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BTF Property Review October 2015 Brochure
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Land & Property Experts
Autumn/Winter 2015Property Review
Land & Property Experts
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Welcome
Welcome to our Autumn/Winter property review, with a look at some of our rural and commercial transactions that have taken place over the last few months.
Supply, whether it is land, property type or the right location remains an issue for many in the South East. Land values in particular continue to be dominated by local supply.
Land marketed in the first 6 months of this year has increased nationally by 36% based on the same period last year, with 13,034 acres of land in the South East.
Grade 3 grassland prices have increased this year by over 1% across England and by 2% in the South East, with the region once again out performing the rest of the country.
The commercial property market, especially in and around Canterbury is very driven by location, with properties on the key trading streets of the City Centre commanding a premium and changing hands very quickly.
Off market land and property sales remain strong with BTF involved in an increasing number of deals this year.
Looking ahead to 2016 and the possibility of interest rate rises, however gradual these may be, will put pressure on many businesses further. BTF are the leading AMC agents in the South East and should be your first point of contact for farm finance.
Finally at this time of year once harvesting has finished, it is always a good opportunity to review activities on and around the farm and the properties in your portfolio. If you would like to discuss a farm business or commercial property review, please get in touch to arrange a date.
Tom French Managing Partner
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Land & Property Review
High Halden, KentKent Barn for conversion Guide Price: £475,000
A selection of land and rural properties sold by BTF within the last 12 months
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www.btfpartnership.co.uk
SOLD
Nr Tenterden, Kent22.81 acres grasslandGuide Price: £185,000
Nr Hawkhurst, East Sussex 250 acres arableGuide Price: OIRO £1,800,000
Nr Canterbury, Kent107 acres arableGuide Price: OIRO £975,000
Nr Rye, East Sussex106 acresGuide Price: OIRO £530,000
Boxley, KentKent Barn for conversionGuide Price: OIRO £400,000
Nr Ashford, KentCountry house and landGuide Price: £900,000
Nr Smarden, KentFarmhouse, land and buildings 12.5 acres. Guide Price: £525,000
Nr Cranbrook, Kent70 acre fruit farmGuide Price: £2,000,000
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SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
Cash and rollover funds remains the main source of funding purchases, used by 80% of all buyers.
44% of non farming private sellers, sell to relocate. 30% are selling to invest in non farming assets.
The Land Market
85% of buyers of British farmland are British.
90% of sales by institutional, corporate and developer sellers is to free up capital to invest elsewhere.90%
85%80%
44%
↑Grade 3 grassland prices have increased by over 1% across England and the South East has once again outperformed most of the country, with prices rising by 2%.
Commercial property whilst it has the highest income yield, it has much lower capital growth of around 0% and +3%.
Average prime arable land values have continued to rise in the South East, with prices over £10k per acre.
For the first 6 months of 2015, 85,000 acres of land was publicly marketed across Great Britain, with 13,034 of that in the South East, across 48 farms. This is an increase of 36% based on the same period in 2014.
↑Debt 23%
Retirement 40%
Lack of a successor, death and relocation
accounting for other sales
Main reasons for farmers selling land
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Land & Property Experts
Poor quality agricultural land provides the lowest yield of all asset classes, however capital growth is still forecast over the next 5 years. Top quality agricultural land and all farmland are forecast to have average capital growth of between +5% and +8% over the next 5 years.
invested in farmland is still outperforming the other
investment categories Let Land, Let Residential,
Commercial property, Equities and Gilts.
Cash and rollover funds remains the main source of funding purchases, used by 80% of all buyers.
Farmer buyers
Commercial and residential property assets are looking more attractive with higher yields forecast. Watch out for Interest rate rises expected by 2016, which will put pressure on farm businesses struggling to service debts.
South East farmland values continue to be
dominated by local supply and the number
of potential buyers.
Off market land and property sales remain strong with BTF involved in an increasing number this year.
