Carpenter Surveyors carry out valuations of agricultural property across a wide variety of property and valuation types. Agricultural Valuations are required in many situations including probate valuations for inheritance tax, capital gains valuations in connection with the sale or transfer of assets, matrimonial dispute valuations and company partnership rearrangement, dissolution or litigation. This covers all types of Agricultural property including:
For over twenty-five years Carpenter Surveyors have been respected agricultural valuers providing valuations for a wide range of corporate and specialist lenders, companies and private individuals. Carpenter Surveyors can provide valuations and specialist evaluations for:
Estates can comprise a large period property with just a few acres and ancillary property, to houses with several thousand acres and numerous properties with land in hand and let. Estates can be challenging to value and it’s important to understand not just local and national factors, but the international market perspective to really fix value reliably.
Working farms differ from small holdings, usually being complete working farming units having a minimum of 100 acres, but can be smaller depending on the quality of the land.
Working farms usually comprise a farm house and possibly additional cottages, and a range of working buildings for housing stock and produce; together with a arable and pasture land depending on the type of farm and enterprises.
The value will depend on the size and quality of the land together with associated buildings and the main living accommodation. The viability of the farm is important to make it of interest to both neighbouring farms as well as those looking to buy as an independent unit. Easement and rights of way together with restrictive covenants can have an effect on value, particularly Overage Payments.
A significant degree of skill and experience is requiring assessing the value of working farms.
Market pressures favour farming expansion for economy of scale and there’s nearly always interest from working farms when bare land comes onto the market. The value of bare land depends on soil type, size and topography and importantly the market demand from local farmers. However, it’s not just farmers in the market. Investors buy parcels of land looking to longer term capital return rather than short term income. Clients who have capital to roll over from sales of investment land are returning to the market as the economy improves and there is more activity in the housing and particularly the new build market.
Small Holdings range from market garden and poultry enterprises, to hobby farms and those seeking their own version of the ‘good life’. They can vary from just a few acres to up to 50 or 60 acres and are as wide and diverse as the people that occupy them.
Small holding valuation is a particular skill and depends on a wide range of factors. One key area is the planning status of the property which, if tied to the land with planning conditions, usually known as a Agricultural Occupancy Condition, can have a significant effect on value. Up to 50% of the value of the property can be knocked off in some circumstances, whilst in others it has a minimal effect. The valuers experience is essential in accurately determining these factors.
Equestrian Property can vary from the specialist racing stables as seen around Newmarket, to more general equestrian property with stable ménage and riding facilities such as a covered exercise yard to a simple property with stables and land.
All require varying degrees of experience and skill in valuation.
Carpenter have valued many and varied specialist properties such as racing stables and the value depends on location and the type of facilities, with many of the older yards now not ideal for the current Racing scene.
Less specialist equestrian property has always had a wide appeal although the recent recession has had a significant effect with fewer pony and horse owners reflected in decreased demand. This may change as the economic outlook changes. However, there is still a demand for equestrian property with the facilities and development potential being key factors driving value. An understanding of this market and the many factors that can affect it is essential to providing accurate valuations.
There is an increasing market for amenity woodland rather than any specific agricultural or rural use. Carpenter has been involved Woodland valuations where recreation value has been the key factor above any residual commercial use.