THERE has been a continued and strong demand for farms and land in Scotland this year.
That was the message this week from Duncan Barrie who heads up the Galbraith national farm sales centre. Mr Barrie said: “This, coupled with a relatively short supply of property coming to the market when compared to previous years.
“Prices have remained resilient despite all of the issues connected with Covid-19 and the wider economic impact of the pandemic and also future policy due to the ongoing Brexit discussions. There remains a significant and healthy interest from existing landowners, particularly for productive arable land, but also non-farming interests looking for land which may be suited to both commercial and now native tree planting in order to offset carbon.”
Galbraiths have three properties which generated a high number of competing bids, especially, this year.
• Hillhead of Catter (Croftamie, Stirlingshire) which had 543 acres and was marketed at offers over £1,695,000. This sold well at a closing date. The property enjoys a very picturesque location in the Loch Lomond and Trossachs National Park, but is easily accessible to Glasgow, Stirling and the central belt.
• Little Drumquharn (Balfron Station, Stirlingshire) with 153.20 acres; marketed at offers over £1,000,000 and sold well. A residential and amenity estate with a farmhouse and two further properties, a range of farm buildings and good pasture land interspersed with native woodland.
• Mill of Kincardine (Laurencekirk, Aberdeenshire) 288 acres; marketed at offers over £3,100,000. A highly productive farm with good arable land, an attractive Victorian farmhouse and three recently modernised cottages. Planning permission for further development had been secured. The property is set amid the rolling hills of the Howe o’ Mearns.
“Next year, despite the lack of clarity on the post-Brexit subsidy framework, we expect a good number of farms and land to come to the market. Some owners considering early retirement and without successors may seek to exit the sector altogether while others may wish to divide a larger property in order to capitalise on strong demand for land from neighbours or non-farming interests”, concluded Mr Barrie.
“Access to finance remains relatively straightforward and interest rates remain low, which will aid the majority of purchases where outside funds are to be sourced.
“The residential property sector has enjoyed a particularly strong year despite the market closure in the first half of the year. Galbraith recorded a 20 per cent increase in residential sales from April to November 2020, compared with the same period in 2019. The shift to home working and the relatively weaker appeal of urban life this year have considerably boosted demand for rural homes across Scotland.”