TW Gaze marsh lettings reveal a rise in grazing land prices
PUBLISHED: 14:59 31 March 2017 | UPDATED: 14:59 31 March 2017
Archant Norfolk Photographic © 2009
The value of grazing land in the Broads has increased “considerably” during the last year, said rural business agents after their annual marsh lettings.
The auction of just over 800 acres of grazing land, mostly on Haddiscoe Island near Beccles, was conducted by TW Gaze, a rural property firm and auction rooms based in Diss.
Marshes sold for an average of £87.31 per acre, up 40pc on the 2016 average of £62 per acre.
Prices at Monday’s sale, which was held at the Bell Inn in St Olaves, ranged from £60 per acre up to a top bid of £110 per acre, for two marshes belonging to John Cole Farms.
Rachael Hipperson, a rural business director at TW Gaze, said: “The hirers were mostly locally-known farmers from Norfolk and Suffolk but there were also two hirers from away, notably Kent and Sussex attracted by the availability of experienced marshmen within a low TB (bovine tuberculosis) risk area.”