An exceptional amount of farmland in the north of Scotland was sold in the last two years and the Highland market reflects that of the wider Scottish region which saw more land come to the market in 2018 than in the last decade.
Euan MacCrimmon, Senior Associate Director in Strutt & Parker’s Inverness office, said: “An exceptional amount of land has come to the market in the north of Scotland in the past two years. During this time, the firm has either placed under offer or sold 14 farms, comprising more than 5,000 acres, in the Highland region. Ten of those farms were over 100 acres; within this bracket we had a 70% share which demonstrates a significant growth in Strutt & Parker’s market share.
“The volume released to the market is predominantly due to an ageing farming population and a lack of willing successors in the next generation, combined with political uncertainty.”
He added that appetite remained in the market,which had proved particularly buoyant. He said: “Most of those farms have found buyers and many of them went to closing dates. This illustrates significant demand for farmland, some of which remains unsatisfied despite the increase in supply. This follows years in which the market was characterised by a lack of stock.”
Mr MacCrimmon said Olrig Mains, an outstanding 518-acre mixed farm in Caithness, was one of the principal successes in the north this year. The mixed arable and stock farm with exceptional views across Dunnet Bay to Orkney, priced at offers over £1.75m, attracted stiff competition.“This was particularly indicative of the strength of demand for prime farm land in Caithness, which remains highly sought after,” he said. “It is a very strong farming region with many excellent farms and there are still people looking for something sizeable in the area.”
He added that North Hill Forest Cottage, a contemporary property with 90 acres of mature amenity woodland near Garve which offered harvesting potential and lifestyle opportunities, went under offer relatively quickly and demonstrated the variety of demand in the market.
Mr MacCrimmon said: “The Scottish farmland market, in general, has remained buoyant with demand strongest for prime arable farms and those with diversified income streams.”
For more information, please contact Strutt & Parker’s Inverness office on 01463 719171.
Farms for sale: