Rural Surveys and Valuation

Rural Valuation

Rural Surveys and Valuation

Carpenter Surveyors carry out rural valuations for a wide range of clients from Equestrian clients to farmers, estate owners, lending institutions and private individuals. Rural valuation requires considerable experience and an acute attention to the details.

Our advice covers a wide variety of property types in the rural sectors and includes:-

A background in Agricultural is essential, requiring a special degree of knowledge about farming and related rural matters.

Formal valuations are required in various 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.

Carpenter provides a wide range of rural surveys and Valuation advice including:

  • Secured lending for banks and other lending institutions
  • Taxation including negotiations with the District Valuer
  • Sales and Acquisitions
  • Estate planning and property transfers
  • Compulsory purchase and compensation
  • Matrimonial
  • Expert witness reports
  • Portfolio assessments and re-valuations
  • Annual stocktaking
  • Rental Assessments
  • Insurance Calculation

Pony Paddocks

Carpenter provide advice and valuations on land used for Equestrian use. This can vary from a small block of pasture land to land with stables Ménage and other facilities. The value can depend on many factors, which an experience agricultural value will be well able to assess.

Increasingly the planning status of all buildings on a site is important. Also, the recent changes in legislation on the use of agricultural buildings and change of use to residential and commercial use could have a big impact in the right circumstances.

Services are also important, particularly water. Overall, location is critical in all valuations and an experience valuer who knows your area well is beast placed to get it right. Size is a factor with the optimum size for pony paddocks in most areas is between 4 and 5 acres.
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Amenity Land and Woodland

Increasing people want to purchase area of land and woodland for amenity rather than any specific agricultural or rural use. We have been involved in the valuations of Woodland and land that from a Commercial perspective had little value, but as an area for amenity and recreation is significant.
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Bare Land

When agricultural land comes to market, it’s an important opportunity for existing farms to expand. Its value depends on soil type, size and topography; and importantly the local demand. Increasingly, investors are buying parcels of land looking for longer term capital return rather than short term income. Clients who have capital to roll over from sales of investment land, are now returning to the market as the economy improves and there is more activity in the housing and particularly the new build market.
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Small Holdings

Small Holdings range from market garden and poultry enterprises – to hobby farm and those that want to live 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.

Valuation of small holdings 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. That’s why the valuers experience is essential in accurately determining the factors that affect value.
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Working Farms

Working farms differ from small holdings in that they usually comprise a complete working commercial farming environment, usually having a minimum of 100 acres, but can be smaller depending on the quality of the land.

Most working farms have a farm house, 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, including any residential ‘farm house’. The commercial viability of the farm is an important factor to prospective buyers whether it’s a neighbouring farm or somebody coming into the market looking for an independent unit. Easement and rights of way together with restrictive covenants can have an effect, particularly Overage Payments. That’s why a significant degree of skill and experience is required to assess the value of these sometimes complex property assets.
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Equestrian Property

These can vary from the specialist Racing stables (as seen around Newmarket) to general equestrian property with stable ménage and riding facilities, such as a covered exercise yard. It also includes more basic property with stables and land. All require varying degrees of experience and skill in valuation.

Carpenters have valued many specialist properties such as commercial racing stables and the value depends on location, range and type of facilities with many of the older yards now not ideal for the current racing scene.

General equestrian property has always had a wide appeal although the recession has had an effect on demand. However, there is still a demand for equestrian property with the facilities and development potential being important factors in establishing value.

An understanding of this market and the many factors that can affect it is essential to providing accurate, meaningful valuations.
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Kennels and Catteries

Kennels and Catteries have always had a wide appeal to those looking to run a lifestyle business. They have been relatively recession proof and whilst overall numbers may have dropped, there always a demand for professional facilities. There is a current trend towards small boutique style kennels offering high quality accommodation for pets.

However, one of the biggest challenges to the current market is not the number of potential buyers, but the availability of finance. Consequently a valuation based on experience of the industry is important to any financing Partner. Like any business valuation it is partly based on the underlying property and facilities offered, but also on the profitability of the business itself.
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These can comprise a large period property with just a few acres and ancillary property, to grand houses with several thousand acres and numerous properties with land in hand and let. Such properties can be a challenge to value. Market demand can be international as well as national and all factors have to be considered. As always, in all cases there’s no substitute for real time earned valuation experience.
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