90% of sales by institutional, corporate and developer sellers is to free up capital to invest elsewhere.
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across the country are at their lowest proportion since 2003. However the number of buyers who are buying to expand has risen once again and accounts for about half of all sales.
Returns on money
Opportunity
Nr Heathfield, East SussexA residential small holding with 22.6 acresGuide Price In Excess of: £995,000
Nr Mayfield, East SussexA residential small holding with 12.4 acres Guide Price: £695,000
Nr Haywards Heath, West SussexA Grade II Farmhouse with 29 acres Guide Price In Excess of: £725,000
Nr Horsmonden, KentA Victorian semi-detached cottage Guide Price In Excess of: £300,000
Nr Heathfield, East SussexA non-residential small holding with 16.8 acres Guide Price In Excess of: £185,000
Nr Mayfield, East SussexA detached 1930’s house with 6 acres Guide Price In Excess of: £850,000
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www.btfpartnership.co.uk
SOLD
SOLDSOLD
SOLDSOLD
SOLD
Sevenoaks, KentA detached 1930’s house divided into 2 flats Guide Price In Excess of: £650,000
Wadhurst, East SussexA Parcel of pasture extending to 19.6 acres Guide Price: £240,000
A selection of land and rural properties sold by BTF
within the last 12 months
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SOLD
SOLD
St Andrew’s House CanterburyMulti-let Offices and Basement Car ParkRent Collection and Service Charge Management
BTF manage a range of properties from high street offices to rurally located estates.
Dover Street CanterburyMulti-let Office and Retail block with surface level Car ParkRent Collection and Management
Orchard House CanterburyMulti-let Offices and Large Surface Level Car ParkRent Collection and Service Charge Management
HadlowMulti-let Office and Industrial Complex Rent Collection and Management
High Street TenterdenRetail, Office and Residential BuildingRent Collection
High Street AshfordRetail BuildingRent Collection
A selection of Commercial properties managed by BTF Partnership
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Land & Property Experts
North Lane Canterbury Multi-let Office Building Rent Collection and Management
High Street Canterbury Multi-let Office and Retail Building Service Charge Management
Orchard House CanterburyMulti-let Offices and Large Surface Level Car ParkRent Collection and Service Charge Management
High Street AshfordRetail BuildingRent Collection
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SittingbourneIndustrial UnitValuation for Accounts
SevenoaksOffice BuildingValuation for Bank security
TenterdenAgricultural land with allocation for Residential DevelopmentValuation for Bank security
DoverTrade counter & Builders Merchant Valuation for Bank security
CanterburyDoctors SurgeryValuation for Partnership
DealRetail & Residential InvestmentValuation for Bank security
A selection of Commercial and Development properties valued by BTF Partnership Folkestone
Retail, Office & Restaurant PortfolioValuation for Pension Fund
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www.btfpartnership.co.uk
BTF annually values properties worth in excess of £250 million.
