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
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.