Norfolk farm property and machinery are in demand, say auctioneers from Irelands Arnolds Keys
Brisk bidding for Norfolk farm property and machinery proves the agricultural market remains buoyant despite Brexit uncertainties, according to auctioneers.
Irelands, the agricultural division of property services firm Arnolds Keys, said all lots in its recent property auction found buyers, including Bridge Farm at Stratton Strawless, a 72-acre largely arable concern, which sold to a local buyer for £1.35m – more than 20pc above its pre-sale estimate.
The sale included a number of other parcels of land in north Norfolk, as well as a prime retail/residential investment on Stalham High Street, which sold for £297,500, well above its pre-sale estimate of £190,000.
The auction was held at the Aylsham salerooms of Keys Fine Art Auctioneers, also part of Arnolds Keys.
Meanwhile a sale of modern farm machinery and equipment at Church Farm, Shropham saw around 330 lots go under the hammer, in front of bidders from as far afield as Devon, Wales and Derbyshire.
The sale – including specialist vegetable equipment as well as more typical arable machinery – saw brisk bidding with star lots including a John Deere 7310R which sold for £119,000, a Massey Ferguson 7618 tractor which sold for £48,500, and a New Holland T6.160 tractor which sold for £40,000.
Simon Evans, agricultural partner for Irelands Arnolds Keys, said: “The interest shown on both these sales demonstrates that the market remains buoyant despite the various uncertainties we are seeing.
“At the property auction we saw all the lots away, with almost all exceeding their pre-sale estimates. At the equipment sale trade on the day was excellent, with some items far exceeding our expectations.
“Values for older equipment, particularly cultivation equipment, remain low, reflecting the limited resale market for these items within the trade.”