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Demand For Unconverted Barns With Land Continues To Rise

Demand For Unconverted Barns With Land Continues To Rise

Farmers could benefit from the rising interest in rural living as buyers seek barns and agricultural buildings with https://barnfinders.co.uk/property-type/barns-unconverted/permission for conversion.

Identifying any redundant barns or livestock sheds that could be converted or sold to people looking to build their own houses may increase the number of interested parties.

Land agent Carter Jonas https://www.carterjonas.co.uk/farm-consultants has recommended owners obtain planning permission before marketing the property for sale to maximise value.

Buildings should be structurally sound and watertight, to be suitable for residential conversion.

A stream of successful online auction sales over the summer has reinforced the demand for property with potential.

Carter Jonas said in July one barn with a four-acre paddock received nearly 50 bids and sold for £125,000 above its guide price.

The Barn at Parshalls Farm in Ilminster, Somerset, had permission for conversion to a four-bedroom barn dwelling and reached £355,000 at online auction.

Jack Mitchell, associate partner at Carter Jonas, said: “There is a shortage of supply in the rural property market at the moment, which means buyers are being forced to be more openminded in terms of what they’re looking for, and they are prepared to pay more than they would have 18 months ago.

Many can’t find the ideal house in the countryside, or have been priced out of it, which means they are open to considering a project.”

The strong bidding mirrored two similar auctions of barns with land and planning permission for residential conversion held earlier this year.

Two lots on Skillgate Lane at Stoke-Sub-Hamdon, Somerset, that totalled 0.72 acres sold for £405,000, against a guide price of £350,000.

“Changes to permitted development rights [PDR] for agricultural buildings have opened up opportunities for such developments,” Mr Mitchell said.

“However, there are still buildings out there that could potentially be converted and their owners may not be aware of the lucrative opportunities.

Taken from Farmers Weekly https://www.fwi.co.uk/business/markets-and-trends/land-markets/demand-for-disused-barns-and-small-blocks-of-land-skyrockets

 

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