Maximising sales potential for prestige rural property
The owners of an outstanding sporting estate in Northumberland approached us to ask for our help in selling the diverse property. In addition to a 19th century 14 bedroomed Grade II listed hall, complete with its own ballroom, and six cottages, the proposed sale included 250 acres of agricultural land and woodland as well as fishing rights on one of the best salmon rivers in England.
We had to find practical solutions to the numerous challenges to the marketing of such a diverse property. These included the reservation of certain rights by the owner, the presence of asbestos, sale of chattels and the fact that there were a number of interrelated transactions, which all needed to fall into place in the correct sequence.
We advised our client to divide the estate into lots to maximise the market appeal and eventual sale price. We also looked at potential development opportunities and the option of selling some land off as extensions to gardens. As part of the due diligence process we needed to rectify some planning issues and also iron out potential problems with historic changes that had been made to the hall, which meant that some aspects of the Grade II listing had been breached.
Ultimately, we sold the estate in ten separate transactions for £5.8 million, having secured vacant possession of the residential properties, as required by the eventual buyer. The demands of the whole complex, multi-faceted transaction were many and varied. The Forge team, with its range of different negotiating skills and areas of technical expertise, was ideally placed to rise to the challenge and meet and exceed the expectations of our client.
Valuation enables owner to convert barns to luxury homes
One of our farming clients in Staffordshire was looking to convert his three redundant agricultural barns and paddock into several luxury residential properties with land attached. In order to gain planning permission for the conversion he needed a formal RICS Red Book valuation, an area in which we specialise, with Forge surveyor Tom Mason being an RICS Registered Valuer.
Due to the highly bespoke nature of the barns’ development, our report needed to include consideration of the final sale value and development costs, as well as comparable site sales. We also made recommendations as to changes that could be made to aspects of vehicle access, layout, design and style of the dwellings to improve their marketability and attract a premium value when it came to selling them. This meant that our final report not only met our client’s immediate needs but resulted in a document that will continue to be useful throughout the ongoing development process.
Our client was impressed with the depth and content of the valuation and has already said he will be using our services again.