Top tips for selling your farm or estate
Explore 8 recommendations for selling your farm or estate from Will Matthews, Partner, Head of Farms and Estates at Knight Frank.
2 minutes to read
With preparation being the key to performance Will Matthews shares his top pre-sale tips when commencing a sale of your farm or estate.
1. Your team
It really is a team effort between your agents, legal advisers, and accountants, so it's essential to identify and involve everybody from an early stage. Early preparation of the sales pack will give clarity and assist with a quicker exchange.
2. The ownership
If there are multiple parties, all will need to satisfy the proverbial client due diligence, and it's vital to ensure the division of the proceeds is agreed upon early on to avoid delays further in the process.
3. The property
It sounds obvious, but check what it is you are actually selling. Is it a registered title, does the title plan match the boundaries, and what are the access provisions? Are there any restrictions or charges on the title that need notifying or releasing prior to the sale?
4. Retained land
Remember also to consider the impact of the sale on any retained land. Do you wish to apply positive or restrictive covenants placed on the land to be sold? These must all be agreed upon early on so they can be clearly identified to potential purchasers.
5. Statutory consent
Makes sure all necessary permissions for buildings and uses are in place or, if not, consider a timely application for a Certificate of Lawfulness.
6. Hope value
Where there is potential for further development or re-development of the property, an artist's impression or architect's drawings can help purchasers visualise the property's potential. Additionally, you could consider if a relatively inexpensive planning application for a new facility may add value.
7. The fundamentals
These are the elements that one may take for granted, but if they are not present, they affect the functionality of the property. This may not necessarily deter purchasers but may encourage room ‘negotiation’ on price. For an equestrian property, for example, these would include having working field troughs in every paddock, ensuring careful stocking to avoid poaching, and having safe, secure fencing and good drainage to enable year-round turnout.
8. Presentation
This is the easiest way to create a good impression. Even the basics of a tidy and organised yard with freshly mown lawns will be received far more positively than an unkept set-up. Caution, however, against over-capitalising - costs do not necessarily create enhanced value.
Ewelme Park, Nettlebed, Henley-on-Thames, Oxfordshire - £18,700,000
Superb Residential and Amenity Estate extending to 625 acres situated within the Chilterns AONB.
Lutyens-style Country House set in outstanding gardens overlooking the Chilterns Escarpment
8 principal bedroom country house | Beautiful gardens and grounds | Farmhouse | 4 Cottages | Tennis Court and Swimming pool | Farm buildings and Equestrian Facilities | Arable, pasture and woodland with excellent pheasant and partridge shoot.
How can our Farms and Estates team help you?