Are you selling a rural estate?
Dividing an estate into separate lots is one of the best ways to expand the pool of potential buyers, but it’s easier said than done.
Which is where we come in. Savills farm agency team works with owners to devise the best way of separating out the residential properties and farm assets for sale and we’ve compiled a quick list of top tips to help you.
Our top tips for lotting sales
- Lot sizes – create different sizes to suit different pockets, and attract more buyers to your sale
- Order of sale – sell your main lot before agreeing offers on the others
- Water and access rights – take care to account for cross rights between the lots
- Know thy neighbour – local interest in your land should play a big part in deciding how to lot up your property
- Home is where the heart is – account for the requirements of current house hunters when creating residential lots
- Lotting farms and estates is an art not a science
- Too few lots, and you risk confining the buyers’ pool to a limited number of people
- Too many lots, and you risk discouraging that one buyer who might compete to purchase them all
Lotting an estate or farm gives you the relative value of each asset. This can be extremely useful to you and helps potential buyers engage in deals for their preferred areas of land. Potential buyers can see the breakdown and easily compare lots rather than debating how a multi-million pound guide price for the whole property was reached.
For more information and guidance, contact Savills farms and estates services team.