Farmland price at record levels

FARMLAND prices rose 11 per cent to a record £6,882/acre (£17,005/hectare) in 2013.

Head of agent Knight Frank’s new agricultural investment acquisitions department Tom Raynham said: “Increases in land value also represent a 210 per cent uptick over the last ten years and we expect further growth of six per cent in 2014.

“The rise in value highlights why land is being looked on favourably for investment by funds and wealthy individuals.

“Serious investors are increasingly prepared to do off-market deals to secure the right investments.

“Prices have exceeded £10,000 per acre in some cases.”

James Prewett, head of regional farm sales at the firm, said: “Farmers, adjoining landowners and both individual and institutional investors are among bidders. It shows the depth of the market for the right land.”

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