Margetts Farm is sold
MARGETTS Farm, in Buckden, has been sold for well in excess of the original guide price of £915,000. Joint agents Savills and Alexanders agreed a sale of the property as a whole prior to a planned auction at which it was due to be sold in five lots. The
MARGETTS Farm, in Buckden, has been sold for well in excess of the original guide price of £915,000.
Joint agents Savills and Alexanders agreed a sale of the property as a whole prior to a planned auction at which it was due to be sold in five lots.
The farm, which had been used for mineral extraction over the last few years, has been reinstated to agricultural land with four lakes and totals 180 acres. In the heart of the ring-fenced property is a derelict farmhouse providing a redevelopment opportunity overlooking the surrounding lakes, which offer unique conservation and recreational potential, the agents said.
Adrian Wilson, head of the rural department for Savills Cambridge added: "The level of interest generated by this property was very impressive and reflects the feeling in the current market.
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"With a relatively low supply of agricultural properties to the market and demand from all types of investors still rising, the market is in a very strong position. The change to the Capital Gains Tax regime in April 2008 is giving landowners more incentive to sell their properties before this date."
Despite the ongoing concerns over the future of the residential market, it appears that rural property is continuing to see very strong performance, Savills added.
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