tighter

supply, with development land

sales taking the limelight. We

anticipate that this will continue

to build demand, setting the

scene for an opportunity to lock

into robust values over the

coming year for those wanting to

redirect their property

investments and businesses.

Our collective figures for 2018

are shown below:

ACRES | 1,175

Over the last twelve months we

have sold in excess of 1,175

acres of farmland and estates in

Oxfordshire and the surrounding

counties.

VALUE | £80 million

Last year our agency

department handled around £80

million of sales including

farmland, estates, residential

property and residential

development land.

Agency Sales:

Adkin has a dedicated agency

team focusing on property sales

and acquisitions.

We are well accustomed to

transactions both on the market

or privately, and whether it is

disposal or acquisition we provide

concise and objective advice.

Using appropriate methods of

sale, we help to maximise the

value of our client’s property

assets through our local

knowledge and extensive

experience of the property

market.

Dealing with a very diverse range

of properties we cover:

• Farms, estates and bare land

• Smallholdings

• Farmhouses

• Village and rural property

• Equestrian properties

• Paddocks and amenity land

• Development sites

• Building plots

• Commercial property

• Woodland

Development Sales

Watlington, Oxfordshire | 4.90 acre plot with buildings SOLD | Guide Price £750,000

Watlington, Oxfordshire | 0.16 acre plot with buildings UNDER OFFER | Guide Price £450,000

Barton, Oxfordshire | 0.11 acre plot SOLD | Guide Price £185,000

Ardington, Wantage Oxfordshire | Yard for redevelopment SSTC| Offers in excess of £1,500,000

South Stoke, Reading | 1.69 acre plot SOLD | Guide Price £1,100,000

Development sales overview:

Alongside its varied and extensive

agricultural sales, Adkin regularly

deals with the sale of land and

property for development. From

sites with planning permission for

single rural dwellings through to

extensive edge of town housing

developments, we maintain a

proactive database of potential

buyers.

We retain good relationships with

local, regional and national house

builders providing our clients land

and properties with good

exposure at all times.

Our collective figures for 2018 are

shown below:

UNITS | 1,100

During 2018 Adkin have sold

property and development sites

with planning permission for in

excess 1,100 units.

SALES TOTALS | £60m+

Throughout 2018 our total sales

of land and property for

development was in excess of

£60 million.

In addition, we have an

established pipeline of sites going

through planning which will come

to the market in due course.

Blewbury, Oxfordshire | 0.58 acre plot SOLD | Offers in excess of £600,000

Development Sales

Development Promotion

Promotion Agreements:

The forerunner to a successful

development land disposal is

often in its concept which can be

years in advance. Be it via self-

funded promotion, promotion

agreements or options , Adkin are

actively involved on behalf of

many landowners. We can advise

on the suitability of all routes

taking into account our clients

requirements. We are currently

dealing with the following

opportunities:

ACRES | 2,600 +

We are advising clients on more

than 2,600 acres of land either in

agreements or with terms agreed.

UNITS | 16,500 +

The land detailed above is likely

to deliver in excess of 16,500

dwellings.

Adkin is well placed to identify the

right solution to help take land

and property through the planning

process.

A detailed knowledge of the

parties, property, market and the

agreements involved is key as

well as the anticipated end result.

Please call Simon Alden for

further enquiries.

Wootton, Oxfordshire | Promotion Agreement 80 Acres | 700 Dwellings

Eynsham, Oxfordshire | Promotion Agreement 470 acres | 2,200 Dwellings

Kidlington, Oxfordshire | Promotion Agreement 25 Acres | 100 Dwellings

CONTACTS Estate and Farm Business Management | Planning and Development | Grants and Subsidies | Property Agency | Valuation

Julian Sayers FRICS FAAV Director

Estate Management

Kerry Holbrook-Bull BSc (Hons) MRICS FAAV Director

Estate Management

For more information about our services

please speak to one of our contacts:

Adkin, Orpwood House, Ardington,

Wantage, Oxfordshire OX12 8PQ

T | 01235 862 888

E | mail@adkin.co.uk

W | www.adkin.co.uk

Sarah Payne BSc (Hons) MRICS FAAV Director

Grants and Subsidies

Simon Alden MRICS FAAV Director

Planning and Development

Emily Ham BSc (Hons) MRICS FAAV Director

Valuation

All aspects of estate management, strategic estate,

planning, property acquisitions, promotion and sales of

development land, agricultural tenancies, landlord and

tenant negotiations.

Advice in relation to the change of use of rural buildings,

barn conversions, strategic development, building plots

and residential development, options and promotion

agreements.

Up to date advice and consultation in connection with all

rural grant schemes including Basic Payment and other

farm and countryside support schemes, contract farming

agreements and accounts.

Comprehensive advice to landowners and occupiers on a

wide range of matters specialising in rural, residential,

agricultural and commercial management and all landlord

and tenant matters.

Provision of valuations of all types of rural property for

both private and corporate clients to include probate,

secured lending, tax planning, transfer, marketing,

stocktaking and expert witness.