IRELANDS REPORT BRISK BIDDING AT PROPERTY AND MACHINERY & EQUIPMENT AUCTIONS

Brisk bidding by buyers from around the UK at two auctions conducted by Irelands, the agricultural division of property services firm Arnolds Keys, shows that the agricultural market is remaining buoyant, despite uncertainties caused by Brexit.

All lots in the firm’s property auction found buyers, including Bridge Farm at Stratton Strawless, a 72 acre largely arable concern, which sold for £1.35 million, more than 20 per cent above its pre-sale estimate.  The buyer was local.

The sale included a number of other parcels of land in north Norfolk, as well as a prime retail/residential investment on Stalham High Street, which sold for £297,500, far above its pre-sale estimate of £190,000.

The auction was held at the Aylsham salerooms of Keys Fine Art Auctioneers, also part of Arnolds Keys.

Meanwhile a sale of modern farm machinery and equipment at Church Farm, Shropham saw around 330 lots go under the hammer, in front of bidders from as far afield as Devon, Wales and Derbyshire.

Containing a wide variety of machinery, including specialist vegetable equipment as well as more typical arable kit, the sale saw brisk bidding, with star lots including a John Deere 7310R which sold for £119,000, a Massey Ferguson 7618 tractor which sold for £48,500, and a New Holland T6.160 tractor which sold for £40,000.

Irelands Arnolds Keys agricultural partner Simon Evans, said, “The interest shown on both these sales demonstrates that the market remains buoyant despite the various uncertainties we are seeing.

“At the property auction we saw all the lots away, with almost all exceeding their pre-sale estimates.  At the equipment sale trade on the day was excellent, with some items far exceeding our expectations.

“Values for older equipment, particularly cultivation equipment, remain low, reflecting the limited resale market for these items within the trade.”