Rare land opportunity comes onto the market

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Prime land with a variety of different uses, nestled between the Severn Estuary and River Wye, has come onto the market for the first time in several generations.

Having been in one family for over 60 years, the 70ha parcel of land at Tump Farm, near Chepstow, provides a rare opportunity for buyers.

It has already gained attention in the press due to a long-running family court case. “It’s for sale by formal tender with a deadline of 14 February 2024 and completion by mid-March,” says James North, director at selling agent North and Letherby Chartered Surveyors. “It’s not often that things are sold by formal tender, so it’s a huge opportunity for those who have funding available, have cash or development proceeds in need of rollover.”

The land is available in its 70ha entirety, or as five lots. “There is a combination of a decent sized block of arable land, which is 18ha, a large 13ha block of woodland – offering a natural capital element – and another 16ha block comprising a mixture of pasture, woodland, and arable, which runs down to the River Severn which is a Site of Special Scientific Interest,” he details.

“This could bring a glamping opportunity, as well as a potential market for biodiversity net gain and natural capital.”

There is also a 9ha block of pasture. “This could be interesting for amenity buyers or those with equestrian interests locally given it’s roadside access,” he adds.

Perhaps the most interesting opportunity is in the middle of the block of land – a solar farm. “It is subject to a long lease agreement, but the new owner of the land would pick up the lease, which provides a guaranteed rental stream – around £40,000 a year,” says Mr North. “It’s quite rare that a solar farm with a freehold perspective is sold, so there’s a good opportunity for mixed investment alongside the farmland.”

However, there is no house included with the land. “There’s no money tied up in residential non-investment assets, but there is one building which could have potential for conversion in due course.”

The land in its entirety has a guide price of £1.85m. “It’s not like buying a whole estate, it’s quite accessible and achievable for a greater proportion of the market,” he says.

He expects it to generate a lot of interest. “We’re expecting interest from local farmers who want to increase their enterprise, also investors who are interested in the short-term returns from the solar farm, as well as the longer-term investment in the variety of land and biodiversity net gain.”