£43.5m price tag as Cambridgeshire estate goes up for sale
Property agents Bidwells and Savills are jointly selling the Coldham Estate, a large commercial farm in Wisbech, with a guide price £43.5 million. They are marketing the property alongside a sister farm in Yorkshire which has a guide of £44m. Both are described as “highly productive.”
The Coldham and Goole Estates in Cambridgeshire and South Yorkshire are for sale on behalf of Urban&Civic as whole units or in multiple lots. Combined, the estates amount to over 8,350 acres, including 20 residential properties and 30 wind turbines.
Including 4,179 acres (1,691 hectares), the Coldham Estate is for sale as whole or in three lots. The £43.5m guide price is for the whole.
Located in the Cambridgeshire Fens, renowned for its fertile soils, the majority of the land is classified as grade 1 with the remainder grade 2. The rich alluvial soils are versatile and suitable for growing cereals, oil seed crops as well as potatoes, field vegetables, onions and sugar beet.
There has been significant investment in the infrastructure in recent years and the crop storage facilities include 8,300 tonnes of grain storage and 4,060 tonnes of ambient potato storage.
Two reservoirs with a total storage capacity of 230,000m3 are situated on the Estate, which also has the benefit of three summer abstraction licences and two underground irrigation mains servicing the majority of the land.
The residential portfolio comprises a nine-bedroom house; Coldham Hall, a farmhouse and 13 cottages, adjacent to the farmsteads or in the village of Coldham.
The Coldham Estate includes a number of renewable energy income streams through various leases. Coldham Wind Farm, commissioned in 2005, includes eight wind turbines and a substation whilst White Mill Windfarm, commissioned in 2012, includes six wind turbines on freehold-owned land.
Terms are agreed with Scottish Power Renewables for the construction of a new 43-acre ground mounted solar farm with work due to commence imminently.
Including 4,206 acres (1,701 hectares), the Goole Estate is for sale as a whole or in four lots. Guide price is £44m for the whole.
The estate lies within a renowned commercial farming district between the River Ouse and the Isle of Axholme, approximately eight miles east of Goole on the Lincolnshire-Yorkshire border.
The land is a mixture of productive grade 1 and 2, well suited to producing high yielding crops of wheat, barley, oilseed rape, potatoes, vining peas and sugar beet.
There has been significant investment in the infrastructure and crop storage in recent years, which now includes 10,400 tonnes of combinable crop storage, largely connected into a high capacity continuous flow drier, and 3,500 tonnes of ambient controlled potato storage.
Irrigation is provided by two reservoirs with a combined capacity of 115,000m3 and various summer and winter abstraction licences along with two irrigation mains serving a large part of the land.
The Goole Estate’s amenity value does benefit from its proximity to the Blacktoft Sands, which adjoin the northern boundary and are the largest tidal reed beds in England.
The Estate includes two farmhouses; one of which historically had planning consent for redevelopment into a modern eco farmhouse and visitor reception facility. There are another three residential properties plus two separate wind turbine schemes across the estate.
Philip Leech, a director of Urban&Civic says: “Following a strategic review of our land holdings, the decision has been taken to sell The Coldham and The Goole Estates which fall outside the parameters of our current property portfolio and core strategy for land ownership.
“Proceeds from the sale will be used towards funding future strategic land acquisitions and property management.”