44 St Peters StreetRetail and Office InvestmentSold June 2015£550,000
Orchard House, CanterburyModern First Floor Office SuiteLet June 2015£40,000 pa
A selection of properties let and sold by BTF in the last 12 months
Clover House, WhitstableOffice Building for Refurbishment Sold July 2015£550,000
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Land & Property Experts
SOLDLET
SOLD
Former Cold Store,DargateLarge Storage/Warehouse BuildingLet March 2015£35,000 pa
Radio House, WhitstableOffice InvestmentSold December 2014£300,000
127/128 John Wilson Business Park, WhitstableIndustrial InvestmentSold November 2014£180,000
Acorn HouseOffice InvestmentSold November 2014£300,000
The Old Cold Store, SellingDevelopment Site with consent for 14 housesSold December 2014£900,000
Cotton Road, Wincheap CanterburyTrade Counter/Retail WarehouseLet May 2015£63,000 pa
26 High Street, WhitstableRetail InvestmentSold February 2015£230,000
£550,000
Saxon Road, FavershamSite with planning for residential developmentSold May 2014£350,000
Pound Lane, AshfordIndustrial InvestmentSold July 2014£500,000
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SOLD
SOLD
LET
SOLD
SOLD
SOLD
LET
SOLD
SOLD
CanterburyResidential Investment PortfolioValuation for Bank security
ElhamVillage ShopValuation for Pension Fund
Westgate on SeaResidential Ground RentValuation for Lease Extension/Enfranchisement
CanterburyRetail InvestmentValuation for Inheritance tax/Probate
MinsterFormer Church HallValuation for Charities Act Purposes
CanterburyResidential Ground RentValuation for Lease Extension/Enfranchisement
FolkestoneRetail, Restaurant & Leisure Investment Valuation for Bank security
AyleshamIndustrial/Storage ComplexValuation for Pension Fund & Bank security
CanterburyConvenience Store & Student AccommodationValuation for Inheritance tax/Probate
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BTF Partnership is a dedicated team of land and property experts based in South East England, with offices in Challock, Canterbury and Heathfield. BTF provides a full range of rural and commercial property services. Our clients include farmers and landowners, tenant farmers, estate owners and managers, property developers and residential and commercial landlords.
Expertise• Rural and Commercial lettings and sales
• Valuations
• Planning and Development
• Property and Estate Management
• Grants and subsidies
• Landlord and Tenant
• Compulsory Purchase and Compensation
• Property Investment Advice
• Agricultural Finance
• Arbitration and Expert Witness
Sales, Lettings and Acquisitions• Specialist advice on the appraisal, valuation, acquisition and sale of land and rural, agricultural and commercial property in the South East.
• Our tailor-made service ensures that property for sale is handled in a professional and efficient way.
• Extensive local knowledge and expertise in the lettings of farms and land.
BTF servicesProperty Management• We provide a full property management service tailored to suit our individual clients’ needs for a range of commercial properties from single units to multi-let buildings and estates.
• We aim to protect and enhance our clients’ interests by improving investment performance or reducing occupational costs for occupiers.
Valuation• We provide property valuation advice for a wide variety of clients and lenders.
• BTF annually values properties worth in excess of £250 million.
Investment and Development• We advise on the appraisal purchase, sale, management and enhancement of commercial investment and development opportunities.
Auctions• BTF organises dedicated auctions for the sale of estates, farms and other rural property.
• First class farm dispersal sales service.
The BTF 50 Club• The BTF 50 Club advises on all aspects of agricultural and horticultural employment law and HR related issues. We are a specialist consultancy service providing up to date advice and lobbying to our farmer and grower members throughout the UK.
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www.btfpartnership.co.uk
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Main Contacts
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Land & Property Experts
Michael Bax FRICS [email protected]
Claire Houchin MRICS FAAV [email protected]
Stuart Sillars MRICS [email protected]
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Tom French MRICS FAAV [email protected]
William Hinckley [email protected]
Helen Shilling MA (Oxon), Solicitor [email protected]
Alex Cornwallis MRICS [email protected]
Colin Hall LLB [email protected]
Mark Henty [email protected]
Tim Thatcher [email protected]
Timothy [email protected]
Thomas Wilson MRICS [email protected]
Richard Sabin [email protected]
Richard Thomas MRICS FAAV [email protected]
Charles Clark FRICS FAAV [email protected]
Anthony Field [email protected]
Harry [email protected]
www.btfpartnership.co.uk [email protected]
Our OfficesChallockClockhouse Barn Canterbury Road Challock Kent TN25 4BJ
01233 740077 [email protected]
Canterbury27 Watling Street Canterbury Kent CT1 2UD
01227 763663 [email protected]
HeathfieldEuston House 82a High Street Heathfield East Sussex TN21 8JD
01435 864455 [email protected]
Challock
Canterbury
Heathfield
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