AGENCY REVIEW 2016
Introduction The Adkin Agency Review for 2016 focuses on the sales and acquisitions of farms, estates, residential property, development sites and amenity land which we have transacted in Oxfordshire and surrounding counties over the past 12 months. The local land market saw a significant reduction in the amount of property coming forward in the first half of the year. It was evident that the Brexit Referendum on the 23rd June provided market uncertainty in a similar manner to a General Election. The potential impact by Brexit on the UK s agricultural industry, trade, immigration and value of sterling appeared to temper approaches to both selling and price expectation. Adkin launched Lyford Grange and The Bishops Court Farm Estate to the market in early June ahead of the Referendum and successful sales were negotiated on all Lots by August. Local demand proved key to driving competition although it was noted that the heights of the 2015 market were now behind us. 2016 has seen a late flurry of farms and estates to the market in Oxfordshire and Berkshire with the full results pending in early 2017. The first half of 2017 may well prove 60 Net balance, % Supply of Farmland that those selling the previous summer did well to get ahead, 40 20 Residential Commercial although it has not gone unnoticed though that there is an increasing number of purchasers taking 0 advantage of tax reliefs with sales -20 of land for development continuing locally and further afield. -40-60 1999 2001 2003 2005 2007 2009 2011 2013 2015 10000 per acre - median price obtained from surveyor opinion on typical market value Bare Land Prices - opinion based data Source: RICS Land continues to be a safe haven in times of change and the variety of local, regional and national purchasers still keen to source well appointed Photo Caption property is likely to continue for some time to come. 8000 6000 The following pages provide more detail of some of our transactions in 2016. 4000 2000 0 Arable Pasture 2004 2006 2008 2010 2012 2014 2016 For further information or an up to date market appraisal please contact our Head of Agency, Andrew Chandler on 01235 862 888 andrew.chandler@adkin.co.uk
Farms & Estate Sales Dorchester-on-Thames, Oxfordshire 845 acre mixed estate SOLD Guide Price 11,000,000 Another Story Headline Your headline is an important part of the newsletter and should be considered carefully. In a few words, it should accurately represent the contents of the story and draw readers into the story. Develop the headline before you write the story. This way, the headline will help you keep the story focused. Examples of possible headlines include Selling Your Home and New Office Opens Near You. If you have to break a headline into two rows, try to find a natural break in the content. Each line should stand alone so that your readers can easily understand what is in the story even while skimming. Newspaper editors consider headline writing like poetry. How can you get the reader s attention and draw them into the story in only a few words? Meanwhile, you don t want to give too much away, or the reader doesn t even have to read the story to understand the content. Lyford, Oxfordshire 477 acre residential farm SOLD Guide Price 8,000,000
Land Sales Our year in numbers: Continuing the success of 2015, Adkin has maintained its market share of agency instructions. A number of private sales have also been conducted for clients wanting that extra discretion. Stanford in the Vale, Oxfordshire 54 acres arable and pasture SOLD STC Guide Price 435,000 Our collective figures for 2016 are shown below: ACRES 1,400 Since January 2016 we have sold in excess of 1,400 acres of farmland in Oxfordshire and surrounding counties. VALUE 39m Our agency year has seen us handle in excess of 39m of sales including farms and estates, residential property, development sites and also amenity land. Clifton Hampden, Oxfordshire 18 acres bare arable land SOLD Guide Price 180,000 ACQUISITIONS 6.5m We have helped our clients acquire just under 6.5m of property including farmland in Oxfordshire, poultry units in Wiltshire and Somerset and residential property in both Oxfordshire and London. Hermitage, Berkshire 5 acres and stables SOLD Guide Price 80,000
Residential Sales Agency Sales: Adkin has a dedicated agency team focusing on property sales and acquisitions. West Ilsley, Berkshire Period semi-detached cottages SOLD STC Guide Price 400,000 We are well accustomed to transactions both on the market or privately, and whether it is disposal or acquisition we provide concise and objective advice. Using appropriate methods of sale, we help to maximise the value of our client s property assets through our local knowledge and extensive experience of the property market. Harwell, Oxfordshire Detached bungalow SOLD STC Guide Price 525,000 Dealing with a very diverse range of properties we cover: Farms, estates and bare land Smallholdings Farmhouses Village and rural property Equestrian properties Harwell, Oxfordshire Detached bungalow and land SOLD STC Guide Price 450,000 Paddocks and amenity land Development sites Building plots Commercial property Woodland
Residential Development Sales Development sales overview: Alongside its varied and extensive agricultural sales, Adkin regularly deals with the sale of land and property for development. From sites with planning permission for single rural dwellings through to extensive edge of town housing estates, we maintain a proactive database of potential buyers. Stadhampton, Oxfordshire Site with PP for up 65 dwellings SOLD Guide Price 6,000,000 We retain good relationships with local, regional and national house builders providing our clients land and properties with good exposure at all times. Our collective figures for 2016 are shown below: Harwell, Oxfordshire Site with PP for 16 dwellings SOLD STC Guide Price 2,250,000 UNITS 141 During 2016 Adkin have sold property and development sites with planning permission for 141 units. SALES TOTALS 15m Throughout 2016 our total sales of land and property for development is in excess of 15m. Calne, Wiltshire Site with PP for 53 dwellings SOLD STC Guide Price 3,000,000
Residential Development Promotion Agreements: The forerunner to a successful development land disposal is often in its concept which can be years in advance. Valley Park, Oxfordshire Promotion Agreement 200 Acres 2,100 Dwellings Be it via self promotion, promotion agreements or options Adkin are actively involved on behalf of many landowners. We can advise on the suitability of all routes taking into account our clients requirements. We are currently dealing with the following opportunities: ACRES 2,700 + Long Hanborough, Oxfordshire Promotion Agreement 12 Acres 120 Dwellings We are advising clients on more than 2,700 acres of land either in agreements or with terms agreed. UNITS 20,000 + The land detailed above is likely to deliver in excess of 20,000 dwellings. Brightwell-cum-Sotwell, Oxfordshire Option Agreement 6 acres 25 Dwellings Adkin is well placed to identify the right solution to help take land and property through the planning process. A detailed knowledge of the parties, property, market and the agreements involved is key as well as the anticipated end result.
SERVICES Estate and Farm Business Management Planning and Development Grants and Subsidies Property Agency Valuation Julian Sayers Director Estate Management All aspects of estate management, strategic estate planning, property acquisitions, promotion and sales of development land, agricultural tenancies, landlord and tenant negotiations. Simon Alden Director Planning and Development Advice in relation to the change of use of rural buildings, barn conversions, strategic development, building plots and residential development, Options & Promotion agreements. Sarah Payne Director Grants and Subsidies Up to date advice and consultation in connection with all rural grant schemes including Basic Payment and other farm and countryside support schemes. Andrew Chandler Associate Director Property Agency The sale or purchase of farms and estates, residential and commercial property, development land, building plots and paddocks using extensive knowledge of regional values and strategy. Emily Ham Associate Director Valuation Provision of valuations of all types of rural property for both private and corporate clients to include probate, secured lending, tax planning, transfer, marketing, stocktaking and expert witness. For more information about our services please speak to one of our contacts: Adkin, Orpwood House, Ardington, Wantage, Oxfordshire OX12 8PQ T 01235 862 888 E mail@adkin.co.uk W www.adkin.co.uk