Is a single field worth £1million?

£1m field smallWould you pay £1million for a single field? It may sound like a lot of money, but actually it could be the best investment you’ve ever made – and there’s a field on the market in Wiltshire that’s creating quite a stir.

Nestling among the southern slopes of the Wiltshire Downs in Pewsey Vale, this single field of grade 2-3 arable land covers 37.3 hectares (92.2 acres) and is on the market for more than £27,000 a hectare (£11,000 an acre).

That may sound a lot, but with so much uncertainty following the Brexit vote, agricultural land is likely to be seen as a safe investment; and it’s certainly performed well in the past. According to Mark Webb, partner at WebbPaton chartered surveyors, arable land prices in Great Britain have soared by 340% over the past 10 years, outperforming almost any comparable investment, including London property. It now averages around £23,500 a hectare (£9,500 an acre), and comes with considerable tax benefits too.

“Land is always going to be in demand; we’re not making any more of it,” says Mr Webb. “It’s a tangible asset and offers extremely valuable relief from Inheritance Tax and Capital Gains Tax.” Providing the land is owned for at least two years up to 100% relief from Inheritance Tax is available, which on land valued at £1milion would save up to £400,000 in tax. For purchasers who are reinvesting money after the sale of another trading asset, rollover relief may also available, potentially wiping out any Capital Gains Tax liability.

“As well as active farmers seeking to expand, we’re expecting this field to attract considerable attention from institutional investors,” says Mr Webb. “For those who don’t want to farm it in-hand income may be generated by renting it out – although to secure the tax benefits it’s better to employ a contractor or enter into a share farming agreement. There will be plenty of local farmers willing to take on such an arrangement.”

The land is available freehold with vacant possession. It is easily accessible from the road and has an opportunity for mains water supply as well as electricity and telephone. For full details please visit: or call Mark Webb on 01793 842055.